IQM Quantum Computers is a European superconducting quantum computing company. It operates systems ranging from 5 to 150 qubits and has deployed on-premises machines in Germany, Finland, and Poland. Total funding exceeds EUR 650M. The company now has 21 quantum systems sold to 13 customers, including 4 of the top 10 supercomputing centers in the world.

In February 2026, IQM announced a $1.8B SPAC merger with Real Asset Acquisition Corp, expected to close in June 2026, which would make it the first publicly listed European quantum computing company on Nasdaq, with a dual listing planned in Helsinki. In March 2026, IQM raised an additional EUR 50M from BlackRock to support on-premises quantum expansion. In September 2025 it raised a $320M Series B led by Ten Eleven Ventures, bringing total capital to $600M, alongside a EUR 50M BlackRock debt facility.

IQM launched the Halocene product line, on-premises systems focused on quantum error correction with up to 5 logical qubits and 99.7% two-qubit fidelity, and also launched the IQM Resonance cloud service. The company committed to delivering a 300-qubit system to VTT Finland in 2027 for circuit knitting research and invested more than EUR 40M in expanding production in Finland. It delivered an IQM Radiance 54-qubit system to CINECA Bologna in Q4 2025, integrated with the Leonardo supercomputer, and deployed its fourth quantum system in Finland in March 2026.

In April 2026, IQM sold its 54-qubit Radiance system to Galaxy Systemy Informatyczne in Poland, the first quantum computer sale to a private enterprise. In February 2026, its Euro-Q-Exa system went operational at the Leibniz Supercomputing Centre in Munich, a 54-qubit superconducting Radiance platform and Europe's first EuroHPC-funded quantum computer, with a 150-qubit upgrade planned for the end of 2026.

In March 2026, IQM collaborated with NVIDIA and Zurich Instruments on scalable fault-tolerant quantum computing, and with Kvantify demonstrated a quantum chemist

Algorithmiq develops quantum algorithms and software for drug discovery and pharmaceutical research, with a focus on quantum-enhanced molecular simulation and optimization techniques. The company raised a $15 million Series A in 2023 plus a $4 million seed round, backed by Tiger Global and the European Investment Bank.

In February 2025, Algorithmiq partnered with Quantum Circuits to use the Aqumen Seeker full-stack quantum computing system, which features dual-rail qubits with built-in error detection for more accurate chemistry calculations. On November 12, 2025, Algorithmiq unveiled the Quantum Advantage Tracker in collaboration with IBM Quantum and theorists at IBM's Quantum Developer Conference in Atlanta, presenting the first verified quantum simulation to outperform classical methods. CEO Sabrina Maniscalco described it as a living record that tracks quantum and classical progress, where results are published, verified, and challenged: "We are no longer chasing a single moment of quantum advantage. We are building an experiment that never really ends." Partners on the tracker include IBM, Algorithmiq, the Flatiron Institute, and BlueQubit.

In December 2025, Algorithmiq partnered with Microsoft to collaborate on quantum chemistry algorithms for fault-tolerant hardware, integrating with Microsoft's Quantum Development Kit for cloud-based molecular simulations aimed at drug discovery and materials design. In February 2026, it partnered with Rigetti on quantum machine learning for financial fraud detection in the payments sector.

In May 2026, Algorithmiq raised an EUR 18M Series B co-led by United Ventures and CDP Venture Capital, bringing total funding to roughly EUR 36M, the largest quantum software round in Italy, and relocated its global headquarters from Helsinki to Milan. In April 2026, the company won a $2M Wellcome Leap prize for an end-to-end quantum-classical simulation of a cancer drug activation pathway run on IBM hardware.

Algorithmiq

Bluefors is a Finnish cryogenic technology company founded in 2008 by Rob Blaauwgeers and Pieter Vorselman. It is the global market leader in ultra-low temperature cooling systems for quantum computing, with more than 1,500 systems installed worldwide and over 700 employees globally. Its flagship LD System and KIDE Cryogenic Platform support more than 1,000 qubits. Bluefors pioneered liquid-free dilution refrigerator technology that reaches 10 millikelvin temperatures through a five-stage cascade approach, and its systems serve as the industry standard for superconducting quantum computers.

In March 2026, Bluefors launched its Modular Cryogenic Platform, a self-supported, expandable vacuum chamber architecture designed to support hundreds of thousands of physical qubits. The modules come in two sizes, support payloads up to 800 kg, and offer up to 36 side-loading wiring ports. The first multi-module platform delivery is scheduled for late 2026, and the platform was shown at the APS Global Physics Summit in Denver from March 15 to 20, 2026.

In November 2025, Bluefors unveiled next-generation dilution refrigerators with improved cooling capacity and reduced helium consumption, and expanded manufacturing capacity to meet demand from quantum companies scaling to higher qubit counts. During 2025 the company continued its partnership with Linde for large-scale quantum computing cooling solutions, launched cooling systems with doubled 4K cooling power and high-density flex wiring, and expanded its global service network.

In May 2025, Bluefors delivered 18 KIDE Cryogenic Platform systems to Japan's G-QuAT center at AIST Tsukuba, each supporting more than 1,000 qubits. In March 2026 it announced a partnership with QphoX to replace conventional coaxial cables with optical fiber control, validated on the LD400 system, enabling scaled-up signal delivery from room temperature to the cryostat. Bluefors has also expanded its US footprint by acquiring Cryomech, the Syracuse-base

Bluefors

Quanscient is a Finnish technology company based in Tampere, founded in 2021 by Juha Riippi, Alexandre Halbach, Asser Lähdemäki, and Valtteri Lahtinen. It is building the world's first Computer Aided Engineering (CAE) platform that combines cloud-native multiphysics solvers, cloud computing, and quantum integration. The platform aims to give industrial product development greater computational power through quantum algorithms.

Quanscient was the first company in the world to run a Computational Fluid Dynamics (CFD) simulation on real quantum hardware. In November 2024 it raised €5.2 million in a round led by Crowberry Capital and Speen Holding, with follow-on investments from Maki.vc and First Fellow, bringing total funding to €9.9 million. The investment supports continued work on quantum algorithms, including CFD simulations on quantum hardware, with the first quantum product pilot expected in 2025. The company serves engineering simulation needs across aerospace, automotive, energy, and manufacturing.

In May 2026, Quanscient closed a €10 million Series A to scale its quantum-AI hardware integration work for engineering simulation. Update 2026-04-02: Quanscient and Haiqu's new algorithm advances engineering simulations using IBM's Heron R3, reducing qubit requirements for complex fluid dynamics. Source: https://quantumzeitgeist.com/quantum-computers-quanscient-haiqu/

Quanscient

Mectalent is an expert in product development, precision mechanics, and demanding equipment manufacturing for quantum technology applications. Based in Oulu with 6,000 square meters of office and production space, the company has built deep expertise in vacuum technology and understands the mechanical design, parts manufacturing, and equipment requirements of quantum systems.

Mectalent works with industry leaders such as IQM Quantum Computers and Bluefors, supplying precision manufacturing and vacuum technology components for quantum computing systems. As a member of the Photonics Finland technology cluster, it serves Europe's quantum computing ecosystem with precision-engineered vacuum and mechanical components.

Mectalent

QMill is a Finnish quantum computing company based in Espoo, founded in 2024. It develops quantum algorithms aimed at near-term practical benefits for industrial applications running on noisy intermediate-scale quantum (NISQ) computers.

The company targets finance, telecommunications, real estate, energy, and supply chain logistics with algorithms designed to solve optimization problems beyond the reach of classical computers. Its team is led by experienced specialists, including three Professors and six PhDs across mathematics, physics, and computer science. The 14-person team plans to grow to 30 employees, and QMill aims to be the first company to deliver quantum advantage for industrial customers.

QMill raised 4 million euros in seed funding led by Maki.vc and Antler, along with a 1 million euro grant from Business Finland and angel investment from Peter Sarlin, co-founder of AMD Silo AI. Update 2026-05-26: Telia and QMill developed quantum-enhanced data encryption for mobile networks. Source: https://quantumzeitgeist.com/quantum-security-beyond-telia-qmill/

QMill

Quantastica is a Finnish quantum computing company founded in 2018 that provides quantum computing as a service through cloud-based platforms, offering quantum development tools, quantum simulators, and access to quantum hardware for researchers and enterprises, focusing on making quantum computing accessible through user-friendly interfaces and quantum algorithm development environments that enable organizations to experiment with quantum computing applications without requiring deep quantum expertise or hardware investments.

Quantastica

Qutwo is a European quantum-classical AI platform company built by 30+ scientists formerly of IQM and Silo AI, with researchers from UC Berkeley and UCL. Incubated by PostScriptum, Qutwo launched publicly in February 2026 with an enterprise quantum-AI operating system that integrates quantum computing into machine learning workflows. Targets financial services, energy, logistics, and e-commerce sectors. Founded with initial enterprise clients in stealth mode.

Qutwo

SemiQon is a VTT spinout developing silicon semiconductor quantum processors based on quantum dot technology. Its processors are scalable, easier to manufacture, and able to function at warmer temperatures.

In November 2024, SemiQon announced the world's first cryogenic CMOS transistor fully optimised for ultra-low temperatures of 1K, achieving a 100-fold power reduction compared with room-temperature transistors and 1000 times lower heat dissipation. In June 2025 it demonstrated large-scale characterisation of quantum dot qubits using cryo-CMOS transistors. In October 2025, SemiQon won first prize in the EARTO Innovation Award for its silicon quantum processor technology, completed its first production run, and began shipping 4-qubit quantum dot array chips to research partners worldwide.

The company raised €17.5 million in total funding in 2025, consisting of a €2.5M grant and €15M in equity from the European Innovation Council. It partnered with Conductor Quantum to accelerate silicon-based quantum computing and works with VTT Finland, SDT in South Korea, and CMC Microsystems. SemiQon also participates in the EU SPINS project, which targets millions of stable semiconductor qubits. Update 2026-04-16: SemiQon announced a breakthrough in cryogenic electronics with the release of a cryogenic CMOS transistor. Source: https://quantumzeitgeist.com/semiqon-cryogenic-cmos-transistor-quantum-computing/

SemiQon

Super.tech (acquired by Infleqtion) developed quantum-classical hybrid software solutions that integrate quantum computing capabilities with classical high-performance computing systems, creating unified platforms for solving optimization and simulation problems that benefit from both quantum and classical computational approaches.

Super.tech

Unitary Zero Space is a Helsinki-based, technology-independent quantum computing and quantum technology services company founded in 2020 by Topias Uotila. It educates and advises clients on creating and securing business in the second quantum revolution.

The company offers consulting on commercializing quantum technologies, educational services to build quantum computing capabilities, and expertise in cybersecurity related to quantum threats. It analyzed Finland's quantum technology ecosystem and produced presentations of the country's strengths and key arguments for the Invest in Finland team. Before incorporation, it helped hundreds of participants enter quantum computing through events, including workshops at two successive Disobey security conferences in 2019 and 2020. Unitary Zero Space serves businesses, government organizations, and research institutions seeking strategic guidance on quantum technology adoption and quantum-safe security.

Unitary Zero Space

VTT Technical Research Centre of Finland is Finland's state-owned research institute and a leading quantum computing hardware developer in the Nordic region. VTT operates superconducting quantum computers on its campus, including a 5-qubit system and its Q50, a 50-qubit superconducting quantum computer connected to the LUMI supercomputer at CSC, which enables hybrid quantum-classical computing at European scale. VTT's roadmap targets 150-qubit and 300-qubit systems in later phases.

VTT coordinates the EU Quantum Flagship project Qu-Pilot and participates in OpenSuperQ. It is a founding member of InstituteQ, Finland's quantum institute, which brings together Aalto University, the University of Helsinki, and VTT, and it coordinates BusinessQ, a quantum business network connecting Finnish industry to quantum capabilities. VTT also manufactures photon-number-resolving detectors for Xanadu's photonic quantum computer programme.

VTT's quantum work extends to quantum sensors, superconducting microwave amplifiers commercialised through the spin-off Arctic Instruments, and cryogenic electronics. The institute provides quantum computing access to external researchers and companies through collaborative R&D services, proof-of-concept demonstrations, and technology validation programmes. In early 2025, VTT launched the 50-qubit VTT QX quantum computer, Finland's national quantum computing facility. IQM has been contracted to deliver a 150-qubit system in 2026 and a 300-qubit system in 2027, the largest QEC-focused quantum procurement globally.

VTT Technical Research Centre

Vexlum is a spin-off from the Optoelectronics Research Centre (ORC) at Tampere University of Technology, specializing in semiconductor lasers for quantum technology. The company develops VECSELs, or Vertical External Cavity Surface Emitting Lasers, which provide high-power, low-noise, single-frequency output with broad wavelength coverage in the visible and near infrared.

These lasers give quantum computing systems the precise light sources needed to manipulate quantum states. With around 25 employees, Vexlum serves the quantum computing, medical, and semiconductor industries.

Vexlum

Xiphera is a hardware cryptographic security company based in Espoo, Finland, founded in 2017 by Matti Tommiska and Kimmo Järvinen, who first worked together on cryptographic projects in the early 2000s. The company builds hardware-based cryptographic solutions for the automotive, industrial IoT, data center, communications, and space sectors. Its portfolio includes more than 30 off-the-shelf IP cores with extensive post-quantum cryptography (PQC) offerings to address quantum threats. Xiphera's cryptographic IP cores are designed directly for FPGAs and ASICs, with no hidden CPU or software components.

In 2025 Xiphera partnered with Crypto Quantique on quantum-resilient hardware trust engines and with Siemens Cre8Ventures to strengthen automotive security in support of EU Chips Act sovereignty goals, and it developed quantum-resilient hardware security solutions for space applications. The company launched the nQrux Family of hardware trust engines for hardware-isolated cryptographic services and computing environments, contributing to Finland's quantum-safe security infrastructure.

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