Quantum Computers startup IQM raises €39m in Series A funding

Funding | Manufacturing | South East | Technology

IQM Quantum Computers (IQM), a European manufacturer superconducting quantum computers, today announced that it has raised €39m in Series A funding, bringing the total amount of funding raised to date to €71m.

This ranks among the highest fundraising rounds by a European deep-tech start-up within a year. MIG Fonds has led this round, with participation from all existing investors including Tesi, OpenOcean, Maki.vc, Vito Ventures, Matadero QED. New investors Vsquared, Salvia GmbH, Santo Venture Capital GmbH, and Tencent, have also joined this round.

“IQM has a strong track record of research and in achieving high growth. They continue to attract the best global talent across functions and have exceeded their hardware and software milestones. We are thrilled to lead this round and continue to support IQM as the company accelerates its next phase of business and hardware growth,” said Axel Thierauf, Partner at MIG Fonds, and Chairman of the Board of IQM.

IQM delivers on-premises quantum computers for research laboratories and supercomputing centers. For industrial customers, IQM follows an innovative co-design strategy to deliver quantum advantage based on application-specific processors, using novel chip architectures and ultrafast quantum operations. IQM provides the full hardware stack for a quantum computer, integrating different technologies, and invites collaborations with quantum software companies.

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