QMill Raises €4 Million for Quantum Computing Development

QMill, a quantum-computing startup based in Espoo, Finland, has successfully raised €4 million in seed funding, led by Maki.vc and Antler, along with a €1 million grant from Business Finland. Co-founded by former Nokia CTO Hannu Kauppinen and quantum professor Mikko Möttönen, QMill aims to make quantum computing practical for industrial applications by developing resource-efficient algorithms. The funding will be used to enhance service offerings, recruit talent, and solidify Espoo's position as a quantum hub. QMill seeks to address limitations in current quantum hardware, focusing on near-term advantages rather than distant breakthroughs. The company targets sectors like finance, telecommunications, and logistics, aiming to provide solutions that classical computers cannot tackle effectively. Kauppinen emphasized the goal of making quantum technology accessible and solving complex computational problems for real-world use cases.