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Waterloo EDC Blog

Waterloo quantum security firm lands $10 million investment

Posted by Waterloo EDC on November 21, 2018

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The National Security Agency in the United States identified quantum computers as a major threat to cybersecurity. That’s where Waterloo’s ISARA comes in.

ISARA has developed technology that helps companies and governments defend against quantum hackers. Thanks to Silicon Valley venture capital firm Shasta Ventures they now has an additional $10 million in investment to develop their product and hire marketing, sales and business development talent.

Want to read more about ISARA? Download their story here.

The software that controls power grids, processes income tax returns and runs online banking is all vulnerable to quantum hacking. ISARA CEO Scott Totzke also believes the automotive sector is similarly threatened.

"That industry is moving very quickly to look more like a computing platform with over-the-air software updates, vehicle-to-vehicle communications, and internal networks that are internet based," said Totzke.

"So they are the perfect target for looking at how quantum-safe crypto could be used," he said.

 

Read the whole article from the Waterloo Region Record here.

Want to learn more about Waterloo’s world-renowned quantum ecosystem? You can find more information here.



 

Topics: quantum, security, technology