StartupFox

QNu Labs has raised ₹200 crore, about $21 million, in a Series A1 round co-led by the National Quantum Mission and Speciale Invest, with Sony Innovation Fund, Gaja Capital and Artha Ventures participating. It takes total capital raised to ₹375 crore, which means this single round is larger than everything the company raised in its first ten years combined. Co-founder Sunil Gupta says roughly 80 percent of the money came from investors new to the company, several of them global.

The Bengaluru company was founded in 2016 by Sunil Gupta, Srinivasa Rao Aluri, Mark Mathias and Anil Prabhakar, and incubated at IIT Madras. It sells quantum-safe cybersecurity products through its QShield platform, spanning quantum random number generation, quantum key distribution and post-quantum cryptography, and has deployed across government, critical infrastructure and financial services. It operates a US subsidiary in Massachusetts, set up in 2019.

Filed accounts show operating revenue of ₹40.5 crore in FY25, up 64 percent year on year. Headcount is around 180, up from roughly 118 in August last year. Gupta describes the company as moving out of a technology development phase and into what he calls a proof-of-scale business.