IQM Goes Public on Nasdaq in European Quantum First

Jan de Vries · 2026-07-03

Espoo-based quantum computing company IQM Quantum Computers has become publicly traded, raising $146 million in PIPE financing as part of its move onto the public markets in both the U.S. and Finland. This PIPE financing, a private investment arranged alongside the listing, included participation from Tesi. Additional shareholders at listing include Ilmarinen, Elo, and Varma. ### What This Means for Quantum Computing "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," says Jan Goetz, CEO and co-founder of IQM Quantum Computers. "IQM enters the public markets from a position of strength, with leading technology, a growing global customer base, and a clear strategy for scaling the commercial adoption of quantum computing. We are excited to begin this next chapter as a public company." ### The Company's Background and Growth The former scale-up was founded in 2018 and spun out from Aalto University as a DeepTech company focused on superconducting quantum computers. The company delivers full-stack quantum systems and cloud platform access to enterprises, research institutions, universities, high-performance computing centers, and national laboratories. It also has major operations in Munich and employs more than 400 people across Europe, Asia, and North America. ### Dual Listing and Market Impact Along with the expansion to the U.S., trading in IQM's shares also began today on the Helsinki Stock Exchange, allegedly making the company the first quantum technology company in Europe to go public and the first company to be dual-listed on both the Helsinki Stock Exchange and in the United States. According to the company, the transaction leaves IQM with a pro forma cash position of $387 million. Tesi, also known as Finnish Industry Investment Ltd, has been an investor in and active owner of IQM since 2019 and will continue as an owner following the listing. Tesi's ownership stake exceeds 9%. In total, IQM has raised $545 million in growth financing. ### Key Investors and Supporters - **Tesi**: Finnish Industry Investment Ltd, active owner since 2019. - **Ilmarinen, Elo, Varma**: Additional shareholders at listing. "Finland is emerging as a European powerhouse in building research-driven growth companies. We are proud to say that Europe's first listing of a quantum technology company is also taking place right here in Finland," says Tesi's CEO Pia Santavirta. ### Technological Achievements and Global Reach IQM says it has sold 23 quantum computers worldwide, positioning its Production Quantum model around full-stack, open-architecture systems that customers can own, operate, and build on. Its on-premises deployment model is designed to give customers direct ownership and control over their quantum infrastructure, while the company also offers quantum computing through cloud access running in its own sovereign data center. The company's systems are already operational at institutions and supercomputing centers including CINECA in Italy, the Leibniz Supercomputing Center in Germany, and the 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. In Asia, IQM has secured what it describes as the first enterprise quantum computer purchase in Japan, with Toyo Corporation acquiring an IQM system to accelerate industrial quantum computing applications and broaden access to quantum technologies for Japanese enterprises and research organizations. The company also points to Poland-based Galaxy as the first private enterprise in the world to buy a quantum computer from IQM, framing the purchase around technological sovereignty and in-house control of infrastructure. ### What's Next for IQM "Ambitious DeepTech companies like IQM are cornerstones of Finland's growth. Tesi has strongly supported IQM's path to listing and will continue as a growth owner of the company following the listing as well," says Juha Lehtola, Tesi's Director of Venture and Growth Investments. With governments and enterprises increasingly investing in quantum infrastructure, IQM is well-positioned to lead the charge. The company's dual listing on Nasdaq and the Helsinki Stock Exchange marks a significant milestone for European quantum technology, and its growing customer base across continents signals strong demand for its systems. As quantum computing moves from exploration to implementation, IQM's open-architecture approach and on-premises deployment model give it a unique edge in the market.