IQM Raises €128M in Series A2 Funding 


IQM Quantum Computers (IQM), an Espoo, Finland-based builder of superconducting quantum computers, raised €128m ($128m) in Series A2 funding.

The round was led by World Fund with participation from Bayern Kapital, EIC Fund, OurCrowd, QCI SPV, Tofino and Varma, as well as existing investors, Matadero QED, MIG Fonds, OpenOcean, Salvia GmbH, Santo Venture Capital GmbH, Tencent, Tesi, and Vsquared.

The company intends to use the funds to expand its international business and accelerate product, with a focus on developing quantum processors to help tackle the climate crisis development.

Led by Dr. Sierk Poetting, Chairman, and Dr. Jan Goetz, CEO and Co-founder, IQM provides on-premises quantum computers for supercomputing data centres and research labs and offers full access to its hardware. For industrial customers, the company delivers a quantum advantage through an application-specific, co-design approach. IQM is building Finland’s first 54-qubit quantum computer with VTT and an IQM-led consortium (Q-Exa) is also building a quantum computer in Germany. This computer will be integrated into an HPC supercomputer to create a quantum accelerator for future scientific research.

IQM has over 180+ employees with offices in Paris, Madrid, Munich and Espoo.