- D-Wave has announced a definitive agreement to acquire Quantum Circuits, Inc. in a $550 million cash-and-stock deal. The combination will merge D-Wave’s superconducting quantum annealing platforms with Quantum Circuits’ expertise in superconducting gate-model systems, strengthening capabilities across both architectures.
- D-Wave has also demonstrated scalable on-chip cryogenic qubit control for gate-model systems, a major step toward commercial-scale quantum processors. Using multiplexed architectures adapted from annealing systems and high-coherence fluxonium qubits, this breakthrough addresses wiring complexity while preserving qubit fidelity, bringing larger, more practical processors closer to reality.
- A coalition of industry and policy leaders is pitching a $40 million, 2-year Pennsylvania Quantum Initiative to state lawmakers. The program aims to rebuild Pennsylvania’s competitiveness in quantum technologies after missing out on major federal funding.
- Fujitsu has announced plans for a 10,000-qubit superconducting quantum computer by 2030, targeting real-world applications with early fault-tolerant computing. Their roadmap includes scaling current devices, improving qubit manufacturing, advancing cryogenic packaging, and implementing robust error correction.
- Nu Quantum has closed an oversubscribed $60 million Series A round, a landmark for quantum networking. Led by CEO Carmen Palacios-Berraquero, the company is advancing scalable, distributed quantum computing. This milestone highlights the growing role of female leadership in deep tech and signals real momentum in bridging quantum processors for next-generation computing.
- Horizon Quantum is now the first quantum-software firm to own and operate a fully assembled quantum computer at its Singapore HQ. Full control over both hardware and software stacks narrows the gap between theory and application, unlocking new opportunities for developers, engineers, and researchers.
- Sparrow Quantum has raised €27.5 million to advance photonic quantum chips. Their work is accelerating progress toward real-world quantum computing and secure quantum communication.
- Photonic Inc. secured $130 million, bringing total funding to $271 million, to advance its Entanglement First Architecture. Using silicon spin qubits with “T center” defects and integrated quantum networking, the platform aims for commercial-scale, fault-tolerant quantum computing with efficient QLDPC error correction and Microsoft Azure integration.
“Over the next few years, we should be able to build quantum computers that can run the first commercial algorithms. For very specialized applications, let’s say in quantum physics, chemistry, or materials science, this is clearly the goal for us, and I think for the rest of the industry as well: to unlock the first commercial use cases.” Jan Goetz, CEO & Co-Founder, IQM.
For this edition of Qbit Curious, I sat down with Jan Goetz, the CEO & Co-Founder of IQM, a European leader in superconducting quantum computing. Founded in 2018, IQM is on a mission to deliver practical, scalable quantum machines, developing some of the continent’s most advanced quantum processors. Their work is driving Europe’s push in high-performance quantum hardware and building the foundation for commercially viable quantum systems.
For readers new to IQM, what sets your superconducting quantum computing approach apart from other players in the space?
Superconducting technology remains one of the most mature approaches in quantum computing, and IQM has focused on turning that maturity into real, deployable products. Unlike many players still proving concepts, IQM builds full-stack quantum computers and delivers them either as on-premise systems or via the cloud.
“We already have real products in the market today,” Jan explained. “In fact, we are the company that has sold the most on-premise quantum computers globally.”
This early market penetration gives IQM a first-mover advantage. While other quantum modalities are still in earlier development stages, superconducting systems benefit from a clear and detailed roadmap, particularly when it comes to scaling. According to IQM, the challenges ahead are significant but crucially, they are well understood and technically addressable.
Looking further ahead, IQM believes that once fully error-corrected quantum computers are available, differentiation will come down to total cost of ownership. This includes both manufacturing and operational costs. Superconducting quantum computers benefit from semiconductor-style chip manufacturing, which offers cost advantages at scale, as well as lower power consumption and much faster operation speeds than alternative approaches. These factors make them especially attractive for deployment in large data centers, where electricity costs dominate operating budgets.
IQM recently raised over $300 million in Series B funding, how will this accelerate your roadmap toward fault-tolerant quantum computing?
IQM’s recent $300+ million Series B round marks a major inflection point. While the company already generates revenue from system sales, scaling quantum hardware requires sustained capital investment.
A key priority is chip fabrication. IQM has announced a €40 million investment in its Finnish chip fabrication facility to enable next-generation quantum chips. Today, the facility can produce 150-qubit chips, but scaling toward thousands and eventually hundreds of thousands of qubits demands expanded manufacturing, testing, and validation capabilities.
Beyond hardware, funding is also being allocated to:
- Advanced R&D and system testing
- Cloud infrastructure expansion
- Commercial growth, particularly outside Europe
IQM has seen growing traction in Asia-Pacific markets such as Taiwan and Korea, as well as in the United States, and plans to accelerate global expansion using the new capital.
IQM has a diverse product portfolio from Spark to Halocene. How do you decide which systems to develop first, and what needs do they address?
IQM’s product strategy closely mirrors its technical roadmap, particularly around processor generations and qubit counts.
- Spark (5 qubits) Spark is designed primarily for universities and education, addressing one of the industry’s most pressing challenges: the quantum talent shortage. By allowing students to learn on real quantum hardware not just simulators IQM aims to strengthen the future workforce.
- Radiance systems are targeted at scientific computing centers and represent the core of IQM’s current commercial deployments.
- Halocene is the next-generation system designed to unlock quantum error correction. Built for larger processor generations starting at 150 qubits and scaling upward, Halocene integrates error correction capabilities directly into the system architecture.
All IQM systems can be accessed on-premise, via IQM’s Resonance cloud, or through third-party cloud providers such as AWS.
Halocene is designed to unlock quantum error correction. What are the biggest technical challenges in achieving this, and how is IQM tackling them?
Quantum error correction is central to achieving fault-tolerant quantum computing, but it introduces multiple layers of complexity. IQM is tackling this across several dimensions.
First is qubit quality. Error correction requires operating below specific error thresholds, particularly for two-qubit gate fidelities. IQM is currently achieving 99.95% gate fidelity, which is among the highest reported in the industry but further improvements are still a priority. This work depends heavily on materials research, new qubit designs, and continued technological refinement.
Second is scaling architecture. Rather than building a single monolithic chip, IQM is moving toward a chiplet-based approach, where smaller tiles are interconnected to form larger logical systems. This approach supports scalability while maintaining performance.
Third is the control and decoding layer. While the logic follows quantum principles, decoding and control rely on classical electronics, including FPGAs, ASICs, and GPUs. Integrating these components seamlessly into the quantum stack is a major engineering challenge.
Finally, system-level scaling requires innovation in interconnects and cabling, with transitions from traditional coaxial microwave lines toward flexible and optical connections as system sizes grow.
As a European quantum hardware company scaling globally, what have been the most critical lessons in growing the team and ecosystem?
Coming from a PhD background, Jan emphasized that one of the biggest learnings in building IQM has been understanding that technology alone is not enough.
“You can have the best technology, but if you don’t have the right people to develop it and bring it to market, it won’t succeed.”
Building high-performance teams has proven just as complex as building quantum hardware. Hiring strong individuals is necessary but insufficient; success depends on team dynamics, culture, and aligned mindsets. Unlike academic environments, companies require deep coordination across R&D, operations, marketing, and sales a learning curve that became clear as IQM scaled rapidly.
Looking ahead five years, what technical or commercial breakthroughs do you believe will define the trajectory of IQM and the broader quantum industry?
The quantum landscape differs markedly between Europe and the U.S. Europe has more startups, but often struggles with scale. The U.S., by contrast, has fewer but larger players, some already publicly listed.
IQM expects to see both consolidation and continued startup formation, particularly in Europe. The company sees itself as a platform builder and system integrator, open to incorporating strong teams or technologies that align with its vision.
Technologically, IQM believes Europe and the U.S. remain largely on par. The real differentiator over the next five years will be execution and scaling. IQM’s ambition is to deliver quantum systems capable of running the first commercially relevant quantum algorithms, particularly in chemistry, materials science, and quantum physics.
These won’t yet represent universal quantum advantage but they will mark the industry’s transition from promise to practical impact.
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