SpeQtral was formally announced today, with initial funding led by Space Capital.
Formerly known as S15 Space Systems, SpeQtral is building space-based quantum communication systems rooted in advanced technologies developed at the world-renowned Centre for Quantum Technologies (CQT), a Research Centre of Excellence hosted by the National University of Singapore (NUS). This quantum technology offers unprecedented security from eavesdropping and will enable the next generation of secure communication networks. SpeQtral has licensed from NUS the IP and know-how necessary to develop compact quantum light sources, and has also hired former CQT researchers to its team.
SpeQtral’s $1.9 million seed round was led by Space Capital, the venture fund of Space Angels, the world’s leading space investors. Space Angels also participated in the round, as did Shasta Ventures, Golden Gate Ventures and SGInnovate.
The round, which was oversubscribed, will give SpeQtral the capital necessary to kick off a commercially-focused space-to-ground cubesat quantum communication demonstration mission, expand the team and open offices in Singapore and the United States, and develop further advances in quantum communication technology.
Chune Yang Lum, Co-Founder and CEO of SpeQtral, said it is a great honor to have Space Capital lead this investment round. Their vision as well as support from Shasta, Golden Gate Ventures, and SGInnovate will be immensely valuable as we bring our quantum technology to the world.
Chad Anderson, CEO of Space Angels and the Managing Partner of Space Capital noted that SpeQtral is a fantastic addition to their portfolio. Their technology has the capability to transform space-based communications and Space Capital is excited to help them realize that potential.
Artur Ekert, Director of CQT and the co-inventor of quantum cryptography, added he admires the SpeQtral team's vision in launching a business for space-based quantum communication. It is a pleasure to see colleagues take this step to build from decades of research toward a global commercial network.
Steve Leonard, Founding CEO, SGInnovate, stated that quantum technology is an exciting frontier with limitless potential. The scientists behind the formation of SpeQtral have done years of research in quantum communication and are now turning that research into a commercial technology.