{
    "title": "Company brief: IQM Quantum Computers",
    "notice": "Information only, not investment advice. This view does not rate, score or recommend any company or investor. Figures are as published by the sources named, with their dates; missing evidence is shown as not covered, never as a low value.",
    "generated": "2026-11-03",
    "rows_assembled": "2026-11-02",
    "company": {
        "id": "iqm",
        "name": "IQM Quantum Computers",
        "country": "FI",
        "sme_in_cordis": true,
        "brief": "/quantum-europe/investors/companies/iqm/brief",
        "cordis_organisations": [
            "cordis-org:898881541",
            "cordis-org:894285972"
        ],
        "technology_areas": [
            "computing",
            "sensing",
            "enabling"
        ],
        "eu_projects": 10,
        "eu_contribution_received_eur": 4920821.07,
        "eic_projects": {
            "sme_instrument": 1
        },
        "patents": {
            "families": 105,
            "lower_bound": false,
            "looked_up": "2026-10-23"
        },
        "publications": null,
        "deployment_records": [
            "vlq",
            "euro-q-exa"
        ],
        "rounds": [
            "iqm-2026-07-listing",
            "iqm-2026-06-pipe",
            "iqm-2025-11-eic-step-finalised",
            "iqm-2025-09-series-b",
            "iqm-2025-04-eic-step-selected"
        ],
        "signals": [
            "eu_grants",
            "patents",
            "infrastructure",
            "rounds"
        ]
    },
    "projects": [
        {
            "id": "cordis:959521",
            "acronym": "Prometheus",
            "title": "Building the first 1,000-qubit quantum computer to restore Europe’s lead in the second quantum revolution",
            "url": "https://cordis.europa.eu/project/id/959521",
            "start": "2020-08-01",
            "project_eu_contribution": 2497250,
            "currency": "EUR",
            "eic_scheme": "SME Instrument or EIC pilot (Horizon 2020)"
        },
        {
            "id": "cordis:101286304",
            "acronym": "SUPREME 1",
            "title": "SUPERCONDUCTING EUROPEAN QUANTUM PILOT LINE",
            "url": "https://cordis.europa.eu/project/id/101286304",
            "start": "2026-04-01",
            "project_eu_contribution": 24999049.41,
            "currency": "EUR",
            "eic_scheme": null
        },
        {
            "id": "cordis:101113946",
            "acronym": "OpenSuperQPlus100",
            "title": "Open Superconducting Quantum Computers (OpenSuperQPlus)",
            "url": "https://cordis.europa.eu/project/id/101113946",
            "start": "2023-03-01",
            "project_eu_contribution": 19999327.25,
            "currency": "EUR",
            "eic_scheme": null
        },
        {
            "id": "cordis:101113983",
            "acronym": "Qu-Pilot",
            "title": "Experimental production capabilities for quantum technologies in Europe",
            "url": "https://cordis.europa.eu/project/id/101113983",
            "start": "2023-04-01",
            "project_eu_contribution": 18999992,
            "currency": "EUR",
            "eic_scheme": null
        },
        {
            "id": "cordis:101007322",
            "acronym": "MATQu",
            "title": "Materials for Quantum Computing",
            "url": "https://cordis.europa.eu/project/id/101007322",
            "start": "2021-06-01",
            "project_eu_contribution": 6548524.39,
            "currency": "EUR",
            "eic_scheme": null
        },
        {
            "id": "cordis:101297083",
            "acronym": "EuroQSS",
            "title": "Universal European Quantum Software Stack",
            "url": "https://cordis.europa.eu/project/id/101297083",
            "start": "2026-10-01",
            "project_eu_contribution": 4999077.5,
            "currency": "EUR",
            "eic_scheme": null
        },
        {
            "id": "cordis:101312335",
            "acronym": "QuBriC",
            "title": "Bridging Quantum and Classical Error Correction for Scalable Fault-tolerant Quantum Computing",
            "url": "https://cordis.europa.eu/project/id/101312335",
            "start": "2026-10-01",
            "project_eu_contribution": 4656952.08,
            "currency": "EUR",
            "eic_scheme": null
        },
        {
            "id": "cordis:101241875",
            "acronym": "Q-NEKO",
            "title": "Nippon-Europe Quantum Koraboreshon",
            "url": "https://cordis.europa.eu/project/id/101241875",
            "start": "2026-01-01",
            "project_eu_contribution": 3866188.25,
            "currency": "EUR",
            "eic_scheme": null
        },
        {
            "id": "cordis:101298343",
            "acronym": "QuoUSKWe",
            "title": "Quantum computing European Union-South Korea Working Team",
            "url": "https://cordis.europa.eu/project/id/101298343",
            "start": "2026-05-01",
            "project_eu_contribution": 2667076.25,
            "currency": "EUR",
            "eic_scheme": null
        },
        {
            "id": "cordis:101119552",
            "acronym": "CaLiForNIA",
            "title": "Cartan and differential geometry, Lie theory, quantum groups and non commutative geometry For novel and Innovative Applications to quantum algorithms and geometric deep learning",
            "url": "https://cordis.europa.eu/project/id/101119552",
            "start": "2024-01-01",
            "project_eu_contribution": 2504779.2,
            "currency": "EUR",
            "eic_scheme": null
        }
    ],
    "cordis_retrieved": "2026-10-16",
    "rounds": [
        {
            "id": "iqm-2026-07-listing",
            "company": "IQM Quantum Computers",
            "company_id": "iqm",
            "date": "2026-07-01",
            "type": "Stock market listing",
            "status": "Completed",
            "amount": 127700000,
            "currency": "EUR",
            "amount_as_announced": "aggregate purchase price of EUR 127.7 million (USD 145.5 million) of the PIPE concurrent with the business combination",
            "qualifier": "exact",
            "lead_investors": [],
            "investors": [],
            "sources": [
                {
                    "url": "https://iqm.tech/press-releases/iqm-quantum-computers-and-real-asset-acquisition-corp-complete-the-combination-trading-in-iqms-adss-and-iqm-warrants-on-nasdaq-stock-market-llc-commences-on-july-2-2026/",
                    "publisher": "IQM Quantum Computers",
                    "kind": "company",
                    "retrieved": "2026-10-23",
                    "locator": "Paragraphs beginning \"Concurrently with the Business Combination\" and \"In total\""
                }
            ],
            "included_in_later_figure_of": [
                "iqm-2026-06-pipe"
            ],
            "public_investment_registry": [],
            "note": "Business combination with Real Asset Acquisition Corp. completed; ADSs trade on Nasdaq as IQMX from 2 July 2026. The release states net proceeds of approximately EUR 198.7 million (USD 233.5 million). The PIPE investors are not named."
        },
        {
            "id": "iqm-2026-06-pipe",
            "company": "IQM Quantum Computers",
            "company_id": "iqm",
            "date": "2026-06-02",
            "type": "Private investment in public equity (PIPE)",
            "status": "Committed, not yet drawn",
            "amount": 146000000,
            "currency": "USD",
            "amount_as_announced": "total PIPE commitments ... to over USD 146 million",
            "qualifier": "at_least",
            "lead_investors": [],
            "investors": [
                "Ilmarinen"
            ],
            "sources": [
                {
                    "url": "https://iqm.tech/press-releases/iqm-a-global-leader-in-quantum-computing-and-real-asset-acquisition-corp-announce-upsized-usd-146-million-pipe-with-new-commitment-from-ilmarinen/",
                    "publisher": "IQM Quantum Computers",
                    "kind": "company",
                    "retrieved": "2026-10-23",
                    "locator": "Second summary bullet under the headline"
                }
            ],
            "included_in_later_figure_of": [],
            "public_investment_registry": [],
            "note": "Private investment in public equity committed for the business combination with Real Asset Acquisition Corp.; only the new investor is named."
        },
        {
            "id": "iqm-2025-11-eic-step-finalised",
            "company": "IQM Quantum Computers",
            "company_id": "iqm",
            "date": "2025-11-24",
            "type": "Public equity investment (EIC STEP Scale Up)",
            "status": "Investment finalised",
            "amount": null,
            "currency": null,
            "amount_as_announced": "undisclosed",
            "qualifier": null,
            "lead_investors": [],
            "investors": [
                "European Innovation Council (EIC) and EIC Fund"
            ],
            "sources": [
                {
                    "url": "https://eic.ec.europa.eu/news/first-eic-step-scale-investments-disbursed-2025-11-24_en",
                    "publisher": "European Innovation Council",
                    "kind": "official",
                    "retrieved": "2026-10-23",
                    "locator": "Opening paragraph: the first two finalised investments, no amounts"
                }
            ],
            "included_in_later_figure_of": [],
            "public_investment_registry": [
                "eic-fund-iqm-step-scale-up-2025"
            ],
            "note": "One of the first two STEP Scale Up equity investments the EIC Fund finalised; no amount stated."
        },
        {
            "id": "iqm-2025-09-series-b",
            "company": "IQM Quantum Computers",
            "company_id": "iqm",
            "date": "2025-09-03",
            "type": "Series B",
            "status": "Closed",
            "amount": 320000000,
            "currency": "USD",
            "amount_as_announced": "$320 Million (€275 Million) in venture capital",
            "qualifier": "exact",
            "lead_investors": [
                "Ten Eleven Ventures"
            ],
            "investors": [
                "Ten Eleven Ventures",
                "Tesi",
                "Elo Mutual Pension Insurance",
                "Varma Mutual Pension Insurance",
                "Companies of Schwarz Group",
                "Winbond Electronics Corporation",
                "European Innovation Council (EIC) and EIC Fund",
                "Bayern Kapital"
            ],
            "sources": [
                {
                    "url": "https://www.iqm.tech/?p=13736",
                    "publisher": "IQM Quantum Computers",
                    "kind": "company",
                    "retrieved": "2026-10-23",
                    "locator": "Dateline paragraph, Espoo, 3 September 2025; investor paragraph"
                }
            ],
            "included_in_later_figure_of": [],
            "public_investment_registry": [],
            "note": "The headline says over $300 million. IQM names the EIC among the investors; the EIC Fund finalised a STEP Scale Up investment in IQM in November 2025 (separate entry, no amount)."
        },
        {
            "id": "iqm-2025-04-eic-step-selected",
            "company": "IQM Quantum Computers",
            "company_id": "iqm",
            "date": "2025-04-03",
            "type": "Public equity investment (EIC STEP Scale Up)",
            "status": "Selected, subject to due diligence",
            "amount": null,
            "currency": null,
            "amount_as_announced": "undisclosed",
            "qualifier": null,
            "lead_investors": [],
            "investors": [
                "European Innovation Council (EIC) and EIC Fund"
            ],
            "sources": [
                {
                    "url": "https://eic.ec.europa.eu/news/first-companies-put-forward-major-investments-under-eic-step-scale-scheme-2025-04-03_en",
                    "publisher": "European Innovation Council",
                    "kind": "official",
                    "retrieved": "2026-10-23",
                    "locator": "List of the seven companies put forward; scheme range of EUR 10 to 30 million per company"
                }
            ],
            "included_in_later_figure_of": [],
            "public_investment_registry": [
                "eic-fund-iqm-step-scale-up-2025"
            ],
            "note": "Put forward for an EIC Fund investment decision under EIC STEP Scale Up, subject to due diligence."
        }
    ],
    "lab_to_market": {
        "id": "iqm",
        "name": "IQM Quantum Computers",
        "country": "FI",
        "method": "reviewed_link",
        "pics": [
            "898881541",
            "894285972"
        ],
        "nid": 162,
        "families": [
            "computing",
            "sensing",
            "enabling"
        ],
        "grants": 10,
        "first_grant": {
            "id": "cordis:959521",
            "acronym": "Prometheus",
            "title": "Building the first 1,000-qubit quantum computer to restore Europe’s lead in the second quantum revolution",
            "start": "2020-08-01",
            "programme": "Horizon 2020",
            "scheme": "SME-2",
            "kind": "sme_instrument",
            "amount": 2497250,
            "currency": "EUR",
            "measure": "EU contribution (maximum grant agreed)",
            "url": "https://cordis.europa.eu/project/id/959521",
            "nid": 1046
        },
        "first_eic_early": null,
        "first_eic_accelerator": null,
        "first_eic_fund": {
            "id": "iqm-2025-09-series-b",
            "date": "2025-09-03",
            "type": "series_b",
            "status": "closed",
            "amount": 320000000,
            "currency": "USD",
            "amount_text": "$320 Million (€275 Million) in venture capital",
            "qualifier": "exact",
            "eic": true,
            "sources": [
                {
                    "url": "https://www.iqm.tech/?p=13736",
                    "publisher": "IQM Quantum Computers",
                    "kind": "company",
                    "retrieved": "2026-10-23",
                    "locator": "Dateline paragraph, Espoo, 3 September 2025; investor paragraph"
                }
            ],
            "registry": []
        },
        "first_equity": {
            "id": "iqm-2025-09-series-b",
            "date": "2025-09-03",
            "type": "series_b",
            "status": "closed",
            "amount": 320000000,
            "currency": "USD",
            "amount_text": "$320 Million (€275 Million) in venture capital",
            "qualifier": "exact",
            "eic": true,
            "sources": [
                {
                    "url": "https://www.iqm.tech/?p=13736",
                    "publisher": "IQM Quantum Computers",
                    "kind": "company",
                    "retrieved": "2026-10-23",
                    "locator": "Dateline paragraph, Espoo, 3 September 2025; investor paragraph"
                }
            ],
            "registry": []
        },
        "first_private": {
            "id": "iqm-2025-09-series-b",
            "date": "2025-09-03",
            "type": "series_b",
            "status": "closed",
            "amount": 320000000,
            "currency": "USD",
            "amount_text": "$320 Million (€275 Million) in venture capital",
            "qualifier": "exact",
            "eic": true,
            "sources": [
                {
                    "url": "https://www.iqm.tech/?p=13736",
                    "publisher": "IQM Quantum Computers",
                    "kind": "company",
                    "retrieved": "2026-10-23",
                    "locator": "Dateline paragraph, Espoo, 3 September 2025; investor paragraph"
                }
            ],
            "registry": []
        },
        "registry": [
            {
                "id": "eic-fund-iqm-step-scale-up-2025",
                "name": "EIC Fund equity investment in IQM Quantum Computers under EIC STEP Scale Up",
                "stage": "finalised",
                "date": "2025-11-24",
                "instrument": "Equity investment by the EIC Fund under the EIC STEP Scale Up scheme",
                "url": "https://eic.ec.europa.eu/news/first-eic-step-scale-investments-disbursed-2025-11-24_en",
                "source_title": "EIC: first EIC STEP Scale Up investments disbursed (24 November 2025)",
                "source_url": "https://eic.ec.europa.eu/news/first-eic-step-scale-investments-disbursed-2025-11-24_en"
            }
        ],
        "rounds": 5,
        "stages": {
            "grant": true,
            "eic_early": false,
            "eic_accelerator": true,
            "private_round": true
        },
        "months": 61,
        "order": "grant_first",
        "median_eligible": false
    },
    "gaps": [
        "Publications have not been matched in OpenAlex for this company yet.",
        "Valuations, revenues, ownership stakes, cap tables and individual investors are not collected.",
        "National grants, regional aid, loans and payments are not covered; EU figures are amounts awarded, not paid.",
        "Use of infrastructure as a customer is not recorded; only a named supplier role in the deployment tracker is shown.",
        "Nothing here is a rating, a recommendation or investment advice; figures are as published by their sources."
    ]
}