Fundraising of $10 Million for the extension of Series A for a quantum networking platform by Qunnect confirmed

Qunnect, a pioneering company in the field of quantum networking, has announced the successful closure of an oversubscribed Series A extended financing round worth $10 million. The funding round was led by Airbus Ventures, with additional participation from Cisco Investments and Quantonation.

The new investment was largely driven by the impressive performance of Qunnect's products, which have been deployed on city-scale quantum networking testbeds. The response from the industry following these deployments has been overwhelmingly positive, according to industry sources.

Qunnect has already delivered its Carina quantum networking product suite to the market, and the company boasts a diverse client base spanning the financial services, telecommunications, energy infrastructure, and defense/intelligence sectors.

One of the key advantages of Qunnect's solutions is that their commercially available hardware is uniquely designed to operate at room temperature, making it more accessible for widespread adoption by industry.

In a recent development, Qunnect's Carina product suite has been deployed in two first-of-their-kind quantum testbed networks - one in New York City and another in Berlin in partnership with Deutsche Telekom's T-Labs.

The Carina product suite is designed to create, buffer, and preserve high-quality entangled photons, the basis for quantum communications, at unprecedented rates. This breakthrough technology promises a new era of networking, offering a high level of security, higher processing power, and enhanced sensing capabilities.

Cisco Investments has also joined as an investor in Qunnect's latest financing round. Noel Goddard, CEO of Qunnect, stated that Cisco's investment is a significant step forward in advancing quantum technologies for future quantum internet and data centers.

Aleem Rizvon, vice president of Cisco Investments, expressed his excitement about Qunnect's successful delivery of quantum communication foundations. He believes that Qunnect's solutions will play a crucial role in the development of the quantum internet.

Nicole Conner, a partner at Airbus Ventures, emphasised Qunnect's mission to invent and develop hardware for the future quantum internet. She expressed her confidence in Qunnect's ability to push the industry towards the era of quantum network utility, following the company's success in New York and Berlin.

Qunnect also collaborates with industry partners including AT&T and NEC to enable demonstrations of the next step in real-world industrial applications of quantum networks. The company believes that quantum networks hold the solution to a truly secure, exponentially more powerful network of computing power than is currently leveraged today.

With this new funding, Qunnect is poised to continue its mission of revolutionising the networking industry with its quantum technologies.

Fundraising of $10 Million for the extension of Series A for a quantum networking platform by Qunnect confirmed