Table of Contents

Introduction

QMill, a pioneering quantum-computing company based in Espoo, Finland, has successfully raised €4 million in seed funding. The round was led by Finnish VC firm Maki.vc, alongside Singapore-based Antler and industrial technology investor Kvanted.

Funding Round

Alongside venture capital funding, QMill secured an additional €1 million grant from Business Finland. The founding team includes Dr. Hannu Kauppinen (CEO), Prof. Mikko Möttönen, Dr. Ville Kotovirta, and Dr. Toni Annala, bringing expertise from institutions like Nokia, Aalto University, VTT, and the University of Chicago.

QMill’s Mission and Vision

QMill aims to bridge the gap between theoretical quantum computing and real-world industrial applications. Unlike companies focusing on breakthroughs expected a decade from now, QMill seeks to harness near-term quantum hardware using proprietary algorithms.

Our Technology

Quantum computing has the potential to revolutionize industries, but its full potential is yet to be realized. QMill is developing algorithms optimized for the noisy intermediate-scale quantum (NISQ) era, enabling practical applications even before fully scalable quantum computers are available.

Our Product

QMill develops quantum-advantage algorithms to run on near-term quantum computers, tackling problems beyond the capability of supercomputers. These algorithms will provide solutions for optimization, data analytics, and forecasting.

How It Works

• Objective: Identify domains where quantum advantage is achievable in the near term.
• Mission: Solve complex optimization challenges across multiple industries.
• Target Sectors: Finance, telecommunications, real estate, energy, and supply chain logistics.

Collaboration and Partnerships

QMill is open to partnerships, particularly in material science, to explore new quantum applications. Companies with high-impact computational challenges are invited to collaborate on proof-of-concept projects.

Source: EU Startups

Picture source: Brian Kostiuk