Crypto Quantique and the EIC Accelerator: Chip Keys From Physics

Crypto Quantique, incorporated in London in 2016, licenses semiconductor intellectual property called QDID, a physically unclonable function that measures quantum tunnelling effects in standard silicon so each chip can generate its own identity and cryptographic keys, plus QuarkLink, software to provision and manage devices securely. It was selected in the EIC Accelerator's March 2023 cut-off for a grant-only award for QRYPTON, "Quantum secuRe crYptograPhy to secure IoT devices in deep submicrOn Nodes". In July 2023 chief executive Shahram Mossayebi said the funding "will allow us to accelerate the development of our QDID IoT solution and bring the IP to the mass market", according to Crypto Quantique. The release gave no amount.

As a UK company, its 2023 project does not appear in CORDIS, the EU database of funded projects, so no budget, timeline or report is public. Since the award the company has announced a partnership with Finnish IP firm Xiphera, a post-quantum upgrade of QuarkLink, a true random number generator added to its PUF block, and a lightweight root-of-trust IP in April 2025, according to its newsroom. It now pitches QuarkLink as a way to accelerate compliance with the EU Cyber Resilience Act. In April 2026 it announced a new QDID architecture integrated with Attopsemi's one-time programmable memory on TSMC's 12 nm FinFET process, according to Design & Reuse.

Where Crypto Quantique Stands Now

In the year to July 2025, Crypto Quantique's average staff fell to 22 from 28, cash fell from £3.00 million to £883,000 and net assets from £3.26 million to £1.24 million, according to accounts filed at Companies House. The pattern of cash rising after funding and falling the next year repeats since 2021. Between February and May 2026 it filed several share allotments and new articles of association, which show new capital coming in; no funding round has been announced.

The Technology: Identity From Quantum Noise

Connected devices need secret keys, which are usually injected at the factory and can be stolen. A physically unclonable function instead derives a key from random physical differences in each chip, so the key is never stored. Crypto Quantique's version measures quantum effects in standard silicon, and the company describes its PUF block as side-channel protected. It licenses the design to chipmakers rather than making chips itself.

What the EIC Award Promised, and What the Record Shows

Crypto Quantique's EIC record begins before QRYPTON. At the October 2019 cut-off of the EIC Accelerator pilot, under Horizon 2020, it was selected for blended finance for Crypto-Inside, "Quantum driven cybersecurity - advanced security for the Internet of Things". The grant project ran from May 2020 to April 2022 with an EU contribution of €1.67 million towards a total cost of €2.39 million, according to CORDIS, whose final report says it turned prototype hardware and software into "a fully integrated end-to-end IoT security solution" built on QDID and completed pre-commercialisation work. During the project, in February 2021, the company opened its QuarkLink device security platform to roots of trust from multiple vendors as well as its own, according to Design & Reuse. No EIC Fund investment has been announced: the July 2022 Series A was co-led by Parkwalk Advisors and BGF, so whether the equity part of the 2019 award was invested is not public.

The 2023 award promised quantum-secure cryptography for IoT devices built on advanced, deep-submicron chip processes. The April 2026 integration on TSMC's 12 nm FinFET process matches that aim. Without a public project record, what the grant paid for, and whether its objectives were met, cannot be checked. No licensee or unit volume has been disclosed.

1. Public record, 2023 projectNoneNot in CORDIS.
2. Advanced-node integrationAnnounced12 nm with Attopsemi.
3. New IP productsDeliveredTRNG, QRoot Lite.
4. Mass-market adoptionUnverifiedNo licensees named.

The Money

The amount of the 2023 EIC grant is not public. The accounts do not include a profit and loss statement, but net assets fell by about £2.0 million in the year to July 2025, a guide to the scale of spending over income. The 2026 share allotments show new shares were issued; the amounts raised have not been announced.

What Cannot Be Checked

Why Europe Should Care

The EU's Cyber Resilience Act will require connected products sold in Europe to meet security standards, and hardware roots of trust are one way to meet them. Crypto Quantique offers European and other chipmakers a tool for that. The EIC backed it twice; the report on the 2019 award is public, but there is no public record of what the 2023 support produced.

The Verdict

Crypto Quantique and the EIC have not been asked for comment for this article. It is based entirely on public records and published statements, linked throughout.