IQM, Europe’s first public quantum company, admits the future of the tech is uncertain

techcrunch.com Jul 3, 2026

IQM, Europe’s first public quantum company, admits the future of the tech is uncertain

Curated by Shubham · TechCapsules · Jul 3, 2026

AI-summarised brief · reviewed before publication

IQM, Europe's first public quantum company, went public on the Nasdaq via a SPAC merger at a valuation of about $1.9 billion. However, its share prices spent most of the day below the IPO price, a lukewarm welcome. IQM admitted in its prospectus that large-scale commercial traction of quantum computing technology may never occur, but the company has already acquired customers for tasks like simulations and optimizations. It has customers in Finland and Germany, and has grown from eight customers in 2024 to 22 in 2025.

💡 Why It Matters

· The uncertainty surrounding quantum computing's future may be a red flag for investors, but it hasn't deterred IQM from acquiring customers and expanding its global presence.

Capsules Quantum Computing

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UCF Scientist Develops New Approach to Reduce Quantum Computing Errors

Assistant Professor Han Zhao at the University of Central Florida is developing a new approach to reduce errors in quantum computing. The method, supported by the Oak Ridge Associated Universities Ralph E. Powe Junior Faculty Enhancement Award, uses tiny mechanical vibrations and superconducting systems to stabilize quantum states. This approach aims to improve the reliability of quantum systems, enabling breakthroughs in areas such as medicine, energy, and advanced materials. The project leverages advanced quantum infrastructure at UCF and involves graduate student research and the acquisition of specialized superconducting quantum hardware.

💡 This breakthrough could accelerate the development of practical quantum computers, which could solve complex problems beyond the reach of even the world's most powerful supercomputers. By reducing errors and increasing reliability, Zhao's research could unlock new applications in fields like medicine and energy, ultimately driving innovation and economic growth.

quantumcomputingreport.com · Jul 3

CCRAFT Secures $11.3 Million and Expands Independent TFLN Photonic Chip Foundry

CCRAFT, a Swiss-based company, has secured $11.3 million in funding to expand its independent TFLN photonic chip foundry. The capital influx will accelerate CCRAFT's industrial-scale manufacturing capabilities to meet the demands of artificial intelligence infrastructure, high-speed telecommunications, and quantum technologies. The company's automated fabrication facility in Neuchâtel is scaling up production to 2,000 wafers per month by 2030, capitalizing on six years of microfabrication research from CSEM. CCRAFT's TFLN-based photonic integrated circuits manipulate data using light waves, offering superior velocities and energy efficiency.

💡 The strategic manufacturing footprint of CCRAFT introduces a geopolitical advantage for Europe, carving out a specialized technological lead in the semiconductor market. By providing a trusted manufacturing anchor with intellectual property protection and industrial sovereignty, CCRAFT is transforming Switzerland from an academic research hub into a sovereign, high-precision industrial foundry network.

thequantuminsider.com · Jul 3

Qolab Secures $54.2 Million in Series B to Advance Superconducting Quantum Computing

Qolab, a leader in quantum computing hardware, secured $54.2 million in Series B financing to advance its superconducting quantum computing platform and fault-tolerant quantum computing roadmap. The funding was led by UC Investments, with participation from existing investors including WARF, Octave Ventures, and Phoenix Venture Partners. The company will use the funding to support semiconductor collaborations, technology development, and manufacturing scale-up for superconducting quantum systems. Qolab co-founder and Chief Technology Officer Dr. John Martinis, a Nobel laureate, joined fellow scientists at the 75th Lindau Nobel Laureate Meeting to announce the funding.

💡 The investment by UC Investments further deepens Qolab's ties across the University of California's world-class research ecosystem, accelerating the development of scalable quantum systems and fostering scientific excellence. This strategic partnership has the potential to transform the quantum computing industry by delivering scalable quantum technologies that can address real-world challenges.

quantumcomputingreport.com · Jul 3

JIJ and Kobe Steel Sign Framework Agreement to Launch Quantum Center of…

Tokyo-based software startup JIJ Inc. has signed a multi-year framework agreement with industrial manufacturer Kobe Steel, Ltd. to accelerate the adoption of quantum computing and mathematical optimization across the KOBELCO Group. The agreement aims to establish a collaborative Quantum Center of Excellence, focusing on building internal capabilities, developing specialized talent, and transitioning quantum applications into production environments. Initial projects will target industrial engineering problems, such as materials design and production scheduling, using JIJ's open-architecture mathematical modeling platform.

💡 The partnership between JIJ and Kobe Steel represents a significant step towards integrating quantum computing into industrial manufacturing, potentially unlocking new business models and improving efficiency. By leveraging quantum-inspired optimization, the KOBELCO Group can balance its legacy industrial margins with innovation, driving structural ambidexterity in its corporate transformation.

thequantuminsider.com · Jul 3

IQM Shares Begin Trading After Nasdaq Debut

IQM Quantum Computers began trading on Nasdaq under the ticker IQMX after completing its SPAC merger with Real Asset Acquisition Corp. The company's American depositary shares initially fell 7.5% before rebounding, and its warrants will trade separately under the ticker IQMX WS. IQM develops superconducting quantum computers and sells full-stack systems to research institutions and national computing centers. The listing provides IQM with access to public capital for continued development and sales. Founded in 2018 in Finland, IQM has expanded globally with over 400 employees. Its public-market debut supports hardware development and commercialization in the early-stage quantum computing sector.

💡 Public funding will accelerate IQM's development of superconducting quantum computers, a key technology in the global quantum race. Government support for domestic access to quantum technology drives demand for installed systems.

thequantuminsider.com · Jul 3

JIJ and Kobe Steel Sign Framework Agreement to Advance Quantum Computing Adoption

JIJ and Kobe Steel have signed a framework agreement to advance quantum computing adoption across the KOBELCO Group through a multi-year program. The initiative includes creating a Quantum Center of Excellence focused on technology implementation, workforce development, and governance. Initial projects will target materials development, production management, and process optimization to evaluate practical industrial applications of quantum computing. The program aims to strengthen the KOBELCO Group's ability to solve complex business challenges and create new opportunities. The agreement marks a significant step in adopting quantum computing technologies to address evolving business challenges.

💡 By leveraging quantum computing, the KOBELCO Group can tackle complex problems that traditional methods struggle to solve, such as materials design and production planning under multiple constraints. This partnership enables the group to develop tailored solutions and build internal expertise.