SBQuantum Closes Oversubscribed $4 Million Seed Round, Announces New CEO And U.S. Expansion
Summarize this article with:
Insider BriefPRESS RELEASE — – SBQuantum, the first company delivering quantum diamond magnetometers capable of providing accurate and timely data for threat detection applications in public safety, navigation and defense, today announces the closing of an oversubscribed $4 million USD seed round. The round was led by Quantonation and Quantacet, with participation from Investissement Québec. This represents the first private investment in the company, which was founded in 2017. This funding arrives at a pivotal moment.Quantum diamond magnetometers are highly sensitive and easily deployable sensors with real-world applications across multiple verticals including public safety and defense. These devices are used to improve security screening around controlled access facilities such as schools, sports venues or government buildings. They can also be used to replace or augment existing navigation systems, a function of major importance to the defense sector which is looking for resilient alternatives to global navigation satellite systems or GPS navigation in contested and degraded environments.“The timing of this investment reflects the growing urgency around resilient navigation and threat detection capabilities in both the defense and commercial sectors. Demand for alternatives to GPS is no longer theoretical, and it is being driven by real operational requirements in the field,” said David Roy-Guay, Founder of SBQuantum. “We believe that this group of investors, through their experience and know-how, have provided yet another important validation of our technology in the form of this funding. Their support will help us scale the company and disrupt new markets, one of many reasons we have now decided to work with outside investors after nearly 10 years in business.”The financing will be used to expand the team at SBQuantum and accelerate growth, with Eric Giroux joining as Chief Executive Officer. He brings with him a track record of founding and scaling deep tech companies, with over more than a decade in the security and defense sectors leading RaySecur Inc. This includes successfully commercializing sensor technology for applications in both the commercial and public sectors, as well as building global distribution networks and recruiting highly skilled technical and sales teams.“I have spent my career commercializing sensor technologies, and I can say with confidence that what the team at SBQuantum has built is exceptional. The technology is mature, the market need is urgent, and the timing is right for aggressive growth. The demand for resilient navigation and threat detection capabilities is accelerating rapidly, and I believe SBQuantum is uniquely positioned to become a global leader in this space” added Eric Giroux, the company’s new CEO.To accelerate growth in both markets simultaneously, the company has established Zero Drift Technologies, a sister corporation headquartered in Cambridge, Massachusetts. This structure was deliberately chosen to preserve and strengthen the company’s strong Canadian engineering base and intellectual property while creating a dedicated US entity dedicated to serving American government customers and major defense prime contractors. Rather than relocating or consolidating, the companies will operate in parallel, allowing each to focus on its respective market.“SBQuantum shows what happens when deep quantum physics meets a clear problem–market fit,” said Raphaël Bodin, an investor at Quantonation. “Their magnetometry platform combines advanced quantum sensors, sophisticated algorithms, and deployable hardware into a system designed for real-world environments. That positions SBQuantum to play a meaningful role as quantum sensing moves into industrial and security applications.”The team at SBQuantum possesses deep expertise in quantum sensing and geophysics which has enabled the company to secure over $15 Million in R&D contracts. Beyond the MagQuest challenge, this includes contracts with the Canadian Department of National Defense, European Space Agency and others. There is an ever-growing demand for accurate data and readings in these and other sectors, which the company is well positioned to address with solutions that can operate reliably, even in disrupted and contested environments.“SBQuantum has developed one of the most advanced quantum magnetometry platforms in the world, one that can be put to many uses. For Quantacet, the time was ripe for investing in this Canadian leader with a field-tested technology now ready to go to market just as we see great appetite for such solutions especially from the public safety and defense markets,” added Chloé Archambault, Partner at Quantacet.BCG estimates the global market for quantum sensing will reach $3 billion to $5 billion by 2030. The investment will be used to help accelerate execution of SBQuantum’s product roadmap going forward. This includes the continued expansion of the team and fast-tracking the development of its products. The company already has several customers and anticipates both the renewal of that business, as well as bringing a number of new customers into the fold during this next phase of its growth.Share this article:Keep track of everything going on in the Quantum Technology Market.In one place.