QWave Capital puts up $5.6m for cutting-edge quantum encryption technologies

QWave Capital, a Russian VC fund with international presence, is investing $5.6m in Switzerland?s IDQuantique SA, a leading developer of commercial quantum encryption systems

QWave Capital, a Russian VC fund with international presence, is investing $5.6m in Switzerland?s IDQuantique SA, a leading developer of commercial quantum encryption systems, Russian news agency RIA Novosti reported, citing a source at the Russian Quantum Center (RQC). ?Of the amount, $4.5m is a direct investment in the business of the Swiss company, and the remaining $1.1m has bought us shares from another shareholder. The overall deal is the fund?s first sizable investment in quantum cryptography, a fast-growing market segment,? RQC emphasized. ID Quantique?s cryptography technologies are designed to protect confidential information in both government and commercial sectors. Set up in 2012, QWave Capital is Russia?s first venture fund to focus on backing companies that develop state-of-the-art projects tapping into physical science...