ID Quantique Raises €1MID Quantique Raises €1M

GENEVA, Switzerland -- id Quantique, a privately held company based in Geneva, Switzerland, indicates that it closed its first round of financing at the end of last year and raised EUR 1 million. The investment was subscribed by i2i, a venture capital fund based in Luxemburg. At the same time, id Quantique also concluded a worldwide exclusive license agreement with the University of Geneva covering two important patents relating to quantum cryptography. The university was granted a minority participation in the capital of the company. id Quantique also announces a profit for fiscal year 2003, its second year of existence.

id Quantique, a spin-off of the Physics department of the University of Geneva, was created in October 2001. It develops applications of quantum physics in the field of information security. It commercializes the first quantum cryptography system, allowing the implementation of secure communications over optical fiber networks with security guaranteed by the laws of quantum physics. " Quantum cryptography represents a revolution in the way communication secrecy is ensured. Its security does not rely on computing power limitations, but on physics " commented Prof. Nicolas Gisin, professor at the University of Geneva and one of the founders of id Quantique.

" We believe that id Quantique is uniquely positioned to become the leader in the implementation of novel secure networking systems based on quantum photonics. The funds invested by i2i, as well as the healthy financial situation of the company, will allow us continuing the development and commercialization of quantum cryptography products. The license for the University of Geneva patents means even stronger technological superiority. " commented Gregoire Ribordy, CEO of id Quantique.

id Quantique