Arqit is a quantum encryption technology company that initially aimed to use satellites for quantum key distribution (QKD). Although they have shifted away from satellite-based QKD in favor of terrestrial solutions, they previously partnered with the European Space Agency (ESA) for the development of the QKDSat satellite. Arqit provides quantum-safe encryption solutions designed to protect data from current and future cyber threats, including those posed by quantum computers, and has collaborated with organizations such as BT, Northrop Grumman, and the UK Space Agency. Associated keywords include quantum encryption, key distribution, cybersecurity, and satellite communications.
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Spire Global and Arqit have valuations north of $1,000,000,000 as they work through SPAC mergers.
Stakes in the remaining four ventures—Spire Global, Arqit, Iceye, and D-Orbit—are set to be acquired by 2020-12-31, subject to the outcome of their ongoing fundraising activity.
QinetiQ Belgium has supported Arqit’s space mission since 2017 and is a participant in the FQS consortium.
Arqit expects the first FQS satellites to be launched on Virgin Orbit’s LauncherOne from Newquay in Cornwall in 2023 after the launch of the first commercial Arqit satellites.
Virgin Orbit’s role in Arqit’s plan includes providing responsive launch services for government customers from multiple locations.
QuantumCloud™ is Arqit’s product that creates software encryption keys and uses satellites to deliver quantum information to data centers.
Spire Global, Arqit and AST Space Mobile each received valuations of more than $1,000,000,000 in mergers with special purpose acquisition companies (SPACs).
Arqit is arranging for Virgin Orbit to launch the first Federated Quantum System satellites from the U.K. in 2023.
The Federated Quantum System will be based on a commercial managed services platform developed by British startup Arqit.
Arqit expects to raise $400,000,000 from its SPAC merger once it closes in the third quarter of 2021.
A SPAC merger involving quantum technology encryption venture Arqit on 2021-05-12 made Arqit the first U.K. space company unicorn valued at more than $1,000,000,000.
Arqit plans to merge with Centricus Acquisition Corp. in a deal announced 2021-05-12 that would raise $400,000,000 for two satellites in 2023 and aims to close by the third quarter of 2021.
British quantum technology encryption startup Arqit is raising $400,000,000 by merging with a special purpose acquisition company to launch two satellites in 2023.
The European Space Agency awarded Arqit a contract in 2019 to co-fund the development of its first QKDSat.
Arqit plans to launch two quantum satellites by 2023 to assume the role of originating source keys for its system.
Upon closing of the transaction, a newly formed Cayman holding company, Arqit Quantum Inc., will merge with Centricus, acquire Arqit, and register its shares for listing on the Nasdaq Stock Market.
The proposed transaction was unanimously approved by Arqit's board of directors and Centricus' board of directors and is expected to be completed by the end of the third quarter of 2021, subject to Centricus shareholder approval and satisfaction or waiver of closing conditions.
Arqit plans to launch two quantum satellites by 2023 to assume the role of originating source keys.
Upon closing of the transaction, Arqit Quantum Inc., a newly formed Cayman holding company, will merge with Centricus, acquire Arqit, and register its shares for listing on the Nasdaq Stock Market.
Arqit Limited developed QuantumCloud, a symmetric encryption technology designed to make communications links of networked devices secure against current and future forms of hacking, including attacks from quantum computers.