European quantum computing reaches inflection point
Europe’s quantum computing sector is entering a defining chapter, with institutional investors signalling growing confidence in the continent’s ability to compete on a global stage. As governments from Helsinki to Paris channel billions into quantum research programmes and the first generation of European quantum startups mature toward commercialisation, the sector is beginning to attract the kind of heavyweight capital that was once reserved for its American counterparts.
Finnish quantum computing company IQM Quantum Computers has secured €50 million in growth financing from funds managed by BlackRock, marking a significant vote of confidence from the world’s largest asset manager ahead of IQM’s planned listing on Nasdaq.
BlackRock backs Europe’s quantum hardware leader
The €50 million financing package, announced on 30 March 2026, comes at a pivotal moment for IQM. The Espoo-headquartered company is preparing for a merger with Real Asset Acquisition Corp (RAAQ), a Nasdaq-listed special purpose acquisition company, in a deal that values IQM at approximately $1.8 billion. The transaction, expected to close around June 2026, would make IQM the first publicly listed European quantum computing company and is projected to provide over $450 million in combined financing.
BlackRock’s involvement underscores the institutional appetite for quantum technology. Jan Goetz, CEO and co-founder of IQM, noted that the financing comes at a pivotal time as the company builds momentum for its next phase of growth. The capital will accelerate IQM’s technology roadmap, fuel research and development, and support continued market expansion across its global footprint spanning 12 countries including France, Germany, Japan, and the United States.
Commercial traction sets IQM apart
What distinguishes IQM in the quantum landscape is its commercial progress. The company reported $35 million in unaudited revenue for 2025 and over $100 million in orders and bookings by year-end — figures that place it among the most commercially advanced quantum computing firms globally. IQM has sold 21 quantum systems to 13 customers, with 15 already delivered, which the company describes as the largest publicly disclosed figure among quantum computer manufacturers.
IQM’s product portfolio spans from its entry-level IQM Spark system to its flagship IQM Resonance platform, serving high-performance computing centres, research laboratories, universities, and enterprises. The company employs over 300 people and has built one of the deepest engineering teams in European quantum hardware.
A maturing European quantum ecosystem
The investment arrives against a backdrop of accelerating quantum investment across Europe. The European Commission’s Quantum Technologies Flagship programme, national initiatives such as France’s €1.8 billion quantum strategy, and Germany’s dedicated quantum computing centres have created fertile ground for companies like IQM to scale. With total funding now exceeding $600 million — including a $320 million Series B led by Ten Eleven Ventures in September 2025 — IQM has positioned itself as the continent’s most well-capitalised quantum hardware company.
The planned Nasdaq listing represents more than a liquidity event; it signals that European deep tech companies can chart a path to public markets on their own terms. For the broader quantum computing sector, IQM’s trajectory offers a compelling case study in building globally competitive technology companies from European soil.
Summary
Company: IQM Quantum Computers
HQ: Espoo, Finland
Founded: 2018
Round: Growth Financing
Amount: €50 million ($57 million)
Investor: BlackRock
Total Funding: Over $600 million
Use of Funds: R&D acceleration, market expansion, Nasdaq listing preparation