Optalysys Raises £21M for Photonic Processing Technology Revolution
Optalysys, a Leeds, UK-based developer of photonic processing technology, recently announced that it has raised £21M in Series A funding. The funding round was led by Lingotto, imec.xpand, and Northern Gritstone. With this new capital injection, Optalysys plans to launch its groundbreaking technology on a cloud-based service model. The company aims to collaborate with system integrators and service providers to bring its technology to market and expand its team in England, Europe, and the US.
Co-founded by Dr.
Nick New and Robert Todd, Optalysys specializes in the development of photonic processing technology. One of their key breakthroughs is the creation of an advanced photonic semiconductor that accelerates a new form of secure processing called Fully Homomorphic Encryption (FHE). FHE allows encrypted data to be processed at similar speeds to unencrypted data, offering promising possibilities for deploying secure data applications across various industries such as finance, banking, manufacturing, healthcare, and machine analytics. Optalysys plans to release initial photonic systems through an Accelerator program prior to the production of high-speed Enable chips in less than two years.
FHE, a form of quantum-secure cryptography, eliminates the need to decrypt data before processing it. This allows confidential or sensitive information to be transmitted over untrusted networks or to be worked on by multiple parties without exposing the data itself. The development of Optalysys' photonic processing technology brings hope to the industry, as it enables the implementation of FHE at the scale required by industries with stringent security demands. With the support of their recent funding, Optalysys is well-positioned to revolutionize secure data processing and make significant contributions in sectors that heavily rely on data security.
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