IQM lands over $57M from BlackRock ahead of $1.8B dual listing push

IQM Quantum Computers has secured €50 million ($57.64 million) in venture financing from funds and accounts managed by BlackRock, positioning the Finnish firm to accelerate its global expansion ahead of a planned dual listing in the US and Helsinki.

Earlier this year, IQM outlined plans to go public via a merger with a special purpose acquisition company, implying an initial equity valuation of roughly $1.8 billion.

Funding details and listing timeline

The fresh capital, set to be formally announced on Monday, will be used to scale operations, accelerate chip and technology development, and strengthen the company’s market position.

“It’s essentially about ramping up commercial traction to reach profitability,” CEO Jan Goetz said.

The financing comes as IQM moves forward with its dual-listing strategy, which includes a US market debut through its SPAC merger alongside a Helsinki listing.

The company first revealed these plans earlier this year, pointing to an estimated valuation of around $1.8 billion.

BlackRock has described quantum computing as “the next era of computing,” reflecting growing investor interest as the technology transitions from research to real-world applications.

Business traction and market focus

IQM, which sells quantum computers and provides cloud-based access to computing capacity, said it nearly doubled sales to about $35 million last year and closed the year with bookings exceeding $100 million.

Goetz noted that there is still significant untapped potential in hardware sales, particularly in private data centers.

“What we haven’t fully tapped yet is the entire private data center opportunity,” he said.

He also emphasized the strategic importance of the sector, adding that quantum computing is becoming central to national technology agendas worldwide.

How investors frame quantum and AI

Quantum computing and artificial intelligence are increasingly viewed as complementary technologies with distinct problem-solving approaches.

“AI reasons from data. Quantum reasons from physics. Together, they could reshape what is computationally possible,” said Tony Kim, who leads the global technology team within the Fundamental Equities division of BlackRock’s Portfolio Management Group.

This framing helps explain why large asset managers are backing quantum hardware and ecosystem players, aiming to convert scientific breakthroughs into commercial outcomes.

IQM’s latest funding round, combined with its planned listings in the US and Helsinki, positions the company to scale production and move toward profitability as demand builds across research institutions, public-sector initiatives, and private data centers.