PQShield

About PQShield

Positioned at the forefront of the quantum computing age, PQShield is a cybersecurity firm specializing in post-quantum cryptography (PQC). The company was established in 2018 as a spin-out from the University of Oxford by Dr. Ali El Kaafarani. Dr. El Kaafarani, a former engineer at Hewlett-Packard Labs and a research fellow at Oxford's Mathematical Institute, founded the company to address the impending threat that quantum computers pose to current encryption standards. His academic and industrial experience in cryptography directly informs the company's mission to develop practical, quantum-resistant security solutions.

PQShield develops cryptographic solutions to protect data and systems against attacks from both classical and quantum computers. The firm operates in the critical market of future-proofing digital infrastructure, serving a diverse client base that includes semiconductor manufacturers, automotive companies, military and aerospace, and financial institutions. Its business model revolves around providing both ready-made and tailored intellectual property (IP) for hardware, software, and cloud applications, enabling clients to transition their systems from legacy cryptography to new, quantum-secure standards. Key customers include notable names like AMD, Microchip Technologies, Collins Aerospace, and NTT Data.

The company's product portfolio is comprehensive, featuring a suite of hardware and software solutions designed for various implementation needs. Offerings include PQCryptoLib, a cryptographic software development kit (SDK) for mobile and server technologies, and a range of hardware IP cores under the 'PQPlatform' brand. These platforms provide hardware acceleration for PQC algorithms, including those for digital signatures and key establishment, and are designed to be integrated into everything from secure elements and IoT firmware to high-performance network hardware. A distinct selling point is the company's hardware and software co-design approach, which allows for optimized performance and robust security against side-channel attacks. PQShield has been a significant contributor to the international standardization process for post-quantum cryptography led by the U.S. National Institute of Standards & Technology (NIST), having co-authored all four of the announced standards.

Since its inception, PQShield has secured substantial financial backing, raising a total of $65.3 million over eight rounds. A significant Series B funding round in April 2024 brought in $37 million, led by Addition with participation from investors like Chevron Technology Ventures and Oxford Science Enterprises. The company actively advises governmental bodies such as the White House, the European Parliament, and the UK National Cyber Security Council on the migration to PQC, underscoring its influential role in the industry.