IQM Goes Public: European Quantum First on Nasdaq

Jan de Vries · 2026-07-03

Finland's IQM Quantum Computers just made history. The Espoo-based company went public on both the Nasdaq in the U.S. and the Helsinki Stock Exchange, raising $146 million in PIPE financing. That's a big deal for quantum computing in Europe. ### The Deal in Detail The PIPE (private investment in public equity) financing brought in major Finnish investors like Tesi, along with pension funds Ilmarinen, Elo, and Varma. Tesi has been backing IQM since 2019 and now holds over 9% of the company. After the listing, IQM has a pro forma cash position of about $387 million. ### Why This Matters Quantum computing is hitting a turning point. Companies and governments are moving from just exploring to actually building quantum infrastructure. "Around the world, organisations are moving from exploration to implementation," says Jan Goetz, IQM's CEO and co-founder. ### From Startup to Public Company IQM spun out from Aalto University in 2018 as a DeepTech company focused on superconducting quantum computers. Today, it employs over 400 people across Europe, Asia, and North America, with major operations in Munich and a new Quantum Technology Center in Maryland. ### What IQM Actually Does The company builds full-stack quantum systems and offers cloud platform access. Its on-premises deployment model lets customers own and control their quantum infrastructure directly. IQM has already sold 23 quantum computers worldwide, including to: - CINECA in Italy - Leibniz Supercomputing Center in Germany - Oak Ridge National Laboratory in the U.S. - Toyo Corporation in Japan (first enterprise quantum purchase in Japan) - Galaxy in Poland (first private enterprise to buy an IQM system) ### The European Quantum Edge IQM is the first quantum technology company in Europe to go public, and the first to dual-list on both the Helsinki Stock Exchange and in the United States. Finland is positioning itself as a European powerhouse for research-driven growth companies. "Ambitious DeepTech companies like IQM are cornerstones of Finland's growth," says Juha Lehtola, Tesi's Director of Venture and Growth Investments. ### What's Next With $545 million in total growth financing and a strong cash position, IQM is scaling up. Its open-architecture approach gives customers flexibility, and its sovereign data center model appeals to governments and enterprises that want control. As quantum computing moves from labs to real-world applications, IQM is betting that owning your quantum infrastructure will be the winning play.