Finnish Quantum Startup IQM Hits $1B Valuation
IQM's $320 million funding led by Ten Eleven Ventures will accelerate development from thousand to million qubit quantum computers and expand global commercial operations.
- IQM Quantum Computers, a Finnish startup founded in 2018, announced a $320 million Series B funding round on September 3, 2025, raising total funding to $600 million and achieving unicorn status.
- The funding round was spearheaded by U.S.-based Ten Eleven Ventures and saw increased participation from Finnish investor Tesi, addressing the difficulty European quantum startups face in scaling due to scarce private investment.
- IQM, which employs 350 people and operates a manufacturing facility in Espoo, Finland, has delivered 15 quantum computers worldwide, including units sold in Asia and the United States, and intends to broaden its business development and marketing efforts across these regions.
- Dr. Jan Goetz, co-founder and co-CEO, stated that the new funding will drive the company’s expansion and support an accelerated plan for error-corrected quantum systems, affirming their commitment to fully achieving these objectives.
- IQM is focused on establishing a long-lasting and financially successful company that extends beyond hardware, aiming to influence the future of computing while matching the performance of Nasdaq-listed quantum firms in an expanding international market.
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Brand new unicorn IQM sets its sights beyond Europe for its quantum computers
IQM, a Finnish quantum computing company is now a unicorn after raising over $300 million in a Series B round funding led by Ten Eleven Ventures, a U.S. investment firm focused on cybersecurity.
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