Stockholm-based FirstQFM raises €1.2 million to accelerate commercial quantum computing with proprietary foundation models

Stockholm-based quantum technology company FirstQFM AB has raised €1.2 million (13.1 million SEK) in pre-seed funding to advance its patent-pending AI foundation models for quantum computing. The round was led by BSV Ventures, with participation from Almi Invest, Further than Capital, and Luminar Ventures.

The funding will accelerate the development of FirstQFM’s proprietary technology, support pilot projects, and enhance the performance of Noisy Intermediate-Scale Quantum (NISQ) devices — a key step toward making quantum computing 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 and Co-founder of FirstQFM AB.

Quantum computing holds immense potential across fields such as chemistry, finance, life sciences, and mobility. However, challenges related to device calibration and error correction continue to hinder commercial applications. FirstQFM aims to address these barriers by improving performance across multiple layers of the quantum 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 develops machine learning foundation models designed to enhance the performance and scalability of quantum computers. With a global network of partners and experts, the company is working to accelerate the transition of quantum computing from experimental stages to real-world industrial use.

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