VC firms invest €11.5m in IQM

Maki.vc, MIG Funds, OpenOcean, Tesi and Vito Ventures all took part in the financing. MIG partner Exel Thierauf will become chairman, and OpenOcean's Ekaterina Almasque also joins the board.

The fresh capital will be used to support IQM's objective of developing a scalable quantum computer. It has already made breakthroughs in thermal management and other areas that influence computational speed and information accuracy, according to a statement.

Previous funding
IQM was a spinout from Aalto University and VTT Technical Research Centre of Finland. The two organisations acted as incubators for the company prior to its seed round.

Company
IQM was founded in 2018 as a spinout from Aalton University and VTT, and is now headquartered in Espoo after moving into its offices on the Otaniemi research campus in May. IQM's founders all hold PhDs in quantum physics and are aiming to make breakthroughs that bring a practically useful quantum computer closer to reality.

People
Tesi – Tony Nysten (investment manager).
MIG Funds – Axel Thierauf (partner).
OpenOcean – Ekaterina Almasque (partner).
IQM Finland – Jan Goetz (co-founder, CEO).

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• Topics
• Expansion
• Nordics
• Technology
• Finland
• Venture
• Tesi