Algorithmiq Raises €18m Series B

Algorithmiq, a quantum software startup, has raised an €18m Series B round. The company, which develops and sells algorithms for quantum computers, recently moved its headquarters from Helsinki, Finland to Milan, Italy. The startup previously raised €3.1m in 2022 and €290k in 2020.

Investors

The Series B round was led by Helsinki-based Quantum Accelerators. Participating investors included Tofino Capital, First Derivatives (FD), and Oxford Science Enterprises.

Algorithmiq Use of Funds

Algorithmiq plans to utilize the investment to boost its commercialization efforts. The company also aims to expand its team, targeting more than 80 employees in Helsinki and a total headcount exceeding 50. The funding will support product development, ongoing research, and the initiation of new commercial activities.

About Algorithmiq

Founded in 2020, Algorithmiq is a startup focused on developing and selling algorithms for quantum computers. Its mission is to develop solutions to complex problems in areas such as drug discovery, materials science, and financial modeling by leveraging quantum advantage.

Funding Details

Company: Algorithmiq
Raised: €18m
Round: Series B
Funding Date: May 11, 2026
Lead Investor: Quantum Accelerators
Additional Investors: Tofino Capital, First Derivatives (FD), Oxford Science Enterprises
Software Category: Quantum software
Company Website: https://algorithmiq.fi
Source: https://sifted.eu/articles/algorithmiq-fundraise-relocation-italy