The company has been named a finalist in the Canada-UK Power Forward Challenge to build smart energy systems.
"Canada and the United Kingdom are investing in better electricity systems. This work will build cleaner, safer, better-connected grids that will also create well-paying jobs for middle-class Canadians. I want to congratulate the Challenge finalists who are growing the economy and creating a cleaner energy future for us all."
Floreat has completed an investment in fintech firm CreditEnable via its Principal Investment Fund I Limited.
"Millions of creditworthy SME firms in developing countries are underserved by the formal financial sector. This represents a USD4.5 trillion global SME credit gap in developing economies (with India representing USD221 billion)"
Cambridge Innovation Capital and Amadeus Capital Partners led the seed round to support quantum software development.
"This seed funding allows us to accelerate our work at a critical time in the development of quantum computers. Computers are central to the design of many new products, but when we try to model systems at the level of individual atoms, the rules that govern their behaviour are fundamentally different. Even huge supercomputers are limited to approximations. As a result the design of new drugs and materials remains primarily a laboratory, rather than a computational, exercise. Riverlane’s software aims to unleash the huge potential of quantum computers."