Accenture's venture arm has made an undisclosed investment in quantum computing startup 1QBit. The minority stake is part of 1QBit's $45 million Series B round led by Fujitsu Limited.
Based in Vancouver, British Columbia, 1QBit employs a team of more than 50 researchers and software developers working to develop machine learning algorithms and software for quantum computing.
The startup says it works with clients "facing computationally intensive problems" across the life sciences, energy and finance industries, including DowDuPont and Biogen.
Accenture said its investment will help the company expand its ongoing work in quantum computing analytics.
Accenture and 1QBit collaborated earlier this year with Biogen to develop a quantum-enabled molecular-comparison application designed to speed up drug discovery for neurological conditions such as multiple sclerosis, Alzheimer's, Parkinson's, and Lou Gehrig's disease.
Accenture has also filed multiple patent applications around quantum computing technology, including methods to optimize the flight path of a drone system.
"Quantum computing is a turbocharger for analytics and the creation of new intelligence," said Narendra Mulani, chief analytics officer for Accenture Analytics. "We see massive potential for using the 1QBit platform on behalf of our clients to pursue quantum-inspired analytics, which will help us unlock even more value trapped in their data and find new opportunities to transform their businesses."
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