IQM: The superconducting leader

The superconducting leader

IQM has moved from laboratory validation to assembly-line industrialisation faster than any European quantum company. Its Espoo facility produces up to 20 full-stack quantum computers a year and houses Europe's only private quantum chip factory.¹³

On 2 July 2026, IQM became the first European quantum computing company to list on a major US exchange, trading on Nasdaq under IQMX following its merger with Real Asset Acquisition Corp at a valuation of approximately $2 billion. IQM published in August 2026 its first results as a public company: 26 systems sold, an order backlog above €102 million, and H1 2026 revenue of €8.9 million at 46% gross margin.

Our mandate

Zaz Ventures supported IQM across four instruments totalling €62.5 million. We structured the application for the EIC Accelerator (Pilot) Grant received in 2020 (€2.5 million), which financed qubit-coupler design and high-fidelity 3D packaging, followed by the EIC Accelerator (Pilot) Equity received in 2022 (€15 million), which matched private co-investors in the Series A. We then secured a second award combining EIC Accelerator Equity (€15 million) and EIC STEP Scale-Up Equity (€30 million), both received in 2025, financing cleanroom fabrication capacity in Espoo, manufacturing methods for larger error-corrected processors, and global data-centre assembly infrastructure ahead of the Nasdaq listing.