Nanotechnology: 3 Companies to Watch in Europe

February 12, 2024

In the field of nanotechnology, a fusion of sophisticated science and revolutionary technological advancements, several leading companies are driving significant transformations across healthcare, electronics, and materials science. This article showcases three exciting nanotechnology companies to watch in Europe that are making significant strides with their inventive work in the industry: Allegro, QuantrolOx and SPARTA Biodiscovery.

Allegro

Allegro is a life science company founded in 2021 and based in Belgium, focused on creating and bringing to market products that blend biotechnology and nanotechnology. It provides an innovative hydrogel injection solution designed to address the core mechanical issues of joints affected by osteoarthritis. This enables the development of a nanotechnology-based scaffold aimed at advancing the fields of orthopaedics, rheumatology, and regenerative medicine.

The company is currently working to secure EUR 15 million in venture capital as part of a fundraising round with an unspecified target, initiated on January 29th 2024. Previously, on May 10th 2023, they successfully raised EUR 5.5 million in venture funding through a round spearheaded by Noshaq and Annie Vereecken, which valued the company at EUR 54.5 million before the investment.

QuantrolOx

QuantolOx is an Oxford, UK based company founded in 2021 that creates sophisticated software for automated qubit management, catering to the quantum technology sector. This software aids in tuning, stabilising, and enhancing qubits, providing quantum researchers with a reliable foundation for extended experimentation. It also allows for the use of more cost-effective quantum computing resources. As a result, clients can seamlessly integrate conventional quantum computing technologies into their operations.

The company secured EUR 3 million in venture capital through convertible debt from the European Innovation Council Fund on December 19th 2023. Before this, on March 7th 2023, it had successfully raised EUR 3.5 million in seed funding, with Voima Ventures leading the round. Participants in this funding round included The Nielsen Company, 2xN, Hoxton Ventures, Serendipity Capital, and Oxford Science Enterprises. These investments are aimed at launching their qubit tuning software into the market. Additionally, in March 2023, the company was awarded EUR 10.7 million in grant funding from the European Innovation Council Fund.

SPARTA Biodiscovery

SPARTA Biodiscovery is a provider of analytical testing services for nanoparticles, serving the pharmaceutical and biotechnology sectors, founded in 2022 and based in London, UK. The company specialises in the analysis of various nanoparticle types that are utilised for both diagnostic and therapeutic applications.

Sartorius acquired a minority stake in the company, investing GBP 3.5 million in development capital on October 23rd 2023. This investment is aimed at enabling Sartorius’s customers to refine the design of nanoparticles at an early phase, prior to advancing drug candidates to clinical trials.

Published on 12-02-2024