PRESS RELEASE — Aegiq has announced that it secured significant investment from Black Quant and Quantum Exponential, as well as private angels. Together, with existing funding from Innovate UK and High-Tech Gründerfonds, the investment brings Aegiq’s total available funding to nearly £4 million, or about $4.8 million.
According to sources, the latest round brought in about $1.5 million.
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. The company, which has secured further funding from Innovate UK (part of UK Research & Innovation) this year, has also been previously awarded funding for several projects supported by Quantum Technologies Challenge, with total value of the funded consortia exceeding £20m.
Aegiq is accelerating development of its proprietary quantum photonics platform and growing its core R&D team. The technology is based on high-performance single-photon sources and enables a range of new applications in quantum science, including quantum communications, quantum computing and quantum enhanced imaging and sensing. In particular, Aegiq’s technology will provide significant performance uplift for quantum communications and QKD applications, as well as opening doors for large-scale quantum networking with quantum computing and new quantum information processing protocols.
“Aegiq’s technology platform based on single photon sources enables various applications from reliable and secure communication infrastructures to scalable quantum computing. Black Quant as a people focused quantum technologies investor is delighted to support the highly skilled team driving their quantum venture from lab to market leadership.”, said Michael Kott, General Partner at Black Quant.
“We are bringing our unique photonics technology to market, based on over 20 years of research, to unlock a whole new generation of applications, ranging from quantum computing to microscopy,” commented Dr. Max Sich, CEO of Aegiq. “We are delighted to have Black Quant and Quantum Exponential support our vision, where quantum data driven applications will play a significant role in our everyday lives. This investment will help us accelerate development of our unique portfolio of products for R&D customers, as well as drive our further product development in quantum photonics, quantum information processing and networking,”