Race to quantum advantage: Our investment in QMill
There is no doubt that the potential of quantum computing to revolutionize global industries is enormous. So far, much of that potential has remained in the distant future. This is where QMill differentiates; QMill focuses on making quantum computing practical and accessible in the near future, with the vision of unlocking quantum advantage, and achieving impact within an accelerated timeline.
Strategic and Transformative Role of Quantum
With its growing deep tech industry, Finland has become a hub for quantum innovation, with pioneering companies like IQM and Bluefors leading the way. Quantum computing is expected to generate up to $2 trillion in global economic value by 2035 (McKinsey), driving strategic interest and investments worldwide. Governments have committed over $42 billion to quantum investments, with China alone contributing $15 billion. This goes to show the transformative role that quantum technology will play across industries. QMill is at the forefront of this shift, developing innovative algorithms to deliver quantum advantage.
Exceptional Team
QMill’s team is exceptional in combining world-leading quantum research with experience in scaling technologies and driving innovation in both academia and industry. QMill is the creation of Mikko Möttönen, co-founder of IQM and professor of Quantum Technology at Aalto University and VTT; Hannu Kauppinen, former CTO of Nokia Technologies; Ville Kotovirta, former head of VTT’s Quantum Algorithms & Software Team; and Toni Annala, an L.E. Dickson Instructor at the University of Chicago.
With its complementary skill set, the team is well-positioned to not only develop scientific breakthroughs in quantum computing but also to commercialize these innovations, turning theoretical advancements into practical, high-impact applications.
Shaping the Future of Industry
QMill’s focus on near-term quantum hardware, specifically Noisy Intermediate-Scale Quantum (NISQ) devices, is a game-changer. QMill’s mission is bold: to be the first to unlock the potential of quantum advantage. This will enable businesses—from advanced industries to telecommunications, financial services and energy — to solve their most complex optimization challenges with unmatched speed and efficiency.
At Kvanted, we are excited to partner with QMill alongside investors Maki.vc and Antler, and join QMill’s journey to redefine what’s possible with quantum technology and shape the future of industrial innovation.
