Quantum company Sandbox AQ has reportedly raised $500 million in a funding round, with participation from investors including Breyer Capital, T. Rowe Price funds, and TIME Ventures.
Sandbox AQ, which was spun off from Alphabet Inc. last year, aims to develop software to solve the problem of post-quantum cryptography. The company’s CEO, Jack Hidary, previously led quantum computing research at Alphabet’s X lab. Sandbox AQ also offers quantum sensing and quantum simulation solutions to serve a range of industries, including life sciences, security, financial services, and navigation. Its customers reportedly include New York’s Mount Sinai Health System, SoftBank Group Corp.’s telecommunications business, and Vodafone Business.
About SandboxAQ’s Cybersecurity Software
SandboxAQ is creating cybersecurity software that facilitates the transition from current public-key cryptography algorithms to new ones that can resist attacks from quantum computers. The software will allow organizations to monitor their cryptographic security and implement quantum-resistant cryptography protocols to secure their data. CEO Jack Hidary stated that the software analyzes an organization’s IT systems to identify outdated cryptography, determines which parts need replacing, and assists in encrypting systems to safeguard against cyber threats.
