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€80M investment by EIFO and Novo Nordisk Foundation launches the QuNorth initiative to acquire the world's most powerful quantum computer.

Jul 17, 2025•3 days ago

Amount Raised

€80 Million

CopenhagenArtificial Intelligence

Investors

Novo Nordisk FoundationEifo

Description

EIFO and the Novo Nordisk Foundation are investing €80 million in the QuNorth initiative to advance quantum technology in the Nordic region. This investment aims to acquire the world’s most powerful commercial quantum computer. QuNorth will collaborate with Microsoft and Atom Computing to operationalize this ambition. The computer, named Magne, will significantly enhance Denmark's position in the global quantum race.

Company Information

Company

QuNorth

Location

Copenhagen, Capital Region Of Denmark, Denmark

About

QuNorth is a new Nordic quantum initiative focused on acquiring and operating advanced quantum computing technologies. It aims to address the lack of access to next-generation quantum systems in the Nordic region. By collaborating with major players like Microsoft and Atom Computing, QuNorth seeks to elevate Denmark's position in the global quantum race. The initiative emphasizes the importance of harnessing quantum technology for research and commercial advancements.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech