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Aegiq plans to develop solutions based on quantum particles
UK startup Aegiq, which develops quantum photonic technology, received $4.8 million. The company plans to reach the level of Cisco, only in the field of quantum computing.
According to Aegiq’s CEO, the startup is not creating a quantum computer; it is developing technology that will allow for the secure transmission of information based on quantum solutions. The company predicts that within 10-20 years, the world will be using high-powered quantum computers that can handle the most complex encryptions in just a few seconds. Therefore, the need for other options for data encryption and information transfer, including quantum key exchange, will increase significantly. Understanding the growing need for a secure alternative, the startup is already actively developing new solutions.
During the funding round, Aegiq attracted funds from various investors, the main one being the German fund High-Tech Gründerfonds. In addition to it, Deepbridge Capital and a number of business angels invested in the project. It is assumed that the company’s management will direct the received investments to the improvement of their solutions.
The startup is a subsidiary of the University of Sheffield, it was created by three scientists, including two Ukrainians and one Briton. Aegiq is developing a platform that will allow the use of quantum technologies for a better level of communication. The startup uses knowledge from quantum physics and computer science to create products.
In 2021, Aegiq received an award as the best business startup in the field of physics. The company has a patent for its development – of single-photon technology. In addition, it uses a unique solution based on integrated optics. This approach allows the creation of innovative quantum communications, including the transfer of quantum keys QKD.
It should be noted that Aegiq is not the only developer in the field of quantum technologies. For example, the British company Cambridge Quantum is creating a platform on which quantum keys can be generated and sold. In this case, it uses a quantum computer that randomly creates a combination. Such a cipher is much harder to break, which increases protection against cyberattacks. For now, the platform is available for companies that provide services in the field of finance and cybersecurity, but soon the developers promise to expand its capabilities and offer their product to sectors that are in dire need of secure interaction.
In addition, the very proliferation of quantum computers also poses a threat. According to scientists’ calculations, by 2030 these devices will learn to crack cryptocurrency systems, not to mention other data. A quantum computer with 1.9 billion qubits would have to be used to pick the cipher of a blockchain-based currency in 10 minutes.