Finland-based quantum computing startup IQM has announced plans to become one of Europe’s first publicly listed companies in the sector.
The company will merge with special purpose acquisition company (SPAC) Real Asset Acquisition Corp as part of a New York listing, giving IQM an initial equity valuation of US$1.8 billion, CNBC reported.
The deal is subject to shareholder approval and regulatory conditions, with completion expected around June, followed by the listing. IQM is also considering a dual listing on the Helsinki stock exchange.
Founded in 2018, IQM raised US$320 million in a Series B round in September, valuing the company at US$1 billion.
US cybersecurity-focused firm Ten Eleven Ventures led the round, with Finnish venture capital firm Tesi also participating.
IQM builds full-stack, open-architecture quantum systems that customers can deploy on-premise or access via the cloud.
The merger could provide over US$300 million in funding through private investment in public equity (PIPE) financing and cash held in the SPAC’s trust account, assuming no redemptions.
“Whilst progress has been slow and there have been many challenges, we are starting to see meaningful breakthroughs in the quantum space,”
UBS analysts wrote in January.
“Quantum computing is a science project no more,”
said Jan Goetz, cofounder and CEO at IQM.
“It is an industry where customers own, operate and build on advanced quantum computers.”
IQM has sold 21 quantum systems to 13 customers and generated at least US$35 million in unaudited revenue in 2025.
As some companies aim for commercial deployment by the end of the decade, discussions are under way on integrating quantum computers with the data centre sector.
Featured image credit: Edited by Fintech News Switzerland, based on image by mindandi via Freepik
