IQM Quantum Computers

IQM Quantum Computers is a Finnish quantum computing company founded in 2018 and headquartered in Espoo, Finland. The company designs, builds, and commercialises quantum computers using superconducting technology. IQM focuses on delivering full-stack quantum computing systems that can be used in real research and industrial environments. Its work spans the full journey from the Noisy Intermediate-Scale Quantum (NISQ) era towards fault-tolerant quantum computing.

The company was created by a group of scientists who aimed to move quantum technology from theory into practical use. IQM first concentrated on developing quantum processing units (QPUs) and later expanded into building complete quantum computer systems. Its approach is user-first, giving customers full access and control over their machines. IQM builds its own commercial-grade assembly and fabrication facilities, allowing strong control over quality and scale.

IQM has grown rapidly since its founding. It raised €11.4 million in seed funding in 2019, followed by €39 million Series A1 in 2020 and €128 million Series A2 in 2022. By 2025, the company had secured more than €600 million in total funding, making it one of Europe’s most highly funded quantum companies. Its largest round, €275 million Series B in 2025, was led by Ten Eleven Ventures and Finland’s state fund Tesi, with support from the European Innovation Council and major Finnish pension funds. IQM has also received strong public backing, including a €70 million Finnish government grant for a 300-qubit project and €35 million financing from the European Investment Bank.

IQM has delivered over 30 quantum computers and completed more than 10 customer installations. It delivered its first 5-qubit system in 2021, a 20-qubit system in 2023, and a 54-qubit system in 2024. A 150-qubit computer is planned for delivery in 2025. IQM is currently the leading provider of on-premise quantum systems in Europe.

The company operates across Europe, the US, and Asia with offices in Finland, Germany, France, Spain, Singapore, Japan, South Korea, and Palo Alto. It employs over 250 people from more than 45 nationalities. IQM works closely with supercomputing centres, research institutions, and industry partners. Its systems are integrated with high-performance computing environments, including quantum accelerator projects in Finland and Germany. The company’s mission is to build world-leading quantum computers for the benefit of society, now and in the future.

IQM Quantum Computers was founded in 2018 in Espoo, Finland, by a group of scientists and engineers whose goal was to turn quantum computing research into practical systems that could be used by research institutions, supercomputing centres, and industry. At the time of its founding, most quantum computing development remained in laboratory research. IQM was created to close this gap by designing scalable quantum processors and complete quantum computing systems that could operate in real-world environments.

In 2019, the company raised €11.4 million in seed funding, which was the largest seed round ever raised by a Finnish start-up at that time. This funding allowed IQM to open its main office and a high-level laboratory facility in Espoo. During this period, the company focused on developing its first quantum processors based on superconducting technology and building the internal engineering teams needed for long-term growth.

In 2020, IQM expanded its operations to Germany and announced a €39 million Series A1 funding round. In the same year, the company launched its first working quantum computer with 5 qubits. This system marked the transition from laboratory development to product delivery. IQM also began work with VTT Technical Research Centre of Finland on national quantum computing projects supported by the Finnish government.

In 2021, IQM delivered its first 5-qubit quantum computer to a customer. That same year, the company achieved 99 percent two-qubit gate fidelity across all qubit pairs, a key technical milestone for reliable quantum operations. IQM also expanded into France and Spain and opened a new fabrication facility and clean room to support in-house chip development and system assembly.

In 2022, IQM raised €128 million in its Series A2 funding round led by World Fund. The company received the Tech Tour Growth Award for companies expected to reach a one-billion-euro valuation. It also hosted its first Superconducting Qubits and Algorithms conference to support collaboration within the quantum research community.

In 2023, IQM launched the IQM Academy to support training and education in quantum computing. The company expanded operations into the Asia-Pacific region and the United States. That year, IQM delivered its first 20-qubit quantum computer to a customer and launched IQM Radiance, its main quantum computing platform.

In 2024, IQM launched its cloud platform and delivered its first 54-qubit quantum computer. The company opened a quantum data centre in Germany and integrated quantum computing with classical high-performance computing systems, creating hybrid quantum-classical computing environments. By the end of the year, IQM had manufactured more than 30 quantum computers and received the 2024 Deloitte Technology Fast 50 award as Finland’s fastest-growing technology company.

In 2025, IQM secured a €275 million Series B funding round, the largest quantum funding round in Europe to date. The company continued its collaboration with VTT on Finland’s first commercial 54-qubit quantum computer and led the Q-Exa consortium in Germany to build a quantum system integrated with a high-performance supercomputer. IQM announced the planned delivery of a 150-qubit quantum computer by the fourth quarter of 2025. 

The company surpassed ten customer deliveries, becoming the leading provider of on-premise quantum computers in Europe over the past year. IQM now operates across Europe, the United States, and Asia, employs more than 250 people from over 45 nationalities, and remains focused on delivering scalable quantum systems as it advances towards fault-tolerant quantum computing.

IQM’s mission is to build world-leading quantum computers that bring real benefits to society today and in the future. The company works to move quantum technology from research into practical use by delivering reliable and scalable quantum systems for science, industry, and government. IQM focuses on providing full access to its hardware so that users can control, study, and improve their machines. Its work supports better research, stronger technology infrastructure, and long-term innovation. By developing quantum computers from the NISQ stage to fault-tolerant systems, IQM aims to solve complex problems in areas such as science, healthcare, energy, materials, and national security.

IQM’s vision is to become the leading European company in quantum computing hardware and a global reference point for building useful quantum systems. The company seeks to create strong quantum ecosystems where research organisations, industry, and governments can work together using advanced quantum technology. IQM aims to make quantum computing available at scale by building reliable machines, operating its own production facilities, and supporting long-term education and skills development. The company believes that transparent technology, open access, and close collaboration with users are essential for progress. Through this approach, IQM works towards reaching quantum advantage and practical fault-tolerant quantum computing.

IQM has received several major awards and recognitions for its growth, technology, and impact in quantum computing. In 2022, the company won the Tech Tour Growth Award, recognising European companies most likely to reach a one-billion-euro valuation. In 2024, IQM was named Finland’s fastest-growing technology company in Deloitte’s Technology Fast 50 programme. The company’s funding achievements have also been recognised across Europe, including its €275 million Series B round in 2025, the largest quantum funding round in Europe. IQM’s work with national research organisations and European institutions has further strengthened its position as a leading quantum computing company.

IQM Quantum Computers designs, builds, and delivers full-stack quantum computing systems based on superconducting technology. Its main product offering is the on-premise quantum computer, built for research institutions, supercomputing centres, universities, government organisations, and industrial partners. IQM’s systems are designed to support the entire journey from early-stage Noisy Intermediate-Scale Quantum (NISQ) computing towards future fault-tolerant quantum computing.

At the core of IQM’s products are its quantum processing units (QPUs). These are built using superconducting qubits developed and manufactured in IQM’s own fabrication facilities. By controlling the entire production process, from chip design to system assembly, IQM ensures consistent performance, reliability, and long-term scalability. This vertical integration allows IQM to customise its machines for specific customer needs while maintaining full control over quality and security.

IQM delivers complete quantum computer systems, not just processors. Each system includes the QPU, cryogenic cooling equipment, control electronics, software stack, and integration tools. The systems are delivered on-site at customer facilities, giving users full access and control of their hardware. This is especially important for national laboratories, supercomputing centres, and organisations that require strong data security and operational independence.

One of IQM’s flagship products is IQM Radiance, a modular quantum computing platform introduced in 2023. Radiance allows customers to scale their systems over time by upgrading processors and system components as quantum technology advances. This reduces the risk of early investment and ensures that customers remain aligned with IQM’s technical roadmap.

IQM has delivered a range of quantum computers with increasing qubit counts. These include early 5-qubit systems, 20-qubit systems delivered in 2023, and 54-qubit systems delivered in 2024. In 2025, IQM plans to deliver a 150-qubit quantum computer. The company is also actively developing larger systems, including participation in Finland’s national 300-qubit quantum project.

Alongside hardware, IQM provides a full software environment that allows users to operate, programme, and manage their quantum systems. This includes tools for quantum circuit design, system calibration, job scheduling, performance monitoring, and error analysis. IQM’s software is designed to integrate with existing high-performance computing (HPC) systems so that quantum processors can operate as accelerators inside classical supercomputing environments.

IQM launched its cloud platform in 2024. This service allows selected users to access IQM’s quantum systems remotely for testing, training, and early application development. The cloud service supports education, research collaboration, and rapid experimentation while still allowing customers to move towards on-premise deployment when required.

For industrial clients, IQM offers application-specific co-design services. This means IQM works closely with customers to tailor quantum hardware, software, and algorithms for specific real-world problems in areas such as chemistry, materials science, finance, logistics, and energy. This approach helps organisations explore practical quantum advantage rather than only theoretical performance.

IQM also provides installation, maintenance, training, and long-term support services. Through IQM Academy, launched in 2023, the company delivers education programmes for engineers, researchers, and decision-makers to build long-term quantum skills within customer organisations.