Algorithmiq, a quantum software company, has raised €18 million in funding and moved its global headquarters from Helsinki to Milan.
The round was led by United Ventures and Italian institutional investor CDP Venture Capital, with continued participation from Inventure VC. This funding round brings Algorithmiq’s total funding to €36 million. The company claims this represents Italy’s largest-ever venture capital investment in a quantum startup.
Dr Sabrina Maniscalco, CEO and co-founder of Algorithmiq, commented, “2026 is a year in which more meaningful applications of quantum will become a reality, and we want to be at the centre of that change. This strategic move and funding injection give us the template to hit scale and continue to serve and work with the biggest quantum players in the world. Our quantum software makes quantum computers actually useful, and we’re delighted to be taking that message global from our new headquarters in Milan.
“As quantum computing matures, the question is shifting from who can build the biggest machine to who can make the machines matter. That challenge sits at the intersection of science, software, and industrial execution, and it is increasingly where the real competitive edge may lie.”
Founded in 2020 by Dr Maniscalco, Guillermo García-Pérez (CSO), Matteo Rossi ( CTO), and Boris Sokolov (lead researcher), Algorithmiq develops quantum software that makes quantum computers useful, enabling breakthroughs in chemistry, materials science, and life sciences through physically meaningful, energy-efficient quantum computation.
According to the company, relocating its global headquarters to Milan reflects Italy’s “burgeoning” quantum technology ecosystem and a broader European effort to bridge the gap between research and the commercialisation of DeepTech. Algorithmiq says it will maintain significant operations in Finland, where it was previously headquartered.
The decision follows Italy’s National Quantum Strategy, launched in 2025, with a commitment to support the creation of a robust quantum infrastructure in Italy. Access to national and pan-European capital backing for quantum, coupled with the Italian government’s progressive policy commitments, makes Milan a highly attractive strategic base for expansion across European and global markets, stated the company.
The company states that the current quantum computing story has mainly focused on the fierce competition to build hardware. However, it believes that as this industry matures, building better machines remains essential, but it is no longer enough: without major advances in algorithmic efficacy, quantum hardware risks becoming impossible to commercialise and therefore muted in its real-world impact.
Rather than competing in the capital-intensive race for hardware, Algorithmiq mentions that developing and scaling the algorithmic layer that helps quantum machines become tools of industrial value. Algorithmiq’s decision to establish Milan HQ reflects a deliberate European bet on quantum’s software layer as the primary area of future innovation in the sector, says the company.
Algorithmiq is the software counterpart to the top quantum hardware companies, collaborating with Google, IBM, Microsoft, AWS, Rigetti, Cleveland Clinic, and CERN.
Jacopo Drudi, Partner at United Ventures, added, “With quantum, Europe has the opportunity to set the pace rather than follow it. Italy has always been at the frontier of the mathematical and physical sciences — from Leonardo to Fermi to Marconi — and that foundation gives us a structural advantage in this next technological revolution. Bringing a world-class international team like Algorithmiq to Milan is a win not just for United Ventures, but for the country. We are building a continental tech titan, and for European quantum talent looking to come home, Italy now has a place where they can do their best work.”
Milan will serve as the base for Algorithmiq to further its commercial operations as the software partner to the world’s leading quantum hardware companies. From Italy, Algorithmiq also plans to expand its rapidly growing team and leverage the region’s growing strategic focus on quantum.
Algorithmiq has recently become the sole winner of the €1.7 million ($2 million) Wellcome Leap Q4Bio Challenge, making it the first company ever to prove that end-to-end quantum-classical algorithms can simulate complex therapeutics.
In 2025, Algorithmiq also became the first company globally to achieve quantum advantage for a useful scientific problem using an Algorithmiq-designed model on IBM quantum hardware. This followed the launch of its commercially available quantum product, an algorithm for noise mitigation designed for researchers and industry practitioners alike, on IBM’s Qiskit Functions Catalogue.
The company noted that it achieved an “exceptional” performance in 2025, with Algorithmiq securing significant commercial deals with Microsoft, IBM, and Rigetti. In 2023, the company raised €13.7 million in a Series A round led by Inventure VC.