Riverlane, a leading quantum computing company, has recently secured a significant amount of funding to expand its operations and meet the growing demand for quantum error correction (QEC) technology. The goal is to achieve one million error-free quantum computer operations by 2026, a milestone that could revolutionize the industry and unlock transformative applications in various sectors.
The funding round was led by Planet First Partners, a European growth equity sustainable investment platform, with participation from sustainability venture capital investors ETF Partners and Singapore-based global investor, EDBI. Existing investors such as Cambridge Innovation Capital (CIC), Amadeus Capital Partners, the UK’s National Security Strategic Investment Fund (NSSIF), and HPC leader Altair also joined in the round. This strong support from a diverse group of investors underscores the importance and potential of Riverlane’s QEC technology.
The demand for quantum error correction technology has surged in recent years, driven by technical breakthroughs, improvements in qubit quality, and a global shift towards building error-corrected quantum systems. This shift marks a transition from small, error-prone quantum machines to more reliable and efficient quantum computers with integrated QEC technology. Riverlane is at the forefront of this movement, with a dedicated team of nearly a hundred interdisciplinary experts working on its core product, Deltaflow.
Deltaflow is a comprehensive solution that includes proprietary QEC chips, hardware, and software technologies designed to correct billions of errors per second. While current quantum computers can only perform a few hundred quantum operations before failure, Deltaflow aims to increase this to millions and eventually trillions of error-free quantum operations. This scalability is crucial for unlocking transformative applications in industries such as pharmaceuticals, chemicals, material science, and transportation.
Steve Brierley, Founder & CEO of Riverlane, emphasized the importance of quantum error correction in driving the industry’s progress towards large and reliable quantum computers. He highlighted the value of working with partners to deliver a solution that meets their needs and seizes the opportunity presented by the quantum computing revolution. Riverlane’s innovative approach and commitment to advancing QEC technology have garnered recognition and support from investors and industry experts alike.
The Series C funding will enable Riverlane to execute its groundbreaking QEC roadmap, which outlines a development path to achieving one million error-free quantum computer operations by 2026. This roadmap includes a series of product releases with significant scientific and technical breakthroughs aimed at reaching the ‚MegaQuOp‘ milestone. This milestone represents a technological inflection point where quantum computers can perform operations that are beyond the capabilities of supercomputers, opening up new possibilities for simulation and design in various fields.
Riverlane’s partnerships with leading quantum computing companies and government bodies, along with its plans to expand operations globally, position the company as a key player in the quantum computing ecosystem. With the support of investors and industry collaborators, Riverlane is poised to drive innovation and accelerate the adoption of QEC technology, paving the way for a new era of quantum computing advancements.