Quantum computing firm IQM says it’s raised $320 million of fresh funding to ramp up investments in technology and commercial growth.
The startup, which is headquartered in Espoo, Finland, was founded in 2018 by a team of scientists with the aim of building powerful quantum computers in Europe like the machines companies such as Google
and IBM
are building in the U.S.
Quantum computers are machines that use the laws of quantum mechanics to solve problems too complex for classical computers, which store information in bits (ones and zeroes). Quantum computers use quantum bits, or “qubits,” which can be zero, one or something in between — the aim being to process much larger volumes of data to facilitate breakthroughs in areas like medicine, science and finance.
