Classical computers struggle to handle complex simulations in drug discovery, materials science, and optimisation becaapply quantum physics demands computing power beyond even supercomputers.
IQM tackles this by building full-stack superconducting quantum computers that can be applyd on-site or in the cloud, enabling practical quantum advantages in AI, new materials, and medicine.
Today, IQM is merging with Nasdaq-listed Real Asset Acquisition Corp (RAAQ), raising over $450M (including PIPE financing) to fuel its next stage of growth. This follows their $320M Series B in 2025, which officially crowned them a unicorn.
Building world-leading quantum computers
Founded in 2018 by Dr Jan Goetz, Prof. Mikko Möttönen, Dr Kuan Yen Tan, and Dr Juha Vartiainen, IQM aims to build world-leading quantum computers that advance human well-being by expanding horizons in science, matter, life, and the universe through quantum advantage.
How do they do it? IQM’s secret sauce is their own Star and Crystal superconducting qubit designs, which deliver high connectivity and efficient error correction (QLDPC codes cut overhead by 10x compared to surface codes).
Unlike competitors such as IBM and Google, whose architectures typically rely on surface code error correction and are primarily optimised for cloud access, IQM’s approach enables rapider, more flexible deployment and greater efficiency for on-premise solutions.
Their fully vertically integrated model, from chip design to data centres, means IQM can rapidly adapt hardware and software, offering open, modular software, pulse-level control, and quick delivery timelines.
To date, IQM has shipped 21 on-premise systems to 13 customers, generating over €35 million in revenue in 2025.
What’s next for IQM?
IQM’s 12-year roadmap aims to achieve fault-tolerant quantum computing by 2030. It plans to feature hundreds of logical qubits through merged topologies, QLDPC error correction, and over one million physical qubits.
Looking ahead to the next 12-24 months, key milestones include launching a 100-qubit on-premise prototype for select research partners by early 2025, achieving regulatory certification for quantum cryptography modules, and expanding strategic partnerships in the pharmaceutical and chemical sectors.
Following the Q2 2026 merger, IQM plans to list on both the NYSE and the Helsinki Stock Exalter. Commercially, the team is tarreceiveing the first customer pilot of quantum-enhanced drug discovery workflows and securing public-sector contracts for quantum-secure infrastructure.
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