Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Latest News

Novo Holdings commits DKK 1.4 billion (€188 million) to build a quantum technology start-up ecosystem



COPENHAGEN, Denmark, May 1, 2024 /PRNewswire/ — With Denmark as the centre of gravity, the ambition is to invest in, support and advance some of the world’s most promising quantum technology companies with applications in the life sciences.

The quantum industry, which develops novel technologies such as quantum computers or quantum sensing based on quantum physics, holds the potential to dramatically impact a number of industries, and in particular the life sciences. Quantum technologies are currently on a steep development trajectory, especially in the Nordics.

With the current momentum in Denmark, there is potential to establish a global innovation hub for quantum technology. To achieve this, a vibrant seed and venture capital investment ecosystem is essential – and that is exactly what Novo Holdings aims to accomplish.

Søren Møller, Managing Partner, Seed Investments, Novo Holdings, said:

“Quantum technology is a disruptive and transformative field that can revolutionise various sectors and address global challenges. Combining Novo Holdings’ longstanding experience in developing the life sciences ecosystem in the Nordics with the quantum activities and commitment from the Novo Nordisk Foundation provides a very powerful platform for building quantum startups. Our ultimate goal is to create, grow and develop strong quantum technology companies in the Nordics.”

Organisationally, Quantum Investments will be anchored with Seed Investments, where a new dedicated sub-team will be established.

The Quantum Investments team will focus on quantum computing, sensing, and algorithms – all areas that have relevant applications within healthcare, and a significant applicability within the broader life sciences sector. Geographically, Denmark has been identified as a promising quantum technology hub, building on a strong momentum and a heritage dating back to Niels Bohr. However, the investment mandate is global, so although Denmark will be the centre of gravity, Novo Holdings will potentially also invest beyond the Nordics.

The power of partnerships

Establishing a quantum technology hub in Denmark aligns with a number of recent initiatives by the Novo Nordisk Foundation, most notably the establishment of the Novo Nordisk Foundation Quantum Computing Programme (NQCP) that aims to establish one of the world’s first fully functional and generally applicable quantum computers and The Quantum Foundry, a limited liability company fully owned by the Novo Nordisk Foundation with the purpose of developing quantum materials and quantum chips as well as the associated fabrication tools.

Lene Oddershede, Senior Vice President, Natural & Technical Sciences, Novo Nordisk Foundation, said:

“There is a substantial demand for investments in the quantum space to harvest the potential of the emerging quantum technologies. A strong quantum ecosystem based on knowledge, networks comprised by all relevant partners, and with sufficient capital is instrumental to guarantee the further development and commercialisation of quantum research enabled by the Novo Nordisk Foundation, the Danish state, and the BioInnovation Institute’s (BII) Deep Tech Lab – Quantum. We foresee significant developments in this area, both imminently and over a longer horizon. Success, however, hinges on our ability to fully leverage the potential of the quantum technologies by realising the full value chain and establishing robust partnerships.”

The potential to develop and form new partnerships is part of the rationale for choosing Denmark as the anchor point for a quantum technology hub,given the country’s track record of successful public-private partnerships.

The Danish government has committed DKK 1.2 bn (€160 million) to quantum technology research. This, combined with the grants from the Novo Nordisk Foundation and other contributors, make Denmark’s per capita investments in quantum technology the highest in the world today.

Deep Tech Lab – Quantum  is likely to become another key partner. Operated by BioInnovation Institute (BII), it is Denmark’s official NATO DIANA accelerator site. Together with the Niels Bohr Institute at the University of Copenhagen, the Technical University of Denmark, Aarhus University, and the Danish National Metrology Institute, the purpose is to leverage Denmark’s world-leading research in quantum technology.

About Novo Holdings A/S

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation. Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S (Novozymes A/S) and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, Asia, Bioindustrial and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.  As of year-end 2023, Novo Holdings had total assets of EUR 149 billion. 

About the Novo Nordisk Foundation

Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society. 

View original content:

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

PB Fintech slips 2% after over 8 million shares change hands via block deal




PB Fintech witnessed a 2% decline in its stock price, reaching Rs 1,313.65 per share, as approximately 8.4 million shares, equivalent to 1.86% of outstanding shares, were exchanged via block deals on the exchanges. By 9:44 AM, the volume surged to 9 million shares collectively on both exchanges, while PB Fintech’s stock price dipped by 0.56% to Rs 1,333 apiece, contrasting with a 0.22% decline in the S&P BSE Sensex.

Executive Share Sales

On May 16, PB Fintech announced that its Chairman and CEO, Yashish Dahiya, alongside Vice Chairman and Whole-time Director, Alok Bansal, intended to sell partial stakes in the company. Dahiya plans to sell up to 5.4 million equity shares, while Bansal aims to divest up to 2.97 million equity shares. Proceeds from the sale will be allocated primarily towards taxes on current and future ESOP exercises.

Following the sale, Dahiya will retain a 4.83% stake, while Bansal will hold a 1.63% stake in PB Fintech on a fully diluted basis. The company clarified that no further share sales are planned by the duo for at least one year.

Company Profile and Financial Performance

PB Fintech is actively involved in providing integrated online marketing and IT consulting services, primarily for the financial services industry, including insurance. The company operates Policybazaar, India’s largest digital insurance marketplace, and Paisabazaar, which offers lending-related services.

In Q4FY24, PB Fintech reported a net profit of Rs 60.19 crore, marking a significant improvement from the Rs 9.34 crore loss in the corresponding period of the previous year. The company’s revenue from operations surged by 25.4% year-on-year to Rs 1,090 crore in Q4 FY24, compared to Rs 869 crore in Q4 FY23.

For the entire fiscal year, PB Fintech’s net profit stood at Rs 64 crore, contrasting with the Rs 488 crore loss in FY23. The company’s consolidated operating revenue rose by 34% year-on-year to Rs 3,437 crore.

Analyst Perspectives

Analysts at Nuvama Institutional Equities raised their FY25/26 Ebitda estimates significantly to accommodate higher growth and improved profitability. However, they maintained a ‘Reduce’ rating on the stock due to its rich valuation, revising their target price to Rs 1,160.

Keynote Capital downgraded PB Fintech’s stock to ‘Reduce’ from ‘Buy’, citing that most of the positives appear to be priced in. Despite acknowledging the company’s positive momentum and profitability, the brokerage believes that current market expectations may be overly optimistic.

PB Fintech continues to navigate its growth trajectory amidst strategic initiatives and evolving market dynamics, as reflected by varying analyst viewpoints.


The post PB Fintech slips 2% after over 8 million shares change hands via block deal appeared first on HIPTHER Alerts.

Continue Reading

Latest News

US fintech Yendo secures $165m in mix of debt financing and equity




Yendo, a prominent fintech company based in the United States, has successfully secured $165 million in funding through a combination of debt financing and equity investment.

Funding Structure

The funding round comprised a mix of debt financing and equity infusion, highlighting investors’ confidence in Yendo’s growth prospects and business model. This significant financial injection underscores Yendo’s position as a key player in the fintech sector.

Investment Highlights

Yendo’s ability to attract such substantial investment underscores its appeal to investors. The company’s innovative approach and strategic positioning within the fintech landscape have positioned it for accelerated growth and market expansion.

Utilization of Funds

The newly raised capital will likely be deployed to fuel Yendo’s expansion initiatives, including product development, market expansion, and strategic acquisitions. The infusion of funds will provide Yendo with the financial resources needed to capitalize on emerging opportunities and consolidate its market position.

Market Impact

Yendo’s successful funding round is expected to have a positive impact on the broader fintech market, signaling investor confidence in the sector’s growth potential. The influx of capital into Yendo reflects the ongoing trend of significant investment activity within the fintech industry, driven by increasing demand for innovative financial solutions.


The post US fintech Yendo secures $165m in mix of debt financing and equity appeared first on HIPTHER Alerts.

Continue Reading

Latest News

Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub




Commerce Bank, headquartered in Kansas City, USA, has recently activated the FedNow instant payments service as part of its ongoing modernization efforts.

Collaboration with Temenos

Commerce Bank has partnered with Temenos, a leading Swiss vendor, to enhance its real-time payment capabilities. This collaboration builds upon Commerce Bank’s previous deployment of Temenos’ core banking platform in 2022 and its adoption of the Infinity loan origination solution earlier this year.

Utilization of Temenos Payments Hub

Commerce Bank has opted for the Temenos Payments Hub to integrate the FedNow service seamlessly. According to Temenos, this choice aims to amalgamate advanced banking products with cutting-edge delivery methods.

Insight from David Roller

David Roller, CIO of Commerce Bank, views this selection as a strategic step in their modernization journey. He emphasizes the bank’s commitment to meeting the evolving expectations of its customers by leveraging the capabilities offered by the Temenos platform.

Features of the Platform

The Temenos Payments Hub, delivered via Software-as-a-Service (SaaS), offers a comprehensive suite of payment tools and frameworks. These include features like straight-through processing, automated exception handling, cloud security measures, intelligent routing, and customizable workflows.

Leveraging the US Model Bank

In addition to the Temenos Payments Hub, Commerce Bank has also leveraged Temenos’ US Model Bank. This collection of pre-configured banking processes is tailored to address the specific requirements of the US market, further enhancing Commerce Bank’s operational efficiency and customer service.


The post Commerce Bank goes live with instant payment service FedNow through Temenos Payments Hub appeared first on HIPTHER Alerts.

Continue Reading