The Finnish newcomer just raised €4mn to develop algorithms that run on near-term quantum computers

QMill, a Finnish quantum startup, has raised seed funding to apply practical use cases in the quantum computing sector.

Kvanttilaskenta lupaa rahanarvoista hyötyä esimerkiksi investointiportfolion optimoinnissa, sanoo toimitusjohtaja Hannu Kauppinen.

Uusi suomalainen startup yrittää löytää uuden algoritmin, joka ratkaisisi nykyisten kvanttitietokoneiden ongelman. Se vaatisi matemaattista läpimurtoa.

QMill, a quantum computing startup, raised $4.5 million in seed funding to develop resource-efficient algorithms for practical industry applications, focusing on finance, telecoms, and logistics.

QMill, a pioneering quantum-computing company based in Espoo, Finland, has successfully raised €4 million in seed funding. The funding round was led by Finland-based Maki.vc and Singapore-based VC Antler and joined by industrial technology investor Kvanted.

Espoo, Finland, 17 September 2024 – QMill, a pioneering quantum-computing company based in Espoo, Finland, has successfully raised €4 million in seed funding. The funding round was led by Finland-based Maki.vc and Singapore-based VC Antler and joined by industrial technology investor Kvanted. The company also secured a grant of €1 million from Business Finland, a Finnish government agency for innovation, trade, and investment. QMill’s founding team includes Dr. Hannu Kauppinen, Nokia Technologies’ former Chief Technology Officer, Prof. Mikko Möttönen, Professor of Quantum Technology at Aalto University and VTT, Dr. Ville Kotovirta, former head of VTT’s Quantum Algorithms and Software Team and Dr. Toni Annala, an L.E. Dickson Instructor at the University of Chicago, and a former member of the Institute for Advanced Study, Princeton.