IQM Quantum Goes Public in Historic Nasdaq Debut

Jan de Vries · 2026-07-03

Finnish quantum computing leader IQM Quantum Computers has officially gone public, raising $146 million in PIPE financing as part of its dual listing on both the Nasdaq and the Helsinki Stock Exchange. This marks the first time a European quantum technology company has entered the public markets. The private investment round that accompanied the listing included participation from Finnish state-backed investor Tesi, along with major pension funds Ilmarinen, Elo, and Varma. The move positions IQM as a pioneer in the quantum space, bridging the gap between cutting-edge research and real-world commercial applications. ### A Quantum Leap for European Tech IQM was founded in 2018 as a spinout from Aalto University in Espoo, Finland. It started as a deep-tech company focused on superconducting quantum computers and has since grown into a full-stack quantum systems provider. Today, the company employs over 400 people across Europe, Asia, and North America. CEO and co-founder Jan Goetz captured the moment perfectly: "Quantum computing is reaching an inflection point. Around the world, organisations are moving from exploration to implementation, investing in quantum infrastructure and building the capabilities that will define the next generation of computing." ### What Makes IQM Different? Unlike many quantum companies that offer only cloud-based access, IQM sells full-stack, open-architecture quantum systems that customers can own and operate on their own premises. This on-premises model gives organizations direct control over their quantum infrastructure, which is a big deal for industries that prioritize data sovereignty and security. The company has already sold 23 quantum computers worldwide. Some of its notable customers include: - CINECA in Italy - The Leibniz Supercomputing Center in Germany - The U.S. Department of Energy's Oak Ridge National Laboratory - Toyo Corporation in Japan (the first enterprise quantum computer purchase in Japan) - Galaxy in Poland (the first private enterprise globally to buy an IQM system) ### Financial Snapshot and Future Plans With this listing, IQM now holds a pro forma cash position of $387 million (based on the euro-to-dollar conversion at the time of the announcement). In total, the company has raised $545 million in growth financing since its founding. The company also opened its first Quantum Technology Center in Maryland as part of its U.S. expansion. This facility will serve as a hub for research, development, and customer engagement in North America. ### What This Means for the Industry Tesi's CEO Pia Santavirta highlighted the significance of this milestone: "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." The listing is a strong signal that quantum computing is moving from theoretical research into practical, commercial territory. As more governments and enterprises invest in quantum capabilities, companies like IQM are well-positioned to lead the charge. For U.S.-based investors and tech professionals, IQM's dual listing offers a rare opportunity to gain exposure to European quantum innovation through a familiar public market structure. The company's focus on open-architecture systems and on-premises deployment could also appeal to organizations that are wary of vendor lock-in. ### The Road Ahead IQM's journey from a university spinout to a publicly traded company is a testament to the growing maturity of the quantum computing sector. With a solid financial foundation, a growing customer base, and a clear strategy for scaling commercial adoption, the company is poised to make a significant impact on the future of computing. As Goetz put it: "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." For anyone tracking the quantum computing space, IQM is definitely a name to watch.