Algorithmiq Raises $4M in Seed Funding

Algorithmiq, a Helsinki, Finland-based life sciences company leveraging quantum computing to solve currently inaccessible problems, raised $4M in seed funding.

Backers included Jorma Ollila (Nokia/Shell), Haakon Overli (Dawn Capital), Thames Trust (Lord Jim O’Neill), David Helgason (Foobar/Unity3D), Tiger Global, Feroz Dewan (Arena Holdings), Keenan Rice (Tokyo Black/LookerGoogle/Firebolt) and K5 Global and other European and US angels and entrepreneurs.

Led by Prof Dr Sabrina Maniscalco, Co-Founder and CEO, and Dr Guillermo García-Pérez, Co-Founder and CSO, Algorithmiq provides a novel quantum-enhanced drug discovery platform leveraging advanced algorithms to solve complex problems in life sciences. It combines expertise in quantum information, complex systems, and computational physics to develop algorithms that run on near-term quantum devices to discover new drugs and develop new materials.
Algorithmiq is agnostic to the physical qubit representation chosen and can be used for quantum chemistry simulations on all major quantum-cloud platforms (IBM, AWS, MFST, IonQ, etc).

Following the seed investment the board consists of Jorma Ollila (previously CEO then Chairman of Nokia, also Chairman of Shell) as Chairman; Prof Dr Sabrina Maniscalco Co-Founder and CEO; Dr Jussi Westergren, Science Co-Founder, and Haakon Overli, Founding GP at Dawn Capital.