1QBit Spinoff “Reinventing How Chemistry is Simulated”

Seed Round

This week brought the news that Accenture (NYSE: ACN), an Ireland-based multinational professional services company that specializes in information technology services and consulting, has made a strategic investment, through Accenture Ventures, in Good Chemistry Company, a spinoff from leading quantum player 1QBit that will join Accenture Ventures’ Project Spotlight program.

With the aim of using quantum chemistry, machine learning (ML) and quantum computing (QC) to accelerate new materials design, Good Chemistry Company was founded by Arman Zaribafiyan this year.

“[…] Reinventing how chemistry is simulated.”

— Good Chemistry Company

Good Chemistry Company is all about its QEMIST Cloud — Accurate Computational Chemistry as a Service, an engine that

enables faster, more accurate, and scalable ways to perform computational chemistry simulations. Its new platform leverages easily and readily accessible computers on the cloud to perform chemistry simulations that were previously intractable even in expensive, high-performance computing environments

Good Chemistry Company

Currently available to beta users, the QEMIST Cloud platform guarantees high accuracy and high throughput designed for computational chemistry developers, is built on the cloud, and is powered by AI and elevated by QC, making Accenture Ventures’ Seed funding go a long way go in helping the spinoff reach its short-to-long-term goals in this area.

“With our platform, we are reimagining the way computational chemistry simulations are done. Simulating chemistry on computers will help drive faster, more accurate and more accessible materials innovation in the decades to come. With Accenture’s support and collaboration, we will be able to explore the vastness of chemical space and enable rational materials design at scale,” said Arman Zaribafiyan, CEO of Good Chemistry Company.

With some $5.6 billion (USD) in total VC funding as of April 2024 according to The Quantum Insider’s proprietary data platform, the quantum computing industry is on the rise.

And Good Chemistry Company’s Seed round only solidifies that fact.

CEO and Founder Arman Zaribafiyan is an innovation lead who is enthusiastic about emerging computing technologies, like quantum computing, and connecting these technologies to computationally challenging and intractable industry problems. Passionate about people and teamwork, Zaribafiyan’s focus is always on building and growing multidisciplinary product-oriented R&D teams to design and develop forward-looking industry applications with long-term strategic impact.

Zaribafiyan’s skill set includes providing cutting-edge solutions and services to Fortune 100 industries, assisting them to develop strategic roadmaps for adopting transformative computing technologies.

Prior to starting the Good Chemistry Company, Zaribafiyan worked at 1QBit in several senior and managerial positions, from Senior Researcher, Head of Quantum Computing to CTO of the Computational Chemistry Division.

Zaribafiyan obtained a Ph.D. in Quantum Computing from The University of British Columbia, where he investigated foundational aspects of hybrid quantum computing in his research. He also had the privilege of working closely with 1QBit, Quantum Matter Institute, Quantum BC, the Quantum Algorithms Institute and other leading quantum initiatives in British Colombia during his Ph.D. research.

Boosted by its participation in Accenture Ventures’ Project Spotlight, an exciting program that connects emerging technology software startups with the Global 2000 to fill strategic innovation gaps, Good Chemistry Company’s target of “making the world cleaner, healthier and more sustainable by accelerating materials design” — with the help of QC — is right on plan.

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