Harman Patil (Editor)

1QBit

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Covid-19
Industry  Computer software
Founded  1 December 2012
Number of employees  50
Website  www.1qbit.com
Headquarters  Vancouver
Type  Privately held company
1QBit 1qbitcomwpcontentuploads2016051QBitlogoPM
Key people  Andrew Fursman, CEO Landon Downs, President Robyn Foerster, GM David Roberts, Chair

1QB Information Technologies, Inc. (1QBit) is a quantum computing software company, based in Vancouver, British Columbia. 1QBit was founded on December 1, 2012 and a longstanding partnership with D-Wave Systems was formally announced on June 9, 2014. While 1QBit develops general purpose algorithms for quantum computing hardware, the organization is primarily focused on computational finance, the energy industry, and the life sciences.

Contents

Technology description

1QBit's software reformulates optimization problems into the quadratic unconstrained binary optimization (QUBO) format necessary to compute with D-Wave's quantum annealing 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 5th, 2015 the World Economic Forum announced 1QBit as a recipient of the 2015 Technology Pioneer Award recognizing 1QBit as a leader among the world’s most promising technology companies.

Locations

1QBit is headquartered in Vancouver, British Columbia, Canada. In early 2014, 1QBit was invited to join the OneEleven data community located in Toronto, Ontario, Canada. This second location serves as the data science and software production arm of the organization.

References

1QBit Wikipedia


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