IQM Makes History as First European Quantum IPO

Jan de Vries · 2026-07-03

### A Major Leap for Quantum Computing IQM Quantum Computers, based in Espoo, Finland, just went public. The company raised $146 million in PIPE (private investment in public equity) financing as part of its dual listing on the Nasdaq and the Helsinki Stock Exchange. This is a big deal—it's the first time a European quantum technology company has gone public, and the first company to be dual-listed on both exchanges. ### Who Invested? The PIPE financing included participation from Tesi (Finnish Industry Investment Ltd), along with other major Finnish investors like Ilmarinen, Elo, and Varma. Tesi has been an investor since 2019 and now holds over 9% of IQM. In total, IQM has raised $545 million in growth financing since its founding. ### What Does IQM Do? IQM builds superconducting quantum computers. The company was founded in 2018 as a spin-out from Aalto University. It delivers full-stack quantum systems and cloud platform access to enterprises, research institutions, and national labs. Its on-premises model lets customers own and control their quantum infrastructure directly. ### Global Reach IQM has sold 23 quantum computers worldwide. Its systems are already running at major institutions like CINECA in Italy, the Leibniz Supercomputing Center in Germany, and the Department of Energy's Oak Ridge National Laboratory in the United States. The company also opened its first Quantum Technology Center in Maryland as part of its U.S. expansion. ### Key Milestones - First enterprise quantum computer sale in Japan, to Toyo Corporation - First private enterprise purchase by Poland-based Galaxy - Dual-listed on Nasdaq and Helsinki Stock Exchange - Pro forma cash position of $387 million after the transaction ### What Leaders Are Saying Jan Goetz, CEO and co-founder of IQM, said: "Quantum computing is reaching an inflection point. Around the world, organizations are moving from exploration to implementation, investing in quantum infrastructure and building the capabilities that will define the next generation of computing." Pia Santavirta, CEO of Tesi, added: "Finland is emerging as a European powerhouse in building research-driven growth companies. We're proud that Europe's first listing of a quantum technology company is happening right here in Finland." ### The Big Picture IQM's listing is a signal that quantum computing is moving from labs to real-world applications. With $545 million raised and a growing customer base across the U.S., Europe, and Asia, the company is positioned to scale commercial adoption. For U.S. investors and tech professionals, this is a name to watch in the quantum space.