Avance advised IQM Finland Oy, the European leader and pioneer in building superconducting quantum computers, in its EUR 39 million Series A financing round. IQM is among the fastest growing companies in the quantum computing sector and already has one of the largest quantum hardware engineering teams worldwide.
The financing ranks among the largest fundraising rounds by a European deep-tech startup in 2020 and as one of the largest Series A rounds in Finland ever. Existing investor MIG Fonds led the round, with participation from all existing investors including Tesi, OpenOcean, Maki.vc, Vito Ventures and Matadero QED. New investors participating in the round include Tencent, Salvia GmbH, Santo Venture Capital GmbH and Vsquared.