FirstQFM Secures €1.2 Million to Accelerate Commercial Quantum Computing With Proprietary Foundation Models

Insider Brief

• FirstQFM AB, a Stockholm-based quantum technology company, raised €1.2 million (about $1.3 million USD) in pre-seed funding led by BSV Ventures, with participation from Almi Invest, Further than Capital, and Luminar Ventures.
• The investment will accelerate the development of FirstQFM’s patent-pending AI foundation models designed to improve performance, scalability, and reliability across the quantum computing stack.
• The company is partnering with quantum hardware developers to enhance device calibration and error correction, aiming to advance the utility of NISQ-era machines and support progress toward fault-tolerant quantum computing.

PRESS RELEASE — FirstQFM AB, a Stockholm-based quantum technology company, has raised €1.2 million (13.1 million SEK) in pre-seed funding led by BSV Ventures, with participation from Almi Invest, Further than Capital and Luminar Ventures.

The funding will accelerate the development of FirstQFM’s patent-pending AI foundation models, enhancing performance across multiple layers of the quantum stack to make quantum computers more reliable and scalable.

 “The funding will help support the further development of FirstQFM’s proprietary patent-pending technology, execution of ongoing pilot projects and enable the usefulness of NISQ era quantum machines” said Vish Ramakrishnan, CEO & Co-Founder of FirstQFM AB. 

Quantum computing has the potential to unlock substantial business and scientific value in chemistry, finance, the life sciences, and mobility, but only if the current challenges with device calibration and error correction can be overcome. FirstQFM is working to develop a critical piece of the solution.

“Our technology improves device performance, scalability, and availability. We are partnering directly with quantum hardware developers and will work with them on the path to fault tolerance,” said Isaiah Hull, Chief Technology Officer and Co-Founder of FirstQFM AB.

“The beauty of first QFM’s solution is the way it’s reshaping how quantum technology can be deployed to unlock customer value. By massively reducing the costs and time it takes to get outcomes and run workloads – eventually from any quantum hardware – it makes the powerful capabilities of quantum available to more industries.” said Erik Bhullar, General Partner, BSV Ventures.

“We were impressed by the performance gains FirstQFM achieved on superconducting hardware. Excited to see this developed further and rolled out across the various quantum modalities. The value is apparent,” said Peter Gullander, Fund Manager, Almi Invest.

“This is a transformative technology with applications across major verticals. We have received great feedback from our industry experts about its potential and are excited to support its development,” said Reid Jackson, Partner, Luminar Ventures.

“FirstQFM’s technology, intellectual property, and global partnerships position it to have a strong impact on the emerging quantum computing sector,” added Stefan Lindeberg, Partner, Further Than Capital.