Insider Brief
- QuantumDiamonds has successfully raised €7 million in seed funding.
- The funding round was led by venture capital firms IQ Capital and Earlybird.
- Quantum Diamond executives say the funds will help scale up the company’s drive toward commercialization.
QuantumDiamonds, a Germany-based quantum sensing company, has successfully raised €7 million in seed funding, tech.eu is reporting. The funding round was led by prominent venture capital firms IQ Capital and Earlybird, indicating a significant interest in the company’s innovative approach to nano-scale imaging.
“We are at the forefront of revolutionising sensing technology through our work at QuantumDiamonds, advancing both semiconductor manufacturing and breakthroughs in other critical fields such as biology and chemistry on a global scale,” Kevin Berghoff, Co-Founder and CEO at QuantumDiamonds, told tech.eu. “The funding will enable us to move towards the launch of our first commercial product, supported by the expansion of our quantum engineering team. Our ultimate goal is to build a robust global quantum sensing platform that transcends boundaries and catalyses transformative advancements in various scientific disciplines.”
Specializing in the development of atom-sized quantum sensors, QuantumDiamonds is investigating the way magnetic fields are imaged, according to the news outlet. Utilizing defects in synthetic diamonds, known as nitrogen-vacancy (NV) centerds, the company’s technology provides a non-destructive method for capturing highly sensitive measurements at atomic and molecular levels. This cutting-edge technique could represent a significant leap forward in sensing technology, with potential to impact several industries drastically.
The core technology harnesses the unique properties of these NV centers to detect and measure various physical quantities with unprecedented precision. Such technology is not only crucial for the advancement of semiconductor manufacturing but also shows promising applications in medical diagnostics and battery development.
According to tech.eu, A working prototype is already in the testing phase with four of the world’s top semiconductor manufacturers, showing that QuantumDiamonds is making strides towards refining its product for commercial use.
The fresh influx of capital will help the team scale up operations and accelerate the hiring of quantum engineers, a critical step as the company transitions from prototype to product.
The €7 million Seed funding consists of a €3 million investment by a consortium of investors, including IQ Capital, Earlybird, Onsight Ventures, First Momentum, Creator Fund, UnternehmerTUM, as well as several angel investors with backgrounds in the semiconductor industry. Complementing the private investment, the European Innovation Council (EIC) Accelerator and the Bavarian state have contributed an additional €4 million in grant funding.
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