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Quantum Optics Jena Lands $9.4M in Funding

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Quantum technology startup Quantum Optics Jena (QOJ) has closed an €8.5 million (~$9.4 million) Series A funding round. The funds will be used to fuel QOJ’s expansion and accelerate the commercialization of its quantum key distribution technology.

QOJ is utilizing entangled photon pairs for tap-proof communication. The photons generate a 'key' which is used to encrypt and decrypt data — a method known as entanglement-based key distribution (EKD). With this approach, multiple users can securely communicate at the same time by using the generated quantum keys.

QOJ also develops hardware, software, and services for data exchange for customers with high security requirements, such as government networks and banks. The company is now working to build a communication system with partners in the rural area surrounding Jena to securely send information and patient data to the Jena University Hospital. The company is also involved in the construction of a European Quantum Communication Infrastructure, which is expected to be operational across all of Europe by 2027.

The company is active in in Singapore, Spain, Austria, and Slovakia, and has a sales office in North Carolina. The funding round was led by venture capital firm Join Capital and joined by early investors ELAS Technologies GmbH, Fraunhofer Technologies-Transfer Fonds, and beteiligungsmanagement Thüringen as well as angel investor Malte Pollmann.

Published: September 2024
Glossary
quantum key distribution
Quantum key distribution (QKD) is a method of secure communication that utilizes principles from quantum mechanics to establish a shared secret key between two parties, typically referred to as Alice and Bob, while detecting any potential eavesdropping attempts by a third party, commonly known as Eve. The fundamental principle behind QKD is the use of quantum properties, such as the superposition principle and the no-cloning theorem, to enable the distribution of cryptographic keys in a...
quantum
The term quantum refers to the fundamental unit or discrete amount of a physical quantity involved in interactions at the atomic and subatomic scales. It originates from quantum theory, a branch of physics that emerged in the early 20th century to explain phenomena observed on very small scales, where classical physics fails to provide accurate explanations. In the context of quantum theory, several key concepts are associated with the term quantum: Quantum mechanics: This is the branch of...
Businessfundingquantum key distributionQKDentanglement-based key distributionEKDQuantum Optics JenasecuritycybersecuritystartupquantumGermanySeries Afunding roundEuropeQOJFiber Optics & CommunicationsCommunicationsIndustry News

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