IQM Quantum Computers Goes Public on Nasdaq

Jan de Vries · 2026-07-03

### A Historic Step for European Quantum Computing Finland's IQM Quantum Computers has officially gone public, raising $146 million in PIPE financing as part of its dual listing on the Nasdaq in the U.S. and the Helsinki Stock Exchange. This marks the first time a European quantum technology company has entered the public markets. The PIPE (private investment in public equity) round included backing from Tesi, Finland's state-owned investment firm, along with major Finnish pension funds like Ilmarinen, Elo, and Varma. With this move, IQM positions itself at the forefront of the quantum computing boom. ### What This Means for the Industry Quantum computing is no longer just a lab experiment. Companies and governments are investing heavily in quantum infrastructure, and IQM's IPO signals that the technology is maturing. "We are moving from exploration to implementation," says Jan Goetz, CEO and co-founder of IQM. IQM was founded in 2018 as a spin-out from Aalto University. It specializes in superconducting quantum computers and offers full-stack systems, cloud access, and on-premises deployment. The company now employs over 400 people across Europe, Asia, and North America. ### A Strong Financial Position The IPO leaves IQM with a pro forma cash position of roughly $387 million. In total, the company has raised $545 million in growth financing since its founding. Tesi, which has been an investor since 2019, holds a stake of over 9% and plans to remain a long-term owner. ### Global Reach and Key Customers IQM has sold 23 quantum computers worldwide. Its systems are already operational at major research centers, including: - CINECA in Italy - Leibniz Supercomputing Center in Germany - Oak Ridge National Laboratory in the U.S. The company also opened its first Quantum Technology Center in Maryland as part of its U.S. expansion. In Asia, Toyo Corporation became the first enterprise in Japan to purchase an IQM system. And in Poland, Galaxy became the first private enterprise globally to buy a quantum computer from IQM. ### Why This Matters for the U.S. Market For U.S. professionals in the quantum and startup space, IQM's dual listing is a big deal. It shows that European deep tech companies can compete on a global stage. The company's open-architecture approach allows customers to own and operate their quantum hardware, which is appealing for industries like pharmaceuticals, finance, and logistics. As Pia Santavirta, CEO of Tesi, puts it: "Finland is emerging as a European powerhouse in building research-driven growth companies." With IQM now public, the race to scale quantum computing is heating up. ### The Road Ahead IQM's journey from a university spin-out to a publicly traded company is a testament to the growing commercial viability of quantum tech. With $545 million in total funding and a clear strategy for scaling adoption, the company is well-positioned to lead the next wave of computing innovation. For investors and tech enthusiasts, IQM is a name to watch. The quantum revolution is here, and it's only just beginning.