IQM, an Espoo, Finland-based Quantum Computing Technology startup, raised US$13M in seed funding.
Bakers included Matadero QED, Maki.vc, MIG Fonds, OpenOcean, Tesi (Finnish Industry Investment), and Vito Ventures.
The company intends to use the funds to build infrastructure, recruit talent, and expand collaborations with ecosystem partners. In conjunction with the funding, MIG Partner Dr. Axel Thierauf becomes Chairman; Ekaterina Almasque, a Partner with OpenOcean joins the board.
Led by Dr. Jan Goetz, CEO, Dr. Juha Vartiainen, COO, Prof. Mikko Möttönen, Chief Scientist, and Dr. Kuan Tan, CTO, IQM is a quantum computing startup developing high-speed quantum processors to reduce the error rates currently limiting quantum computers. With innovations in thermal management and other areas that influence computational speed and information accuracy, the company is advancing hardware systems which enable a large-scale quantum computing solution for practical applications.