Quantum companies in Finland

Finland's quantum sector grew out of decades of low-temperature physics research at Aalto University and VTT. IQM builds superconducting quantum computers and Bluefors supplies the dilution refrigerators much of the industry runs on; around them is a cluster of younger companies in cryogenic electronics, control software and quantum algorithms.

Scaled 2

International revenue over EUR 20M and not declining.

• 
  Bluefors

  Helsinki · founded 2008 · 🦄 Unicorn

  Ultra-low-temperature dilution cryostats for quantum hardware — global market leader, critical to the EU quantum supply chain.

• 
  IQM Quantum Computers

  Espoo · founded 2018 · 📈 Listed

  Superconducting full-stack quantum computers; Europe's leader. Listed on Nasdaq 2 Jul 2026 (IQMX, ~$1.8B) — Europe's first public quantum company.

In market 5

Product is being sold.

• 
  Algorithmiq

  Helsinki · founded 2020

  Quantum algorithms (quantum chemistry / life sciences); error mitigation.

• 
  Arctic Instruments

  Espoo · founded 2024

  Microwave readout for quantum tech: near-quantum-limited TWPA amplifiers for qubit readout (<1 photon added noise). A quantum supply-chain component.

• 
  QuantrolOx

  Espoo · founded 2021

  Machine-learning-based automated calibration and control of qubits.

• 
  Qutwo

  Helsinki · founded 2025

  AI lab for the quantum era — hybrid quantum-AI orchestration (Qutwo OS), enterprise clients incl. Zalando. €25M angel (~€325M valuation); founder Peter Sarlin (ex-Silo AI).

• 
  SemiQon

  Espoo · founded 2022

  Silicon-based cryo-CMOS read/control electronics inside the cryostat — cuts wiring to scale qubits toward thousands/millions. Customers incl. IQM/IBM-type machines. CEO Himadri Majumdar (ex-VTT), founded 2023…

Pre-revenue 3

No sales yet.

• 
  QMill

  Espoo · founded 2024

  Quantum algorithms for near-term industrial advantage (NISQ). €4M seed (Maki.vc, Antler); founders Hannu Kauppinen (ex-Nokia CTO) & Mikko Möttönen.

• 
  Quantastica

  Helsinki · founded 2019

  Quantum software tools: algorithm generation and optimization, cross-platform code conversion and simulators. Founded 2019 (Icebreaker.vc); offices Helsinki/Tallinn/Subotica.

• 
  S-transistors

  Espoo · founded 2026

  Superconducting transistors: transistor logic with the ultra-low power dissipation of superconductors. First product is a cryogenic multiplexer that cuts the wiring and power needed to control large quantum…

Research projects (pre-company) 1

University and VTT commercialisation projects — no legal entity or funding round yet. Not a complete national list.

• 
  ProSQu

  Aalto · Espoo

  High-density, low-noise cryogenic interconnects (filters, attenuators, flexible transmission lines) for wiring large-scale quantum computers - addresses the I/O bottleneck that limits scaling past a few…

Other sectors

How this list was made

Every company is checked by hand against the trade register and its own material, and placed in the one sector that best describes its business or technology. Service firms and consultancies are left out. The full rules are on the landscape ↗