Northern Gritstone has invested £850,000 in Cavero Quantum’s £2.2 million Seed round, led by Foresight. Cavero Quantum, a spin-out from the University of Leeds, has developed revolutionary encryption technology compatible with legacy hardware and resistant to quantum computer cyber-attacks. The technology aims to replace current multi-factor authentication with a highly secure, frictionless system. Founders Professor Ben Varcoe and Dr. Frey Wilson will be joined by new CEO James Trenholme and Chair Andrew Wallace to commercialize the innovation. The investment will facilitate the launch of its first product. Duncan Johnson, CEO of Northern Gritstone, and Deputy Vice-Chancellor Nick Plant of the University of Leeds have both emphasized the technology’s groundbreaking potential in secure communications and its long-term impact on data security.

Quantum Computing, Cybersecurity, Venture Capital,United Kingdom

https://www.northern-gritstone.com/news/northern-gritstone-invests-in-cavero