NextFin news, IQM Quantum Computers, headquartered in Espoo, Finland, secured $320 million in a Series B funding round on this Wednesday, September 3, 2025. The round was led by U.S.-based cybersecurity-focused investment firm Ten Eleven Ventures, marking the largest Series B raise in the quantum computing sector outside the United States. This funding round brings IQM's total capital raised to $600 million, elevating the company to a valuation exceeding $1 billion, thus achieving unicorn status.
The capital raised will accelerate IQM's development roadmap toward error-corrected quantum systems, scaling from current thousand-qubit prototypes to machines with up to one million qubits. The funds will also support expansion of IQM's on-premises quantum computing systems and cloud platform offerings across the United States and other global markets.
Ten Eleven Ventures' participation is strategic, providing not only capital but also guidance and access to the U.S. market. Alex Doll, co-founder and managing general partner of Ten Eleven Ventures, joined IQM's board of directors, signaling confidence in the company's vision for secure, high-performance quantum systems. The firm's cybersecurity expertise will be integrated into IQM's superconducting-qubit architecture through risk-assessment frameworks and threat modeling to embed robust security protocols from the outset.
Finnish venture capital firm Tesi, a long-time investor in IQM, increased its stake in this round. Juha Lehtola, Director of Venture and Growth Investments at Tesi, stated that the new funds will expand IQM's fabrication line in Espoo to enable production of superconducting qubits at a scale of one million. Concurrently, research and development efforts will focus on quantum error-reduction techniques and error-correction protocols.
The funding will also be used to build new data center facilities and scale superconducting-qubit assembly lines across multiple continents, including planned data centers in the United States, France, Germany, Japan, and Singapore. IQM aims to provide on-premises full-stack quantum computers in high-performance computing centers, research laboratories, and enterprise environments, complemented by cloud platform upgrades for remote access.
IQM's co-founder and co-CEO Dr. Jan Goetz highlighted the company's commercial traction, noting over 13 quantum computing systems sold, primarily to scientific computing centers integrating them into supercomputers for physics simulations and performance optimization. IQM also offers cloud access through its Resonance platform, which supports enterprise customers in sectors such as pharmaceuticals, logistics, finance, and security.
IQM's approach emphasizes error correction and product maturity, with standalone, self-calibrated machines designed to fit standard 19-inch rack footprints, facilitating integration into existing supercomputing infrastructures. The company is expanding its commercial presence in the U.S. and growing its cloud services, aiming to build a sustainable, long-standing business focused on profitability.
Other investors participating in the round include Finnish pension funds Elo Mutual Pension Insurance and Varma Mutual Pension Insurance, strategic investors Schwarz Group and Winbond Electronics Corporation, and sovereign wealth funds EIC and Bayern Kapital.
IQM was founded in 2019 and has its headquarters and primary fabrication facility in Espoo, Finland. The company specializes in full-stack superconducting quantum computers and aims to lead the transition from research to commercial quantum computing applications globally.
Sources: IQM Quantum Computers official announcement (meetiqm.com), Quantum Zeitgeist, HPCwire, PitchBook, IoT World Today, CryptoRank, Tech.eu.
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