Riverlane, a Cambridge, UK-based quantum error correction technology company, raised $75M in Series C funding.
The round was led by Planet First Partners, with participation from ETF Partners and EDBI. Existing investors Cambridge Innovation Capital (CIC), Amadeus Capital Partners, the UK’s National Security Strategic Investment Fund (NSSIF), and global leader in computational intelligence Altair also participated.
The company intends to use the funds to expand operations to meet global market demand for QEC technology, with the goal of achieving one million error-free quantum computer operations by 2026.
Led by CEO and Founder Steve Brierley, Riverlane is providing ‘Deltaflow’, the Quantum Error Correction (QEC) Stack, that solves the system errors’ problem in all quantum computers using every type of qubit. The stack’s core, which leverages a quantum error decoder empowered by a new class of patented QEC semiconductors designed and built by Riverlane, comprises proprietary QEC chips, hardware and software technologies working in unison to correct billions of errors per second.
The company partners with quantum computing companies and government bodies, including Rigetti Computing, Alice & Bob, QuEra Computing, Infleqtion, Atlantic Quantum and national labs such as Oakridge National Lab in the US and the UK’s National Quantum Computing Centre (NǪCC).
FinSMEs
07/08/2024