Danish quantum technology company Sparrow Quantum has raised €4.1 million in seed funding. The funding round was led by the venture capital firm 2xN and includes co-investment from LIFTT and the European Innovation Council (EIC).
The investment will bring on the development of Sparrow Quantum products and services, expand its team, and strengthen its foothold in the market of quantum light-matter interfaces and next-gen single-photon sources for commercial quantum technologies.
"LIFTT is excited to invest in Sparrow Quantum and support their innovative technology in the quantum photonics field," says LIFTT’s CEO, Giovanni Tesoriere. "Their dedication to developing top-quality deterministic single-photon sources and light-matter interfaces has the potential to transform various industries, from quantum computing to secure communication. We look forward to seeing the impact of their work on the future of technology."
Sparrow Quantum has developed an on-chip single-photon source which provides long strings of more than 100 single photons without deteriorating quality and at a rate of more than 20 million single photons per second in fiber that the customer can directly deploy for, e.g., multi-photon quantum simulations or quantum key distribution experiments.
Sparrow Quantum's technology is the result of two decades of research by founder Prof. Peter Lodahl and his quantum photonics research group at the Niels Bohr Institute (NBI) in Copenhagen, Denmark.
"The support from our investors is evidence of our team's hard work and dedication and the potential of our technology," says Prof. Peter Lodahl, founder and CSO of Sparrow Quantum. "Thanks to this investment, we can continue to develop our single-photon source and accelerate its market entry. Moreover, we can start executing our roadmap of how to make our foundational technology the chosen approach in advanced quantum systems applications within quantum communication and quantum computing."
"We are thrilled to see the commercial potential of our research at NBI realised through Sparrow Quantum's groundbreaking technology. Their development of deterministic single-photon sources is a significant step forward in advancing quantum technologies, and we are proud to support their efforts to bring this technology to market,” says NBI Head of Department, Prof. Jan Thomsen.