Quantum Firm IQM to Go Public at $1.8B Valuation
Quantum computing firm IQM is planning to go public through a SPAC merger at a valuation of $1.8 billion. The move signals continued investor confidence in the deep tech sector. Advances in quantum computing are expected to have downstream effects on complex fields like AI and location analytics.
- The merger is with a special purpose acquisition company (SPAC) named Real Asset Acquisition Corp. (RAAQ) and is expected to provide IQM with over $450 million in cash. The deal makes IQM the first European quantum computing company to go public. - Founded in 2018, the Finland-based company has raised $600M in total funding over 9 rounds prior to the public offering. Its most recent funding was a $320M Series B round in September 2025. - IQM builds full-stack superconducting quantum computers, operating its own chip fabrication facility with the capacity to produce up to 20 quantum computers per year. - As of year-end 2025, the company reported at least $35 million in unaudited revenue and over $100 million in bookings. It has sold 21 systems to 13 customers, including four of the world's top 10 supercomputing centers. - The company's technical roadmap has a goal of achieving fault-tolerant quantum computing by 2030, with intermediate goals of delivering Noisy-Intermediate Scale Quantum (NISQ) solutions by 2026. - The move is part of a larger trend of quantum companies seeking public funding, with competitors like Canada's Xanadu and Honeywell-owned Quantinuum also reportedly looking to go public. - For AI applications, quantum computing aims to accelerate machine learning by more efficiently processing high-dimensional data and complex optimization problems, which is relevant for logistics and route planning. - IQM has established strategic partnerships with major tech players like NVIDIA, Hewlett Packard Enterprise, and AWS to integrate its quantum systems with high-performance computing platforms.
