Startup Profile: MUNICH QUANTUM INSTRUMENTS
Munich Quantum Instruments (MQI) develops scalable, cost-efficient Superconducting Nanowire Single-Photon Detectors (SNSPDs) with multiple detector channels per chip. Their mission is to enhance the scalability and efficiency of quantum communication systems like Quantum Key Distribution (QKD) by making high-channel-count SNSPDs commercially viable.
Website: https://munich-quantum-instruments.com
Industry: Quantum Communication Hardware, Superconducting Nanowire Single-Photon Detectors
Founded: 2022
Headquarters: Germany
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Current SNSPDs are limited in scalability and are expensive, hindering the development and deployment of advanced quantum communication systems. There's a need for more scalable, cost-effective SNSPD solutions to meet the demands of industrial applications requiring high detector channel counts.
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MQI offers advanced SNSPDs featuring multiple detector channels per chip, utilizing innovative technologies like novel optical coupling, smaller chip designs, and electrical signal multiplexing. These innovations enable scalable, cost-efficient detectors that improve performance and reduce operational costs for quantum communication systems.
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As the quantum communication market grows rapidly, there's an increasing demand for scalable and efficient photon detection solutions. Technological advancements and over a decade of research enable MQI to address this market need with innovative SNSPD technologies.
FINANCIALS
MQI has secured EUR 1 million in non-dilutive grants (EXIST) and generated EUR 700,000 in revenue from pilot projects. With a monthly burn rate of EUR 70,000, they are financially sustainable through the end of 2025 based on projected revenues and plan to raise EUR 1.5 million in Q1/Q2 2025 for 15% post-money equity.
MARKET SIZE
The SNSPD market is projected to reach USD 1.6 billion by 2030, particularly driven by quantum internet applications. MQI aims to capture 50% of the Western market (excluding China and Russia), positioning itself as a leading supplier.
TEAM
The founding team includes CTO & Managing Director Rasmus Flaschmann, CPO & Managing Director Sven Ernst, and COO & CFO & Managing Director Andreas Vetter, supported by Chief of System Engineering Lucio Zugliani and Chief of Nano-Fabrication Christian Schmid. The team comprises three full-time founders, five full-time employees, and four part-time employees.
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They develop advanced SNSPDs with multiple detector channels per chip, featuring innovations like novel optical coupling processes, smaller chip designs, electrical signal multiplexing, and optimized shunt resistors. MQI is advancing towards a 64-channel detection system, significantly upgrading from current standards.
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MQI generates revenue through hardware product sales of their advanced SNSPD systems and components, targeting customers in quantum communication and photonic quantum technology sectors. They also consider licensing agreements and plan a step-by-step production scaling supported by non-dilutive grants.
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MQI competes with two main companies holding 30% and 20% of the market share but distinguishes itself by developing multi-channel SNSPD chips not yet available from competitors. Their technological innovations and cost-effective solutions provide a competitive edge in the market.