Deal: Lander & Rogers has advised QuintessenceLabs, an Australia-based quantum cyber-security solutions provider, on its recent $30 million Series B equity fundraising.

Value: $30 million

Area: Finance

Key players: The Lander team was led by recently appointed, former KPMG Law special counsel Paul Mayson with support from highly regarded M&A and equity capital markets partner David Morris and senior associate Bree Taylor.

Deal significance: Investors in the Series B fundraising included CSIRO-founded Main Sequence, leading Canadian telco TELUS Corporation, US-based venture capital firm Chevron Technology Ventures, Terry Snow’s Capital Property Group, and InterValley Ventures, a Japanese-backed Australian venture capital fund.

Mr Mayson noted that he wasn’t surprised by the strong interest in QuintessenceLabs.

“Cybersecurity is a high growth market, especially in sectors like financial services, healthcare and defence, as a result of increasing internet penetration within developed and developing countries. QuintessenceLabs offers cutting-edge products to address complex cybersecurity risks,” he said.

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“With exponential growth in e-commerce and digital transformation, securing data against increasingly sophisticated cyber-attacks has never been more critical for governments and businesses. Cybercrime costs the Australian economy an estimated $3.5 billion per year, and is expected to cost the global economy over US$10 trillion per year by 2025.”

Market analysts report that the Asia-Pacific region is expected to be the highest-growing cyber security market in the near term, representing a significant opportunity for QuintessenceLabs.

QuintessenceLabs founder and chief executive Vikram Sharma acknowledged the importance of partnering with experienced legal advisers at this stage of its growth journey.

“We are highly appreciative of the support provided by the team at Lander & Rogers in helping QuintessenceLabs navigate through a complex transaction with multiple stakeholder interests,” he said.