Finland-based IQM, a full-stack quantum computing company, has entered the public markets through a Nasdaq listing via SPAC, marking a milestone for Europe's quantum sector. The company was valued at about $1.9 billion, though trading opened with a cautious response.
In its prospectus, IQM acknowledged a key reality of the field: commercial-scale quantum computing may take far longer than investors hope, and its broad market breakthrough is not guaranteed. Even so, the company continues to build real-world demand through today's practical uses, including simulations and optimization workloads.
IQM sells both physical quantum computers and cloud access, serving institutions such as VTT Technical Research Centre of Finland and Leibniz Supercomputing Centre in Germany. CEO and cofounder Jan Goetz says the company is focused on supplying advanced computing centers while expanding cloud-based access to quantum resources.
The company has also grown its customer base from 8 in 2024 to 22 in 2025, including new private-sector clients. That growth reflects rising interest in the technology, even as the industry waits for the moment often described as quantum advantage -- when quantum systems begin outperforming classical computers on a wider range of complex tasks.
IQM's expansion is tied closely to Europe and the U.S. The company was founded in 2018 as a spinout from Aalto University in Espoo, and it now operates a quantum technology center in Maryland while also preparing a Nasdaq Helsinki debut. With a team spread across Finland, Germany, and other locations, IQM is positioning itself for a global role in a field still defining its long-term shape.
As quantum computing moves from promise to practice, companies like IQM may help set the pace for how this technology evolves in science, industry, and digital infrastructure.
