IQM Quantum Computers Raises Over $300 Million in Series B to Advance Global Quantum Computing Expansion
IQM Quantum Computers has secured over $300 million in a Series B funding round, bringing its total funding to approximately $600 million. The round was led by U.S.-based Ten Eleven Ventures, marking its first investment in the company, with significant participation from Finland’s state-owned investor Tesi, as well as Elo, Varma, Schwarz Group, Winbond Electronics, the European Innovation Council (EIC), and Bayern Kapital.
The fresh capital will enable IQM Quantum Computers to accelerate the development of error-corrected quantum systems capable of scaling from thousands to millions of qubits. The company plans to expand its presence in the United States and other international markets, grow its quantum cloud offerings, and advance on-site quantum computing solutions. IQM Quantum Computers will also use the funding to increase data center capacity, enhance assembly lines, and strengthen chip fabrication capabilities in Finland to meet rising global demand.
This Series B raise stands as one of the largest in the history of quantum computing outside the United States. The investment is expected to help IQM Quantum Computers deepen its technological leadership and advance toward building scalable, commercially viable quantum computers. Ten Eleven Ventures co-founder Alex Doll will join the company’s board of directors to support its global expansion strategy.
