1QB Information Technologies, Inc. (1QBit) is a quantum computing software company, based in Vancouver, British Columbia. 1QBit was founded on December 1, 2012 and has established hardware partnerships with

Microsoft Microsoft Corporation is an American multinational technology corporation producing computer software, consumer electronics, personal computers, and related services headquartered at the Microsoft Redmond campus located in Redmond, Washin ...

, IBM, Fujitsu and

D-Wave Systems D-Wave Systems Inc. is a Canadian quantum computing company, based in Burnaby, British Columbia, Canada. D-Wave was the world's first company to sell computers to exploit quantum effects in their operation. D-Wave's early customers include Loc ...

. While 1QBit develops general purpose algorithms for quantum computing hardware, the organization is primarily focused on

computational finance Computational finance is a branch of applied computer science that deals with problems of practical interest in finance.Rüdiger U. Seydel, '' tp://nozdr.ru/biblio/kolxo3/F/FN/Seydel%20R.U.%20Tools%20for%20Computational%20Finance%20(4ed.,%20Spring ...

, materials science, quantum chemistry, and the life sciences.

Technology

1QBit has divisions focused on universal quantum computing, advanced AI techniques, cloud based quantum processing, and hardware innovation. 1QBit's 1Qloud platform is focused on optimization including reformulating optimization problems into the

quadratic unconstrained binary optimization Quadratic unconstrained binary optimization (QUBO), also known as unconstrained binary quadratic programming (UBQP), is a combinatorial optimization problem with a wide range of applications from finance and economics to machine learning. QUBO is ...

(QUBO) format necessary to compute with

quantum annealing Quantum annealing (QA) is an optimization process for finding the global minimum of a given objective function over a given set of candidate solutions (candidate states), by a process using quantum fluctuations. Quantum annealing is used mainl ...

processors and similar devices from organizations such as Fujitsu, D-Wave, Hitachi and NTT, while their QEMIST platform is focused on advanced materials and quantum chemistry research with universal quantum computing processors.

History

1QBit was founded as the first dedicated quantum computing software company in 2012. In 2013, 1QBit raised seed funding from US and Canadian angel investors, before closing a Series A financing round led by the Chicago Mercantile Exchange in 2014. On August 5, 2015 the

World Economic Forum The World Economic Forum (WEF) is an international non-governmental and lobbying organisation based in Cologny, canton of Geneva, Switzerland. It was founded on 24 January 1971 by German engineer and economist Klaus Schwab. The foundation, ...

announced 1QBit as a recipient of the 2015 Technology Pioneer Award recognizing 1QBit as a leader among the world's most promising technology companies. In 2017, 1QBit raised a $45M

Series B A venture round is a type of funding round used for venture capital financing, by which startup companies obtain investment, generally from venture capitalists and other institutional investors. The availability of venture funding is among the ...

financing round led by Fujitsu with participation from Allianz, Accenture,

The Royal Bank of Scotland The Royal Bank of Scotland plc (RBS; gd, Banca Rìoghail na h-Alba) is a major retail and commercial bank in Scotland. It is one of the retail banking subsidiaries of NatWest Group, together with NatWest (in England and Wales) and Ulster Ba ...

and the Chicago Mercantile Exchange. In April 2018, 1QBit joined the IBM Q Network, a global community of leading Fortune 500 companies, academic institutions, startups, and national research labs designed to explore practical applications for quantum computing. In May 2020, 1QBit and its collaborators serving health authorities from East to West obtained support from the Digital Technology Supercluster to facilitate the clinical implementation of XrAI, the first Artificial Intelligence (AI) radiology platform to be accredited by Health Canada as a Class III Medical Device.

Locations

1QBit is headquartered in

Vancouver, British Columbia, Canada Vancouver ( ) is a major city in western Canada, located in the Lower Mainland region of British Columbia. As the most populous city in the province, the 2021 Canadian census recorded 662,248 people in the city, up from 631,486 in 2016. The ...

. In early 2019, 1QBit opened a hardware innovation lab at the

University of Waterloo The University of Waterloo (UWaterloo, UW, or Waterloo) is a public research university with a main campus in Waterloo, Ontario, Canada. The main campus is on of land adjacent to "Uptown" Waterloo and Waterloo Park. The university also operates ...

Waterloo, Ontario Waterloo is a city in the Canadian province of Ontario. It is one of three cities in the Regional Municipality of Waterloo (formerly Waterloo County). Waterloo is situated about west-southwest of Toronto. Due to the close proximity of the ci ...

References

External links

* {{Vancouver Corporations Companies based in Vancouver 2012 establishments in British Columbia Software companies established in 2012 Financial software companies Quantum information science Software companies of Canada Quantum programming

Technology

History

Locations

See also

References

External links