TAIPEI (Taiwan News) — Taiwanese start-up Chelpis Co. has secured US$2 million in the first round of funding as it works to develop solutions involving post-quantum cryptography and other security-related technologies.
The investment will be channeled into the development of algorithms and products against quantum computing-enabled attacks as well as privacy protection platforms. The fundraiser was led by I-Mei Foods CEO Luis Ko (高志明) and assisted with by the National Development Fund’s Business Angel Investment Program.
Chelpis will work to shield businesses from threats posed by vulnerabilities in encrypted communications and multi-cloud connection services. AORTA, a system developed by the company, has been touted as the next-generation security network that can optimize cybersecurity effectiveness and reduces potential losses from cyberattacks.
The start-up has seen its applications applied to multiple platforms in areas spanning vehicle telematics, 5G communications, and blockchain. Meanwhile, it is seeking to unlock the potential of its services in the fields of industrial control system security, satellite communication, and ransomware prevention, while pursuing strategic cooperation with overseas partners in quantum-proof algorithms and zero-trust security frameworks.
Founded in 2017, Chelpis is dedicated to developing cryptographic technologies that can be widely used in blockchain industries and key management systems. It has developed “Formosa Verse,” a blockchain platform in partnership with other industry players and the service is expected to be rolled out in the second quarter this year.