IQM Quantum Computers Oyj
Hardware-led full-stack QC: sells/delivers on-premises superconducting quantum computers to HPC centers, national labs and (newly) enterprises, plus cloud QPU access (AWS Braket) and HPC-integration/software services; capital-intensive, pre-profitability, government/research-funded demand.
Only two valuations were credibly disclosed: the ~$1B+ Sep-2025 Series B (Bloomberg-reported, exact figure not officially confirmed) and the $1.8B pre-money RAAQ de-SPAC (announced Feb 2026, EGM vote scheduled Jun 25 2026 — close/listing not yet confirmed at asOf). Earlier rounds (€11M seed ~2019, €39M Series A1 2020, €128M Series A2 Jul 2022) disclosed raise size but NO post-money valuation — TechCrunch's "near $1B" on the 2022 round is a reporter estimate, not a disclosed figure, so omitted per honesty gate.
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- Income statement & margin structure
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- Supplier–customer ecosystem graph
- Signals, trends & valuation range