PQShield’s mission: securing the future against post-quantum threats

Its founder, Dr Ali El Kaafarani, identified the commercial potential of post-quantum cryptography (PQC) while working in Oxford’s Mathematics Department. With early support from Innovate UK and Oxford Sciences Enterprises, PQShield was established with a clear focus: developing futureproof cryptographic solutions to secure critical systems against the threat posed by quantum computing.

I caught up with Ben Packman, Chief Strategy Officer, PQShield at The Economist’s 4^th Annual Commercialising Quantum Global event in London.

Ben Packman, Chief Strategy Officer, PQShield

Packman joined shortly after the company’s Series A raise. Having originally been brought in as a consultant, he quickly recognised the opportunity and aligned with the company’s mission. Today, PQShield employs just under 90 people across 10 countries and houses one of the largest collections of specialist cryptographers, engineers, and postdoctoral researchers under one roof.

Driving standards and real-world implementation

PQShield contributed heavily to the National Institute of Standards and Technology (NIST) process to establish new post-quantum cryptographic standards. Its team co-authored several of the schemes selected by NIST and remains deeply involved in standards work through bodies such as IETF and ETSI. However, PQShield’s core mission extends beyond academic excellence to practical implementation.

“You can have a great algorithm,” said Packman, “but unless you implement it properly, the use case you’re trying to deliver can still be very insecure.”

This focus on real-world security led PQShield to specialise in side-channel and fault injection countermeasures – critical protections for devices such as banking cards and smart chips. These devices are physically accessible and vulnerable to advanced attacks using techniques like microwave probing and laser fault injection. By building secure implementations from the ground up, PQShield aims to stay one step ahead of attackers.

Three key areas of focus

PQShield’s work spans three main areas, each with distinct technical challenges:

1. Ultra-fast performance

In high-speed environments such as firewalls and data centres, cryptographic operations must process hundreds of thousands or even millions of transactions per second. Here, PQShield provides hardware-accelerated post-quantum cryptography, integrating with FPGAs and other system components to deliver the speed required.

“We’re seeing a lot of traction from big networking companies,” said Packman. “Some are capable of doing it themselves, but it takes them a year and a dedicated team. We offer an efficient alternative.”

2. Ultra-small footprint

With billions of IoT devices already in the field – many with poor or non-existent cryptographic protection – PQShield also focuses on extremely compact software libraries. Its post-quantum solution can operate with under 15KB of RAM, extending the secure lifespan of existing deployments without requiring hardware replacement.

3. Ultra-secure architectures

For applications requiring the highest level of trust, such as secure key generation and storage, PQShield offers a post-quantum root-of-trust IP. Crucially, this is not a legacy solution with PQC bolted on. It was purpose-built to support post-quantum maths and includes firmware upgradability to counter future attack vectors. “This gives our customers the ability to stay one step ahead.”

The evolving quantum landscape

PQShield has now been operating for six to seven years. Over that time, Packman has seen the quantum computing ecosystem grow and diversify. Major hyperscalers such as Amazon and Microsoft have entered the field, and new complementary technologies – from error correction to multi-system integration – have emerged.

However, he stressed that PQShield’s focus is not on quantum computing itself, but on protecting against it. “From a cryptography point of view, the timeline is becoming clearer,” he said. “With NIST announcing the deprecation of RSA and ECC by 2030, and banning them from 2035, we now have a defined 10-year window.”

A sensible approach to migration

The industry response to post-quantum migration has been mixed, with many CISOs still unsure of where to begin. Packman criticised the emphasis on ‘crypto inventory’ and ‘crypto discovery’ tools as a first step.

“Most CISOs don’t know one cryptographic tree from another, and they don’t need to,” he said. “Eighty percent of the cryptography in their organisation is in someone else’s budget.”

Instead, he recommended starting with a practical exercise:

• Identify the data that matters most
• Map the vendors that interact with that data
• Understand the depth of the dependency

“Most people end up with a list of 50 or 60 vendors,” he explained. “Big names like Cisco, Palo Alto, and Microsoft are usually at the top, but they’re a ‘when not if’ scenario. They have mandates and good cyber teams already working on it.”

At the opposite end are niche SaaS vendors, which may need encouragement to act.

What’s next?

The company has entered a full scale-up phase, with a clear focus on accelerating commercial growth. The technology is in place, the product portfolio has matured, and the team’s sights are now set on expanding market reach.

“Our challenge is covering enough ground,” he admitted. “For every one project I might hear about, there’s probably 10 more we want to be inside.”

This year marked the company’s first full year of commercialisation. A Series B round was completed last year, helping position the business well with a solid foundation and customer base. To date, the company has raised $65 million.

For PQShield, the goal remains clear: build robust, efficient, and adaptable cryptographic systems that prepare today’s infrastructure for tomorrow’s quantum challenges.