Prior to its planned dual listing on U.S. and Helsinki stock exchanges, IQM Quantum Computers has secured 50 million euros ($57.64 million) in venture financing from funds and accounts managed by BlackRock to accelerate its global business expansion.

IQM stated in February of this year its intention to list on the U.S. stock market later this year via a merger with the special purpose acquisition company Real Asset Acquisition Corp., with an initial equity valuation of approximately $1.8 billion.

In a separate social media post on Thursday, BlackRock described quantum computing as representing "the next era of computing."

IQM CEO Jan Goetz said the new funding announced on Monday will help the Finnish company scale its operations, accelerate chip and technology research and development, and solidify its market position.

He told Reuters: "This is essentially about accelerating the pace of commercial expansion, driving us towards profitability."

Core of Tech Strategy

IQM, which primarily sells quantum computers and offers cloud computing services, saw its sales roughly double last year to approximately $35 million, and stated that its order book exceeded $100 million by year-end.

Discussing hardware sales, Goetz said, "We have not yet fully tapped the market potential across the entire private data center sector."

He added, "Quantum technology has become a core component of the technology strategies of nations worldwide."

In a separate video statement, Tony Kim, Global Technology Team Lead within BlackRock's Fundamental Equities division, noted a fundamental difference in how artificial intelligence and quantum computing approach problem-solving.

"AI reasons from data, quantum computing reasons from the laws of physics. The combination of the two has the potential to redefine the boundaries of computational capability," Kim said.