IQM Quantum Computers raised €128 million ($128m) in Series A2 funding led by World Fund.

IQM Quantum Computers, an Espoo, Finland-based quantum computers manufacturer, completed a financing round closed at €128 million ($130 million) and dubbed series A2.

The money includes un undisclosed part of a €35 million ($35M) venture loan from the European Investment Bank (EIB) announced earlier this year - its equity component was raised from investors led by World Fund and joined by multiple others including Bayern Kapital, EIC Fund, OurCrowd, QCI SPV, Tofino and Varma, as well as existing shareholders Maki.vc, Matadero QED, MIG Fonds, OpenOcean, Salvia, Santo Venture Capital, Tencent, Tesi, and Vsquared.

IQM, founded in 2018 as a spin out of the Aalto University and the VTT Technical Research Centre of Finland and led by CEO Jan Goetz, develops the full hardware stack for a quantum computer, integrating different technologies, and then invites collaborations with quantum software companies. The company says it is building Finland’s first 54-qubit quantum computer with VTT and that an IQM-led consortium (Q-Exa) is also building a quantum computer in Germany. This computer will be integrated into an HPC supercomputer to create a quantum accelerator for future scientific research. IQM has over 180+ employees with offices in Paris, Madrid, Munich and Espoo.

IQM Quantum Computers previously raised $46 million series A back in 2020, and prior to that about $30 million as well as a €2.5M funding grant in 2020.