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 milestone marks a major step for European quantum tech. ### The PIPE Financing Details The PIPE financing, a private investment arranged alongside the listing, included participation from Tesi. Additional shareholders at listing include Ilmarinen, Elo, and Varma. This backing shows strong institutional confidence in IQM's future. ### Why This Matters "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 and building the capabilities that will define the next generation of computing." He adds, "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." ### A DeepTech Success Story Founded in 2018 and spun out from Aalto University, IQM started as a DeepTech company focused on superconducting quantum computers. Today, it delivers full-stack quantum systems and cloud platform access to enterprises, research institutions, universities, high-performance computing centers, and national laboratories. The company employs more than 400 people across Europe, Asia, and North America, with major operations in Munich. ### Dual Listing and Cash Position Trading in IQM's shares began on the Helsinki Stock Exchange, making it 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 $386 million. ### Investor Confidence Tesi, also known as Finnish Industry Investment Ltd, has been an investor in 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. "Finland is emerging as a European powerhouse in building research-driven growth companies," says Tesi's CEO Pia Santavirta. "We are proud to say that Europe's first listing of a quantum technology company is also taking place right here in Finland." ### Global Reach and Customer Base IQM has sold 23 quantum computers worldwide. Its Production Quantum model focuses on full-stack, open-architecture systems that customers can own, operate, and build on. The on-premises deployment model gives customers direct ownership and control over their quantum infrastructure. IQM also offers quantum computing through cloud access running in its own sovereign data center. ### Key Customers - **Europe:** Systems operational at CINECA in Italy and the Leibniz Supercomputing Center in Germany. - **United States:** Systems operational at the Department of Energy's Oak Ridge National Laboratory. IQM has also opened its first Quantum Technology Center in Maryland. - **Asia:** IQM secured the first enterprise quantum computer purchase in Japan, with Toyo Corporation acquiring an IQM system to accelerate industrial applications. - **Global:** Poland-based Galaxy is the first private enterprise in the world to buy a quantum computer from IQM, framing the purchase around technological sovereignty. ### What's Next "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 of the company following the listing as well." With governments and enterprises increasingly investing in quantum infrastructure, IQM is well-positioned to lead the next wave of computing innovation.