Algorithmiq in a $4 million investment deal led by Tiger Global.

Algorithmiq, a Helsinki, Finland-based software startup developing advanced algorithms to solve complex problems in life sciences, announced completing a pre-seed funding round closed at $4 million.

The money was raised from multiple investors led by Tiger Global and joined by angel investors Jorma Ollila (ex-Nokia and ex-Shell), Haakon Overli (GP at Dawn Capital), Jim O’Neill (via Thames Trust), David Helgason (Foobar/Unity3D), Feroz Dewan (Arena Holdings), Keenan Rice (Tokyo Black/LookerGoogle/Firebolt) and K5 Global.

Post deal, the board of directors includes Jorma Ollila, as Chairman; co-founder and CEO Sabrina Maniscalco, Jussi Westergren, co-founder, and Haakon Overli.

Algorithmiq, founded in 2020 by Boris Sokolov, Guillermo Garcia-Perez, Matteo Rossi and CEO Sabrina Maniscalco, developed a novel quantum-enhanced drug discovery platform leveraging advanced algorithms to solve complex problems in life sciences.

It provides up to 100x the speed of chemical simulations on quantum computers as it combines expertise in quantum information, complex systems, and computational physics to develop algorithms that run on near-term quantum devices to discover new drugs and develop new materials. Algorithmiq is agnostic to the physical qubit representation chosen and can be used for quantum chemistry simulations on all major quantum-cloud platforms (IBM, AWS, MFST, IonQ, etc).