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Good Chemistry spins out of 1QBit, locks in seed funding

Vancouver-based Good Chemistry has spun out of advanced computing software company 1QBit and raised seed financing.

Vancouver-based Good Chemistry has spun out of advanced computing software company 1QBit and raised seed financing. No financial terms were released for the round, which was backed by Green Sands Equity, Accenture and WorldQuant Ventures. Good Chemistry’s uses quantum chemistry, machine learning and quantum computing to accelerate new materials design.

PRESS RELEASE

Good Chemistry Company secures seed funding to accelerate the discovery and design of new materials across a vast number of industries

VANCOUVER, B.C. – April 5th, 2022 – The computational chemistry team founded within advanced computing software pioneer, 1QBit, announced today that it is branching out and forming a new independent venture, named Good Chemistry. Backed by Green Sands Equity, Accenture, and WorldQuant Ventures, Good Chemistry is set to fundamentally change the way new materials are discovered and designed across a vast number of industries — including chemical, pharmaceutical, oil and gas, automotive, and academic research — by harnessing the power of computational and quantum chemistry and placing it in the hands of developers.

Through its active research, development, and industry collaborations over the last three years, Good Chemistry is already working with heavyweights including Dow, Amazon Web Services (AWS), DIC Corporation, and Microsoft — due in large part to its proprietary advances in computational chemistry and simulations, which have enabled the shift from the physical lab to the digital world, dramatically decreasing time to market, cost of development, and the amount of infrastructure previously required.

Heading Good Chemistry’s team is CEO and Founder, Arman Zaribafiyan, 1QBit’s first hire and founder of its quantum simulation division, who holds a Ph.D. in quantum information from the University of British Columbia.

“We have integrated some of the most critical technological advances of the last decade — such as cloud, AI, and the emerging quantum computers — into our platform, QEMIST Cloud,” says CEO Arman Zaribafiyan. “Our cloud-based developer platform is already capable of simulating unprecedentedly large simulations on the cloud with very high accuracy methods.”

Three factors setting Good Chemistry apart are its use of multiple paradigms of technology; its inclusion of the developer community at large in their product development, in particular, those emerging at the intersection of quantum chemistry, software, and machine learning; and its interdisciplinary team of software engineers, computational and quantum chemists, machine learning scientists, and quantum computing scientists.

Good Chemistry’s Scientific Advisory Board comprises some of the industry’s top talent:

Paul Zimmerman, Professor of Chemistry at the University of Michigan and developer of the iFCI method, which is one of the core solvers in Good Chemistry’s cloud-based computational chemistry platform, QEMIST Cloud.
Frank Noe, Professor at Freie Universitat in Berlin, Germany, known for his pioneering work in applying machine learning across physical sciences, including chemistry and biophysics. He has made numerous contributions to the field, including his recent work on leveraging machine learning to perform high-accuracy quantum chemistry calculations.
Isaac Kim, Assistant Professor of Computer Science at the University of California, Davis. Isaac studies the structure of entanglement in quantum many-body systems that allows efficient simulation of such systems on classical and near-term quantum computers.

The team’s deep multi-year collaboration with Dow has resulted in a number of scientific breakthroughs in high-accuracy simulations of material properties on quantum computers, which have landed both companies at the forefront of the materials design industry.

“Dow has enjoyed a great partnership with 1QBit’s Quantum Simulation Division, now Good Chemistry, for several years,” says David Parrillo, Vice President of Core R&D at Dow. “The partnership has enabled us to make significant progress in our journey towards the utilization of quantum computing technology for materials discovery and has led to the publication of several journal articles that explore the boundaries of quantum computing applications in materials discovery research.”

Industrial users such as Dow and DIC Corporation are already using the beta version of Good Chemistry’s quantum computing software development kit, and cloud-native developer platform, QEMIST Cloud.

“We are excited to officially announce the collaboration with Good Chemistry on the occasion of its launch,” explains Toshiro Ariga, Executive Officer and General Manager of DIC’s R&D Management Unit. “For chemical manufacturers, it is surely required to establish sustainable and clean material development methodology from a sustainable development goals perspective, as the application of quantum techniques with high-accuracy and high-throughput computations is one of its main solutions. We believe this collaboration will accelerate our novel material development.”

The company has recently opened up access to new Beta users beginning in March, 2022. “Our initial studies have shown very promising results; we’re excited to see what external researchers and developers can do with our platform now that we’re making it available for beta release,” says Good Chemistry’s Director of Research and Development, Dr. Takeshi Yamazaki. QEMIST Cloud will be available to the broader public later in 2022. Researchers, developers and organizations who want to be considered Beta users can now sign up at www.goodchemistry.com.

About Good Chemistry
Good Chemistry’s mission is to enable high-throughput high-accuracy computational chemistry calculations to accelerate new material designs. Their proprietary QEMIST Cloud, a cloud-based computational chemistry platform, provides the building blocks for computational chemistry developers to build chemical simulation applications and workflows, using emerging algorithms in quantum chemistry, machine learning, and quantum computing. Through simple, easy-to-use APIs, QEMIST Cloud provides access to computational chemistry tools with unprecedented scale enabled by the power of cloud. Headquartered in Vancouver, Canada, Good Chemistry’s interdisciplinary team comprises computational and quantum chemists, software developers, ML engineers and quantum computing scientists. For more information about Good Chemistry, visit goodchemistry.com.