IQM Quantum Computers, the Espoo-based builder of full-stack superconducting quantum systems, has raised €275M in a record-breaking Series B round, bringing its total funding to $600M (€514M) and valuing the company at unicorn status.
The round was co-led by Ten Eleven Ventures, the cybersecurity-focused U.S. investment firm, alongside Finnish investor Tesi. Additional backing came from pension funds Elo and Varma, strategic investors Schwarz Group and Winbond Electronics, as well as sovereign funds EIC and Bayern Kapital. Goldman Sachs International acted as placement agent.
“Finding the right U.S. partner was essential. Ten Eleven’s track record and alignment with our vision make them the ideal investor as we scale,” said Dr. Jan Goetz, Co-founder and Co-CEO of IQM.
Scaling production and U.S. expansion
The fresh capital will be used to expand data centres, chip production, and assembly lines in Finland, strengthen IQM’s presence in the U.S. market, and accelerate software development to meet rising global demand. IQM is also investing heavily in R&D to move toward million-qubit systems with robust error correction.
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Growing global footprint
Founded in 2018, the company has sold 15 quantum computers to date, including its flagship Radiance system and Spark, a cost-efficient model for universities. Customers include supercomputing centres, research labs, enterprises, and universities across Europe, Asia, and North America.
The company employs over 300 staff and operates internationally with offices in Finland, Germany, France, Italy, Spain, Poland, Singapore, South Korea, Japan, and the U.S.
By combining hardware innovation with cloud access through its IQM Resonance platform, the firm is positioning itself as a leader in delivering commercially viable quantum computing.
