Canada-based quantum software producer 1QB Information Technologies (1Qbit) closed a C$45m ($35m) series B round yesterday led by IT equipment and services company Fujitsu.
The round also included CME Ventures, the investment arm of futures marketplace operator CME, consultancy Accenture, insurance firm Allianz and financial services firm Royal Bank of Scotland.
The investment is made up of equity funding and revenue contracts, though 1QBit did not offer details on individual amounts.
1Qbit is working on quantum computing technology and quantum-inspired software, enabling enterprises to build applications that scale with advances made in both classical and quantum computing.
The company primarily focuses on complex problems that require vast amounts of computing power to solve, targeting sectors such as advanced materials, life sciences, energy and finance.
The series B investment will allow 1Qbit to grow its research and software development teams. 1Qbit has not released information on previous funding rounds.
Naoko Yoshizawa, senior vice-president, head of Fujitsu’s AI Platform Business Unit, said: “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.”