Finnish AI Lab QuTwo Raises €25 Million in Angel Round at €325 Million Valuation

Finnish AI lab QuTwo has raised €25 million, equivalent to $29 million, in an angel round that values the company at €325 million, or approximately $380 million, TechCrunch reported. The lab, founded by Peter Sarlin, who previously served as CEO of AMD Silo AI, focuses on AI with a nod to quantum computing in its name.

Its core product, QuTwo OS, acts as an orchestration layer that directs tasks to classical, quantum, or hybrid architectures.

Sarlin, who serves as QuTwo’s executive chairman, stated that QuTwo is an AI company. “AI is the North Star that we will continue to aim for. Quantum is just a new type of compute,” Sarlin said. QuTwo has secured $23 million in committed revenue through design partnerships, including with retail giant Zalando, where it helped develop AI assistants.

The company’s soft launch earlier this year generated significant interest, leading to its recent expansion into Sweden. QuTwo has hired 50 quantum and AI scientists to support its growth. The angel round follows QuTwo’s initial funding solely through PostScriptum, Sarlin’s family office, which also incubated NestAI.

Sarlin serves as executive chairman of NestAI, which raised $115 million in a funding round led by Finland’s sovereign fund and Nokia. Until recently, QuTwo was not seeking external funding, but Sarlin decided to accept angel investments while turning down venture capital and strategic checks. Sarlin reflected on his previous venture, noting that AMD acquired Silo AI for $665 million in 2024.

“I had a lot of investors who would have wanted to pour a lot of money into making Silo into Europe’s OpenAI, but I didn’t believe in that play,” Sarlin said. He emphasized QuTwo’s long-term mission. “We are on a mission to build the globally leading AI company for the next paradigm, given that Europe did not succeed in building the AI company for this era,” Sarlin said.