Quantum Crypto Company Launches

Is it Magic? Is it Quantum? It's MagiQ! Bringing 'quantum physics to the business world' with $6.9M in seed funding

November 5, 2002

1 Min Read

NEW YORK -- MagiQ Technologies, Inc., the quantum information processing (QIP) company, officially launched today to bring advancements in the field of quantum physics to the business world. The company also announced that it has closed more than $6.9 million in seed funding to date from angel investors including Amazon.com founder and CEO Jeff Bezos, experienced Wall Street trader and MagiQ founder Robert Gelfond, Goldman Capital Management President Neal Goldman, Guaranteed Overnight Delivery Chairman Walter Riley, and other top executives from both the high-technology and Wall Street communities. The funding will be used to help launch the company's first commercial product in the second half of 2003, which will be a quantum cryptography solution, and to identify and acquire intellectual property in the field of quantum information processing (QIP). "The public unveiling of MagiQ is a major milestone for us, as we've been developing our quantum cryptography solution in stealth mode and acquiring related IP for more than two years," said Robert Gelfond, founder and CEO of MagiQ Technologies. "Quantum information processing is truly a disruptive technology and attracting this quality of capital demonstrates its potential impact on the future of computing. It's always challenging to move something out of the laboratory and into the 'real world,' so having these extraordinary resources at our disposal is invaluable as we move toward launching our first commercial product." MagiQ Technologies Inc.

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