SandboxAQ Raises $500 Million to Tackle Quantum Security Threats
Alphabet spinoff SandboxAQ secures $500 million to build commercial products that combine artificial intelligence and quantum computing. The startup focuses heavily on helping enterprises and governments upgrade cryptographic defenses against future quantum attacks.
Alphabet spinoff SandboxAQ raises $500 million to develop commercial products that combine artificial intelligence and quantum computing. The startup targets computationally intensive sectors such as telecom, financial services, healthcare, and security. The team operates out of the tech giant for six years before officially spinning out last March.
A major focus for the company involves helping organizations replace current public-key cryptography with algorithms that resist quantum computer-based attacks. Quantum computing performs calculations at speeds far superior to classical computers, prompting the U.S. government to flag the technology as a critical priority for national security.
SandboxAQ already signs up more than 15 enterprise and government customers under the leadership of CEO Jack Hidary and Chairman Eric Schmidt. This massive funding round highlights continued strong investor confidence in quantum technology, as venture dollars in the sector remain near record levels despite broader market downturns.