Algorithmiq CEO Sabrina Maniscalco. Image: Jussi Vierimaa
Algorithmiq said it is ‘building and industrialising the algorithmic layer’ in quantum technology.
European quantum software start-up Algorithmiq has raised €18m in a funding round led by United Ventures and Italian institutional investor Cassa Depositi e Prestiti and will also move to a new global headquarters in Milan, Italy.
The funding, which also saw continued participation from Inventure, represents Italy’s largest-ever venture capital investment in a quantum start-up, according to the company, and doubles the total raised to date by Algorithmiq to €36m.
The company, which was previously based in Helsinki, Finland, said Milan will serve as a hub for it to “further its commercial operations as the software partner to the world’s leading quantum hardware companies”, and also enable it to tap into Europe’s deep scientific talent base to expand its rapidly growing team and leverage the region’s growing strategic focus on quantum.
