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PRIVACY
Tech

Leeds firm Optalysys secures 拢21m investment to develop security technology

Optalysys has outlined plans to become a world in confidential data

Leeds technology company Optalysys(Image: Optalysys/Headlam)

A Yorkshire technology company has secured £21m of investment to develop a new form of secure computer processing.

Leeds-based Optalysys has confirmed the Series A finance round led by investment management company Lingotto, which includes funding from the Northern Gritstone accelerator. The investment will allow the company to advance its Enable photonic computing technology to unlock a new form of secure processing known as Fully Homomorphic Encryption (FHE), which aims to close vulnerability in cloud systems in a more efficient manner than current solutions.

Optalysys wants to become a world in confidential data, with its technology attracting the attention of financial institutions. Co-founders Dr Nick New and Robert Todd have been working in optical computing for more than 20 years, during which time they relocated from Cambridge to Leeds to draw on Leeds University’s expertise in the field.

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Dr New, who is also CEO of Optalysis, said: “Fully Homomorphic Encryption has the power to unlock the full value of data - but despite its advantages, it is currently unviable for anything beyond basic processes – this is where Optalysys comes in. Our Enable technology allows us to turbo boost the workflows and address the underlying bottlenecks that hold FHE back.

“It is a very exciting moment for Optalysys and it’s fantastic to have the backing of such prestigious deep tech investors to help us reach our goals. We have turned optical computing on its head. What’s more, FHE is just the starting point for where our technology can go.”

Ashish Kaushik, partner at Lingotto, said: “Optalysys presents a groundbreaking semiconductor technology to reduce energy consumption, boost processing power, and enhance data security. The capability to unlock the power of FHE with their photonic computing technology will enable new markets with advances in encrypted AI. We look forward to working with Nick, Rob, and the team to bring a new level of trust and security to how we use our data.”

Duncan Johnson, CEO of Northern Gritstone, said: “Optalysys has the Holy Grail of privacy technologies, providing a solution that will close the last major vulnerability in cloud and remote processing. Nick and Rob’s decision to move the company to Leeds validates Northern Gritstone’s belief that the thriving innovation hub in the North of England will attract fast-growing technology companies to the region. We are thrilled to support them in their journey as they seek to transform the data protection market and create another Northern success story.”