Borrower Spotlight: EnSilica and the Threat of Quantum Decoding

Post-Quantum Cryptography is a growing market as the quantum computer approaches. Despite the fact that a quantum computer doesn’t exist yet, governments and businesses are already investing in cryptography methods that will protect today’s data from hackers in the future.

There is growing fear about hackers applying a ‘Harvest Now, Decrypt Later’ (HNDL) approach. This quiet method of hacking involves collecting encrypted data from highly secure sources such as governments and medical agencies. While the data is secured through modern encryption for now, the hackers plan to hold onto the valuable data until they are able to decode it – once quantum computing is possible.

The main targets of these attacks are agencies that hold secure but valuable data for long periods of time. Security, banking, critical infrastructure, and medical agencies are the most high-risk, but anyone with an online banking account, IOT devices, or medical implants should be paying attention to their security as quantum technology develops.

In 2024, the US National Institute of Standards and Technology (NIST) defined the security standards a device must meet to qualify as Post-Quantum Cryptography (PQC compliant), which are:

1. Kyber – for encrypting messages.
2. Dilithium – for verifying identities and digital signatures.
3. SHA-3 – a modern cryptographic ‘hash function’ that adds extra security.

These three systems use different technology to enable their features. Kyber and Dilithium are built on ‘lattice-based cryptography’, but they have different structures and performance needs, whereas SHA-3 is a ‘hash function’ – a completely different class of algorithm. Until now, companies have had to include combinations of the three pieces of hardware to protect their devices.

EnSilica, a world-leading Oxford-based chipmaker, has now created eSi‑CRYSTALS: the first unified PQC accelerator IP block that runs all three PQC standards – Kyber, Dilithium, and SHA‑3 within one optimised hardware core. This single piece of hardware provides complete post-quantum security in one package—cutting down on size, energy use, and costs compared to older, multi-component solutions. It is likely that the eSi‑CRYSTALS will be implemented in satellites soon, following an extended agreement worth up to US$28m between EnSilica and a satellite service provider, as well as being awarded £10.38m by the UKSA for satellite broadband terminal chips.

Ian Lankshear, CEO of EnSilica, commented: “The emerging PQC threat is not just theoretical. The implications are profound for those relying on today’s cryptographic schemes, which is why EnSilica’s PQC offering delivers future-proof hardware protection at the silicon level with minimal silicon area for mature and advanced technology nodes.”

Sprk Capital provided short term bridging funds to EnSilica in 2023 and 2024, giving the company the financial flexibility to accelerate the development and commercialisation of its eSi‑CRYSTALS. That early support helped EnSilica move faster than traditional timelines would allow, securing high-profile satellite contracts and further government funding at a critical stage in their growth.

Non-dilutive capital can empower deep tech companies to lead in emerging global markets long before mainstream investment catches up. With quantum threats on the horizon and global demand for post-quantum security rising fast, EnSilica’s unified hardware IP is well positioned to become a foundational part of secure digital infrastructure for years to come.

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