Participated · Series B · May 2023

Magic provides developers with an SDK that lets them add password-free authentication—spanning WebAuthn hardware keys, Face ID, fingerprint scans and more—with only a few lines of code. Launched in April 2020 after rebranding from Formatic, the tool integrates with modern frameworks to eliminate the security risks inherent in traditional passwords. The company reports a 13 percent month-over-month rise in developer sign-ups and a 6 percent weekly increase in identities secured, and customers already include Decrypt and Fairmint. Thirty employees currently work for Magic on a fully remote basis, and management plans to at least double headcount across product, engineering, design, marketing, finance, people and operations. Fresh capital will also be used to extend the SDK to low-code applications and workflow automations. Long term, Magic aspires to serve as “the passport of the internet,” decentralizing the web’s identity layer.

Participated · Equity · Dec 2018

KETS develops chip-based quantum-safe security products aimed at protecting data from quantum-enabled cyberattacks. Its core technologies include on-chip quantum key distribution to optically distribute secure cryptographic keys and quantum random number generators that harness quantum light for unpredictable randomness. The company was founded in 2016 by Chris Erven, Jake Kennard, Philip Sibson, and Dr. Caroline Clark and is based in Bristol. KETS raised £3.1 million in a funding round co-led by Quantonation and Speedinvest, with participation from Mustard Seed MAZE. The new funding will be used to accelerate development, production, and delivery of its products and to expand real-world testing. KETS positions its technology to secure cloud-stored banking and other sensitive information against a future generation of quantum attacks. KETS develops a suite of integrated quantum‑secured encryption technologies, including quantum random number generators and full quantum key distribution devices, intended for scalable, low‑SWaP deployment. The company positions its products as future‑proof against threats from quantum computers and says its systems have proven robust against both conventional and quantum attacks. KETS targets defence, telecommunications and critical infrastructure, with end users in finance, governments and data centres. The team aims to use these systems to become the digital security OS of the future and to boost security across aerospace, telecoms and other sectors. KETS was formed in the University of Bristol’s Quantum Engineering Technology Labs and is a partner in the UK National Quantum Technologies Programme’s Quantum Communications Hub. The company has pursued trials with major defence and telecommunications primes and plans to accelerate growth using the newly announced funding.