WISeKey International Holding Ltd, a leading global cybersecurity, AI, Blockchain and IoT company, announces the signing of a strategic partnership with Synergy Quantum SA, a Swiss based quantum technology company that offers high impact Industry solutions using Quantum technologies, and has developed a technology that protects private data with post-quantum end-to-end encryption.
The purpose of the partnership is to offer the financial services industry two-factor authentication based on current and new post-quantum WISeKey semiconductors in combination with Synergy Quantum post-quantum encryption solutions.
WISeKey and Synergy Quantum will co-develop post-quantum NFC/ID card solutions for second factor identification and post-quantum encryption chips and software platform for PQE tunnelling solutions.
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Of note, in October 2021, Synergy Quantum SA signed a joint venture agreement with the I-Hub Quantum Technology Foundation, under the National Mission for Interdisciplinary Cyber Physical Systems, Ministry of Science and Technology, Government of India to provide its knowhow and skills for the productization and commercialization of co-developed technologies in the field of quantum sciences.
On December 15, 2021, India’s Union Cabinet approved the Semicon India Program (Program for Development of Semiconductors and Display Manufacturing Ecosystem in India), with an outlay of INR 760 billion (>US$10 billion) for the development of a sustainable semiconductor manufacturing ecosystem in India. According to the India Electronics and Semiconductor Association, semiconductor consumption in India was worth US$21 billion in 2019, growing at the rate of 15.1 percent.
Carlos Moreira, CEO of WISeKey stated: “WISeKey has a highly sophisticated supply chain that already covers a number of countries in South-East Asia, and through this partership intends not only to expand its geographic footprint and customer base in India but intends to extend its supply chain in the country as well.”
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India intends to build up capabilities for post-quantum security technologies identified under the National Mission on Quantum Technologies. Despite the importance of post quantum cryptography, there are currently only a few companies in India which provide quantum-safe products. This makes it imperative for the Indian government, and for Indian banks and industries, to ensure timely safeguards for the same. The Indian government has earmarked an outlay of Rs. 8000 Crores (1.2bn USD) over a period of 5 years for the National Mission On Quantum Technologies And Applications.
Jay Oberai, Founder of Synergy Quantum, stated, “The deep tech partership between Synergy Quantum and WISeKey will help India gain a leadership position in the development of Quantum technologies and secure semiconductor design and manufacturing.”
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