SpeQtral secures US$1.9 million through seed funding led by Space Capital

SpeQtral

A Singapore based startup, SpeQtral has secured US$1.9 million in an oversubscribed seed funding. The startup has been developing space quantum communication systems. Space Capital, a US$25 million venture fund of Space Angels, alongside the participation of other investors including Shasta Ventures, Golden Gate Ventures, and SGInnovate, led the funding round.

The co-founder and CEO of SpeQtral, Chune Yang Lum said that having Space Capital lead their investment round is a matter of great honor for them. The support from Shasta, Golden Gate Ventures, and SGInnovate is invaluable.

A space-based quantum systems for the global delivery of secure encryption keys is being built by SpeQtral, which was formerly known as S15 Space Systems. In order to develop compact quantum light sources, SpeQtral has licensed intellectual property from the National University of Singapore, which hosts the Centre for Quantum Technologies (CQT). To get help with building its technology, the startup has hired former CQT researchers.

The success of quantum technology will guarantee unprecedented security for issues like eavesdropping. It will additionally enable the next generation of secure networks.

The CEO of Space Angels and Managing Partner of Space Capital, Chad Anderson deems SpeQtral an excellent addition to their portfolio. He believes that their technology has the capability to transform space-based communications.

According to the founding CEO of SGInnovate, Steve Leonard, quantum technology is both exciting and has an unlimited potential. They are excited to be a part of SpeQtral’s journey where their scientists have done years of research in quantum communication, and are now turning that research into a commercial technology. The funds that have been raised by the startup are intended for investing in a commercially-focused space-to-ground cubesat quantum communication demonstration mission. SpeQtral also aims to expand its team along with opening offices in United States and Singapore.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top