According to Foresight News, cybersecurity startup PQShield has successfully raised $37 million in a Series B funding round. The round was led by Addition, with participation from Braavos Capital, Legal & General, and Chevron Technology Ventures. The funds raised will be used to hire more staff and foster closer relationships with partners and customers.
PQShield aims to protect cryptographic systems from future hacker attacks based on quantum computing. The company's mission is to ensure the security of encrypted systems against the potential threats posed by the advancement of quantum computing technology. The additional funding will enable PQShield to expand its team and strengthen its collaborations with partners and clients, thereby enhancing its capacity to safeguard cryptographic systems from quantum-based cyber threats.