Riverlane raises £15m in Series B funding led by Molten Ventures to advance quantum error correction.
Molten Ventures led the Series B round with participation from Altair and existing investors to accelerate the development of Deltaflow.OS.
Riverlane develops quantum error correction technology designed to eliminate system errors in quantum computers. The firm builds scalable decoder solutions compatible with all major qubit types.
Riverlane has secured £15m in a Series B financing round led by Molten Ventures. The funding also drew participation from Altair alongside returning backers Cambridge Innovation Capital, Amadeus Capital Partners, and the National Security Strategic Investment Fund. The capital injection is set to support the development of the company operating system, Deltaflow.OS, and aims to sustain operations until cash flow break-even. As part of the arrangement, Altair chief executive James R. Scapa will join the board.
From the founder
"Solving quantum error correction – one of the defining scientific challenges of our times – will enable quantum computers to accurately simulate the true complexity of nature. Armed with useful quantum computers, humans will enter the Quantum Age, where we go from slow trial and error to solve complex problems to an era of rapid design using quantum computers. We haven’t even begun to imagine the many ways such technology will positively transform our world."
Steve Brierley
Founder & CEO at Riverlane
Investor perspective
"Riverlane’s impressive progress in quantum computing, particularly in the crucial area of quantum error correction, has led to a significant rise in its valuation, even in a tough technology market. With Deltaflow.OS in development, Steve and the Riverlane team are ready to bring quantum computing to the commercial world. We’re thrilled to renew our support and have never felt more confident in Riverlane’s ability to drive quantum innovation and generate enduring value."
Stuart Chapman
chief portfolio officer, Molten Ventures
Use of funds
- 01Continue product development
Investors
Stuart Chapman
Molten Ventures
Altair
Cambridge Innovation Capital
Amelia Armour
Amadeus Capital Partners
National Security Strategic Investment Fund
Categories
About the company
Riverlane
Riverlane builds quantum error correction technology to remove hardware errors.