Singapore-based pQCee, a post-quantum cryptography solutions firm, has raised $3.9 million in a seed funding round co-led by SGInnovate and Lotus One Investment, with participation from In Group Holdings, Wavemaker Ventures, SUTD Venture Holdings, and Apsara Investments.
In a statement on Friday, the firm said the raise is its second institutional round, following a $2.8 million raise in 2022 co-led by Wavemaker Ventures and SEEDS. The round also featured the participation from SGInnovate, Mirana Capital, Paragon Capital Management, and Apsara Investments.
pQCee will utilize the new capital to expand the team in Singapore, deepen presence across Asia, and accelerate entry into the United States, Europe, and the Middle East.
pQCee’s product portfolio focuses on protection against harvest-now-decrypt-later attacks, where encrypted data is collected today for decryption once quantum computing becomes sufficiently powerful.
The company has established integration partnerships with Thales and Feitian for hardware security modules, Netrust and SendQuick for digital identity and enterprise messaging workflows, PQShield for post-quantum cryptographic standards alignment, and Microsoft and TechCreate for enterprise IT and hardware-based deployment.
Dr Teik Guan Tan, CEO of pQCee, said the funding would allow the company to accelerate deployment of quantum-safe security and scale its team globally, noting that organizations need practical, interoperable solutions they can adopt ahead of tightening global regulations.
Hsien-Hui Tong, Executive Director of Investments at SGInnovate, said advances in quantum computing, AI, and materials science are accelerating the timeline for quantum threats to existing encryption systems.
Paul Santos, Co-founder and Managing Partner of Wavemaker Partners, said global regulations are mandating that critical systems complete post-quantum cryptography migration by as early as 2030. pQCee’s suite of products simplifies that migration by reducing complexity in integration, procurement, and cost, the executive added.
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