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MIG Capital supports €128m funding of quantum computer company IQM

MIG Capital AG, one of Germany’s leading venture capital firms, has closed a Series A2 funding at its portfolio company IQM, a specialist in quantum computing hardware.

MIG Fonds No. 2, 4, 6, 10, 14 as well as 17 participated in this round, which provided a combined €128 million in funding, and was led by World Fund, which is making an initial investment in IQM, plus new investors Varma, OurCrowd, EIC Fund, Bayern Capital, QuIC SPV and Tolfino. 

This financing round is the inaugural MIG Fond 17 investment in a portfolio company.

The round included participation from MIG as well as further existing investors Tesi, OpenOcean,, Matadero, QED, Vsquared, Salvia GmbH, Santo Venture Capital GmbH and Tencent. Today’s funding, which follows a €39 million Series A1 funding led by MIG in 2020 also includes €25 million of a €35 million venture loan from the European Investment Bank (EIB).

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