"The company has already sold its quantum computers to enterprises in APAC and the U.S., but its strongest market remains Europe. That's what this round is intended to change: the startup is planning to use the fresh cash for both a commercial push as well as R&D to align with the market's evolving understanding of what's needed to turn advances in quantum science into practical impact."
"To win U.S. clients in the face of competition from big tech companies like IBM, Google, and Microsoft, IQM knows it must accelerate its roadmap for both hardware and software. According to its co-CEO and co-founder Jan Goetz, this means investing more in the company's chip fabrication facilities, as well as in software development and error correction research. Error correction, the ability to detect and fix errors inherent in quantum systems, is a hot topic right now,"
IQM, a Finnish university spinout, raised more than $300 million in a Series B led by Ten Eleven Ventures and achieved unicorn status. The company builds quantum computers for on-premises installation and a cloud platform, and has sold systems to enterprises in APAC and the U.S., with Europe as its strongest market. The funding will support a commercial push and R&D to translate quantum advances into practical impact. IQM plans to accelerate both hardware and software roadmaps, invest in chip fabrication, software development, and error correction research to improve reliability and competitiveness against large tech firms.
Read at TechCrunch
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