Ilmarinen Joins as New Investor
IQM, a leader in superconducting quantum computers, has announced an increased private investment in public equity (PIPE) of USD 146 million. Ilmarinen, one of Finland’s largest pension insurance companies, has made new commitments. This partnership with Real Asset Acquisition Corp., a special purpose acquisition company, boosts the total PIPE commitments and reflects heightened investor demand. Commitments previously stood at USD 134 million.
Jan Goetz, co-founder and CEO of IQM, said, “We’re pleased to see such strong investor demand, particularly with the addition of Ilmarinen. This upsized commitment underscores confidence in our technology roadmap.”
IQM’s Expansion Plans
Approximately USD 1.8 billion is the pre-money equity valuation for IQM in this transaction. The company anticipates a cash position of up to EUR 406 million (USD 477 million). Business momentum is significant, with 2025 revenue projected to reach EUR 31 million (USD 36 million).
Peter Ort, CEO of Real Asset Acquisition Corp., stated, “We reopened the PIPE because the demand is there from institutional investors who recognise what IQM has built: operational quantum computers, active customer deployments, and a commercial foundation.”
Plans are in place for IQM to list its American Depositary Shares on the Nasdaq and its ordinary shares on the Helsinki stock exchange upon completing the transaction. As a result, additional funds will accelerate IQM’s progress towards achieving fault-tolerant quantum computing.
Additional funding from the incremental PIPE builds on the previously announced USD 134 million in PIPE financing proceeds. These funds will be used to accelerate IQM’s technology and commercial development, further advancing its position as a leading provider of quantum computers. IQM, headquartered in Finland, operates a vertically integrated business model. It boasts a proprietary infrastructure, including chip design tools and a quantum chip fab, allowing the company to deliver best-in-class quantum computing solutions.
Innovation cycles at IQM benefit from its open-architecture quantum computers, which can be deployed on-premise or accessed via the cloud. The company’s approach enables the quantum ecosystem to grow, providing customers with cutting-edge technology. Public investment exposure to IQM is available through its special purpose acquisition company partner, Real Asset Acquisition Corp. (Nasdaq: RAAQ).
