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IQM Quantum Computers
Quantum computing company based in Espoo, Finland From Wikipedia, the free encyclopedia
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IQM Quantum Computers is a Finnish quantum computing hardware and software company headquartered in Espoo, Finland.[1][2][3] The company develops and commercializes quantum computers based on superconducting technology. Their goal is to become the leading European company in quantum computing hardware.[4]
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IQM Quantum Computers has secured a total of over €600 million in capital as of 2025, ranking among the most highly funded quantum computing companies in Europe.[5][6]
The company announced a €275 million Series B round in September 2025. This round was led by Ten Eleven Ventures, a U.S.-based cybersecurity-focused investment firm, and Tesi, Finland's state-owned investment fund. It was the largest quantum computing funding round in Europe and the fourth largest round ever for a Finnish growth company to date.[6][7]
The Series B round attracted a diverse group of investors, including Finnish pension funds such as Elo Mutual and Varma Mutual Pension Insurance, the European Innovation Council (EIC). Previous major private funding rounds included a €128 million Series A2 round in 2022 led by World Fund, which brought additional international capital and advanced the company's R&D and scaling activities.[8] Other early investors have included Maki.vc, OpenOcean, MIG Funds, Vito Ventures, and Matadero QED.[9]
Public and governmental funding has also played an essential role for IQM. Among the most significant national investments, VTT Technical Research Centre of Finland was awarded a €70 million government grant in 2024 explicitly to fund the 300-qubit quantum computer project, in which IQM acts as the technology provider.[10] Earlier, the Finnish state approved a €20.7 million grant in 2020 devoted to the construction of a 50-qubit quantum computer developed by IQM and VTT.[11] At the European level, IQM has received grants and equity investments through the EIC Accelerator, as well as loans from the European Investment Bank (EIB), which provided €35 million to support the development and commercialization of IQM's quantum processors and its Espoo-based chip fabrication facility.[12]
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