‍IQM Quantum Computers Raises over $300M Series B Funding Round

‍IQM Quantum Computers raises over $300M Series B funding round led by Ten Eleven Ventures with strong support from Tesi‍

• IQM, a global leader in superconducting quantum computers, provides on-premises full-stack quantum computers and cloud platform to customers and partners including Fraunhofer-Institute, Leibniz Supercomputing Centre, Oak Ridge National Laboratory and Hewlett Packard Enterprise.
• This is the largest ever Series B raise in the quantum space, both in Europe and outside of the US, according to Dealroom data.
• The funding will accelerate IQM's growth trajectory in the U.S. and other global markets as quantum computing advances into wider production.
• It will also advance IQM’s development roadmap towards quantum error correction (QEC), making quantum computers more reliable.

Munich, Germany, September 3, 2025 – IQM Quantum Computers, a global leader in full-stack superconducting quantum computers, today announced that it has raised $320 million (€275 million) in venture capital, bringing the total funding raised to date to $600 million. 

This Series B funding round 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. Early investors participating include World Fund, which led the €128 million Series A investment into IQM in 2022.

“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. “The addition of Ten Eleven as our first U.S.-based investor is a catalytic event for IQM and finding the right venture partner in the U.S.—one that could help us scale our technology and deliver value to our partners and customers—was essential. Ten Eleven's proven track record in guiding companies to category leadership and their alignment with our vision made this partnership an ideal match.”

IQM is working to create stable, fault-tolerant quantum computers through advancing quantum error correction. (QEC involves combining fragile qubits into a single logical qubit, and using algorithms to detect and fix errors without disturbing the quantum state). Achieving this milestone will mark the transition to unlocking quantum computers’ full potential.

Notably, quantum has the potential to cut global emissions by 7Gt annually according to McKinsey by 2035, representing an 18% reduction in total global emissions. The technology is also set to transform climate-related fields including energy storage, with simulations are already accelerating breakthroughs in battery chemistry, as IQM has demonstrated through its partnership with Volkswagen. Scaled effectively, these next-gen batteries could potentially mitigate up to 1.4 gigatons of emissions annually by 2035.

Founded in Finland in 2018 as a spin-out from Aalto University and VTT, IQM now has over 300 employees with headquarters in Finland and a global presence in France, Germany, Italy, Japan, Poland, Spain, Singapore, South Korea, and the United States.   

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.

"Having spent decades helping scale portfolio companies, we understand how to work with forward-thinking, global teams that are pushing the boundaries of innovation. Cybersecurity and quantum share an evolving relationship characterized by common stakeholder communities. This overlap will enable us to provide high-value counsel, capital, and connections to the IQM team,” said Alex Doll, Co-founder and Managing General Partner of Ten Eleven Ventures. “Ten Eleven's investment reflects our belief that partnering with companies at the forefront of the quantum era will be essential for the future of secure computing.” As part of the fundraise, Alex Doll joins IQM´s board of directors.

“Tesi has been an investor in IQM since the very beginning, and we have had the privilege of witnessing its journey to becoming a global leader. Over the years, IQM has made great strides on its technology roadmap, production capabilities and customer deliveries which truly sets it apart from competition. We are happy that Tesi’s revised investment strategy allowed us to significantly increase our investment to support IQM’s next stage of growth journey”, said Juha Lehtola, Director of Venture and Growth Investments at Tesi.

Goldman Sachs International acted as sole placement agent for IQM on its Series B raise.

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About IQM Quantum Computers:

IQM is a global leader in superconducting quantum computers. IQM provides both on-premises full-stack quantum computers and a cloud platform to access its computers. IQM customers include the leading high-performance computing centers, research labs, universities, and enterprises that have full access to IQM's software and hardware.  IQM has over 300 employees with headquarters in Finland and a global presence in France, Germany, Italy, Japan, Poland, Spain, Singapore, South Korea, and the United States.