IQM Finland Oy and Real Asset Acquisition Corp. have increased the PIPE financing tied to their previously announced business combination, with total commitments now exceeding $146 million, up from the earlier $134 million. The upsized round includes a new commitment from Ilmarinen, one of Finland’s largest private earnings-related pension insurers.
The Espoo-based quantum computing company is being valued at roughly $1.8 billion on a pre-money basis. IQM said the additional capital will be used to accelerate its technology and commercial development as it works toward fault-tolerant quantum computing.
Founded in 2018, IQM builds full-stack, open-architecture superconducting quantum computers that can be deployed on-premise or accessed via the cloud. Its customers include research institutions, universities, high-performance computing centers, national laboratories and enterprises.
The Espoo-based quantum computing company is being valued at roughly $1.8 billion on a pre-money basis. IQM said the additional capital will be used to accelerate its technology and commercial development as it works toward fault-tolerant quantum computing.
Founded in 2018, IQM builds full-stack, open-architecture superconducting quantum computers that can be deployed on-premise or accessed via the cloud. Its customers include research institutions, universities, high-performance computing centers, national laboratories and enterprises.