IQM Goes Public: European Quantum First on Nasdaq

Jan de Vries · 2026-07-03

Espoo-based quantum computing company IQM Quantum Computers has officially gone public. The move comes with a hefty $146 million (€127 million) in PIPE financing, part of its dual listing on both U.S. and Finnish stock exchanges. This private investment, arranged alongside the listing, saw participation from Tesi. Other shareholders at listing include Ilmarinen, Elo, and Varma. ### The Quantum Inflection Point "Quantum computing is reaching an inflection point. Around the world, organizations are moving from exploration to implementation," says Jan Goetz, CEO and co-founder of IQM. "They are investing in quantum infrastructure and building the capabilities that will define the next generation of computing." Goetz added that IQM enters the public markets from a position of strength. The company boasts leading technology, a growing global customer base, and a clear strategy for scaling commercial adoption. ### From Startup to Public Company Founded in 2018 and spun out from Aalto University, IQM started as a DeepTech company. It focuses on superconducting quantum computers. Today, the firm delivers full-stack quantum systems and cloud platform access to enterprises, research institutions, and national laboratories. With major operations in Munich, IQM employs over 400 people across Europe, Asia, and North America. Trading began on both the Helsinki Stock Exchange and U.S. markets, making IQM the first European quantum technology company to go public. It is also the first company to be dual-listed in Finland and the United States. ### Financial Strength and Global Reach According to the company, the transaction leaves IQM with a pro forma cash position of approximately $386 million (€337 million). Tesi, also known as Finnish Industry Investment Ltd, has been an investor since 2019 and holds over 9% ownership. In total, IQM has raised $545 million (€475 million) in growth financing. "Finland is emerging as a European powerhouse in building research-driven growth companies," says Tesi CEO Pia Santavirta. "Europe's first listing of a quantum technology company is taking place right here in Finland." ### Real-World Deployments IQM has sold 23 quantum computers worldwide. Its Production Quantum model offers full-stack, open-architecture systems that customers can own and operate. This on-premises deployment model gives direct ownership and control over quantum infrastructure. The company also offers quantum computing through cloud access in its own sovereign data center. Key customers and partners include: - CINECA in Italy - Leibniz Supercomputing Center in Germany - Department of Energy's Oak Ridge National Laboratory in the United States IQM has also opened its first Quantum Technology Center in Maryland as part of its U.S. expansion. ### Expanding Across Continents In Asia, IQM secured what it calls the first enterprise quantum computer purchase in Japan. Toyo Corporation acquired an IQM system to accelerate industrial quantum computing applications. This broadens access for Japanese enterprises and research organizations. Poland-based Galaxy became the first private enterprise globally to buy a quantum computer from IQM. The purchase focuses on technological sovereignty and in-house control of infrastructure. "Ambitious DeepTech companies like IQM are cornerstones of Finland's growth," says Juha Lehtola, Tesi's Director of Venture and Growth Investments. "Tesi has strongly supported IQM's path to listing and will continue as a growth owner." With governments and enterprises now investing heavily, IQM's public debut signals a new era for quantum computing. The company is positioned to lead as the technology moves from labs to real-world applications.