IQM Goes Public on Nasdaq in European Quantum First

·
Listen to this article~2 min

IQM Quantum Computers goes public on Nasdaq and Helsinki Stock Exchange, raising $146M in PIPE financing. The European quantum pioneer has sold 23 systems globally.

Espoo-based quantum computing company IQM Quantum Computers has officially gone public, raising $146 million in PIPE financing as part of its dual listing on the Nasdaq and the Helsinki Stock Exchange. This marks a major milestone for European quantum tech. ### The PIPE Financing Details The PIPE (private investment in public equity) financing included participation from Tesi, along with shareholders like Ilmarinen, Elo, and Varma. The deal leaves IQM with a pro forma cash position of $387 million. ### What This Means for Quantum Computing "Quantum computing is reaching an inflection point," says Jan Goetz, CEO and co-founder of IQM. "Organizations are moving from exploration to implementation, investing in quantum infrastructure and building capabilities that will define the next generation of computing." IQM, spun out from Aalto University in 2018, builds full-stack superconducting quantum computers. It has sold 23 systems worldwide, with customers including CINECA in Italy, the Leibniz Supercomputing Center in Germany, and Oak Ridge National Laboratory in the U.S. The company also has a new Quantum Technology Center in Maryland. ### Key Investors and Growth Journey Tesi, also known as Finnish Industry Investment Ltd, has been an investor since 2019 and now holds over 9% of IQM. In total, IQM has raised $545 million in growth financing. "Finland is emerging as a European powerhouse in building research-driven growth companies," says Tesi CEO Pia Santavirta. ### Global Expansion and Market Reach IQM employs over 400 people across Europe, Asia, and North America. In Japan, Toyo Corporation became the first enterprise to buy a quantum computer from IQM. Poland-based Galaxy was the first private enterprise globally to do so. ### What's Next With governments and enterprises increasingly betting on quantum, IQM's public listing gives it a strong platform to scale. The company offers both on-premises systems and cloud access through its sovereign data center. "Ambitious DeepTech companies like IQM are cornerstones of Finland's growth," says Juha Lehtola, Tesi's Director of Venture and Growth Investments.

📌 Worth Reading Next