The company will implement a planned geographic and sectoral expansion strategy as the world starts to reopen around 2022, he mentioned.Īustralia's national science agency CSIRO recently released a report on Australia's quantum industry in which it forecasts an $86 billion global market size in the quantum industry by 2040. QuintessenceLabs deferred its growth plans to 12-15 months due to the uncertainty caused by a global pandemic, Sharma said. In parallel, QuintessenceLabs is developing partnerships in Japan and India, Sharma noted. that is also an ideal location for its EMEA headquarters, Sharma said, adding that it is in discussions with several U.K. In the first half of next year, QuintessenceLabs plans to set up an office in the U.K. ![]() is the second-largest cybersecurity market and somewhat similar to Australia in terms of market dynamics, legal systems and business culture, according to Sharma. over the next two to three years, Sharma said. is by far the largest cybersecurity market, QuintessenceLabs will continue to grow its team in the U.S. in 2013 with an initial team of three people to make a more significant commitment to the U.S.Īs the U.S. The Australia-headquartered company opened an office in the U.S. Department of Homeland Security, focused on strengthening data protection across participating agencies, Sharma told TechCrunch. In the last year, one of its significant achievements was making the approved products list for a $2 billion program run by the U.S. ![]() The company sells its product to global corporations, Sharma said. "We have spent more than a decade getting the technology right and preparing for commercial adoption," Sharma said. The market for this type of technology was small when QuintessenceLabs started in 2008, and it took time to mature and bring it to a commercial level, he said. QuintessenceLabs uses quantum physics to build data security tools and has developed qStream, a quantum random number generator (QRNG) that provides encryption keys with full entropy, which means they are truly random, Sharma explained. The devices operate by electrically stimulating the remaining retinal cells in patients with retinal degeneration.QuintessenceLabs will use the Series B funding to expand its customer base, including private and public organizations in financial services, cloud providers, government agencies and defense sectors globally, CEO and founder of QuintessenceLabs Vikram Sharma told TechCrunch. The BVT product pipeline consists of two generations of devices which aim to increase mobility and independence of patients and give increasing visual acuity. BVT’s shareholders include State Path Capital Limited, BVI, UOM Commercial Ltd, NewSouth Innovations, Bionics Institute, Centre for Eye Research Australia, NICTA IPR, The Royal Victorian Eye & Ear Hospital, Western Sydney University, and the Australian College of Optometry. BVT products are based on intellectual property generated by Bionic Vision Australia a national consortium that was supported by the Australian Research Council through its Special Research Initiative in Bionic Vision Science and Technology. ![]() BVT is developing suprachoroidal positioned retinal prostheses for restoring vision to the blind and the potential to slow the progression of retinal degeneration. ![]() Bionic Vision Technologies (BVT) is a privately held Australian company developing visual prostheses to restore vision to the blind.
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