On September 7, 2023, Hangzhou PQCTech, incubated by the Zhejiang Lab, announced the completion of a Series A financing round worth tens of millions of yuan. This round of financing was led by Haiyue Asset Management, with participation from Yuhang Guotou and Gingko Capital. Prior to this, Hangzhou PQCTech had successfully completed angel and Pre-A rounds of financing, with investors including Hengsheng Electronics, Fangguang Capital, Gingko Capital, and Quantitative Enabling, among others. The funds raised in this round will be used to further invest in research and development of post-quantum cryptography and high-performance national cryptographic libraries, as well as to deepen strategic expansion, strengthen team development, and advance the widespread implementation of the company's new cryptographic products.
Established in 2022, Hangzhou PQCTech Limited is an innovative information security company incubated by Zhejiang Lab, focusing on post-quantum cryptography, high-performance national cryptography, and data security. The company provides next-generation cryptographic products and services for government, finance, large enterprises, defense, healthcare, and other sectors. The company is led by academicians, experts in the Kunpeng Plan, recipients of the National High-Level Talents Special Support Plan, winners of Alibaba DAMO Academy's Orange Award, and chief scientists of the National Key Research and Development Program. It garnered significant attention from numerous renowned investment institutions from its inception, having completed three rounds of financing totaling tens of millions of yuan and receiving policy support from the Yuhang District of Hangzhou. Additionally, the company leads national key research and development programs related to cryptography and has received several industry awards, including the 2022 Global Digital Trade Expo Pioneer Silver Award (highest annual award), the 2022 3rd China Digital Economy and Technology Conference Annual Most Competitive Product Innovation Award, and the 2022 3rd China Digital Economy and Technology Conference Annual Data Security Gold Shield Award.
Hangzhou PQCTech is one of the earliest information security companies in China dedicated to the development of post-quantum security products. The company's post-quantum cryptography platform is the first domestically developed high-performance, highly secure, and quantum-resistant cryptographic platform, serving as the cornerstone for ensuring cybersecurity in the quantum era. It can provide quantum-resistant cryptographic services for national defense, government, finance, energy, and other sectors.
Founder of Hangzhou PQCTech, Fang Liming, stated that after completing the Series A financing, the company will accelerate post-quantum cryptography innovation, develop a full-stack post-quantum cryptographic product and solution portfolio, continue to focus on the research and development of new cryptographic products resistant to quantum attacks, and build a new defense line for information security in the quantum era.