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SpeQtral Announces $1.9M Seed Funding to Power the Next Generation of Secure Communications

SpeQtral was formally announced today with initial funding led by Space Capital.

Press release from Speqtral
May 5th 2019 | 200 readers

Photo by Steve Halama on Unsplash
Photo by Steve Halama on Unsplash
Formerly known as S15 Space Systems, SpeQtral is building space-based quantum communication systems rooted in advanced technologies developed at the world-renowned Centre for Quantum Technologies (CQT), a Research Centre of Excellence hosted by the National University of Singapore (NUS). This quantum technology offers unprecedented security from eavesdropping and will enable the next generation of secure communication networks. SpeQtral has licensed from NUS the IP and knowhow necessary to develop compact quantum light sources, and has also hired former CQT researchers to its team.

SpeQtral’s $1.9 million seed round was led by Space Capital, the venture fund of Space Angels, the world’s leading space investors. Space Angels also participated in the round, as did Shasta Ventures, Golden Gate Ventures and SGInnovate.

“It is a great honor to have Space Capital lead our investment round,” said Chune Yang Lum, co-founder and CEO of SpeQtral. “Their vision and support from Shasta, Golden Gate Ventures, and SGInnovate will be immensely valuable as we bring our quantum technology to the world.”

“SpeQtral is a fantastic addition to our portfolio,” said Chad Anderson, CEO of Space Angels and Managing Partner of Space Capital. “Their technology has the capability to transform space-based communications and we are excited to help them realize that potential.”

"I admire the SpeQtral team's vision in launching a business for space-based quantum communication. It is a pleasure to see colleagues take this step to build from decades of research towards a global commercial network," says Artur Ekert, Director of CQT and co-inventor of quantum cryptography.

"Quantum technology is an exciting frontier with limitless potential," said Steve Leonard, Founding CEO, SGInnovate. "The scientists behind the formation of SpeQtral have done years of research in quantum communication, and are now turning that research into a commercial technology. We are thrilled to come in at an early part of their journey.”

The round, which was oversubscribed, will give SpeQtral the capital necessary to kick off a commercially-focused space-to-ground cubesat quantum communication demonstration mission, expand the team and open offices in Singapore and the United States, and develop further advances in quantum communication technology.

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