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
Ondot’s Mobile Card Controls Provide Protection to Thousands of Banks from ATM Heist Threat17.8.2018 22:47 | Pressemelding
-Card controls counter threat of FBI’s warning on unlimited ATM cash out crime - Santa Clara, Calif., Aug. 17, 2018 (GLOBE NEWSWIRE) -- US mainstream media is reporting on a FBI warning to banks of an impending cybercrime wave targeting ATMs in which thieves seek to steal millions of dollars by using cloned cards for fraudulent withdrawals. Ondot, the global leader in mobile payments services, provides consumers a simple protection with mobile-based card controls that can restrict ATM transactions without completely shutting off the card for legitimate needs. Ondot’s mobile controls can give consumers the ability to restrict transactions specifically for ATMs while leaving their cards active for in-person purchases, eCommerce, and other purchases. By locking the account’s use at an ATM, consumers can work with their financial institution to ensure other security best practices are in place while knowing that even a spoofed card will be unable to withdraw cash. If emergency cash is need
SEMAFO: Armed Incident in Bobo Area17.8.2018 15:48 | Pressemelding
MONTREAL, Aug. 17, 2018 (GLOBE NEWSWIRE) -- SEMAFO Inc. (TSX:SMF) (OMX:SMF) regrets to report that a bus transporting employees from the town of Bobo-Dioulasso to the Mana Mine in Burkina Faso was shot at by armed bandits this morning. In the exchange of fire between the policemen and bandits, one SEMAFO national employee and one sub-contractor employee lost their lives. Operations at the Mana Mine, located 80 kilometers from the incident, are not affected. Early analysis suggests that this incident and the armed incident that occurred in the Est region six days ago are unrelated. However, the Corporation will be increasing its security measures at Mana and take appropriate steps to ensure the safety of the mine and of its employees. The Corporation would like to express its sincere sympathy to families of the victims. About SEMAFO SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation operates the Mana Mine in Burkina
ThalesNano Energy Introduces H-Genie™: Revolutionary Compact, High Pressure Hydrogen Gas Generation Platform for Chemists17.8.2018 11:00 | Pressemelding
Improves safety, expands chemistry, saves lives. BUDAPEST, Hungary and BOSTON, Aug. 17, 2018 (GLOBE NEWSWIRE) -- ThalesNano Energy LLC today announced, at the 256th ACS conference (booth: 1615), the launch of the first in the series of revolutionary new gas generators, the H-Genie™. The H-Genie™ is a compact high pressure hydrogen generator designed to be used in any laboratory as a safer and simpler alternative to hydrogen cylinders. Capable of generating hydrogen at up to 1 NL/min and 100 bar (1450 psi), the system can help expand chemists’ limited hydrogenation chemistry capability by providing high purity hydrogen gas, on demand from water, to batch and flow reactors. Neal Langerman, Principal Scientist at Advanced Chemical Safety, comments: “The presence of cylinders of hydrogen raises the risk level of a lab. While the explosion or fire hazard can be mitigated with a gas cylinder cabinet, this takes precious floor space and does not eliminate the 1300 liters of flammable gas from
PayByPhone Supports Additional Languages16.8.2018 19:47 | Pressemelding
Drivers can now use the app in Spanish and Chinese VANCOUVER, British Columbia, Aug. 16, 2018 (GLOBE NEWSWIRE) -- Drivers who pay for their parking with the PayByPhone app can now use the app in Spanish, Traditional Chinese, and Simplified Chinese. Later this year, the leading mobile parking payment service will also be available in Punjabi. The support of multiple languages increases PayByPhone’s usability for its diverse consumer base, who are located across North America, Europe, and Australia. To gain access to the newly supported languages within PayByPhone, drivers can simply download the latest version of the app and set their iOS or Android device to their preferred language. “We’re excited to have expanded our language offerings beyond English and French,” said Barrie Arnold, Chief Commercial Officer, PayByPhone North America. “PayByPhone is available in many multicultural cities worldwide, and this update improves the app’s accessibility. PayByPhone has gained a global presen
Global Dairy Platform Announces Dairy Farmers of America CEO Rick Smith as New Board Chair16.8.2018 17:52 | Pressemelding
ROSEMONT, Ill., Aug. 16, 2018 (GLOBE NEWSWIRE) -- Global Dairy Platform (GDP), a pre-competitive collaboration of dairy sector organizations focused on encouraging the appropriate intake of nutrient-rich dairy foods and demonstrating the sector’s role in sustainable agriculture, today announced the appointment of Rick Smith, President and Chief Executive Officer of Dairy Farmers of America as Chair of the Board of Directors. “It is truly an honor to serve as Chair of GDP’s Board of Directors,” noted Mr. Smith. “We are facing global food and health challenges that need short and long-term solutions. The work of GDP creates an avenue for collaborative action that demonstrates dairy’s valuable contribution to global food systems, healthy diets and sustainable livelihoods.” Mr. Smith will serve on the board along with Fonterra Co-operative Group Chief Executive Officer Mr. Miles Hurrell; China Mengniu Dairy Company Executive Director and Chief Executive Officer Mr. Minfang (Jeffery) Lu; Ro
GridGain Systems Named to Inc. 500 List of America’s Fastest-Growing Private Companies for Second Consecutive Year16.8.2018 09:00 | Pressemelding
GridGain Ranks 17th among Software Companies, 13th in San Francisco Metro Area FOSTER CITY, Calif., Aug. 16, 2018 (GLOBE NEWSWIRE) -- GridGain Systems, provider of enterprise-grade in-memory computing solutions based on Apache® Ignite™, today announced it has been named to the 37th annual Inc. 500 list, a highly regarded ranking of the nation’s fastest-growing private companies. This is the second year in a row GridGain has been named to the list. GridGain’s rank of 158 on this year’s Inc. 500 list is up from number 187 last year. The company is ranked 17th among software companies, 13th in the San Francisco metro area, and 37th in the state of California. The Inc. 500 represents a unique look at the most successful companies within the American economy’s most dynamic segment – its independent small and midsized businesses. GridGain provides an in-memory computing platform that delivers speed, scale and high availability to data-intensive applications. Built on a memory-centric archite
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom