From University Research to the world’s most secure encryption and authentication
Innovation in Encryption: A Long Time Coming
The world of cybersecurity is at a tipping point. With the dawn of quantum computing on the horizon and cyberattacks growing in sophistication, businesses and governments alike are racing to protect their most valuable digital assets. But while the challenges are mounting, so too are the innovations that will define the next era of encryption.
At Cavero Quantum, the team is preparing to launch Symmetrikey, a revolutionary encryption and authentication protocol built on Reciprocal Kolmogorov Key Establishment. Backed by £2.2 million in seed funding, they’re working with partners across industries to bring quantum-safe, scalable security into real-world products. But to understand why Symmetrikey is so significant—and why now is the time to bring it to market—you have to go back more than a decade to its origins, in a research project at The University of Leeds.
A Breakthrough Born in Yorkshire
Cavero Quantum’s journey began not in a boardroom, but in the lecture halls and labs of The University of Leeds, where the foundations of Symmetrikey were first laid. Professor Ben Varcoe and his colleagues were initially exploring quantum key distribution (QKD)—a promising but hardware-heavy approach to encryption. However, an unexpected insight led to a breakthrough: could symmetric keys be generated securely without relying on quantum mechanics at all?
That idea took hold in 2011, sparking a flurry of emails between the team on Christmas Day. By 2013, it had become the focus of the PhD project of Frey Wilson, aimed at investigating whether the technology could be applied to satellite communications. With support from Airbus Defence and Space, the research gained momentum, exploring how the properties of randomness could be exploited in a way that made encryption both more secure and more scalable.
But like many innovations born in academia, the project remained theoretical for years—until the team saw its potential beyond the lab.
From Research to Reality: The Birth of Cavero Quantum
Fast forward to 2020, and what started as a university research project began its transformation into a commercial venture. With backing from the Cyber ASAP accelerator program—designed to help academic innovations reach the market—Cavero Quantum was officially born.
At this stage, the technology was still in the proof-of-concept phase, running in a controlled lab environment. But as industry interest grew, the urgency started to turn theory into practice.
By the end of September 2021, Frey was had the title of co-founder and Principal Engineer, while Ben was still operating as co-founder, and the team was ready to begin an intense period of development, validation, and business-building.
Securing Funding: A Defining Moment
Bringing cutting-edge security technology to market is no small feat—especially when it challenges conventional encryption methods. But as the industry grappled with the imminent risks posed by quantum computing, and the team put the work into building the business, investors began to take notice. To help capture that interest, by January 2023 Cavero Quantum brought on board James Trenholme and Andrew Wallace to help the business secure funding.
In late 2023, Cavero Quantum secured a meeting with Foresight, a prominent investment firm. The pitch took place at The Shard, a moment that felt like a make-or-break turning point for the intrepid team. Alongside Northern Gritstone, Foresight saw the potential, and over the next few months, a deal was finalised. By June 2024, Cavero Quantum had secured £2.2 million in seed funding, setting the stage for the next phase of their journey.
The Present: Building the Future of Encryption
With funding in place, Cavero Quantum has shifted into high gear. The team has expanded, prototyping is well underway, and industry pilots are beginning to take shape.
Symmetrikey is no longer just an academic breakthrough—it’s a commercially viable solution.
Unlike traditional encryption, which often relies on mathematical problems that quantum computers will soon be able to solve, Symmetrikey offers provable security through a completely new approach to key generation and authentication. It’s lightweight, scalable, and built to integrate into a wide range of industries—from financial services to defence to telecommunications.
Cavero Quantum’s leadership is also taking shape. Ben continues to play a key role in steering the technology’s development, while Frey, who has been involved since the earliest research stages, has now stepped fully into the role of CTO. Together, they’re guiding the company towards its next major milestone: real-world deployment. James is now the CEO, while Andrew remains as chairman.
The Road Ahead: Bringing Symmetrikey to Market
As 2025 stretches ahead of us, Cavero Quantum is setting its sights on its biggest challenge yet: getting Symmetrikey into the hands of real customers.
The team is working closely with early adopters to pilot a passwordless authentication prototype, with the goal of refining the technology into a market-ready solution. A Version 1 release is on the horizon, with a Version 2 already in the pipeline.
With its unique combination of scientific rigour, real-world applicability, and industry backing, Cavero Quantum is poised to make Symmetrikey a defining technology in the next era of encryption.
For businesses looking to future-proof their security, the time to act is now. Discover how Symmetrikey protects data, communications and transactions in a wide range of industries by clicking below.