The Danish quantum company Sparrow Qauntum has raised โฌ21.5 million in a Series A funding round. The investment is led by PensionDanmark with strong backing from EIFO and Novo Holdings. According to a press release by Novo Holding this is the first investment Novo Holdings has made in a quantum technology company:
โWe are pleased to announce our first direct investment in the quantum sector with Sparrow Quantum. Photonic quantum technology holds significant promise for the future of quantum computing, and Sparrow Quantumโs approach has the potential to play a critical role in this evolving landscape. Our investment reflects Novo Holdingsโ commitment to supporting the quantum ecosystem in Denmark and fostering innovation that can lead to real-world impact.โ
– Jeroen Bakker, Partner, Seed Investments, Novo Holdings
It is expected, that the funding will enable Sparrow Quantum to accelerate the development and commercialisation of its state-of-the-art quantum chip technology:
โWith this investment, we can truly intensify our efforts to bring quantum technology from the lab to the market. The funding enables us to scale up in three critical areas: expanding our team with more technical specialists, accelerating the development of our chip, and establishing a professional production line. These steps are essential for industrialising our photonic quantum chips and ensuring we can deliver stable, advanced solutions to the market.โ
– Peter Lodahl, founder and CQO of Sparrow Quantum
The round is backed by Sparrow Quantumยดs existing (re-)investors: 2xN, LIFTT, and the EIC – European Innovation Council.
About
Sparrow Quantum is a spin-out from Professor Peter Lodahlโs research group at the Niels Bohr Institute. With 25+ years of groundbreaking research and nearly a decade of engineering expertise, Sparrow Quantum are dedicated to advancing the frontier of high-quality photon generation for quantum technologies. They specialize in light-matter interfacesโthe essential building blocks for scaling optical quantum technologies. At the core of their innovation is an on-chip deterministic single-photon source, a breakthrough technology that sets industry benchmarks and is trusted by quantum technology leaders worldwide.
Learn more at www.sparrowquantum.com
More Information
Read more at Sparrow Quantumยดs homepage here
Read the full press release by Novo Holdings here
