1QBit

1QB Information Technologies Inc.

Type| Privately held company
Industry| Software
Founded| December 1, 2012 (2012-12-01)
Headquarters|

Vancouver, British Columbia

Canada

Key people

* Andrew Fursman
* Landon Downs

Products| 1Qloud; QEMIST; xrAI[1]

Number of employees

| 100[2] (2019)
Website| www.1qbit.com

1QB Information Technologies, Inc. (1QBit) is a quantum computing software company, based in Vancouver, British Columbia. 1QBit was founded on December 1, 2012[3] and has established hardware partnerships with Microsoft, IBM, Fujitsu and D-Wave Systems.[4] While 1QBit develops general purpose algorithms for quantum computing hardware, the organization is primarily focused on computational finance, materials science, quantum chemistry, and the life sciences.[5]

## Contents

* 1 Technology
* 2 History
* 3 Locations
* 4 See also
* 5 References
* 6 External links

## 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 (QUBO) format necessary to compute with quantum annealing processors and similar devices from organizations such as Fujitsu, D-Wave, Hitachi and NTT.[6]

## History

1QBit was founded as the first dedicated quantum computing software company in 2012.[7] 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.[8]

On August 5, 2015, the World Economic Forum announced 1QBit as a recipient of the 2015 Technology Pioneer Award[9] recognizing 1QBit as a leader among the world's most promising technology companies.[10] In 2017, 1QBit raised a $45M Series B financing round led by Fujitsu with participation from Allianz, Accenture, The Royal Bank of Scotland and the Chicago Mercantile Exchange.[11] 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.[12]

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.[13]

## Locations

1QBit is headquartered in Vancouver, British Columbia, Canada.[14] In early 2019, 1QBit opened a hardware innovation lab at the University of Waterloo in Waterloo, Ontario.

## See also

* Adiabatic quantum computation
* Quantum computing
* Quantum simulator
* Timeline of quantum computing and communication

## References

1. ↑ "Regulator fast-tracks 1QBit’s X-ray software to help fight COVID-19". Business in Vancouver. April 14, 2020. https://www.biv.com/news/technology/regulator-fast-tracks-1qbits-x-ray-software-help-fight-covid-19-8259668.
2. ↑ "1QBit Founder & CEO Discusses Need for Skilled Talent to Grow Quantum Companies". Inside Quantum Technology. July 17, 2019. https://www.insidequantumtechnology.com/news-archive/1qbit-founder-ceo-discusses-need-skilled-talent-grow-quantum-companies/.
3. ↑ "Founding of 1QBit". December 1, 2012. http://1qbit.com/founding-of-1qbit/.
4. ↑ "D-Wave Systems Building Quantum Application Ecosystem, Announces Partnerships with DNA-SEQ Alliance and 1QBit". June 9, 2014. http://www.dwavesys.com/press-releases/d-wave-systems-building-quantum-application-ecosystem-announces-partnerships-dna-seq.
5. ↑ "Research Papers". http://1qbit.com/research.html. Retrieved 16 June 2014.
6. ↑ Dion, Marco (November 4, 2013). "Europe Equity Research". J.P. Morgan Equity Quant Conference 2013 6: 12. http://www.quantresearch.info/JPM_CONFERENCE_SUMMARY_2013.pdf. Retrieved 16 June 2014.
7. ↑ "CNBC Exponential Finance". CNBC. 8 May 2014. https://www.cnbc.com/phil-goddard/. Retrieved 14 April 2016.
8. ↑ Marek, Lynne (May 5, 2014). "CME makes a new bet on the future". Crain's Chicago Business. http://www.chicagobusiness.com/article/20140503/ISSUE01/305039965/cme-makes-a-new-bet-on-the-future. Retrieved 16 June 2014.
9. ↑ "2015 Technology Pioneers". http://widgets.weforum.org/techpioneers-2015b/. Retrieved 16 August 2015.
10. ↑ Shaw, Gillian (August 5, 2015). "Vancouver company named among world's most promising tech pioneers". Vancouver Sun. https://vancouversun.com/technology/Vancouver+company+named+among+world+most+promising+tech+pioneers/11268818/story.html. Retrieved August 16, 2015.
11. ↑ Greenwood, Max (November 28, 2017). "1QBit Announces $45 Million Series B and Partners with Accenture". Tech Vibes. https://techvibes.com/2017/11/28/1qbit-secures-45-million-series-b-partners-with-accenture. Retrieved Feb 6, 2019.
12. ↑ "Vancouver-Based 1QBit Joins the IBM Q Network to Explore Practical Applications for Quantum Computing". https://www.bctechnology.com/news/2018/4/6/Vancouver-Based-1QBit-Joins-the-IBM-Q-Network-to-Explore-Practical-Applications-for-Quantum-Computing.cfm?v=2.
13. ↑ "1QBit and Canadian health care providers team up to empower front-line clinicians with Health Canada's first approved AI tool for radiology in the fight against COVID-19". 7 May 2020. https://www.prnewswire.co.uk/news-releases/1qbit-and-canadian-health-care-providers-team-up-to-empower-front-line-clinicians-with-health-canada-s-first-approved-ai-tool-for-radiology-in-the-fight-against-covid-19-811944524.html.
14. ↑ "Contact Us". http://1qbit.com/contact-us/. Retrieved 25 May 2016.

## External links

* Official website

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