A Vancouver-headquartered company operating in the quantum computing space this week announced fundraising via private placement.
The recently rebranded Scope Technologies this month revealed the sale of three million shares at a price of $0.50 per share for a total $1.5 million private placement financing from First Majestic Silver Corp.
The capital will largely be used to pay back a $1M loan to First Majestic Silver, with remaining funds earmarked for development of Scope’s forthcoming quantum-tech mobile application.
The app will serve as a secure communication and file sharing platform powered by proprietary Entropy-as-a-Service technology, according to a statement from Scope. It enables “true round-trip encryption that is fully quantum-resistant—designed to protect data not only today but well into the post-quantum future.”
Fully integrated the rest of Scope’s stack of security offerings, the app aims to make enterprise-grade quantum resilience accessible to businesses and individual users alike.
“As quantum threats loom closer, businesses must act now to evaluate and strengthen their security infrastructure,” founder Sean Prescott stated last month.
Through its flagship brands QSE Group and GEM AI, Scope provides next-generation solutions across data security, quantum encryption, and neural networks, empowering businesses with secure and scalable technologies designed to drive growth and operational efficiency.
Scope recently established a partnership with Coegi Cloud AB—a provider of IT infrastructure, cloud solutions, and security services since 2004—as well as one with COGITO, a software distributor with reach across key markets like China.
“Working with Coegi marks an important step in our global expansion strategy,” commented James Young, who serves as chief executive officer of Scope Technologies. “This partnership aligns with our vision to empower organizations worldwide with secure, scalable technologies that protect their data now and into the future.”
Ad for COGITO, the firm’s “extensive reseller network and established market presence in China will provide a powerful platform to introduce QSE’s cutting-edge quantum security solutions to a broader client base,” according to Young.
Founded in 2018 by Prescott, who had been developing intellectual property for the venture since 2016, Scope Technologies is publicly traded.
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