Espoo, Finland, 22 July 2022 – IQM Quantum Computers (IQM), the European leader in building superconducting quantum computers, is announcing today it has raised €128 million ($128m) in Series A2 funding led by World Fund to expand its international business and accelerate product development to tackle the world’s most pressing problems.
The funding, which follows a €39m ($39m) Series A1 announcement in 2020 and includes part of a €35m ($35m) venture loan from the European Investment Bank (EIB) announced earlier this year, makes it the largest ever funding round raised by a European quantum computing company. The round included participation from Bayern Kapital, EIC Fund, OurCrowd, QCI SPV, Tofino and Varma, as well as existing investors Maki.vc, Matadero QED, MIG Fonds, OpenOcean, Salvia GmbH, Santo Venture Capital GmbH, Tencent, Tesi, and Vsquared.
IQM will use the funding to expand international business and accelerate product development, with a focus on developing quantum processors to help tackle the climate crisis.
– IQM is the leading European startup building superconducting quantum computers for HPC centers, research institutes and businesses across the continent.
– In the future, quantum computing could help to solve complex problems at faster speeds than classical computers for anything from drug development to predicting financial markets.
– The closing of this round is the largest raised by a European quantum computing company.
Dr. Jan Goetz, CEO and Co-founder of IQM Quantum Computers, said: “This funding underscores the importance of our mission: building quantum computers for the well-being of humankind. It also demonstrates the confidence in our business model and the continued trust in our team’s ability to build the future of quantum technologies. I am confident that we will continue to achieve all our product and business milestones and deliver world-class quantum computers to our customers.”
Dr. Sierk Poetting, Chairman of IQM Quantum Computers, said: “This financing round is a significant milestone that recognizes our recent technological milestones and contributes to the acceleration of IQM’s development efforts. We value the continued participation of our existing investors and welcome new investors to this powerful syndicate.”