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.
All verified mentions of this organization in source documents.
The proposed transaction is expected to provide up to $400,000,000 of gross proceeds to Arqit, comprised of $345,000,000 of cash held in Centricus' trust account (assuming minimal redemptions) and approximately $70,000,000 from a fully committed PIPE.
Seraphim Capital first invested in Arqit in its 2018 seed round and has invested in every funding round since.
Arqit is raising $400,000,000 through a SPAC deal to support the launch and construction of two satellites in 2023.
Arqit’s merger with Centricus Acquisition Corp. values the combined group at $1,400,000,000.
Arqit is the first U.K.-based space company to reach a valuation of more than $1,000,000,000.
Virgin Orbit invested $5,000,000 in Arqit’s SPAC deal.