IQM, the European leader in building superconducting quantum computers has raised EUR 128 million in a Series A2 funding round. The company will use the funding to expand its international business and accelerate product development, focusing on developing quantum processors to help tackle the climate crisis.
The funding round was led by World Fund, and it is the largest ever funding round raised by a European quantum computing company. In addition to new investors, the round included participation from existing investors too, including Tesi.
The funding round followed a EUR 39 million Series A1 announcement in 2020 and included part of a EUR 35 million venture loan from the European Investment Bank (EIB) announced earlier this year.
Juha Lehtola, Director, Venture Capital
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Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, together with co-investors, to create the world’s new success stories. Our investments under management total 2.4 billion euros. www.tesi.fi | @TesiFII