logo
logo

European Deep-tech Champion IQM Receives More Than €20M of New Funding

Jun 11, 2020•over 5 years ago

Amount Raised

€20 Million

EspooManufacturing

Description

 IQM Finland Oy (IQM), a leading European company for quantum computer hardware, was just awarded a €2.5M grant and up to €15M of equity investment from the EIC Accelerator program for the development of quantum computers, benefiting the industry and the society at large. Together with Business Finland grants of €3.3M that IQM received so far, the company is on a fast run with more than €20M more raised in less than a year from its €11.4M seed round, summing in total to €32M.

Company Information

Company

IQM Quantum Computers

Location

Espoo, Etelä-Suomi, Finland

About

IQM is a global leader in building quantum computers. IQM provides on-premises quantum computers for supercomputing centres, enterprises, and research labs and offers full access to its hardware. IQM also has a quantum computing cloud offering “IQM Resonance.” IQM’s commercial quantum computers include Finland’s ongoing commercial 50-qubit quantum computer co-development project with VTT, IQM-led consortium’s (Q-Exa) HPC quantum accelerator in Germany, and IQM processors will also be used in the first quantum accelerator in Spain. IQM has over 300+ employees, with offices in Espoo, Madrid, Munich, Palo Alto, Paris, Singapore, and Warsaw.

Related People

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech