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Qspace has raised $1 million from Gazprombank to create quantum satellite communications in Russia

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QSpace Technologies LLC, a developer of satellite and atmospheric systems in the field of quantum cryptography, announced the closure of the seed round in the amount of 71.7 million rubles. The investor was Gazprombank— one of the largest commercial investors in quantum technologies in Russia.

Investments will be directed to the first phase of the creation of a small CubeSat satellite with a quantum key distribution system transmitter on board. In the future, the researchers plan to launch a small spacecraft into space using the transmitter as a payload. The launch of the satellite is scheduled for 2023.

Quantum key distribution (QCR) is a key technology in the field of quantum communications, which allows providing the highest possible level of information protection guaranteed by the laws of physics. KRK is already used in modern telecommunications to transmit confidential data, but today the key is transmitted via a fiber-optic cable, which limits it to a distance of 200 km, taking into account the requirements for generation speed. By the end of 2024, QSpace Technologies LLC intends to demonstrate a solution to the problem of limited range, using the satellite as a "trusted node".

QSpace Technologies LLC is a spin-off of the Russian Quantum Center, which in 2021 stood out from the developer of equipment based on quantum cryptography QRate, and a resident of Skolkovo (VEB.RF Group). It is the only company in Russia developing a satellite system based on small spacecraft.

Any space-related project is very capital intensive. Attracting a large investor will allow the startup to demonstrate the efficiency of the technology, and the use of small CubeSat satellites will do it for the minimum possible money. Such satellites, which have become widespread over the past 10 years, are mainly used as technical demonstrators of the capabilities of systems and equipment. — Valentin Tolstykh, QSpace Project Manager.
The QSpace project is an excellent proof that the Skolkovo participants are capable of developing in advanced areas of technology, such as deep tech. Indeed, the technology was previously demonstrated during an experiment conducted in China. Other space powers - the United States, Great Britain, India - also announce plans to develop quantum key distribution technologies. Here Russia has a chance to stay at the forefront of technological developments and demonstrate cutting-edge scientific developments for the whole world. It is also interesting that the research is funded by Gazprombank, which in the future may be interested in the practical application of secure communications technologies for its operations. — Ivan Kosenkov, Senior Project Manager in the direction of "Space Technologies" cluster of advanced production technologies of the Skolkovo Foundation.
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