CryptoNext Security raises €11 million

CryptoNext Security, a Paris-based startup pioneering quantum-resistant cybersecurity solutions, has raised €11 million in a funding round led by AXA Venture Partners and Quantonation, with participation from Auriga Cyber Ventures.

Founded in 2019 after 20+ years of academic research, CryptoNext develops post quantum cryptography software solutions to manage the quantum threat and migrate IT/OT infrastructures to quantum safe. Its software is designed to secure critical data, applications and systems and integrates in most popular communication and authentication infrastructures.

“AVP is proud and very excited to support CryptoNext Security in its mission to pioneer quantum-resistant cybersecurity solutions. The threat on encryption protocols arising from quantum computing is huge and therefore the quantumresistant solutions market is big. Moreover, although the exact timing for the emergence of quantum computers is still uncertain, the market for post quantum cryptography is already there. As digital threats evolve, CryptoNext’s innovative approach aligns seamlessly with our commitment to investing in cutting-edge technologies that address critical challenges. We have been very impressed by CryptoNext’s team and CryptoNext’s leadership and are very happy to support the company in its journey and its potential to reshape the landscape of post-quantum cryptography. We are also very happy to co-invest alongside Quantonation, the market leader in investment in quantum computing technologies and Auriga Cyber Venture, the specialist in cybersecurity investments.” – Francois Robinet, managing partner at AVP .