Finland’s pioneering quantum computing startup, IQM, has announced a landmark move to become one of Europe’s first publicly listed quantum companies. The firm is positioning itself for a merger with special purpose acquisition company Real Asset Acquisition Corp in a New York listing that values IQM at an initial $1.8 billion. Pending shareholder consent and regulatory clearance, the transaction is expected to conclude by June, with a potential dual listing on the Helsinki stock exchange further reinforcing its European ties.
Strategic Merger And Funding Milestone
Founded in 2018, IQM has raised $320 million, including a Series B round led by Ten Eleven Ventures and Finnish investor Tesi. The proposed merger is expected to generate more than $300 million through a combination of private investment in public equity and funds held in the SPAC trust account.
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The company plans to use the capital to accelerate development of full-stack, open-architecture quantum systems designed for both on-premise installations and cloud access.
Commercial Deployment And Industry Breakthroughs
Quantum computing is being developed to process complex calculations faster than traditional systems, with potential applications in medicine, scientific research, and finance. While large-scale commercial adoption remains limited, analysts note steady technical progress across the sector. Recent commentary from UBS indicates that the industry is gradually moving from research-driven experimentation toward practical use cases.
Industry Momentum Across Europe And Beyond
IQM’s progress reflects broader momentum in the European quantum ecosystem. The company has sold 21 systems to 13 customers and reported at least $35 million in unaudited revenue in 2025. Other European firms, including UK-based Quantinuum and Spain’s Multiverse Computing, have also attracted significant investment.
Globally, competition continues to intensify. China has committed close to $18 billion to quantum research, while the European Union is expanding funding initiatives aimed at strengthening regional capabilities in advanced computing.
