Industry Newsquantum computingsuperconducting qubitsspacshpc
IQM Lists Via Merger With RAAQ
8.2
IQM Finland and Real Asset Acquisition Corp. announced on February 23, 2026 a business combination valuing IQM at about $1.8 billion pre-money and leaving the combined company with over $450 million in cash. IQM reported at least $35 million revenue in FY2025, has sold 21 systems to 13 customers, and will use proceeds to accelerate fault-tolerant hardware and on-prem deliveries.
Key Points
- 1Announces $1.8B pre-money valuation and expected >$450M cash post-merger with RAAQ
- 2Highlights commercial traction: 21 systems sold to 13 customers and >$100M bookings
- 3Enables accelerated development of fault-tolerant architectures and broader on-prem quantum delivery
Scoring Rationale
Strong financial and commercial milestone with official backing, limited to the quantum computing vertical rather than broader AI/ML impact.
Sources
Public references used for this report.
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