Copenhagen-based Sparrow Quantum, a trailblazer in photonic quantum chip technology backed by the European Innovation Council (EIC) Accelerator scheme, has raised EUR 21.5 million in Series A funding. The round was led by PensionDanmark, with participation from the Export and Investment Fund of Denmark (EIFO), Novo Holdings, 2xN, LIFTT, and notably, the EIC.
The funding news come shortly after Sparrow Quantum met LIFTT — one of its main investors — at an Investor Day event organized under the EIC Investor Readiness and Outreach Programme, posing an exemple of the comprehensive support ecosystem available to EIC-backed innovators. This initiative, part of the EIC Business Acceleration Services, offers tailored mentoring, pitch refinement, and strategic introductions to investors, equipping deep-tech innovators with the tools necessary to attract investment and scale their ventures.
The investment in Sparrow Quantum underscores the growing confidence in Europe's quantum technology sector. Originating from research at the Niels Bohr Institute, Sparrow Quantum is commercialising single-photon sources, which function as essential components for scalable quantum computers. Its flagship product, the Sparrow Core chip, enables secure communications and faster data processing by harnessing the power of photons. These chips operate at room temperature and integrate seamlessly into existing electronic infrastructures, marking a significant advancement in practical quantum computing.
With this investment, we can truly intensify our efforts to bring quantum technology from the lab to the market.
says Professor Peter Lodahl, Founder and Chief Quantum Officer of Sparrow Quantum. The funding will enable the company to scale production, expand its team, and continue leading in photonic chip development while reinforcing Europe’s position in the global quantum race.
This achievement highlights the synergy between groundbreaking innovation and structured support mechanisms, illustrating how the EIC's comprehensive approach facilitates the growth of Europe's deep-tech startups.
Learn more here.
About the EIC Investor Readiness and Outreach Programme
This opportunity is brought to you by the EIC Investor Readiness and Outreach Programme, part of the EIC Business Acceleration Services (BAS). The programme aims to enhance the investor readiness of EIC Accelerator innovators by providing them with the necessary tools and knowledge to attract investment and scale their ventures. Once ready, the programme also provides introductions to the best investors in their sector through ePitchings and Investor Days.
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DISCLAIMER: This information is provided in the interest of knowledge sharing and should not be interpreted as the official view of the European Commission, or any other organisation.