Quantum Base Holdings (LSE:QUBE), a company using quantum science to tackle counterfeiting, is taking its bow on London’s AIM market today under the ticker QUBE, following a £4.8 million fundraising.
The Lancaster-based group is developing what it hopes will become a new global standard in product authentication.
Its core product, Q-ID, is a printed tag based on nanoscale randomness - so small and complex that it’s virtually impossible to copy, even with the most advanced technology.
These tags can be applied to a wide range of goods, from tax stamps to luxury items, without changing the product’s look or requiring any extra hardware.
Consumers and inspectors can check authenticity using just a smartphone and Quantum Base’s software.
The fundraising was made up of a placing with institutional investors and an oversubscribed retail offer, both priced at 23.1p a share. That gives Quantum Base an initial market value of £14.8 million.
The company has already signed framework agreements with two major security printers, targeting tax stamps as its first commercial market.
Proceeds from the float will go towards hiring, expanding its product range, and scaling up sales efforts across brand protection and government-focused applications.
CEO Tom Taylor said: "The success of the fundraise is a strong endorsement of our mission to cement ourselves as the new global standard in authentication which, in the face of a growing counterfeiting problem, is more important than ever.
"The funds raised will enable us to further accelerate commercialisation and expand into new product lines."