Canadian cybersecurity startup Lastwall raises $16M to protect against quantum computer attacks
● 12 hours ago
New Brunswick cybersecurity firm Lastwall has raised $16 million to protect Canada against quantum computer attacks. The funding round was led by the Business Development Bank of Canada through its StrongNorth Fund, with participation from the New Brunswick Innovation Foundation, which made its largest single investment.
Lastwall's platform uses biometric credentials like face scans and fingerprints to secure critical infrastructure. Chief executive Karl Holmqvist warned that quantum computers capable of breaking current encryption could emerge in the 2030s, enabling attacks on banking, power plants, and hospitals.
The Canadian government has set 2031 as the target date for migrating high-priority systems to post-quantum cryptography. Lastwall, headquartered in Fredericton, plans to hire engineers and sales professionals, with 15 open roles currently.
Source: tj.news