Overview

• IQM closed a $320 million Series B led by U.S.-based Ten Eleven Ventures, with co-founder Alex Doll joining the board alongside investors including Tesi, Schwarz Group, Winbond, EIC and Bayern Kapital.
• The raise lifts total funding to roughly $600 million and puts the Finnish quantum computing startup at a valuation of $1 billion or more, according to co-CEO Jan Goetz.
• New capital will fund a developer platform, expansion of sales operations in the United States and Asia, and deeper investment in error correction research and chip fabrication.
• The company reports global traction with on‑premises and cloud offerings, including a recent on‑prem sale to Oak Ridge National Laboratory and a tally of 15 systems sold across Europe, APAC and the U.S.
• IQM says 54‑qubit devices are already in use and it is on track to deploy its first 150‑qubit systems soon, while a longer‑term million‑qubit goal by around 2032 remains an aspirational target.