Stockholm’s FirstQFM Secures €1.2M Pre-seed Funding

The round was led by BSV Ventures, with participation from Almi Invest, Further than Capital and Luminar Ventures.

The funds will accelerate technology development, launch pilot projects, and improve the performance of Noisy Intermediate-Scale Quantum (NISQ) devices paving the way for more reliable and scalable quantum computing.

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“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 and Co-founder of FirstQFM AB.

Quantum computing has vast potential in fields like chemistry, finance, life sciences, and mobility. Yet, challenges such as device calibration and error correction limit its commercial use. FirstQFM aims to overcome these hurdles by enhancing performance across all layers of the quantum technology stack.

“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 FirstQFM’s solution is the way it’s reshaping how quantum technology can be deployed to unlock customer value,” added Erik Bhullar, Partner at BSV Ventures. “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.”

Peter Gullander, Fund Manager at Almi Invest, said: “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.”

Reid Jackson, Partner at Luminar Ventures, added: “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.”

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

Founded by Vish Ramakrishnan and Isaiah Hull, FirstQFM builds machine learning foundation models to boost the performance and scalability of quantum computers. Through collaborations with global partners and experts, the company aims to move quantum computing from experimentation to real-world industrial applications.

About FirstQFM

FirstQFM develops machine learning foundation models that enhance the performance and scalability of quantum computers. Headquartered in Stockholm with a global network, the company partners with leading quantum hardware and cloud providers to build the infrastructure enabling practical quantum breakthroughs in chemistry, finance, life sciences, and mobility.