IQM Quantum Computers has announced that it has raised $320 million (€275 million) in a Series B funding round, bringing the company’s total funding to date to $600 million. The round was led by the cybersecurity-focused investment firm Ten Eleven Ventures, which is IQM’s first U.S. investor. The round also included an increased commitment from existing investor Tesi and participation from 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.
The funding is intended to advance IQM’s development roadmap towards error correction, with the company aiming to achieve fault-tolerant quantum computing by 2030 and scale up to one million qubits. The capital will also be used to expand IQM’s commercial presence and scale its data center infrastructure and assembly lines globally, with further investments into its chip fabrication in Finland.
The addition of Ten Eleven Ventures as a U.S.-based investor is intended to help IQM scale its technology and business in the U.S. market. The company also states that this is the largest Series B raise in the quantum space, both in Europe and outside of the U.S., according to CrunchBase data. Goldman Sachs International acted as the sole placement agent for the raise.
Read the full announcement here.
September 3, 2025
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