The round accelerates the transition of QRNG technology from research to market, advancing the industrial development of Quantum Random Number Generators — a key component for next-generation cryptographic security and data protection in the post-quantum era

Milan, December 10, 2025 – Emerald Development Managers LP, a U.S. venture capital firm specializing in early stage deep tech and with extensive experience in advanced technological innovation, and Deep Blue Ventures (DBV), the Venture Capital fund specialized in deep-tech technologies and managed by Deep Ocean Capital SGR S.p.A., announce a strategic investment in Random Power (RaP!), an Italian deep-tech company redefining the foundations of digital security through quantum randomness.

Alongside the lead investors, the over €2.6 million (approximately $3M+) round saw the participation of a pool of strategic investors, including 40Jemz Ventures and Galaxia, the National Technology Transfer Hub for aerospace, created on the initiative of CDP Venture Capital’s Technology Transfer Fund together with Obloo Ventures. The operation marks a decisive step in building an international ecosystem capable of connecting scientific research, semiconductors, and cybersecurity, bringing together capital and expertise between Europe and the United States.

The investment aims to accelerate the transformation of quantum research into industrial infrastructure, supporting the commercialization of Random Power’s Quantum Random Number Generator (QRNG) platform and strengthening Europe’s leadership in the emerging field of quantum security, an area set to become one of the cornerstones of global digital security and technological sovereignty.

Random Power’s technology tackles one of the most critical and unresolved issues in modern cryptography: the quality of randomness. In a context where quantum computing and artificial intelligence are reshaping security standards, traditional random number generators remain the weakest link in the cryptographic chain. Developed within the European ATTRACT program coordinated by CERN and fully CMOS-compatible, Random Power’s solution translates quantum research into concrete industrial applications. It generates “numbers” with an extremely high degree of randomness, based on the fundamental laws of quantum mechanics, and embeds them directly into next-generation chips. This is a strategic resource to protect critical infrastructures, communication networks, IoT systems, and cloud architectures, paving the way for on-silicon quantum security and the large-scale deployment of future-proof technologies.

The funds raised will enable Random Power to complete its transition from research to industrial production, finalizing the industrialization and certification of its flagship products designed to translate quantum theory into practical digital security solutions. The first major result is a  QRNG ASIC, a quantum chip integrating quantum randomness directly into embedded and IoT devices — enabling a new generation of secure, scalable, and energy-efficient systems. The second is a 64x Multi-Generator Board, designed for data center and cloud environments, supporting applications such as Entropy-as-a-Service, post-quantum cryptography, and secure high-throughput data management. The new capital will also strengthen Random Power’s engineering and commercial teams, consolidate strategic partnerships in Europe and the U.S., and accelerate both market adoption and the growth of a quantum-physics-based digital security ecosystem.

“After several years of researching Post-Quantum Cryptography solutions, we chose to invest in Random Power because its breakthrough quantum technologies directly address the existential risk that quantum computing poses to the world’s most secure encryption,” said Charles Collins, Partner, Emerald Development Managers LP. “We believe Random Power’s unique, patented and elegant technology, which fights quantum with quantum, offers a superior combination of true nondeterministic randomness, smallest form factor, lowest power consumption, lowest cost, and easiest on-chip integration on leading edge technology developed for particle and photon physics and refined over more than a decade by Massimo Caccia and his remarkable team. Random Power arrives at a pivotal moment to counter bad actors and nation states aggressively deploying ‘harvest now, decrypt later’ strategies. The timeline for Q-day remains debatable, but the urgent need for quantum-safe encryption is not.”

“Quantum technologies today represent one of the most strategic and transformative frontiers in deep tech — not only for their computational power but for their ability to redesign the entire digital security infrastructure that will underpin our societies’ integrity and sovereignty in the decades to come,” said Domenico Nesci, CEO of Deep Ocean Capital SGR. “With Random Power, we are investing in the convergence of quantum physics, cybersecurity, and microelectronics – an area where Europe must build its own industrial and technological capacity to remain a key player. Our mission is to transform scientific excellence into industrial infrastructure, supporting companies that can truly become strategic enablers of Europe’s technological sovereignty.”

The investment in Random Power is part of Deep Ocean Capital’s broader strategy to strengthen a European deep-tech ecosystem spanning quantum technologies, photonics, cybersecurity, aerospace, and artificial intelligence. Through its Deep Blue Ventures and Deep Blue Ventures Space funds, the firm supports startups and spin-offs born from leading research centers, enabling the transition from scientific discovery to industrial scale and contributing to the building of a European technological leadership.

“We started-up supported by our enthusiasm and by the European Commission, developing an idea resulting by a pure act of serendipity up to a technology platform. Time was right to take off and we greatly appreciate the opportunity offered by our investors to do it, with support going much beyond a pure financial effort” says Massimo Caccia, C.E.O and co-founder of Random Power.

Random Power
Random Power is a quantum technology company developing on-silicon Quantum Random Number Generators (QRNGs) for applications in cryptography, privacy, artificial intelligence, and scientific computing. Its patented technology exploits the quantum properties of silicon to generate truly random numbers, offering on-chip entropy with NIST-compliant DRBG, AES-protected output, and continuous integrity monitoring. Random Power’s solutions are available both as CMOS-compatible ASICs for embedded and IoT applications and as high-performance Multi-Generator Boards for secure data center and cloud environments. The technology was developed with the support of European partners within the European Commission’s ATTRACT program (https://attract-eu.com, contract no. 101004462), coordinated by CERN, home of the Large Hadron Collider where the Higgs boson was discovered. www.randompower.eu. Random Power is a spin-off company of Università dell’Insubria in Italy, where Massimo Caccia (C.E.O. and co-founder) holds a chair in Experimental Physics and AGH-University of Krakow (Poland), where the core engineering team comes from.

Emerald Development Managers LP
Emerald Development Managers is an early-stage VC firm investing in elite scientific and engineering teams that are solving real problems. Investments are sourced from decades-long relationships with academic research institutions, operating managers, incubators, and like-minded VCs. Emerald’s expertise was developed over 30 years of funding venture capital and commercializing university research while simultaneously gaining invaluable experience founding, building, and operating an industrial unicorn that, to date, has returned over $1.2 billion to investors. In addition to capital, Emerald brings experience, discipline, critical thinking, financing expertise, and significant hands-on involvement to the companies it supports. Emerald’s three main investment focus areas are Materials / Industrial Tech, HealthTech / Bio, and Cybersecurity / Enterprise Software. www.emeraldmanagers.com

Deep Ocean Capital SGR S.p.A.
Deep Ocean Capital is an asset management company (SGR) specialized in deep-tech venture capital. It supports companies capable of turning scientific research into industrial infrastructure, contributing to the creation of a European technological sovereignty grounded in knowledge, competitiveness, and security. Through its Deep Blue Ventures (DBV) and Deep Blue Ventures Space funds, the firm invests in high-research-intensity startups and spin-offs in the aerospace, healthcare, and sustainability sectors, with a focus on artificial intelligence, photonics, cybersecurity, and quantum computing. Its mission is to bridge the gap between laboratory and market, fostering convergence between science, capital, and industry to reinforce Europe’s technological leadership. The Board of Directors includes Emilia Garito (Chairwoman), Domenico Nesci (CEO), Paolo Cellini, Marco Simoni, and Alessandro Commito — key figures in innovation, finance, and industrial policy. https://www.deepoceancapital.it/

40Jemz Ventures Spa
40Jemz is an investment holding company, capitalized by Ultra-High-Net-Worth Individuals, that concentrates its efforts on investing in the most promising early-stage startups, specifically those in the pre-seed and seed phases. The company’s core mission is to identify and support ventures that are capable of bringing true innovation and developing new solutions to existing, unsolved problems. With a corporate purpose officially centred on investing in high innovative content companies, 40Jemz operates with a sector-agnostic approach, deliberately building a deep and diversified portfolio. The firm is known for its “Founder friendly” philosophy and efficiency, committing to provide capital within 60 days of the first contact. 40jemz.com

Galaxia
Galaxia is the Italian Technology Transfer Hub on Aerospace, powered by CDP Venture Capital together with Obloo Ventures. Its mission is to promote the development of startups conceived within research laboratories specialized in the aerospace sector. The scientific promoters of Galaxia are Politecnico di Torino and Sapienza University of Rome, together with other leading Italian universities, including the University of Padua and Politecnico di Bari. NEVA SGR, the venture capital company of the Intesa Sanp aolo Group, and Compagnia di San Paolo Foundation are investors in the initiative. Obloo Ventures acts as the entrepreneurial partner and co -investor of the hub, managing the scouting, investment execution and portfolio monitoring. Along with Lazio Innova and the I3P Incubator of the Politecnico di Torino, Obloo Ventures also coordinates the business creation program, dedicated to startups originating from academic research and selected by the hub for seed investments. www.galaxia.vc