Danish photonic quantum hardware company Sparrow Quantum has raised €21.5 million ($24 million USD) in Series A funding to scale production and commercialization of its deterministic single-photon source technology. The round was led by PensionDanmark with participation from EIFO (Export and Investment Fund of Denmark), Novo Holdings, and existing investors including 2xN, LIFTT, and the European Innovation Council. The funding builds on a €4.1 million seed round from 2023 and is intended to help meet growing market demand across Europe.
Sparrow Quantum’s core technology, the Sparrow Core chip, was developed out of research by founder Peter Lodahl at the Niels Bohr Institute. It emits on-demand, high-purity single photons and is a critical component for scalable photonic quantum computing. The new investment will support expanded chip production capacity, R&D into entangled photon sources, and team growth in preparation for market deployment. Lodahl emphasized that the funding enables industrialization of their chip platform with applications in quantum computing and secure communication.
PensionDanmark contributed DKK 75 million (~€10 million), the largest single amount in the round, and highlighted Denmark’s potential global leadership in quantum technology as a key driver for the investment. The capital raise totaled DKK 164 million, according to a parallel announcement by the pension fund. The investment aligns with broader efforts by Denmark to back strategic quantum ventures and retain value creation within Europe.
Sparrow Quantum chips are already in use by quantum computing developers and integrators across Europe, enabling faster performance and greater reliability compared to probabilistic photon sources. The company also aims to support European quantum supply chain sovereignty, in alignment with initiatives such as the EU Chips Act. The funding will allow Sparrow Quantum to grow its foundry partnerships, enhance quality control, and accelerate time-to-market.
More information is available from Sparrow Quantum’s official announcement here and a supplemental press release from PensionDanmark here.
April 10, 2025
