Oct 8, 2024
In 2021, Canberra, Australia-based quantum cybersecurity startup Quintessence Labs received an investment from a rather unexpected place.
The startup, which develops solutions that use quantum technology to help companies protect sensitive data, received $25 million AUD in a round co-led by TELUS Global Ventures, the venture arm of Canadian telecommunications giant TELUS.
What was a Vancouver-based telecom company doing investing in an Australian deep tech startup? To Nazim Benhadid, Chief Technology Officer at TELUS, it’s one piece of a much larger strategy.
“At TELUS , we are constantly exploring and developing next-gen technology to power tomorrow’s smart cities and tackle some of society’s biggest challenges,” Benhadid explained. “Embracing cutting-edge technology like quantum computing is part of that work. We see the many exciting opportunities ahead, but there are also some risks. That’s why we are taking real steps now to safeguard our networks and data, ensuring we continue our longstanding history of global leadership in telecommunications networks.”