Espoo-based IQM Quantum Computers has raised $320 million (€275 million) in one of the largest startup funding rounds ever in the Nordics, cementing its position as a European leader in quantum technology. The Series B round, led by U.S. investor Ten Eleven Ventures with strong backing from Finland’s state-owned Tesi, pushes IQM’s total funding to $600 million.
The fresh capital will accelerate IQM’s roadmap towards error-corrected quantum systems, expand its data center and assembly line capacity, and boost its commercial presence in the U.S. and other global markets. Co-founder and Co-CEO Jan Goetz described the entry of Ten Eleven as a “catalytic event,” underscoring the firm’s ambition to scale to one million qubits and maintain leadership in both hardware and software integration.
IQM already counts high-performance computing centers, research labs, universities and enterprises among its clients. The company delivers both on-premises full-stack superconducting quantum computers and access via its cloud platform, serving customers worldwide. Headquartered in Espoo, IQM employs more than 300 people and operates across Europe, Asia, and the U.S.
The round attracted a broad set of backers, including Finnish pension funds Elo and Varma, Germany’s Schwarz Group, Taiwan’s Winbond Electronics, and sovereign wealth funds. Goldman Sachs acted as sole placement agent.
With this raise, IQM becomes not only one of the most heavily funded quantum startups in Europe but also a flagship case of Nordic innovation attracting global capital at scale.
Source: IQM Quantum Computers, IQM raises over $300 million in Series B funding round, September 3, 2025, IQM Press Release
