Europe’s first publicly listed quantum computing company was born from research at VTT and Aalto University

The founders of IQM met through quantum computing research at VTT and Aalto. They saw a challenge holding the field back: quantum computers worked in the lab, but not yet in a way that could scale into practical machines.

That challenge became IQM. Founded in 2018, the startup set out to build quantum computers organisations could own and use.

A small startup from Otaniemi has now grown into a global quantum computing company. IQM delivered Finland’s first quantum computer to VTT in 2021, has since deployed more than 20 systems across 10 countries, and this summer became a publicly listed company in both Finland and the US.

Together with VTT, IQM is now building a 300-qubit quantum computer in Finland.

Constructed by Polar Night Energy, the ‘Sand Battery’ uses surplus summer wind and solar electricity to heat ordinary sand to 500°C—storing thermal energy for winter district heating at a fraction of lithium’s cost.