Mig fund leads Euro 39 million financing round at IQM Finland Oy
Finland — IQM Quantum Computers, the European leader in the development and manufacture of superconducting quantum computers, secures EUR 39 million in a new round of financing. This brings the total amount raised to date to EUR 71 million — one of the highest amounts raised by a European deep tech start-up in a single year.
Lead investor MIG led the round of existing investors, including Tesi, OpenOcean, Maki.vc, Vito Ventures and Matadero QED, as well as new investors including Vsquared, Salvia GmbH, Santo Venture Capital and Tencent.
Headquartered in Helsinki with a second office in Munich, the deep-tech company supplies commercially available quantum computers for research laboratories and supercomputing centers. The high-performance computers are expected to solve extremely complex computational tasks within hours — a task that previously took several years. Through a unique co-design approach, IQM provides quantum benefits to industrial customers through application-specific processors. The company thus supplies the complete hardware stack for a quantum computer, which integrates various technologies and enables cooperation with quantum software companies.
Quantum computing is still in a relatively early stage of development, but experts say it will gain elemental importance in the coming decade, making major breakthroughs in healthcare, logistics, finance, chemistry and other fields.
IQM is one of the fastest growing companies in the quantum computing sector and already has one of the world’s largest quantum engineering teams. Funding from the current round will be used to accelerate hardware development and produce application-specific quantum computers. In addition, a large portion of the funding will go toward retaining and retaining the best talent in quantum computing, as well as the sales and business development teams.
Advisor to MIG Fund: LUTZ | ABEL Rechtsanwalts PartG mbB
MIG Fonds is a long-term client of LUTZ | ABEL. In the current financing round, the advisory team consisted of Dr. Bernhard Noreisch, LL.M. (lead) and Jan-Phillip Kunz, LL.M. (both VC / M&A, Munich) together.