Finnish Quantum Startup IQM in Talks to Raise Over €200 Million

IQM, a Finnish startup that builds quantum computers, is in talks to raise more than €200 million ($216 million), people familiar with the matter said, as more investors pile into the nascent technology.

The fundraising talks are ongoing and the final amount raised may differ, the people said, asking not to be identified because the discussions aren’t final. The company last raised €128 million in a 2022 round led by World Fund, with participation from Tencent Holdings Ltd. and Tesi, Finland’s state-owned investment company.

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An IQM quantum computer at a data center, near Munich.

Photographer: Sven Hoppe/picture alliance/Getty Images

IQM, founded in 2018, ...