Algorithmiq Raises $21.3M, Moves HQ to Milan

Jan de Vries · 2026-05-11

Quantum software startup Algorithmiq just pulled off a major power move. The company raised $21.3 million (€18 million) in fresh funding and relocated its global headquarters from Helsinki, Finland, to Milan, Italy. This isn't just another funding round—it's a signal that Europe is getting serious about quantum computing. And for Algorithmiq, it's about being where the action is. ### The Funding Details The round was led by United Ventures and Italian institutional investor CDP Venture Capital, with continued support from Inventure VC. This brings Algorithmiq's total funding to $42.6 million (€36 million). The company claims this is the largest venture capital investment ever made in an Italian quantum startup. That's a big deal for Italy's tech scene. And it shows that investors are betting big on quantum software, not just hardware. ### Why Milan? You might wonder: why move from Helsinki, a known tech hub, to Milan? The answer lies in Italy's National Quantum Strategy, launched in 2025. The government committed to building a robust quantum infrastructure, and that's creating a fertile ground for startups like Algorithmiq. Dr. Sabrina Maniscalco, CEO and co-founder, put it this way: "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." Milan offers access to national and pan-European capital, plus progressive policy support. Algorithmiq will keep significant operations in Finland, but Milan is now the command center. ### The Bigger Picture: Software Over Hardware Here's where it gets interesting. For years, the quantum computing story has been all about hardware—who can build the biggest, fastest machine. But Algorithmiq is betting that the real value lies in the software layer. As Dr. Maniscalco said, "As quantum computing matures, the question is shifting from who can build the biggest machine to who can make the machines matter." Algorithmiq develops quantum software that makes quantum computers actually useful. Their work enables breakthroughs in chemistry, materials science, and life sciences through energy-efficient quantum computation. They're not trying to outspend Google or IBM on hardware. Instead, they're building the algorithmic layer that turns those machines into tools of industrial value. ### Who's Behind Algorithmiq? Founded in 2020 by Dr. Maniscalco, Guillermo García-Pérez (CSO), Matteo Rossi (CTO), and Boris Sokolov (lead researcher), the company has quickly become a key player. They collaborate with major names: - Google - IBM - Microsoft - AWS - Rigetti - Cleveland Clinic - CERN That's an impressive list. It shows that even the hardware giants recognize the need for strong software partners. ### A European Bet on Quantum Jacopo Drudi, Partner at United Ventures, summed up the ambition: "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." Algorithmiq's move to Milan is a deliberate bet that Europe can lead in quantum software. It's a bet that the continent can bridge the gap between research and commercialization of DeepTech. ### What's Next? Algorithmiq plans to use the funding to scale its operations and continue working with the biggest quantum players globally. Milan will serve as the base for that global push. For European quantum talent looking to come home, Italy now has a place where they can do their best work. And for the rest of us, it's a reminder that the quantum revolution isn't just about building bigger machines—it's about making them matter. Stay tuned. This story is just getting started.