QxBranch, Inc., a data analytics company building software for quantum computers, today announced the close of a $4.1 million USD Series A round led by Dymon Asia Ventures and Alpha Intelligence Capital (AIC), firms with deep expertise in fintech and artificial intelligence technology, respectively. Investors also participating in the round include WorldQuant Ventures and the Maryland Venture Fund.
QxBranch builds applications and developer platforms for classical and quantum computers with a focus on predictive analytics, forecasting, and optimization. The company deploys enterprise analytics solutions for organizations facing difficult data science problems in industries including finance, insurance, pharmaceuticals, media, and energy.
“We’re thrilled to welcome new investors to help accelerate QxBranch’s leadership in creating data analytics applications that combine the best of classical computing and the emerging potential of quantum computers. This investment will be used to build platforms and analytics offerings that help our customers optimize pricing, better understand risk, and gain insight into customer behavior,” said Michael Brett, CEO of QxBranch.
QxBranch’s offerings make results of complex data analytics more explainable, meaning results of machine learning solutions are easily interpreted by humans. As quantum computers become available, software developers and data scientists will need advanced tools to take advantage of the new hardware and transparently communicate results.
Antoine Blondeau, the Co-Founder and Managing Partner of Alpha Intelligence Capital (AIC) has joined QxBranch’s board.
“Quantum computing is a whole new high-performance computation paradigm, that will drive a new wave of innovation like the first commercial computers did,” said Blondeau. “QxBranch uses its expertise in quantum computing architectures and quantum-inspired algorithmic models to build disruptive, yet practical, software applications in a range of industries. Having looked at companies in the quantum computing software ecosystem, we chose to invest in QxBranch because of its focus on AI applied to advanced analytics, which we believe will deliver great value to both customers and investors.”
QxBranch was selected by IBM as one of a small number of companies globally to access its quantum computing hardware and prepares market leaders globally for opportunities enabled by quantum technology.
Founded in 2014, QxBranch specializes in developing algorithms and software for quantum and classical computers, focused on predictive analytics, forecasting, and optimization. The company develops solutions for industry-leading organizations facing difficult business analytics challenges in domains including finance, insurance, pharmaceuticals, media, and energy. Headquartered in Washington, D.C., QxBranch has offices in Adelaide, Australia, and London, UK.
About Dymon Asia Ventures
Dymon Asia Ventures was founded in 2015 with a single mission: to partner with exceptional entrepreneurs that drive transformation in financial services. DAV is the venture capital arm of Dymon Asia Capital, an alternative investment manager headquartered in Singapore with approximately US$4.8 billion (including committed capital and notional assets) in assets under management as of April 30, 2018.
About Alpha Intelligence Capital
Alpha Intelligence Capital (AIC) is a global venture capital firm investing exclusively in companies with deep Artificial Intelligence technology at the core of their offerings and business models. AIC operates out of San Francisco and Hong Kong.