Press release

SpeQtral Announces $1.9M Seed Funding to Power the Next Generation of Secure Communications

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SpeQtral was formally announced today with initial funding led by Space
Capital.

Formerly known as S15 Space Systems, SpeQtral is building space-based
quantum communication systems rooted in advanced technologies developed
at the world-renowned Centre for Quantum Technologies (CQT), a Research
Centre of Excellence hosted by the National University of Singapore
(NUS). This quantum technology offers unprecedented security from
eavesdropping and will enable the next generation of secure
communication networks. SpeQtral has licensed from NUS the IP and
knowhow necessary to develop compact quantum light sources, and has also
hired former CQT researchers to its team.

SpeQtral’s $1.9 million seed round was led by Space Capital, the venture
fund of Space Angels, the world’s leading space investors. Space Angels
also participated in the round, as did Shasta Ventures, Golden Gate
Ventures and SGInnovate.

“It is a great honor to have Space Capital lead our investment round,”
said Chune Yang Lum, co-founder and CEO of SpeQtral. “Their vision and
support from Shasta, Golden Gate Ventures, and SGInnovate will be
immensely valuable as we bring our quantum technology to the world.”

“SpeQtral is a fantastic addition to our portfolio,” said Chad Anderson,
CEO of Space Angels and Managing Partner of Space Capital. “Their
technology has the capability to transform space-based communications
and we are excited to help them realize that potential.”

“I admire the SpeQtral team’s vision in launching a business for
space-based quantum communication. It is a pleasure to see colleagues
take this step to build from decades of research towards a global
commercial network,” says Artur Ekert, Director of CQT and co-inventor
of quantum cryptography.

“Quantum technology is an exciting frontier with limitless potential,”
said Steve Leonard, Founding CEO, SGInnovate. “The scientists behind the
formation of SpeQtral have done years of research in quantum
communication, and are now turning that research into a commercial
technology. We are thrilled to come in at an early part of their
journey.”

The round, which was oversubscribed, will give SpeQtral the capital
necessary to kick off a commercially-focused space-to-ground cubesat
quantum communication demonstration mission, expand the team and open
offices in Singapore and the United States, and develop further advances
in quantum communication technology.

About SpeQtral

SpeQtral is developing space-based, quantum communication built on
technologies developed at the Centre for Quantum Technologies (CQT) at
the National University of Singapore. The team has developed
technologies that harness the unique properties of quantum physics to
enable encryption methods that can secure communications with forward
security. SpeQtral is the only team with heritage from a successful
on-orbit demonstration of a quantum light source on a cubesat, and is
committed to bringing future-proof security to the commercial world.
Learn more at www.speqtral.space.

About Space Capital

Space Capital is a $25 million seed-stage venture capital fund led by
the world’s leading space investor and operator. We invest in the final
frontier of technology and growth and partner with pioneering founders
to solve the hardest problems on Earth and beyond.

About Centre for Quantum Technologies

The Centre for Quantum Technologies (CQT) is a national Research Centre
of Excellence in Singapore. It brings together physicists, computer
scientists and engineers to do basic research on quantum physics and to
build devices based on quantum phenomena. Experts in this new discipline
of quantum technologies are applying their discoveries in computing,
communications and sensing. The Centre was established in December 2007
with support from Singapore’s National Research Foundation and Ministry
of Education. CQT is hosted by the National University of Singapore and
also has staff at Nanyang Technological University. Learn more at www.quantumlah.org.