Qmill
Quantum computing practical & accessible
Latest round: €4M
Invested in: 2024
Investors: Maki.vc, Antler, Kcanted Ventures
Founders: Hannu Kauppinen, Mikko Möttönen, Ville Kotovirta, Toni Annala
Delivering near-term industrial quantum advantage via cutting-edge algorithms
QMill is on a mission to make quantum computing practical and accessible for real industrial use cases. In the rapidly growing quantum technology market, QMill is targeting a critical gap by addressing the limitations of current quantum computing hardware. Unlike quantum companies that target breakthroughs expected to materialize a decade from now, QMill aims to deliver quantum advantage today by leveraging near-future hardware and its new, pioneering algorithms.
“Our investment is driven by the exceptional quality of the QMill team, which includes top-tier professionals dedicated to innovating and commercializing near-term algorithms with practical applications across diverse technical and business domains.”
Mikko Möttönen
Co-founder of IQM
Founded by a team spanning various industries and skillsets
QMill’s quantum algorithms will solve intricate optimization challenges that are currently beyond the reach of classical computers. The company targets sectors such as finance, telecommunications, real estate, energy, and supply chain logistics. Their algorithms may also serve as efficient subroutines in materials development, for which the company is open to partnerships. By focusing on immediate, real-world applications, QMill is setting the stage for launching a new era of practical quantum computing.
“We are thrilled to have the support of Maki.vc, Antler and Kvanted in our journey to transform quantum computing from a futuristic concept into a present-day solution. With this funding, we are well-placed to accelerate our R&D efforts and attract the best minds in the industry to join us in Espoo.”
HANNU KAUPPINEN
CEO and Co-Founder of QMill
Founders
QMill’s founding team includes: Dr. Hannu Kauppinen, Nokia Technologies’ former Chief Technology Officer; Prof. Mikko Möttönen, Professor of Quantum Technology at Aalto University and VTT; Dr. Ville Kotovirta, former head of VTT’s Quantum Algorithms and Software Team; Dr. Toni Annala, an L.E. Dickson Instructor at the University of Chicago and a former member of the Institute for Advanced Study, Princeton.
Technology
QMill develops quantum-advantage algorithms which will be executed on near-term quantum computers to solve complex problems that are too large for existing supercomputers. Their technology will accelerate the beneficial use of quantum computing with algorithms that are already useful in the current noisy intermediate-scale quantum (NISQ) era.
