The EIC Accelerator awardee IQM Quantum Computers, the Europe’s leading quantum computing company specialised in superconducting technologies, announced on 3 September 2025 that it has raised $320 Million (€275 Million) in venture capital, bringing the total funding raised to date to $600 Million. The new round was led by cybersecurity-focused investment firm Ten Eleven Ventures, but participation also came from several new and existing investors, including EIC. This significant investment will serve to advance their ambitious Development Roadmap aimed at achieving quantum advantage in the 2030s.
About IQM Quantum Computers
IQM Quantum Computers builds quantum computers from Noisy Intermediate Scale Quantum (NISQ) era to fault-tolerant era. The company made unparalleled progress on their roadmap remaining in a constant feedback loop with experts who use their computers to solve unsolvable problems.
Their focus now is on scaling from thousands to millions of qubits in error-corrected systems. IQM Quantum Computers also aims at expanding their data center infrastructures and assembly lines, both essential for the industrialization of quantum computing manufacturing and the expansion of cloud-based access to quantum systems.
Back during their project Prometheus, funded under the EIC Accelerator scheme from 2020 to 2022, their technology built on IQM’s qubit-coupler scheme with the demonstrated 2-qubit gate fidelity of 99.8%. The implementation of the scaled-up processor technology furthermore utilised quantum integrated device fabrication methodologies which were significantly advanced during the EIC project. As a result, quantum processors based on planar and 3D-integrated chips and modules make it possible to scale up the systems while maintaining the quantum-coherent properties. Along with the high-end solutions for system integration, including cryogenic infrastructure as well as control electronics and software, state-of-art full quantum computer products were enabled.
The recently announced Series B funding round
The Series B funding round of $320 Million (€275 Million) was led by cybersecurity-focused investment firm Ten Eleven Ventures, IQM’s first U.S. investor, with an increased commitment level from existing Finnish venture capital and private equity company Tesi. Participation also came from several new and existing investors, including pension funds Elo Mutual Pension Insurance and Varma Mutual Pension Insurance, strategic investors Companies of Schwarz Group and Winbond Electronics Corporation, and sovereign wealth funds EIC and Bayern Kapital.
This funding round will fuel our company growth, with an accelerated tech roadmap towards error corrected systems from thousand to million qubits. We also focus on strong business expansion in the U.S. and other global markets based on our attractive on-premises offerings for quantum computers and the recently announced upgrade of our cloud offering
said Dr. Jan Goetz, Co-Founder and Co-CEO of IQM Quantum Computers.
Indeed, with this Series B funding round, IQM will expand its commercial presence and scale its data center infrastructure and assembly lines globally. While maintaining its European leadership, this additional capital enables IQM to enhance its presence in the U.S. market and further access key global markets to serve the growing demand in IQM´s products. With further investments into IQM´s chip fabrication in Finland, the funding will also support research and development aimed at achieving fault-tolerant quantum computing in the near term. The advanced fab capabilities will facilitate the goal of scaling up to one million qubits, paired with quantum error reduction and correction.
About IQM Quantum Computers
In 2018 a group of ambitious scientists took the (quantum) leap to turn their theory to practice. The team started with breakthroughs in developing the tech towards large-scale quantum processors. But what started as a quest to create the best quantum processing units (QPUs) evolved into building and delivering full-stack quantum computers that help create ecosystems for the quantum community worldwide.
Learn more about FlexiForm by visiting the Horizon Europe database and the official project website.
The current article is inspired by the press release published on the IQM Quantum Computers official website.
DISCLAIMER: This information is provided in the interest of knowledge sharing and should not be interpreted as the official view of the European Commission, or any other organisation.