IQM Quantum Computers Raises $320 Million in Largest European Series B Round

Dr. Jan Goetz from IQM Quantum Computers, a global leader in full‑stack superconducting quantum computers, announced that the company has secured $320 million in a Series B funding round led by Ten Eleven Ventures, bringing its total capital to $600 million. The capital will accelerate IQM’s roadmap to error-corrected quantum systems, scaling from the current thousand-qubit prototypes to one-million-qubit machines. It will underpin the company’s on-premises and cloud offerings across the United States and other global markets.

IQM Quantum Computers announced on 3 September 2025 that it had closed a Series B equity round of $320 million (€275 million), the largest outside the United States. The round was led by Ten Eleven Ventures, a U.S.-based cybersecurity-focused investment firm, and saw increased stakes from Finnish venture capital firm Tesi, pension funds Elo Mutual Pension Insurance and Varma Mutual Pension Insurance, strategic investors Schwarz Group and Winbond Electronics Corporation, as well as sovereign wealth funds EIC and Bayern Kapital. The funding brings IQM’s total capital to $600 million.

Ten Eleven’s participation is catalytic, providing capital, strategic guidance, and access to the U.S. market. Alex Doll, co‑founder and managing general partner of Ten Eleven, joined IQM’s board of directors, signalling 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 modelling, aiming to embed robust security protocols from the outset.

Finnish Venture Tesi Boosts Capital for Million Qubit Fabrication and Error Correction

Tesi has increased its stake, anchoring the investment in Espoo, Finland, where IQM’s headquarters and primary fabrication facility are located. The new funds will expand the Espoo fabrication line to enable production of superconducting qubits at a scale of one million. At the same time, R&D budgets focus on quantum error‑reduction techniques and the development of error‑correction protocols. Juha Lehtola, Director of Venture and Growth Investments at Tesi, noted that the firm has supported IQM since its founding and that the increased capital will accelerate the next stage of growth, providing both financial backing and strategic guidance as IQM expands its commercial footprint in the United States and other markets.

The capital will be used to build new data‑centre facilities and scale IQM’s superconducting‑qubit assembly lines across multiple continents. The advanced chip-fabrication plant in Finland will be upgraded to push from thousand-qubit prototypes toward a million-qubit architecture, demanding tighter quantum-error-reduction protocols and robust error-correction codes. IQM plans to replicate its data centre model in the United States, France, Germany, Japan, and Singapore, enabling on-premises full-stack quantum computers in high-performance computing centres, research laboratories, and enterprise environments. A cloud-platform upgrade will also allow remote access. By keeping core design and manufacturing expertise in Europe, IQM preserves its competitive edge and accelerates its path to fault‑tolerant quantum computing.