Danish startup Sparrow Quantum has successfully raised €21.5 million in Series A funding aimed at elevating the production of photonic quantum chips and enhancing Europe’s standing in quantum technology innovation. This investment, primarily led by PensionDanmark with significant support from organizations such as the Export and Investment Fund of Denmark and Novo Holdings, is a pivotal step in solidifying Europe’s role in the global quantum landscape.
Originating from academic research at the Niels Bohr Institute, Sparrow Quantum is at the forefront of developing deterministic single-photon sources, essential for scaling quantum computers. The Sparrow Core chip, the company’s flagship product, is engineered to provide photons on demand with remarkable reliability, stability, and efficiency, positioning it as a crucial component for scalable and commercially viable photonic quantum systems.
The new funding will facilitate increased production capabilities, expedite research and development of advanced quantum hardware, and enhance the company’s team of specialists in quantum photonics. This follows a previous €4.1 million seed round in 2023, paving the way for strategic growth as the global demand for quantum technology continues to rise.
Professor Peter Lodahl, the founder and chief quantum officer of Sparrow Quantum, expressed enthusiasm for the investment, stating it will enhance efforts to transition quantum technology from laboratories to the commercial sector. He emphasized the need to scale in key areas such as manufacturing, R&D for entangled photon sources, and team expansion.
This funding not only benefits Sparrow Quantum but also reinforces confidence in Europe’s capacity to excel in the global quantum race. PensionDanmark’s CEO, Peter Stensgaard Mørch, noted the investment as a means to support the Danish industry while ensuring sound returns on members’ pension savings.
Sparrow Quantum is making significant strides by collaborating with full-stack quantum computing systems integrators and developers across Europe. Its deterministic single-photon sources are expected to enhance quantum system performance, facilitating greater scalability and efficiency over traditional probabilistic methods. These developments are anticipated to have wide-reaching implications across sectors like artificial intelligence, advanced computing, and cybersecurity.
According to CEO Kurt Stokbro, the funding is a stride toward creating a robust regional ecosystem for quantum technology manufacturing. He highlights that this investment underscores Denmark and Europe’s readiness to lead in quantum innovations that benefit both society and the economy.
Support from both public and private investors aligns with EU goals, such as the European Chips Act, which aims to boost the continent’s technological sovereignty in critical sectors. By focusing on maintaining research, development, and production within Europe, Sparrow Quantum’s growth contributes to a resilient quantum supply chain essential for future advancements.
EIFO’s CEO, Peder Lundquist, pointed out the strategic importance of the investment, stating that it bolsters not only Sparrow Quantum’s position but also Denmark’s and Europe’s standing in the quantum technology domain, a critical area for maintaining competitive advantage in global innovation.
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