QuintessenceLabs raised $20 million in a funding round led by the National Reconstruction Fund. This funding will be used to expand manufacturing facilities and enhance international presence.

Canberra-based tech company QuintessenceLabs leads the funding round-up this week, with a $20 million funding round led by the federal government’s National Reconstruction Fund (NRF). According to the Australian Financial Review, the NRF is contributing $15 million to the round, which QuintessenceLabs says will support plans to expand its manufacturing facilities and international presence. A number of existing investors also participated in the round, including CSIRO-backed Main Sequence, InterValley Ventures, and the venture arm of Canadian telecommunications company Telus. Founded in 2005 by Dr Vikram Sharma, QuintessenceLabs specialises in quantum-enhanced cyber security tools.