Stockholm-based FirstQFM raises €1.2 million to accelerate commercial quantum computing with proprietary foundation models
Stockholm-based FirstQFM AB, a quantum technology company, has secured €1.2 million in pre-seed funding. This investment, led by BSV Ventures and supported by Almi Invest, Further than Capital, and Luminar Ventures, aims to accelerate the development of FirstQFM's proprietary AI foundation models. This development is designed to improve the performance and scalability of quantum computers. The funding will be used to advance FirstQFM's patent-pending technology and support pilot projects. A key focus is enhancing the capabilities of Noisy Intermediate-Scale Quantum (NISQ) devices. This is a vital step in making quantum computing more reliable for commercial application. The company's technology targets device performance, scalability, and availability, with partnerships planned with quantum hardware developers. FirstQFM's technology has the potential to reshape quantum technology deployment, reducing costs and time to produce outcomes across various quantum hardware systems. This innovation is set to unlock the value of quantum computing across multiple industries. The technology shows significant gains on superconducting hardware and is positioned to make a strong impact on the emerging quantum computing sector, driving quantum computing from experimental phases to real-world industrial applications. The company, founded by Vish Ramakrishnan and Isaiah Hull, is focused on the practical application of quantum computing. This technology offers a European contribution to an emerging global field, which could enhance digital sovereignty. The company is focused on facilitating quantum computing's move into industrial applications.
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