Qindom, a Toronto, Canada-based quantum intelligence application startup, secured $2m in seed funding.
The round was led by an individual investor, who is one of the early LPs of Sequoia Capital.
Founded in January 2018 by Yao Wang, a serial entrepreneur who previously served for Alibaba Group, Qindom is a quantum intelligence (QI) research and application service provider. Its open platform and intellectual properties are designed for applying quantum computing to innovate fundamental algorithms and models for combinatorial optimization problems, and for realizing quantum intelligence in real-world industry practices.
Qindom works closely with research institutes in North America and forms strategic partnerships with multiple industry leaders in Canada, China, and United States. Clients and partners benefit from its RD&E services, cloud-based QI platform, and industry solutions.
The company’s QI application currently constitutes prediction in financial investment, route planning in logistics, recommendation in e-commerce, and customer churn prevention in telecommunication and insurance, etc. Current prototypes include a quantitative stock prediction and trading strategy system in FinTech, a customer churn and retention prediction and optimization solution for telecommunication, and a reserve requirement rate (RRR) optimization model for credit and risk control in banking.