Legal Name: Qrypt Inc.
Location: New York City, NY
INDUSTRY – Quantum Cryptography
Size: $285.7 Mn in 2018
Projections: Estimated to grow to $943.7 Mn by 2022 at a CAGR of 27%
Qrypt is a New York-based startup that is reinventing how data is secured, stored, and transmitted using quantum cryptography. It claims that its encryption solution is capable of securing enterprises and private information networks in the present, as well as mitigating data security risks in the future.
Qrypt claims to have developed a one-of-its-kind and the only cryptographic solution that can secure information against attacks by quantum computers as well as any other future computational devices or mathematical techniques. It claims that the capabilities of its cryptographic solution are backed by mathematical proof.
Since its inception, the company has made strategic investments in companies developing high-grade quantum hardware and has partnered with U.S. national laboratories and global research institutes. Qrypt claims that it can create high-quality random keys at scale using multiple quantum entropy sources gathered as a result of these collaborations.
Qrypt recently licensed the Oak Ridge National Laboratory’s quantum random number generator (QRNG) which it has integrated into its existing encryption platform. It is using this QRNG to create unique and random keys to build communication systems which it claims would be virtually impenetrable.
Origin and Founding Team
Friends and former colleagues Kevin Chalker and Denis Mandich founded Qrypt in 2017 with the aim to protect data and privacy from present and future threats. The two co-founders sought to build a foundation for a modern approach to information security that could stand up to the threat posed by emerging technologies like quantum computing. The team at Qrypt includes experts from academia and industry such as physicists, engineers, and cryptographers, as well as veterans from the domain of government intelligence and cybersecurity.
Performance and Trends
We could not find any information in the public domain on the company’s performance or revenue. Qrypt was recently featured on Built In NYC’s list of 50 Startups to Watch in 2019.
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