1QBit Raises $45M Series B Round from Fujitsu, Accenture, and Allianz to Advance Industry Applications of Quantum Computing
Strategic investment and revenue contracts fund continued development of 1QBit's hardware-agnostic software platform and applications for solving industry's most demanding computational challenges.
VANCOUVER, British Columbia, Nov. 28, 2017 (GLOBE NEWSWIRE) -- 1QB Information Technologies Inc. (1QBit), a software company solving industry's most demanding computational challenges using the most advanced quantum and classical hardware available, today announced the close of a C$45 million Series B round comprising equity and revenue contracts. This funding round is led by Fujitsu Limited, with additional strategic investment by Accenture, Allianz, The Royal Bank of Scotland, and CME Ventures.
1QBit has experienced significant growth over the last year, adding key science and business leaders to its team of experts, and plans to use this latest investment to continue to expand its research and software development teams.
"These strategic partners strengthen 1QBit's position as a leader in applying classical and quantum computers to industry problems and expanding the breadth of our commercialization activities," said Landon Downs, President of 1QBit.
Over the last four years, 1QBit has grown into a multidisciplinary team of over 50 researchers, software developers, and industry experts who specialize in developing algorithms and software for quantum and classical computing, focused on machine learning, optimization methods, and simulation. The company develops solutions for industry-leading organizations facing computationally intensive problems in domains that include, advanced materials, life sciences, energy, and finance. 1QBit works directly with Fortune 500 clients, such as DowDuPont and Biogen, across these sectors.
"This strategic investment and partnership will enable our customers to use 1QBit's software platform and deep expertise in leveraging the most advanced hardware systems, including our digital annealer, to rapidly develop improved applications for solving sampling, optimization, and machine learning problems," said Naoko Yoshizawa, SVP, Head of Fujitsu's AI Platform Business Unit.
1QBit's expertise in quantum computing and a variety of specialized fields, including mathematics, physics, chemistry, materials science, and operations research, enables the development of novel algorithms for application-oriented software solutions for industry. The company's technology spans the full stack, from SDK to web API.
"The 1QBit platform accelerates our client's ability to leverage the most advanced quantum and classical processors available to solve their most complex business challenges, and gives them a hardware-agnostic solution that enables them to stay ahead of the computational curve," said Paul Daugherty, Accenture's Chief Technology & Innovation Officer. 1QBit and Accenture announced today that they have formed a strategic alliance which will help Accenture expand its analytics capabilities using quantum computing, and build a new era of intelligence for businesses and organizations.
1QBit redefines intractable problems by reframing them using the most effective quantum and classical processors. The company takes a hardware-agnostic approach to assess a partner's industry problem and develops an API that will produce the best available results today, while continually improving upon them through the ability to switch the underlying solvers as new software is released and hardware architectures are developed.
1QBit is actively involved in the global community and the conversation around computational progress as an advisor and strategic partner in the new UNICRI Centre for Artificial Intelligence and Robotics, as a 2015 World Economic Forum Technology Pioneer, and as a member of the WEF Global Future Councils, The Future of Computing.
1QBit is dedicated to building quantum and quantum-inspired software to solve the world's most demanding computational challenges. The company's hardware-agnostic platforms and services enable the development of applications which scale alongside advances in both classical and quantum computers. 1QBit partners with Fortune 500 clients and leading hardware providers to redefine intractable industry problems in the areas of optimization, simulation, and machine learning. Headquartered in Vancouver, Canada, 1QBit's interdisciplinary team of 50 comprises mathematicians, physicists, chemists, software developers, and quantum computing experts who develop novel solutions to problems, from research through to commercial application development. For more information, please visit https://1qbit.com.
Contact: Amanda Downs
Cell Phone: +1 (778) 987-8191
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: 1QB Information Technologies (1QBit) via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
P&WC's FAST(TM) Solution to Bring Data-Driven Predictability to Operators of the PT6A-67P-powered Pilatus PC-12 NG Aircraft28.5.2018 08:00 | Pressemelding
Launching on PlaneSense's fleet of PC-12 aircraft, the FAST(TM) solution will help drive reduced costs and increased availability for the leading fractional operator GENEVA, Switzerland, May 28, 2018 (GLOBE NEWSWIRE) -- Pratt & Whitney Canada (P&WC) has achieved Supplemental Type Certification (STC) for its FAST(TM) prognostics solution on the single-engine Pilatus PC-12 47E NG aircraft powered by the PT6A-67P. The FAST solution captures and analyzes full-flight engine and aircraft data, enabling high visibility on a multitude of key operating parameters within 15 minutes of the pilot shutting down the engine, which can be used to optimize maintenance planning and operations and further increase aircraft availability. P&WC is a subsidiary of United Technologies Corporation (NYSE:UTX). PlaneSense, a leading fractional aircraft ownership program, will launch the FAST solution on its fleet of PC-12 NG aircraft. "We at PlaneSense have always been focused on safety, reliability, and maintai
GlobeNewswire Test Release26.5.2018 07:00 | Pressemelding
LOS ANGELES, May 25, 2018 (GLOBE NEWSWIRE) -- This is a test from GlobeNewswire. Readers are advised to disregard. TESTING -- TESTING -- TESTING -- TESTING -- TESTING -- TESTING -- TESTING -- TESTING – -END- CONTACT: Karen Yu Director, GlobeNewswire Product Management Direct: +1 310 258 6917 Mobile: +1 626 389 7427 or Magali Rolandez Senior Manager, Media Relations/Content Distribution Europe Direct: +44 (0) 203 753 2215 Mobile: +44 (0) 7785 619 539
Medibio Corporate Health Extends Global Footprint Signing Contract with Jacobs Engineering25.5.2018 16:38 | Pressemelding
Jacobs, one of the world's largest engineering and environmental consultancy groups, has more than 70,000 employees globally SYDNEY, Australia and MINNEAPOLIS, May 25, 2018 (GLOBE NEWSWIRE) -- Medibio Limited (MEB or the Company) (ASX:MEB) (OTCQB:MDBIF), a mental health technology company, today announced a significant contract for Medibio's Corporate Health product with Dallas, TX-based Jacobs Engineering across their Asia Pacific, Middle East, and European divisions. Through the Mental Health Check-In, companies can offer employees an end-to-end mental health program, direct to their devices, to see how the mind and body are tracking. It's a personalized, private, and objective way to see the unseeable: mental health issues in the workplace. Employees are provided the opportunity to confidentially check-in on their mental health and receive personalized confidential results from both an objective biometric screening in conjunction with a 12-minute subjective survey. Employers receive
VIRGIN PULSE ANNOUNCES INDUSTRY-LEADING GDPR COMPLIANCE25.5.2018 14:00 | Pressemelding
Virgin Pulse Extends the GDPR's Strong Data Privacy Rights to All Clients and Members Across the Globe PROVIDENCE, R.I., May 25, 2018 (GLOBE NEWSWIRE) -- Virgin Pulse, the leading global provider of digital employee health, wellbeing and engagement solutions, today announced that it has achieved compliance with the EU General Data Protection Regulation (GDPR) for the Virgin Pulse platform. The company has also appointed Associate Counsel Beatrice Botti as Data Protection Officer (DPO) to oversee the Virgin Pulse privacy program. With this achievement, Virgin Pulse leads the market as the first company in the wellbeing and engagement industry to fully meet the comprehensive standards of the new GDPR data privacy law. The company has completed a thorough review of its internal data collection, storage and handling processes and implemented enhancements to achieve GDPR compliance and give all Virgin Pulse customers and members greater control over their personal data. The GDPR is the firs
Resverlogix Provides Unrestricted Educational Grant for Epigenetic Symposium at International Renal Congress25.5.2018 07:45 | Pressemelding
CALGARY, Alberta, May 24, 2018 (GLOBE NEWSWIRE) -- Resverlogix Corp. ("Resverlogix" or the "Company") (TSX:RVX) today announced that on Friday, May 25, 2018, at the European Renal Association - European Dialysis and Transplant Association (ERA-EDTA) Congress in Copenhagen, Denmark, the Company is supporting a symposium titled: "Epigenetics in CKD & CVD: A potential breakthrough therapy?" The symposium highlights the role of epigenetics and BET-inhibition in chronic kidney disease and cardiovascular disease, especially in patients with diabetes mellitus, and the significant unmet need that still exists in this patient population. The symposium is co-chaired by Vincent M. Brandenburg, MD - Nephrologist, Aachen, Germany and Kamyar Kalantar-Zadeh, MD - UC Irvine School of Medicine, Irvine, CA, USA, both leading scientists also serving as advisors to Resverlogix's Renal program. The speakers and agenda are as follows: Introduction Vincent M. Brandenburg, MD - University Hospital of the RWTH
Atico Reports Consolidated Financial Results for the First Quarter of 201824.5.2018 22:30 | Pressemelding
(All amounts expressed in US dollars, unless otherwise stated) VANCOUVER, British Columbia, May 24, 2018 (GLOBE NEWSWIRE) -- Atico Mining Corporation (the "Company" or "Atico") (TSX.V:ATY) (OTC:ATCMF) today announced its financial results for the three months ended March 31, 2018, posting a net income of $0.4 million. Fernando E. Ganoza, CEO and Director, commented, "The strong production and all-in sustaining cash cost of $1.85 achieved this quarter is not reflected in the financial results as a large concentrate shipment was delayed to the second quarter, along with the revenue associated with those tonnes. The shipping schedule is expected to stabilize during the second quarter, where we will then benefit from the additional shipped concentrate and recognized revenue. We anticipate strong financial results in the next quarter." Mr. Ganoza continued, "Our emphasis will continue to be on further strengthening our balance sheet, improving production costs and most importantly regional
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom