RBS joins $45 million funding round for 1QBit

Written by Anthony Strzalek
01/12/2017

Quantum computing startup 1Qbit has announced the closure of a $45 million Series B fundraising round led by Fujitsu, with additional investors including RBS, Accenture, Allianz and CME Ventures.

1QBit has seen significant growth over the last year, adding 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.

Over the last four years, 1QBit has grown into a multidisciplinary team of over 50 researchers, software developers, and industry experts who specialise in developing algorithms and software for quantum and classical computing, focused on machine learning, optimisation methods, and simulation.

Landon Downs, president of 1QBit, said: “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 commercialisation activities.”

Naoko Yoshizawa, SVP, head of Fujitsu’s AI platform business unit, added: “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, optimisation, and machine learning problems.”

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