SEALSQ Corp, listed on NASDAQ as LAES, is broadening its reach in Saudi Arabia by partnering with WISeKey International Holding. This collaboration, through their joint venture WISeKey Arabia with the Juffali Group, aims to bolster Saudi Arabia’s digital transformation and cybersecurity efforts, aligning with the nation’s Vision 2030.
The focus is on deploying quantum-resistant cryptographic technologies such as Public Key Infrastructure (PKI), digital identity management, and IoT security solutions. A key element is the introduction of the WISeSat.Space ecosystem, offering a low-power secure satellite solution for IoT devices, ensuring end-to-end security with quantum-resistant encryption.
SEALSQ and WISeKey are also collaborating with Hedera as part of the DeepTech Venture Studio, a $250M initiative backed by The Hashgraph Association ($50M) and the Saudi Ministry of Investment Association ($200M). This initiative supports Saudi startups in blockchain, AI, IoT, robotics, and quantum computing.
This strategic expansion is designed to capture a share of Saudi Arabia’s ambitious tech investment landscape. By combining SEALSQ’s post-quantum capabilities with WISeKey’s infrastructure and local partnerships, the venture is well-positioned to introduce quantum-resistant cryptography to meet the growing demand for secure digital solutions.
The WISeSat.Space project addresses a critical need for secure IoT communication infrastructure, essential for smart city projects and industrial digitalization in Saudi Arabia. This satellite network offers low-power consumption and robust encryption, providing a competitive advantage in the expanding IoT security market.
Aligning with Saudi Vision 2030, the partnership with Hedera enhances SEALSQ’s position in the $250M DeepTech Venture Studio initiative, promising substantial opportunities for local startups. The Saudi Ministry of Investment’s $200M commitment underscores the government’s backing and potential for long-term contracts.
The venture is expected to generate significant revenue through the DeepTech Venture Studio, offering access to funding and technology licensing opportunities. WISeSat.Space’s deployment opens new avenues in the growing satellite IoT market, projected to reach $5.9B by 2025. The collaboration with Hedera further integrates blockchain into Saudi’s digital infrastructure projects, reducing risks and enhancing potential for government contracts.
Overall, SEALSQ’s expansion in Saudi Arabia is a strategic move to support the Kingdom’s digital transformation and economic diversification efforts, aligning with national initiatives such as the Centre for the Fourth Industrial Revolution and the Quantum Economy project.