Qvantum Valuation, Funding & Investors

Qvantum is valued at $347M as of January 2025.

Last Qvantum valuation

$347M

Series C · Jan 2025

Last Qvantum funding round

$96M

Series C · Jan 2025

Cumulative funding Qvantum raised

$141M

across 2 funding rounds

Key investors in Qvantum

  • Climentum Capital
  • DIG Investment
  • Munters Group
  • IMAS Foundation
  • Thomas von Koch
  • Mats Rahmström

Qvantum Overview

About Qvantum

Qvantum is a supplier of energy solutions emphasizing efficiency across residential, commercial, and industrial sectors. Headquartered in Sweden, the company delivers heat pumps, solar thermal systems, and district heating technologies. Qvantum serves clients in Europe with installations exceeding thousands of units annually. Founded in 2013, it partners with utilities for large-scale projects and maintains a strong presence in Nordic markets through optimized energy distribution networks.


Founded

1993

HQ

SwedenMalmö

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$347M (Jan 2025)

Qvantum Valuation

Qvantum is currently valued at $347M, based on its Series C in January 2025.

The $96M round was led by IMAS Foundation and Thomas von Koch, with participation from DIG Investment, NEA Partners, Munters Group, Mats Rahmström, SEB Greentech Venture Capital and 1 other investor.

Qvantum valuation by funding round

Qvantum valuation by funding round
DateStageValuation
Jan 2025Series C$347M

Qvantum Funding History

Qvantum has raised a total of $141M across 2 funding rounds.

Qvantum's first fundraising round was a $44M Series B in January 2023. The most recent completed round was a $96M Series C in January 2025.

Qvantum funding rounds

Qvantum funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2025Series CIMAS Foundation (lead); Thomas von Koch (lead); DIG Investment; NEA Partners; Munters Group; Mats Rahmström; SEB Greentech Venture Capital; Climentum Capital$96M$347MQvantum is a Swedish heat pump company developing next-generation electric heat pump systems and technology for sustainable heating, positioning as a challenger to Nibe in the growing European market driven by decarbonization efforts. The company completed a Series C funding round on January 7, 2025, raising approximately SEK 1 billion ($96.79M), with investors including IMAS Foundation, Mats Rahmström, Climentum Capital, DIG Investment, Munters Group, NEA Partners, and SEB Greentech VC, led by IMAS Foundation and Thomas von Koch. This round valued the company at SEK 3.3 billion post-money. A prior Series B round in late 2022/early 2023 raised €42M (also reported as €108M in some sources including €15M debt), led by Thomas von Koch and IMAS Foundation, with participation from Climentum Capital, SEB Greentech, and DIG Investment, to accelerate production, growth, and go-to-market for electric heat pumps. Funds from these rounds support scaling manufacturing and business volume, particularly in the multi-family segment. In a follow-on round reported later, Qvantum raised an additional SEK 220 million from existing shareholders including SEK 165M from Thomas von Koch and SEK 44M from IMAS Foundation, at a reduced post-money valuation of SEK 2.1 billion, as business volume ramps up. The heat pump market is projected to grow significantly, reaching $83.5B globally by 2026 at 9.5% CAGR.
Jan 2023Series BIMAS Foundation (lead); Thomas von Koch (lead); DIG Investment; SEB Venture Capital; Gullspång Invest; Munters Group; Mats Rahmström; Climentum Capital$44M-Qvantum Industries is a Swedish company developing next-generation electric heat pump systems and technology for sustainable heating solutions to decarbonize the heating sector and reduce reliance on gas and fossil fuels. The company completed a €42M Series B funding round announced around January 2023, with lead investors Thomas von Koch and IMAS Foundation, alongside participants including Climentum Capital, SEB Greentech, and DIG Investment. Funds were allocated to accelerate growth, production capacity, launch of new heat pumps, and go-to-market strategy amid a growing European heat pump market projected to reach $83.5 billion globally by 2026 at a 9.5% CAGR. Climentum Capital joined the board to support impact objectives. A separate SEK 260 million (about $23.4M USD) Series B extension occurred later to finance a factory purchase in Hungary. Later rounds include a €108M Series C with a €15M debt facility and a January 2025 Series C round of $96.79M involving similar investors like IMAS Foundation, Mats Rahmstrom, Climentum Capital, DIG Investment, Munters, and SEB Greentech.

Who has invested in Qvantum?

10 investors have backed Qvantum across its funding rounds, including Climentum Capital, DIG Investment, Munters Group, IMAS Foundation, Thomas von Koch and Mats Rahmström.

Lead investors include IMAS Foundation and Thomas von Koch.


Qvantum Investors

Investors in Qvantum by funding rounds participated
InvestorHQRoundsRoleFirst check
IMAS FoundationNetherlandsLeiden2LeadJan 2023
DIG InvestmentSwedenStockholm2ParticipantJan 2023
Munters GroupSwedenSweden2ParticipantJan 2023
Thomas von KochSwedenSweden2LeadJan 2023
Mats RahmströmSwedenStockholm2ParticipantJan 2023
Climentum CapitalDenmarkCopenhagen2ParticipantJan 2023
SEB Venture CapitalSwedenSweden1ParticipantJan 2023
NEA PartnersSwedenStockholm1ParticipantJan 2025

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Qvantum Competitors

Qvantum competitors include listed companies like Cloud Live Technology, Alfa Solar, Smart Gunes Enerjisi Tek and Ecoener, and private ones like HTEC Hydrogen Technology & Energy and Viridi Parente.

Public and private companies comparable to Qvantum
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HTEC Hydrogen Technology & EnergyCanadaVancouverPrivate--$386M-
Cloud Live TechnologyChinaChinaPublicly listed$50M($11M)$281M-
Alfa SolarTurkeyTurkeyPublicly listed$169M$10M$256M-
Smart Gunes Enerjisi TekTurkeyTurkeyPublicly listed$217M$49M$250M-
EcoenerSpainSpainPublicly listed$98M$51M$248M6.2x
Viridi ParenteUnited StatesBuffalo, NYPrivate--$700M-

Qvantum Public Comps

Qvantum is still privately-owned, but its public comps include Cosel, Aydem Yenilenebilir Enerji, IC Enterra, Ashtead Technology, Montauk Renewables, AirJoule, Akastor, Gevo, SINOTECH Co and BayWa.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Cosel$161M($13M)1.0x0.9x(11.9x)15.7x
Aydem Yenilenebilir Enerji$265M$75M3.1x2.2x11.0x5.7x
IC Enterra$86M$52M6.5x5.1x10.9x6.9x
Ashtead Technology$273M$107M1.9x1.9x4.9x5.1x
Montauk Renewables$176M$32M2.6x2.3x14.1x9.5x
AirJoule-($28M)-1481.6x(9.6x)(18.2x)
Akastor$42M($24M)8.1x8.0x(13.8x)21.4x
Gevo$161M$7M3.2x2.7x71.7x10.7x

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Common questions about Qvantum

When was Qvantum founded?Qvantum was founded in 1993.
Where is Qvantum headquartered?Qvantum is headquartered in Malmö, Sweden.
Is Qvantum publicly listed?No, Qvantum is a private, VC-backed company.
What is Qvantum's valuation?Qvantum was last valued at $347M in its Series C in January 2025.
How much funding has Qvantum raised?Qvantum has raised $141M across 2 funding rounds.
What was Qvantum's last funding round?Qvantum's last funding round was a $96M Series C in January 2025, led by IMAS Foundation and Thomas von Koch.
Who are Qvantum's investors?Qvantum's investors include IMAS Foundation, DIG Investment, Munters Group, Thomas von Koch, Mats Rahmström, Climentum Capital, SEB Venture Capital, NEA Partners, Gullspång Invest and SEB Greentech Venture Capital.
Which companies are comparable to Qvantum?Companies comparable to Qvantum include HTEC Hydrogen Technology & Energy, Cloud Live Technology, Alfa Solar, Smart Gunes Enerjisi Tek, Ecoener and Viridi Parente.

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