IQM Goes Public: European Quantum Computing First

Jan de Vries · 2026-07-03

### A Major Milestone for Quantum Computing Espoo-based IQM Quantum Computers has officially gone public. The company raised $146 million in PIPE financing as part of its move onto the public markets in both the U.S. and Finland. This marks a huge step for the European quantum computing scene. The PIPE, which stands for private investment in public equity, included participation from Tesi. Other shareholders at listing include Ilmarinen, Elo, and Varma. It's a big vote of confidence from major Finnish investors. ### What This Means for the Industry "Quantum computing is reaching an inflection point," says Jan Goetz, CEO and co-founder of IQM. "Around the world, organizations are moving from exploration to implementation, investing in quantum infrastructure." He's right. We're seeing real momentum here. IQM enters the public markets from a position of strength. They have leading technology, a growing global customer base, and a clear strategy for scaling commercial adoption. It's an exciting time. ### The Company's Journey So Far Founded in 2018, IQM spun out from Aalto University as a DeepTech company. They focus on superconducting quantum computers. The company delivers full-stack quantum systems and cloud platform access to enterprises, research institutions, and national labs. They now employ more than 400 people across Europe, Asia, and North America. Major operations are based in Munich. The team has grown fast. ### Dual Listing and Financial Position Trading began on the Helsinki Stock Exchange and in the U.S. IQM is the first quantum technology company in Europe to go public. It's also the first company to be dual-listed on both exchanges. The transaction leaves IQM with a pro forma cash position of about $387 million. That's a lot of runway. Tesi has been an investor since 2019 and will continue as an owner. Their stake exceeds 9%. In total, IQM has raised $545 million in growth financing. ### Global Reach and Customer Base IQM has sold 23 quantum computers worldwide. Their Production Quantum model focuses on full-stack, open-architecture systems. Customers can own, operate, and build on these systems. The on-premises deployment model gives customers direct control over their quantum infrastructure. IQM also offers cloud access through its own sovereign data center. Here are some of their key customers: - CINECA in Italy - Leibniz Supercomputing Center in Germany - Oak Ridge National Laboratory in the U.S. They've also opened their first Quantum Technology Center in Maryland as part of U.S. expansion. ### International Expansion In Asia, IQM secured the first enterprise quantum computer purchase in Japan. Toyo Corporation acquired an IQM system to accelerate industrial applications. This broadens access for Japanese enterprises. Poland-based Galaxy was the first private enterprise worldwide to buy a quantum computer from IQM. The purchase focused on technological sovereignty and in-house control. ### What's Next "Finland is emerging as a European powerhouse in building research-driven growth companies," says Tesi's CEO Pia Santavirta. "Europe's first listing of a quantum technology company is taking place right here in Finland." IQM is well-positioned for the future. With strong financial backing and a growing customer base, they're set to scale commercial adoption. The quantum computing race is heating up, and IQM is leading in Europe.