1 The EIC Accelerator Project

The EIC Accelerator program, part of the European Innovation Council (EIC), is specifically designed to support groundbreaking innovations and technology startups across Europe. It provides financial assistance to high-risk, high-potential startups and small to medium-sized enterprises (SMEs) that are developing deep technology solutions. The program aims to enhance the competitiveness of European businesses by facilitating access to funding, mentorship, and networking opportunities.

Funding Structure of the EIC Accelerator

The EIC Accelerator offers a unique funding structure that consists of two main components: grants and equity investments.

Purpose and Impact on the Ecosystem

The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by addressing critical funding gaps that many innovative companies face. The program acts as a catalyst for innovation, allowing startups to transition from research and development to commercialization. By providing both grant and equity options, the EIC Accelerator encourages companies to take on the significant risks associated with developing groundbreaking technologies.

Moreover, the program fosters relationships with private investors by demonstrating the viability of the supported companies. The backing from the EIC serves as a signal to the market, increasing the likelihood of attracting additional funding from venture capitalists and other private sources. This symbiotic relationship enhances the overall financial sustainability and growth prospects of European startups.

Case Study: CRYPTO QUANTIQUE LIMITED and the QRYPTON Project

CRYPTO QUANTIQUE LIMITED, a UK-based company, emerged as a winner in the EIC Accelerator program with their project titled QRYPTON. The project focuses on developing Quantum SecuRe Cryptography to secure Internet of Things (IoT) devices in deep submicron nodes. This innovative approach aims to address the growing concerns regarding the security of IoT ecosystems, particularly in environments where data integrity is paramount.

Technology Background

The QRYPTON project leverages advanced quantum cryptography techniques to enhance the security of IoT devices. As the IoT landscape expands, the vulnerabilities associated with these devices grow increasingly apparent. Traditional cryptographic methods often fall short in providing the necessary level of security, particularly against emerging threats posed by quantum computing.

Quantum cryptography utilizes the principles of quantum mechanics to create secure communication channels that are theoretically immune to eavesdropping. The technology relies on the behavior of quantum particles, which enables the creation of cryptographic keys that are fundamentally secure. If an eavesdropper attempts to intercept these keys, the quantum state of the particles changes, alerting the legitimate users to the breach.

In the context of QRYPTON, CRYPTO QUANTIQUE aims to deploy this quantum-secure technology within deep submicron nodes, which are critical for the operation of many IoT devices. The focus on deep submicron technology enables the integration of quantum cryptographic solutions into compact, energy-efficient devices, thereby enhancing their security without compromising on performance.

Conclusion

The EIC Accelerator program serves as a vital resource for innovative companies like CRYPTO QUANTIQUE LIMITED, enabling them to advance their groundbreaking projects such as QRYPTON. By providing substantial financial support and fostering connections within the private investment community, the EIC Accelerator significantly contributes to the growth and sustainability of the European DeepTech startup ecosystem. Through initiatives like QRYPTON, the program not only enhances technological security but also positions European companies at the forefront of the global innovation landscape.

2 The Funding Rounds

# Crypto Quantique Limited: Funding Journey and Financial Growth

Crypto Quantique Limited is a London-based company specializing in quantum-based security solutions for the Internet of Things (IoT). The company has secured significant funding through various rounds to support its innovative technology that addresses end-to-end IoT security challenges.

EIC Accelerator Funding

In March 2023, Crypto Quantique was selected to receive European Innovation Council (EIC) Accelerator funding for its project "QRYPTON: Quantum secuRe crYptograPhy to secure IoT devices in deep submicrOn Nodes". The company was among 51 companies across the European ecosystem chosen in this funding round, which was announced on July 11, 2023. This particular EIC Accelerator call had a total budget of €261 million distributed among the winners.

Crypto Quantique received a grant-only funding package from the EIC Accelerator program. The exact amount of this grant has not been specified in the available information, but the funding is being used to support the company's research and development activities around their QDID (Quantum Driven ID) IoT solution, as well as commercialization efforts.

Previous Funding Rounds

Prior to the EIC Accelerator grant, Crypto Quantique had secured several rounds of private investment:

Seed Round (September 2019):

• Amount: $8 million (approximately £6.4 million)
• Lead Investor: ADV (Adventure Capital)
• Participating Investor: Entrepreneur First
• Purpose: To develop quantum-driven cybersecurity technology for IoT devices

Series A Round (July 2022):

• Co-led by Parkwalk Advisors and BGF
• Purpose: To integrate the company's hardware into existing semiconductor manufacturing processes and support the commercial rollout of its software solution

Additional Funding (June 2023):

• Amount: £6.0 million
• Round Type: Series A (possibly an extension or continuation)

Grant Funding (October 2023):

Unspecified amount

Support Program:

Intel Ignite program (non-financial support)

Total Funding

Based on the available information, Crypto Quantique has raised approximately $18.2 million in total funding across various rounds. This includes both equity investments and grants.

Company Mission and Technology

Crypto Quantique's core technology provides a dual hardware and software end-to-end solution to address current and future cybersecurity threats for IoT devices. Their unique technology enables a single chip to generate multiple, unique, unforgeable cryptographic keys on-demand that are:

• Never stored
• Resistant to most side-channel attacks
• Usable independently by multiple applications

According to CEO and co-founder Shahram Mossayebi, the company aims to revolutionize IoT security through quantum-based technology, making quantum-secured IoT a reality.

Management Team

The company's leadership includes:

• Shahram Mossayebi: CEO and co-founder
• Kumi Thiruchelvam: Chief Commercial Officer and co-founder (joined in 2019)

Market Opportunity

The IoT security market was estimated at approximately $16 billion in 2021, with potential to reach $36 billion by 2026, indicating significant growth opportunities for Crypto Quantique's technology.

No information about company valuation, exit events such as IPOs or acquisitions was available in the search results.

Sources: - Crypto Quantique Selected for European Innovation Council (EIC) Grant Funding

• EIC Accelerator 22 March Cut-Off - European Innovation Council
• EIC Accelerator winners and statistics March 2023 - Strata.team
• Crypto Quantique company information, funding & investors
• Crypto Quantique - raises Series A round - Parkwalk Advisors
• Crypto Quantique Raises $8M to Solve End-to-End IoT Security

3 The Press Releases

Crypto Quantique Limited: EIC Accelerator Winner

Crypto Quantique Limited, a UK-based company, has recently received funding from the European Innovation Council (EIC) Accelerator for its innovative work in quantum-based security solutions. This funding was awarded following the March 2023 cut-off, where Crypto Quantique emerged as one of the 51 winners out of multiple submissions.

Technology and Innovations

Crypto Quantique specializes in harnessing quantum tunnelling within semiconductors to enhance the security of IoT devices. Their technology focuses on developing quantum-secured IoT solutions, utilizing Physical Unclonable Functions (PUFs) that provide secure and regenerable random numbers. Recently, they introduced the TuRiNG randomness test suite, designed specifically for testing PUFs, which addresses unique challenges in semiconductor security.

Partnerships and Collaborations

• ADLINK Technology: Crypto Quantique is working with ADLINK Technology to simplify the secure boot process for industrial PCs using its QuarkLink security platform.
• RED Semiconductor: The company has partnered with RED Semiconductor to develop an advanced microprocessor chip incorporating quantum-based security for edge computing applications.
• ZARIOT and Kigen: They collaborated with ZARIOT, a cellular IoT connectivity provider, and Kigen, an eSIM vendor, to unveil a quantum-safe hardware root-of-trust for cellular IoT devices.
• Silicon IP Distributors: Crypto Quantique has established partnerships with IP distributors across the Asia-Pacific region to deliver quantum-driven chip security.

Funding and Awards

The EIC funding will support Crypto Quantique's research and development activities, particularly focusing on the commercialization of their QDID IoT solution. This includes plans to hire new staff, expand product development capabilities, and launch new marketing initiatives. Additionally, Crypto Quantique won the 'Cybersecurity' category at the IET's E&T Innovation Awards in 2021 for its work in harnessing quantum tunnelling for IoT security.

Team Updates

Daniel Schmeer, an IC Test & Verification Engineer at Crypto Quantique, was featured in the EW BrightSparks 2023 profile, highlighting his contributions to the company. The company continues to expand its team and capabilities with the support of the EIC funding.

Sources:

• EIC Accelerator winners and statistics March 2023
• Crypto Quantique Selected for European Innovation Council (EIC) Grant Funding
• Crypto Quantique is the 'Cybersecurity' winner at the IET's E&T Innovation Awards
• Newsroom - Crypto Quantique

4 The Technology Advancements

Crypto Quantique's Post-EIC Accelerator Advancements

Since securing EIC Accelerator funding in July 2023 for its quantum-secured IoT cryptography, Crypto Quantique has made significant strides in product development and market positioning. While no patents, scientific studies, or clinical trials are explicitly mentioned in recent announcements, the company has focused on commercializing its security architecture and expanding its technological portfolio.

Technological Improvements

• QRoot Lite Launch: In April 2025, Crypto Quantique introduced QRoot Lite, a lightweight hardware root-of-trust (RoT) IP block designed for resource-constrained IoT devices. The IP complies with the Trusted Computing Group’s MARS specification and integrates NIST-approved Ascon cryptographic algorithms for secure device identity provisioning, measurement, and attestation.
• Quantum-Driven Security Enhancements: QRoot Lite leverages Crypto Quantique’s proprietary Physical Unclonable Function (PUF) to generate unique device identities resistant to side-channel attacks. Its hardware footprint is optimized for microcontrollers (<25 Kgates with side-channel protection).

Market Demonstrations

Crypto Quantique actively promotes QRoot Lite for applications such as:

• Verified Boot Processes: Ensuring trusted code execution during device initialization.
• Secure Key Management: Enabling encrypted data storage and transmission for IoT sensors.

While specific customer pilots are not detailed publicly, the company emphasizes partnerships in Asia-Pacific regions to scale quantum-driven chip security globally, alongside existing collaborations with semiconductor firms like STMicroelectronics.

Strategic Developments Post-Funding

The EIC grant supported advancements in QDID (Quantum-Driven Identity), a silicon IP generating cryptographic keys using quantum tunneling effects. Though no new patents are disclosed post-2023, ongoing R&D focuses on integrating quantum-safe cryptography into deep-submicron nodes—a stated objective of the EIC-funded project.

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Sources
Crypto Quantique announces QRoot Lite – a lightweight root-of-trust
Crypto Quantique unveils QRoot Lite - New Electronics
Crypto Quantique Selected for European Innovation Council Grant
Crypto Quantique - STMicroelectronics Partner Profile
Crypto Quanticle Product Overview - Design And Reuse

5 The Partnerships and Customers

Crypto Quantique's Strategic Partnerships and Market Positioning Post-EIC Accelerator Funding Since securing EIC Accelerator funding in March 2023, Crypto Quantique Limited has expanded its global partnerships to strengthen its quantum-driven IoT security solutions. Below are key collaborations and their strategic implications:

Partnerships and Customers

• Xiphera: Partnered to combine Crypto Quantique’s Physical Unclonable Function (PUF) technology with Xiphera’s quantum-resilient cryptographic IP cores, creating hardware trust engines resistant to quantum attacks.
• ZARIOT and Kigen: Collaborated on a quantum-safe hardware root-of-trust solution for cellular IoT devices, integrating cryptographic RoT IP with eSIM technology.
• ITEC Limited: Appointed as distributor in Israel for IoT security products, enhancing regional market access.
• Asia-Pacific IP Distributors: Secured three unnamed partners in July 2024 to expand semiconductor security solutions across the region.

New Product Developments

• QRoot Lite: Launched in April 2025 as a lightweight, configurable root-of-trust IP for resource-constrained IoT devices.
• TuRiNG Test Suite: Open-source randomness analysis tool released in July 2024 to validate PUF-generated keys, addressing industry-standard compliance gaps.

Market Positioning and Technological Advancements

Crypto Quantique’s partnerships focus on:

These relationships enhance Crypto Quantique’s role as a provider of end-to-end embedded security solutions while enabling scalability through regional distribution networks and hybrid encryption frameworks.

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Sources
Crypto Quantique Newsroom | Xiphera Partnership Announcement | The Quantum Insider Company Profile

6 The Hiring and Company Growth

Team Growth and Hiring at Crypto Quantique Limited

Current Team Size and Headcount

Crypto Quantique Limited, based in the United Kingdom, has a relatively small team size with approximately 29 employees. This number is below the industry average, but the company has shown significant growth over the past few years.

Hiring and Team Growth

Since receiving the EIC Accelerator funding in March 2023, Crypto Quantique has likely continued to expand its team to meet the demands of its growing business. However, specific details about recent hires or open positions are not publicly available.

Recent Hiring and Key Positions

While specific recent hires or key positions filled by Crypto Quantique are not detailed, the company's focus on IoT security and quantum-driven solutions suggests a need for professionals in fields like cybersecurity, quantum computing, and engineering.

Impact of New Team Members

New team members will play a crucial role in helping Crypto Quantique scale and grow by enhancing its technical capabilities and expanding its market reach. The company's innovative products, such as QDID and QuarkLink, require a skilled workforce to develop and deploy these solutions effectively.

Changes in Management or Founding Team

There are no reported major changes in the management or founding team of Crypto Quantique. The leadership remains consistent with Dr. Shahram Mossayebi as CEO and Dr. Patrick Camilleri as VP of Operations.

Company Growth and Funding

Crypto Quantique has experienced significant growth, with a sales growth rate of 17% over three years, which is higher than the industry average. The company has raised a total of $8 million in funding, including support from the EIC Accelerator.

Future Outlook

With the EIC Accelerator funding and its innovative products, Crypto Quantique is well-positioned to continue its growth trajectory. The company's focus on scalable IoT security solutions aligns with the increasing demand for secure connectivity in the IoT sector.

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Sources: - Crypto Quantique – Scalable IoT Security

• About – Crypto Quantique
• Crypto Quantique - Products, Competitors, Financials, Employees
• Crypto Quantique Limited - Company Profile

7 The Media Features and Publications

Overview of Crypto Quantique Limited

Crypto Quantique Limited, based in the United Kingdom, is a leading provider of quantum-driven silicon IP and end-to-end security platforms for embedded devices. The company received EIC Accelerator funding in March 2023, marking a significant milestone in its journey to enhance IoT security.

Media Features and Publications

Since receiving the funding, Crypto Quantique has been featured in several media outlets and publications, highlighting its innovative approaches to IoT security. For instance, the company was covered in an interview with Embedded.com discussing quantum tunneling and physical unclonable functions (PUFs) as the future of IoT security. Additionally, it collaborated with ADLINK Technology to simplify industrial PC security using its QuarkLink platform.

Publications have noted Crypto Quantique's efforts in addressing the challenges posed by the Cyber Resilience Act (CRA), particularly in streamlining compliance processes for embedded engineers. The company also developed an open-source tool for testing PUF randomness.

Podcasts and Interviews

CEO Shahram Mossayebi has been a guest on several notable podcasts, including the Fish Fry podcast, where he discussed device security, cryptography, and how Crypto Quantique's solutions help developers ensure compliance with connected device legislation. In another podcast with The IoT Podcast, Mossayebi explored how the EU Cyber Resilience Act is raising the bar for IoT security.

Conferences and Presentations

Crypto Quantique actively participates in industry events. Notably, the company demonstrated its device security platform at Embedded World 2025, showcasing how it accelerates CRA-compliant development. These events highlight the company's commitment to advancing IoT security standards and compliance.

Involvement in Events

Crypto Quantique's involvement in conferences and fairs is aimed at showcasing its cutting-edge security solutions. The company's participation in Embedded World 2025 underscores its focus on integrating quantum-driven technology into embedded systems to enhance security and facilitate regulatory compliance.

Conclusion

Since receiving the EIC Accelerator funding in March 2023, Crypto Quantique Limited has continued to innovate and lead in the field of IoT security, leveraging quantum-driven silicon IP and end-to-end security platforms. Its media presence, collaborations, and active participation in industry events reflect the company's commitment to securing the future of connected devices.

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Sources

• Newsroom - Crypto Quantique
• Crypto Quantique – Scalable IoT Security
• Crypto Quantique releases lightweight root-of-trust IP
• Crypto Quantique publishes independent cetome analysis on CRA compliance with the QuarkLink security platform
• How Crypto Quantique is Changing the IoT Security - YouTube
• How is the EU Cyber Resilience Act Raising the Bar for IoT Security?
• Crypto Quantique - Infosecurity Magazine
• Xiphera And Crypto Quantique Unveil Quantum-Resistant Hardware Security Solution