The British quantum technology company Aquark Technologies has raised a total of DKK 37 million to advance their quantum sensing technology. The investment marks the first ever investment in quantum technology by the NATO Innovation Fund (NIF) – and the first NATO DIANA cohort company to receive a direct investment from NIF.
The DKK 37 million investment is a joint investment by NIF, the Export and Investment Fund of Denmark (EIFO), the British early-stage Venture Capital Fund UKI2S and the European missile manufacturing company MBDA.
Aquark Technologies was among the six startups in the first cohort of quantum startups at Deep Tech Lab – Quantum, Denmark’s NATO DIANA accelerator site. On the investment in Aquark Technologies and the possibilities that the technology offers, Head of Tech & Industry Investments at EIFO, Jacob Bratting Pedersen states:
“Aquark Technologies has cracked a difficult quantum technology code and, as a result, has been able to develop and patent an entirely new way of manufacturing quantum sensors without a magnetic field. (…). From our perspective, there is potential here to address several critical societal issues while also making a good business.” (Source)
Aquark Technologies has developed and patented quantum sensing technology based on cold atoms for secure navigation with dual-use application potentials. The development of the new system has increased the availability of quantum sensors through reduction of size, weight, energy use and price.
Aquark Technologies selected for the phase II of the NATO DIANA program
Aquark Technologies is a part of the NATO DIANA (Defence Innovation Accelerator for the North Atlantic), an accelerator program aiming to advance dual-use innovation across the NATO Alliance and across key technologies, including quantum technology.
The first NATO DIANA cohort consisted of a total of 44 companies who participated in the program across the 22 22 sites in the NATO Alliance – with 6 startups being part of the Deep Tech Lab – Quantum accelerator at the Danish BioInnovation Institute in Copenhagen.
Throughout phase I of the NATO DIANA program, Aquark Technologies has delivered promising results to the degree that it has been selected as one of the ten companies from the cohort to advance to the second phase of the program. In phase II, companies receive EUR 300.000 from NATO DIANA to bring their products closer to the commercial markets.
On Aquark Technologies and the role of BII, CBO of Deep Tech Lab – Quantum, Cathal J. Mahon says:
“Quantum technology is a tool that can contribute to solutions in areas such as life science, national security, and green transition. That’s why we at BioInnovation Institute are porud to play a crucial role in helping companies like Aquark Technologies mature their technologies and bring them closer to market.” (Source)
Want to learn more about the DIANA program?
For further reading about DIANA: DIANA
For further reading about Aquark Technologies: Aquark Technologies
Photo by Esben Zøllner Olesen.
