1QB Information Technologies (1QBit): 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, 2017-11-28 14:30 CET (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. 

About 1QBit
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. 

Press Contact:
1QBit
Contact: Amanda Downs
Cell Phone: [phone]
Email: [e-mail]
Website: https://1qbit.com