QMill’s algorithm designed for near-term quantum computers is on the path to solve a real-world problem like never before
QMill, a pioneering quantum-algorithm company based in Espoo, Finland, is announcing the first results on the efficiency of its new algorithms designed for the near-future quantum computers. According to estimations, the QMill algorithm running on a 200-qubit quantum computer with 99.99% accuracy can find the solution 700 times faster than an entire supercomputer. This result is a leap in bringing closer the quantum advantage, i.e. demonstrated supremacy of quantum computing in solving problems compared to classical computers. The company is also announcing an angel investment from Peter Sarlin.
Espoo, Finland, 7 March 2025—QMill is taking tangible steps in its mission to make quantum computing practical and accessible for real industrial use cases in the near future.
By using QMill's algorithm, a 200-qubit quantum computer with 99.99% accuracy can find a solution in just one second. In contrast, the best classical algorithm on a supercomputer takes over ten minutes to solve the same problem. When the number of qubits increases to 290, the supercomputer would need almost two years to find the solution, whereas the quantum computer can solve it in just one hour. These results are based on simulations and calculations carried out by the QMill algorithm team and are pending scientific peer review and publication.
“We are developing this algorithm to be used in a product that will verify whether a quantum computer running in the cloud is indeed a quantum computer. Market insights show that quantum computing time is already being purchased in the cloud for hundreds of millions of euros annually, and various methods are available for verification. However, we noticed that these methods can be spoofed and thus we have created a better algorithm for that. Our algorithm will be beneficial with 200 qubits, and it tolerates one error in ten thousand. Such computers are expected to emerge in 2028-2029,” says Mikko Möttönen, Chief Scientist and Co-Founder of QMill.
“Our verification algorithm is the first quantum algorithm that promises near-future advantage over classical computers when solving a real-world problem,” adds Hannu Kauppinen, CEO and Co-Founder of QMill. “This capability will become useful in the coming years as the capacity and quality of the quantum computers further develop. We hope our new results will give quantum computer providers an additional spark to further develop the accuracy of their hardware. At the same time, we continue to develop our quantum algorithms to be adapted for other business sectors, too.”
QMill is also announcing an angel investment from Peter Sarlin. “I am thrilled to be part of this promising growth story. Quantum technology will have a wide-reaching impact, from cybersecurity and financial modeling to optimization across industries like logistics and energy. If AI dominated the last decade, quantum may have a significant impact in the next decades. In fact, quantum technologies have the potential to further boost the power of AI and its future developments,” says Peter Sarlin who is the Co-Founder of Silo AI and a Professor of Practice at Aalto University in Espoo, Finland. His contribution will complement the initial funding round completed last fall, when QMill secured €4 million in seed funding from Antler, Maki.vc and Kvanted and €1 million from Business Finland.
Finland-based partner Jussi Kallasuvo from global VC Antler says, "It's exciting to see QMill advancing rapidly. Quantum advantage is no longer a distant goal, and this team might just be the first to achieve it!"
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About QMill:
QMill is a Finnish quantum-computing company founded in 2024, dedicated to developing quantum algorithms that provide near-term practical benefits for industrial applications. By leveraging near-future quantum hardware, QMill aims to solve complex optimization problems and deliver significant value across various sectors. The company is headquartered in Espoo, Finland. www.qmill.com
About AntlerAntler is the most active early-stage investor globally. The firm leads in ‘Day Zero’ investing, an approach to venture capital focused on partnering with founders pre-launch. Antler systematically removes capital and network constraints for early-stage technology entrepreneurs by providing co-founder matching, deep business model validation, initial capital, expansion support, and follow-on funding. The firm is present in 27 cities across most leading technology ecosystems globally and has made
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