The funds complement additional funding from other private investors and will be used to accelerate growth.

Barcelona — Quside has been promoted by the Department of Business and Labor in Catalonia, through AVANÇSA (Empresa de Promoció i Localització Industrial de Catalunya) INNOVA funding lines. Avançsa has announced two new investments totaling €1.5 million into two innovative companies.. The second company is THE SOCIAL COIN, SL, responsible for the CITIBEATS project.

Global vision – High growth prospects

The INNOVA lines are a tool for public-private collaboration and aims at promoting high value-added projects in the region, with a global vision and high growth potential. These projects are part of the line “Innova Creixement”, intended to support the “Catalonia Exponential” initiative, which includes actions to promote the transformation of the business model of Catalan companies. This is related to sectors such as Blockchain, Artificial Intelligence, Machine Learning, Internet of Things (IoT), 5G and health. Previous investments include those performed by Avançsa into companies as Validated ID, Nexiona Connectocrats, Psico Smart Apps (PSIOUS), or Agroptima.

Quside ‘s next steps

Quside delivers quantum technologies for safer connectivity and advanced computation. The company is on a mission to scale the delivery of its quantum random number generation technology to enable emerging quantum-safe cryptographic technologies for cybersecurity and privacy and to accelerate so-called Randomized Workloads in a broad range of markets, including finance, insurance or logistics.

Now, Quside is consolidating its position in the quantum technology area with projects, contracts and agreements with national and international customers and partners. Quside is planning the launch of new random number generation products based on quantum technologies, more compact and with more advanced features tan available today