IQM Quantum Computers Raises $320 Million in Series B Funding Round Led by Ten Eleven Ventures

IQM Quantum Computers has raised $320 million in a Series B funding round, bringing the total funding to $600 million. The round was led by US investor Ten Eleven Ventures and included support from Tesi, Elo Mutual Pension Insurance, Varma Mutual Pension Insurance, and other investors. The funding will fuel IQM's growth, accelerate its tech roadmap, and expand its commercial presence globally.

Finnish-headquartered company IQM Quantum Computers has raised $320 million in a Series B funding round, bringing its total funding to $600 million [1]. The round was led by US investor Ten Eleven Ventures, with support from existing investors such as Tesi, Elo Mutual Pension Insurance, Varma Mutual Pension Insurance, and other investors. Goldman Sachs advised on the funding round.

The new capital will fuel IQM's growth, accelerate its technology roadmap, and expand its commercial presence globally. IQM's co-founder and co-CEO, Jan Goetz, stated that the funding will support the company's expansion in the US and other global markets, leveraging its attractive on-premises offerings for quantum computers and the recently announced upgrade of its cloud offering.

The funding round is a significant step for Europe's quantum technology sector, which currently receives only 5% of global private investments [1]. The European Union's tech chief, Henna Virkkunen, has emphasized the need for more private funding to keep pace with global leaders in the field.

The quantum computing sector is gaining significant traction, with companies like Alphabet's Google, Microsoft, and IBM investing heavily in research and development. The sector is also attracting substantial venture capital investment, as seen in the success of startups like IonQ and Rigetti Computing.

New Mexico has also announced a $315 million investment in quantum computing, aiming to become a leader in the field [2]. The state's investment will support private companies, fabrication facilities, and infrastructure such as a quantum network to connect labs and businesses. This effort highlights the growing interest and investment in quantum technologies.

The growth of the quantum computing sector is reflected in the performance of thematic ETFs like the Defiance Quantum Computing ETF (QTUM), which has surpassed $2 billion in assets under management [3]. The ETF tracks the BlueStar Quantum Computing and Machine Learning Index, offering investors exposure to a diversified portfolio of global companies at the forefront of quantum innovation.

The quantum computing market is projected to grow exponentially, with estimates suggesting a valuation of $90 billion to $170 billion by 2040 [3]. The sector's potential to solve complex problems beyond the reach of classical computing is driving investor interest.

References:

[1] https://www.tradingview.com/news/reuters.com,2025:newsml_P6N3S501C:0-finland-s-iqm-quantum-computers-raises-320-million-in-new-funding-round/
[2] https://www.investing.com/news/economy-news/new-mexico-to-invest-315-million-in-quantum-computing-drive-4219836
[3] https://www.globenewswire.com/news-release/2025/09/02/3142652/0/en/Defiance-s-QTUM-Quantum-Computing-ETF-Surpasses-2-Billion-AUM-as-Quantum-Computing-Sector-Attracts-Surging-Interest.html