IQM Quantum Computers — vendor dossier

IQM Quantum Computers

Quantum computers
I

Superconducting (transmon) quantum-computer vendor selling on-premises systems to HPC centres, national labs, and universities, with a Europe-led commercial footprint (Munich, Paris, Madrid, Singapore offices alongside Espoo HQ). Founded in 2018 as an Aalto University / VTT spin-out by Jan Goetz, Mikko Möttönen, Kuan Yen Tan, and Juha Vartiainen. Delivered a 54-qubit Radiance to LRZ in 2025 under Euro-Q-Exa and is contracted to deliver a 300-qubit system to VTT in 2027. Raised USD 320M in September 2025 led by Ten Eleven Ventures; SPAC merger with Real Asset Acquisition Corp announced February 2026.

HQ
Espoo, Finland
Founded
2018
Status
private
Last verified
Wed May 20 2026 08:00:00 GMT+0800 (Singapore Standard Time)

Timeline

20182019202020212022202320242025202620272028202920302031today
2018
IQM founded in Espoo as an Aalto University / VTT spin-out by Jan Goetz, Mikko Möttönen, Kuan Yen Tan, and Juha Vartiainen
2019
€11.2M seed round (Maki.vc, Tesi, MIG Fonds, Vito Ventures)
2020-11
€39M Series A; IQM Spark 5-qubit system targeted at universities and research institutes
2022-07
€128M Series A2 closes (July 2022)
2023-11
IQM Radiance announced — 150-qubit superconducting system roadmap product
2024
Euro-Q-Exa contract — IQM selected to deliver a 54-qubit Radiance in H2 2025 and a 150-qubit Radiance by end-2026, integrated with the LRZ national supercomputer
2025-05
Agreement with VTT to deliver a 150-qubit Radiance system in 2026 and a 300-qubit system (two 150-qubit processors connected) in 2027
2025
54-qubit Radiance delivery to LRZ (H2 2025) as first phase of Euro-Q-Exa
2025-09
$320M growth round led by Ten Eleven Ventures; Tesi, Elo, Varma, Schwarz Group, Winbond, EIC, Bayern Kapital participated; valuation reaches unicorn status with €515M total raised
2026-02
SPAC merger with Real Asset Acquisition Corp. announced at ~$1.8B pre-money valuation; targets Nasdaq Global Market listing under ticker IQMX with parallel Nasdaq Helsinki listing
2026
150-qubit Radiance deliveries to VTT (mid-2026) and LRZ (end-2026), purpose-built for QEC research with tunable couplers and pulse-level control access
2027
300-qubit system to VTT (two networked 150-qubit Radiance processors)
2030
Fault-tolerant quantum computing — hundreds of logical qubits via QLDPC error correction and >1M physical qubits across merged topologies
shipped milestone public roadmap

Current flagship

IQM Radiance — superconducting transmon, 20 / 54 / 150-qubit variants

Milestones

  1. 2026-02
    SPAC merger with Real Asset Acquisition Corp. announced at ~$1.8B pre-money valuation; targets Nasdaq Global Market listing under ticker IQMX with parallel Nasdaq Helsinki listing
    Quantum computers filing source ↗
  2. 2025-09
    $320M growth round led by Ten Eleven Ventures; Tesi, Elo, Varma, Schwarz Group, Winbond, EIC, Bayern Kapital participated; valuation reaches unicorn status with €515M total raised
    Quantum computers press source ↗
  3. 2025-05
    Agreement with VTT to deliver a 150-qubit Radiance system in 2026 and a 300-qubit system (two 150-qubit processors connected) in 2027
    Quantum computers press source ↗
  4. 2024
    Euro-Q-Exa contract — IQM selected to deliver a 54-qubit Radiance in H2 2025 and a 150-qubit Radiance by end-2026, integrated with the LRZ national supercomputer
    Quantum computers press source ↗
  5. 2023-11
    IQM Radiance announced — 150-qubit superconducting system roadmap product
    Quantum computers press source ↗
  6. 2022-07
    €128M Series A2 closes (July 2022)
    Quantum computers press source ↗
  7. 2020-11
    €39M Series A; IQM Spark 5-qubit system targeted at universities and research institutes
    Quantum computers press source ↗
  8. 2019
    €11.2M seed round (Maki.vc, Tesi, MIG Fonds, Vito Ventures)
    Quantum computers press source ↗
  9. 2018
    IQM founded in Espoo as an Aalto University / VTT spin-out by Jan Goetz, Mikko Möttönen, Kuan Yen Tan, and Juha Vartiainen
    Quantum computers web source ↗

Roadmap

  • 2030 Fault-tolerant quantum computing — hundreds of logical qubits via QLDPC error correction and >1M physical qubits across merged topologies source ↗
  • 2027 300-qubit system to VTT (two networked 150-qubit Radiance processors) source ↗
  • 2026 150-qubit Radiance deliveries to VTT (mid-2026) and LRZ (end-2026), purpose-built for QEC research with tunable couplers and pulse-level control access source ↗
  • 2025 54-qubit Radiance delivery to LRZ (H2 2025) as first phase of Euro-Q-Exa source ↗

Capability details

Quantum computing

Qubit type
transmon
Physical qubits
54
Logical qubits
0
1Q gate fidelity
—
2Q gate fidelity
—
T₁
—
T₂
—
EC code
—
Connectivity
nearest-neighbour
8 unverified fields
  • modalities.qc.one_q_fidelity
  • modalities.qc.two_q_fidelity
  • modalities.qc.coherence_t1_ms
  • modalities.qc.coherence_t2_ms
  • modalities.qc.ec_code
  • modalities.qc.gate_set
  • modalities.qc.physical_qubits_current — 54-qubit Radiance (LRZ delivery, H2 2025) is the largest IQM system shipped at time of writing; 150-qubit systems contracted but not yet delivered
  • shareholders — Private equity stakes not disclosed; investor list compiled from announced round participation. Post-SPAC cap table will become public on Real Asset proxy / S-4 filing.

People

  • Jan Goetz — CEO & Co-founder (since 2018) ↗
  • Mikko Möttönen — Chief Scientist & Co-founder (since 2018) ↗
  • Kuan Yen Tan — VP / Co-founder (since 2018) ↗
  • Juha Vartiainen — VP / Co-founder (since 2018) ↗

References