IQM gets reinforcement on the Supervisory Board

The German-Finnish start-up IQM develops quantum computers. Now a new face is joining the Supervisory Board and supporting the founders.

The Finnish-German start-up IQM develops quantum computers. Now it is getting reinforcements for its supervisory board: the chief supervisor of Biontech, Helmut Jeggle, is joining IQM. He will support the start-up in commercializing its products more quickly.

The start-up only received a further 39 million euros in a financing round at the end of 2020, bringing the Series A round to 71 million euros. The company Salvia, chaired by Helmut Jeggle, was also involved. Another link between Biontech and IQM is formed by the brothers Andreas and Thomas Strüngmann, who are majority shareholders in Biontech and contributed the majority of the additional 39 million euros, as reported by Manager Magazin. And the third interface is formed by the MIG fund, which not only invested in Biontech but also led the financing round at IQM.

IQM was founded in 2019 as a spin-off of Aalto University and the VTT Technical Research Center in Finland. Today, the company employs 100 people at its Munich and Espoo sites. With last year's financing round, founder Jan Goetz primarily wants to expand the team.

In November 2020, IQM entered into a cooperation in Finland to advance the development of the first Finnish quantum computer. IQM has also paved the way for this in Germany: IQM has been supporting a supercomputer at the Leibniz Supercomputing Center in Munich for some time now. IQM also wants to make its quantum computers accessible to companies.