IQM Quantum Computers
Category: AI Infrastructure
IQM is a European leader building on-premises, full-stack superconducting quantum computers designed for supercomputing centers, research labs, and industrial customers. IQM Quantum Computers was founded in 2018. The company is led by Dr. Jan Goetz. Based in Espoo, Finland. Team size: 201-500. Total funding raised: $745M+. Latest round: IPO. Key investors include Ten Eleven Ventures, World Fund, Tesi, Bayern Kapital, OurCrowd, Elo Mutual Pension Insurance, Varma Mutual Pension Insurance, Ilmarinen, EIC Fund, Schwarz Group, Winbond Electronics.
- Founded
- 2018
- Headquarters
- Espoo, Finland
- Team size
- 201-500
- Total funding
- $745M+
Value proposition
To deliver quantum advantage through a unique, application-specific, co-design approach, building hardware that is optimized to solve specific problems, leading to faster results.
Products and solutions
IQM Radiance: A high-performance quantum computing system available with 20 qubits and upgradable to 54 and 150 qubits, designed for research and HPC centers., IQM Spark: A 5-qubit system tailored for universities and research labs for educational and basic research purposes., IQM Halocene: Open and transparent system designed to unlock quantum error correction, starting with 150-qubit system commercially available by end of 2026, extending to 1,000+ qubits., IQM Resonance: A fully managed quantum cloud service providing access to IQM's latest hardware for enterprises and academia.
Unique value
As a leading European quantum company, IQM's uniqueness lies in its full-stack, in-house manufacturing capabilities and its co-design approach, where hardware is tailored for specific applications. This allows for faster development and potential for achieving quantum advantage sooner.
Target customer
High-Performance Computing (HPC) centers, research institutions, universities, and industrial clients seeking quantum advantage for specific applications.
Industries served
High-Performance Computing (HPC), Research and Education, Financial Services (e.g., portfolio optimization), Climate Technology, Drug Discovery and Life Sciences
Technology advantage
IQM's key advantage is its vertical integration, controlling the entire process from chip fabrication to software development. Their application-specific co-design model allows them to build quantum computers optimized for particular algorithms and problems, which is a significant differentiator from general-purpose quantum machine builders.
How they differentiate
IQM focuses on building superconducting quantum computers for HPC centers and research labs. They co-design the systems with their customers to solve specific problems, which is a key differentiator from competitors who may offer more general-purpose machines.
Main competitors
Rigetti Computing, IonQ, D-Wave Systems
Key partnerships
VTT Technical Research Centre of Finland: Finland's first quantum computer and ongoing collaboration., Leibniz Supercomputing Centre (LRZ): Quantum-HPC integration., DATEV: Financial portfolio optimization exploration., Eviden (Atos): Quantum programming / application development., Multiverse Computing, Beyond Limits, HQS Quantum Simulations: Software/algorithm partners., TOYO Corporation: Japan distribution and enterprise purchase., NVIDIA: Agentic calibration / NVQLink (incl. Zurich Instruments QEC demonstrator Mar 2026)., Hewlett Packard Enterprise: Commercial HPC integration., AWS: Amazon Braket (54-qubit)., Bechtle AG: Heilbronn University deployment., LUMI AI Factory / EuroHPC: Halocene H4 selected for CSC Kajaani (Jul 2026)., Deutsche Bahn: Quantum algorithm for railway scheduling on operational data (Jul 2026).
Notable customers
VTT Technical Research Centre of Finland, Leibniz Supercomputing Centre (LRZ), CSC – IT Center for Science / LUMI AI Factory, TOYO Corporation, Oak Ridge National Laboratory, Cineca, Poznań University of Technology, Galaxy Systemy Informatyczne (Poland), Aalto University, Heilbronn University (via Bechtle)
Major milestones
Became a unicorn in 2025, Launched Finland's first quantum computer, Largest Series B in quantum computing (Sep 2025), SPAC merger with RAAQ closed July 1, 2026; ADSs listed Nasdaq IQMX / Helsinki dual listing (~$1.8B pre-money), €50M BlackRock/Kreos debt facility (Mar 2026), Halocene product line for QEC (Nov 2025), First Japan enterprise system via TOYO (2025/2026), LUMI AI Factory selected IQM Halocene H4 for CSC Kajaani (Jul 2026), Acquired Quantistry GmbH assets (Jul 2026), Deutsche Bahn quantum railway-scheduling demo (Jul 2026)
Growth metrics
Public (Nasdaq: IQMX). FY2025 revenue ~€31–36M; H1 2026 revenue €8.9M (46% GM); FY2026 revenue guidance €42–47M; order backlog >€102M (end Q2 2026); 26+ systems sold; 400+ employees (Aug 2026).
Market positioning
IQM is positioned as the European leader in quantum computing, building on-premises quantum computers for supercomputing centers and national quantum labs.
Geographic focus
Primarily focused on Europe, but with recent funding, they are expanding their operations globally, including North America and Asia.
Patents and IP
As of July 31, 2026: 170 active patent families, 339 patent applications and 130 issued patents worldwide, plus trade secrets, utility models, designs and trademarks (SEC prospectus). Technology roots in Aalto University / VTT spin-off R&D.
About Dr. Jan Goetz
Dr. Jan Goetz: Quantum physicist with a doctorate on superconducting quantum circuits from the Technical University of Munich. He also worked as a Marie-Curie Fellow at Aalto University in Finland. Co-founder and CEO of IQM.
More AI Infrastructure companies
Official website: https://iqm.tech/
