Algorithmiq Closes 18 Million Euro Round Co-Led by CDP and United Ventures, Moves Global HQ From Helsinki to Milan
Quantum software startup Algorithmiq raised 18 million euros co-led by CDP Venture Capital and United Ventures, relocated its global headquarters to Milan, and pushed total funding to 36 million euros in what investors call Italy's largest quantum VC round.
Overview
Quantum software startup Algorithmiq has closed an 18 million euro funding round and relocated its global headquarters from Helsinki to Milan, according to Tech.eu. The round was co-led by Italian institutional investor CDP Venture Capital and Milan-based United Ventures, with continued participation from Finnish backer Inventure VC, as reported by BeBeez. The deal pushes the company’s total funding to 36 million euros and is being described as the largest venture capital investment in a quantum startup in Italy.
What We Know
Algorithmiq develops quantum software designed to make quantum computers useful for practical scientific and industrial workloads, focusing on chemistry, materials science, and life sciences, per BeBeez. The company was founded in 2020 by Dr Sabrina Maniscalco, who serves as CEO, with co-founders Guillermo García-Pérez as Chief Scientific Officer, Matteo Rossi as Chief Technology Officer, and Boris Sokolov as lead researcher, according to Tech Funding News.
The new round follows a 13.7 million euro Series A closed in 2023, BeBeez reports. While the global headquarters has shifted to Milan, the company says it will continue significant operations in Finland and maintains additional teams in the UK, Ireland, and the US, Tech Funding News notes.
Algorithmiq’s commercial reach spans the major quantum hardware vendors. Tech.eu lists IBM, Microsoft, Rigetti, Google, and AWS as partners, alongside Cleveland Clinic and CERN on the scientific side. The publication also reports that in 2025 the company was the first in the world to show quantum advantage for a real scientific problem, in work that the outlet says outperformed teams from Harvard, Oxford, and Stanford.
In a statement, Maniscalco framed the move as positioning the company for a commercial inflection point in quantum applications. “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,” she said, as quoted by BeBeez.
Jacopo Drudi, partner at United Ventures, tied the bet on Algorithmiq to a broader European thesis on quantum. “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,” Drudi said, according to Tech.eu.
The relocation lands against the backdrop of Italy’s National Quantum Strategy, launched in 2025 to fund infrastructure and ecosystem-building around quantum technologies, as StartupBusiness reports. Tommaso Calarco, president of the EU’s Quantum Flagship, told the outlet the deal carries signaling weight beyond a single company: “It is particularly significant when a company’s trajectory sends a broader signal as to where innovation might emerge.”
What We Don’t Know
None of the sources reviewed disclosed the company’s post-money valuation, the equity stake taken by the new co-leads, or a specific employee count tied to the Milan move. The reports also do not specify how the company will divide engineering or research staff between Milan and the retained Helsinki operation, or a timeline for any planned hiring under the new round.
Context
For Italian venture capital, the deal sits alongside other recent quantum financings tracked by The Machine Herald, including the 160 million dollar Series C closed last week by UK-based Quantum Motion, which spotlighted European silicon-CMOS qubit development. Algorithmiq’s round is on a different scale and on the software rather than hardware side of the stack, but both deals point to deepening late-stage European capital for quantum companies that have moved past pure research.