Aegiq has today announced that it secured seed investment from an investor syndicate led by High-Tech Gründerfonds, with participation of Deepbridge Capital and business angel investors. Together, with existing funding from Innovate UK, the seed investment brings Aegiq’s total available funding to over £3.5 million ($4.8 million). Having completed the first closing Aegiq is considering funds to join the second closing.
Aegiq is a spin-out of the University of Sheffield, founded by a team consisting of CEO Dr. Max Sich, CTO Dr. Scott Dufferwiel, and CFO Andrii Iamshanov. It had recently won the prestigious Institute of Physics Business Start-Up Award for the development of its breakthrough quantum photonics platform using proprietary deterministic single-photon sources.
Aegiq’s platform technology enables a range of new R&D applications in quantum science, sensing, imaging and others, and is ready to service this market. The technology will be also developed into a new generation of networking with quantum security, including quantum key distribution (QKD), as well as large-scale quantum computing applications.
Aegiq has been awarded funding for several projects supported by Quantum Technologies Challenge at Innovate UK (part of UK Research & Innovation), with total value of the funded consortia exceeding £20m. The funding includes QT Assemble – Integrated Quantum Technology Programme, and Innovate UK’s multi-million grant to develop secure quantum communications for fibre-optic and satellite based applications.
Sich commented: “Building reliable and scalable networking for the quantum era is the linchpin that is needed to truly bring to life the impact of quantum technologies, including quantum computing and also sensing. At Aegiq we are developing just this, and we are delighted to have High-Tech Gründerfonds and the syndicate support our vision. Our patented single-photon technology and novel integrated optics approach will allow us to offer next-generation quantum communications, unlocking new opportunities for our customers. The investment led by High-Tech Gründerfonds, alongside the other grants we’ve secured, will support our R&D and continue to elevate our offering.”
“The single photon source developed by Aegiq represents a platform technology with unparalleled specifications that enables various applications. As a photonics guy, I am more than thrilled to invest here and support the highly skilled team on their journey,” commented Dr. Gernot Berger, Investment manager at High-Tech Gründerfonds.
Aegiq (/ˈiːdʒɪk/, ee-jik) is using its pioneering single-photon and integrated quantum optics platform to build a new generation of networking and computing with quantum technology. This includes addressing the demand for next-gen fibre and satellite quantum communications, as well as driving further research and development in quantum computing and quantum optics using its advanced technology.
About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge more than 650 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected more than EUR 3.5 billion into the HTGF portfolio via more than 1,800 follow-on financing rounds. HTGF has also successfully sold interests in more than 150 companies.
Fund Investors in the public-private partnership include the Federal Ministry of Economics and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies.