Ashish Kacholia, Speciale Invest and a family fund participated in a fresh round
QNu Labs stands as a pioneering force in quantum technology in India, which has successfully created indigenous and commercially developed products and solutions based on patented technology.
QNu Labs sets a new benchmark with the largest quantum tech funding by private investors, underscoring its pivotal role in the industry.
The latest funding will fast-track QNu Labs’ product enhancements and market delivery, sharpening their edge in a competitive landscape.
This investment will propel QNu Labs towards global market expansion and fortify its leadership team, positioning the company for heightened influence in the quantum technology sector.
Bengaluru, December 14, 2023: QNu Labs offers quantum and post-quantum cryptography solutions based on patented technology that offers confidentiality and privacy against new-age attacks targeting critical information infrastructure, communication, and personally identifiable information.
QNu Labs, India’s first quantum-safe cybersecurity technology company, has announced the successful closure of $6.5 million in its Pre-Series A1 funding round. This significant investment, led by Ashish Kacholia of Lucky Investments, with Speciale Invest, and a well-known family fund, represents a crucial step in the company’s path to global quantum technology leadership.
This latest round of funding is primarily aimed at bolstering the company’s growth phase. Having already established a robust presence in the Indian market and making inroads into several other countries, QNu Labs is on a mission to complete and refine its existing quantum technology solutions. This strategic investment, notably the largest by a private investor in an Indian quantum technology startup, is a testament to the company’s commitment to not just contributing to the market, but leading it. This aligns with the vision set seven years ago, and the continued support from investors like Speciale Invest, who initially invested in 2021, plays a crucial role in this journey.
This capital infusion will also bolster QNu Labs’ leadership team, with strategic hires in senior sales, marketing, and engineering roles. Furthermore, it will accelerate the deployment of their solutions, in line with the increasing demand from customers.
Extremely happy to announce this round of financing. QNu has proved that it’s possible to build deep tech startups in India. And it also is heartening to see that even in this tough funding market, it’s always possible to raise equity for a good quality business – Aluri, Co-Founder, QNu Labs
This new investment is not just a financial boost but a strong vote of confidence in our vision and capabilities at QNu Labs. With these funds, we’re poised to accelerate the completion of our state-of-the-art quantum technology solutions, further enhancing our product suite that’s already leading the market. Our goal is to solidify India’s position as a hub of quantum technological excellence and to emerge as a key player on the global stage, pushing the boundaries of what’s possible in quantum-safe cybersecurity.” said Sunil Gupta, Co-founder and CEO, QNu Labs.
“As an investor, it’s always exciting to support companies that are at the forefront of technological innovation. Our investment in QNu Labs is a clear indicator of our confidence in their ability to lead and innovate in the rapidly evolving quantum tech landscape. Their commitment to pioneering quantum-safe technologies aligns perfectly with our vision of empowering trailblazers in tech innovation. We’re proud to be part of this journey, investing in a future that promises enhanced security and innovation in the quantum era,” said Ashish Kacholia of Lucky Investment.
“At Speciale Invest, we are deeply committed to nurturing technological advancements that have a profound impact, not just locally but globally. Our initial investment in QNu Labs back in 2021 was driven by our belief in their potential to revolutionize the quantum technology sector. Seeing them now, achieving the milestone of market entry only reinforces our conviction. This additional investment is more than just capital; it’s a reinforcement of our trust in QNu Labs’ vision to make India self-reliant in quantum technology. By supporting their journey, we are not just fueling a company’s growth; we are contributing to a movement that positions India at the forefront of the global quantum tech landscape, said Vishesh Rajaram, Managing Partner, Speciale Invest.