Finland-based IQM Quantum Computers on Wednesday announced that it has raised $320 million in a funding led by U.S. venture capital firm Ten Eleven Ventures. While U.S. investors can mull taking positions in four quantum computing stocks, no quantum companies yet trade publicly in Europe.
IQM is a Finnish quantum computing company spun out of Aalto University and Finland's VTT Technical Research Centre. With the new funding round, IQM has raised $600 million. It's among Europe's leading quantum companies, which also include Pasqal, Quantinuum, Alice & Bob and QuiX Quantum.
Alex Doll, managing general partner at Ten Eleven Ventures, will join IQM's board. "The addition of Ten Eleven as our first U.S.-based investor is a catalytic event for IQM and finding the right venture partner in the U.S. — one that could help us scale our technology and deliver value to our partners and customers — was essential," said Jan Goetz, IQM's cofounder and co-CEO, in a news release.
While IBM leads in global quantum computer deal value since 2020, IQM ranks first in system shipments at 15% of deals, according to Quantum Insider. IQM's customers include Oak Ridge National Laboratory and the Leibniz Supercomputing Centre in Germany.
IQM is part of the Euro-Q-Exa program, which aims to integrate quantum and high-performance computing. In July, the European Commission adopted a Quantum Strategy to position Europe as a global leader in quantum computing by 2030.
Quantum Computing Stocks Volatile
Quantum computing uses exotic technologies, like supercold superconductor chips. Further, quantum computing aims to solve problems too complex for today's classical computers, such as simulating chemical reactions. Other applications are expected in material design.
Like IBM, Google-parent Alphabet, and Rigetti Computing, IQM builds quantum systems using superconducting technologies.
Many quantum computing systems are accessible to researchers on cloud computing platforms from Amazon.com and others.
But IQM specializes in building on-premises, full-stack quantum computers based on superconducting qubits. IQM aims to achieve fault-tolerant quantum computing by 2030.
In 2025, D-Wave Quantum leads quantum computing stocks with a gain of nearly 89% year to date. Shares in IonQ have risen 2.9%. Rigetti stock has risen 1.7% and Quantum Computing has pulled back 9%.
Quantum computing stocks have been volatile in 2025 amid a fierce debate over how fast the technology will be commercialized. Nvidia has offered differing views.
Follow Reinhardt Krause on X, formerly Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
