Chennai: Deep-tech startup QNu Labs has raised over Rs 350 crore, including Rs 200 crore in a Series A1 venture funding round led by the National Quantum Mission and venture capital firm Speciale Invest, and Rs 150 crore in convertible debt approved under the research, development and innovation (RDI) fund. It has secured Rs 375 crore in venture funding so far.QNu Labs will use a portion of the fresh capital to build a 2,000-km live quantum key distribution (QKD) network connecting Bengaluru and Delhi under the National Quantum Mission. The network will secure critical financial systems along the route.The IIT Madras incubated company builds quantum physics-based cybersecurity and communication hardware and software solutions. Countries are increasingly preparing to secure critical infrastructure and communications against the threat posed by full-scale quantum computers, which could break current encryption systems.“Enterprises and governments worldwide are preparing for the transition to quantum-safe infrastructure and India’s National Quantum Mission is setting an aggressive timeline of 2029,” said Sunil Gupta, co-founder, QNu Labs. Speaking to TOI, he said the company is building an indigenous quantum security platform for the Indian armed forces to secure forward bases, data centres and tactical communications.“We are actively engaging with 20 banks, as regulators are increasingly pushing for quantum compliance. We are also targeting and developing partnerships with telecom players, critical institutions and utilities, and with manufacturers to deploy chips onto drones and satellites,” he said.The National Quantum Mission has contributed Rs 25 crore through its IITM C-DOT Samgnya Technologies Foundation, a quantum communication thematic hub under the mission. VC participants include Gaja Capital, which invested Rs 35 crore, Sony Innovation Fund and Artha Ventures.QNu Labs plans to deploy the fresh capital to accelerate product development and scale sales in domestic and international markets, particularly in the US and Australia. Gupta said the US is a major focus and the company has established an independent US entity, driven by regulatory urgency.Gupta expects the company to grow at about 40% annually, with an objective to reach Rs 300-400 crore in revenue in the next few years. Its annual revenue stood at Rs 40 crore in FY25, according to Tracxn.
