Quantum‑computing startup Algorithmiq announced a €18 million Series B round, pulling investors from Europe and beyond. The cash will fund the commercial rollout of its proprietary quantum algorithms and expand a nascent client base in finance and materials science. With the financing secured, the company is set to accelerate product development and hiring, across its European offices while strengthening its R&D pipeline.

The round was led by a consortium that includes venture firms focused on deep‑tech, though specific names were not disclosed. Existing backers also participated, signalling confidence in Algorithmiq’s roadmap to deliver hardware‑agnostic software that can run on emerging quantum processors. The infusion pushes the startup’s valuation into the high‑hundreds of millions and positions it for strategic partnerships with major cloud providers.

Relocating its headquarters from Helsinki to Milan reflects a broader trend of quantum firms gravitating toward Italy’s growing tech ecosystem and favorable fiscal incentives. Milan offers proximity to a vibrant financial hub, aligning with Algorithmiq’s target market. The move underscores the startup’s ambition to become a European leader in quantum‑software services and to attract top talent from across the continent.