IQM quantity start starting $ 320 million

The IQM quantum computing company says it raised $ 320 million in new financing to increase investments in technology and commercial growth.

The startup company, which is headquartered in ESPOO, was established in 2018 by a team of scientists with the aim of building strong quantum computers in Europe such as machinery companies such as Google and IBM Building in the United States

Quantum computers are machines that use quantum mechanics laws to solve very complex problems for classic computers, which store information in bits (those and zeros). Quantum computers use quantum parts, or “Qubits”, which can be zero, one, or something between them – the goal of processing much larger quantities of data to facilitate breaches in areas such as medicine, science and financing.

The IQM financing round was led by Ten Eleven Ventures, an investment company that focuses on cybersecurity, while the Finnish company Tesi invested, while the Finnish company Tesi invested. It gives the company “Unicorn”, which is seven-year-old, which means that it is estimated at one billion dollars or more, according to CO-CEO and co-founder Jan Goetz.

Investment emphasizes an increase in the uproar of the investor about the quantum computing space. Quantum shares listed in the public list such as Ion and D-WAVE QuANTUM He witnessed huge marches last year. IonQ has increased by about 480 % in the past 12 months, while the Duantum shares have risen to more than 1,400 %.

“If you compare us directly to the companies that are inserted on the Nasdaq Stock Exchange and take the main performance indicators such as people, revenues, patents, and such things, in fact we are not behind us. We can actually compete at this level,” Getz told CNBC in an interview.

Getz said that the intelligence rate has come a long way from the first days of building the company. The company has 350 employees worldwide, has built financing and sales operations as well as an ESPOO factory where it builds its devices.

Europe against the United States

There are now a number of European companies that work on quantum computers, including IQM, Pasqual and Quandela. However, they have not yet achieved the scale of their counterparts in the United States.

In a speech earlier this year, the head of technology at the European Commission Henna Virkontin He said that European computer startups often struggle to expand due to a lack of private capital, noting that the European Union receives only 5 % of global private financing compared to 50 %

“If you only look at what is happening in Europe in the areas of deep technology that comes out of universities, and of course we have a lot of startups because we have many good universities in Europe. But it is really difficult to make them grow,” said Jweoz from IQM.

“Now I think there is a danger, if you have very high reviews in companies in the United States, they only lead to unifying integration and purchases using their high share price.” In fact, IonQ announced in June that it would work Buy UK Computing Emerging Computing Oxford IONICS For approximately $ 1.1 billion in a deal consisting primarily from shares.

IQM has now sold a total of 15 quantum computer so far. The company sells two main producers: its leading machine, radiance, and the most expensive quantum computer called Spark, which the company sells to universities.

To move forward, IQM plans to exceed only devices. Getz said that the company will use part of the criticism that was raised to develop a software platform aimed at making quantum computing within the reach of developers who are not experts in this field.

The other main goal of IQM is global expansion, with plans to expand the scope of commercial and sales in the United States and Asia. Getaz said that the intelligence rate has sold two systems in Asia so far – one in Taiwan and the other in South Korea – and sold its first machine in the United States

Although the initial public offering may be an option in favor of IQM to the bottom of the line, Goetz insisted that the company does not have plans for public subscription at the present time, adding that there are still “attractive ways” in the private markets of capital.

He said that the ultimate goal is to “build sustainable and profitable business and make them really a kind of companies that exist to remain and form the future of the account for a long time.”

“We will do everything necessary to achieve this,” Getz added.