ArQit lists on NASDAQ

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Arqit Quantum Inc a leader in quantum encryption technology announced the completion of its business combination with Centricus Acquisition Corp. a special purpose acquisition company on September 7, 2021. The...

Arqit Quantum Inc a leader in quantum encryption technology announced the completion of its business combination with Centricus Acquisition Corp. a special purpose acquisition company on September 7, 2021. The combined company will retain the name Arqit Quantum Inc. and will trade on Nasdaq under the ticker symbol “ARQQ”

Seraphim backed this company from seed in 2018. Over the past 3 years Arqit signed over $130 million in contracts, including deals with the European Space Agency, BT Group PLC, Sumitomo, and the U.K. government. Its pipeline comprises $975 million in contracts. The company has also partnered with Northrop Grumman and aims to launch its first quantum encryption satellites in 2023.

David Williams, Arqit Founder and Chief Executive Officer, stated: “Arqit has an important task ahead to protect the data of our government, enterprises and customers. We are certain that we invented the most important cyber security technology of the era. Our QuantumCloud™ software, already launched this month to the first 20 customers, will run very efficiently and fast on virtually any device, creating keys which are zero trust and secure against all computational attacks. When we upgrade the system in two years’ time with the launch of quantum satellites, the entire system also becomes fully quantum safe. It is overwhelmingly evident that the world needs stronger, simpler encryption. The completion of this transaction will enable Arqit now to fulfil its mission. We have raised cash equal to approximately twice of the funding requirement of the business, so our destiny is in our own hands”.

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