Riverlane raises £3.3m in seed funding from Cambridge Innovation Capital, Amadeus Capital Partners, and Cambridge Enterprise to expand its quantum software research.
Cambridge Innovation Capital and Amadeus Capital Partners led the seed round to support quantum software development.
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 £3.3m in a seed round led by Cambridge Innovation Capital and Amadeus Capital Partners, with participation from Cambridge Enterprise. The company intends to direct the capital towards demonstrating its technology across various quantum hardware platforms, with an emphasis on materials design and drug discovery, while also expanding its team of researchers and physicists.
Operating out of Cambridge, the firm builds simulation engines designed to supplant costly physical laboratory tests with computer simulations. By leveraging quantum principles, the software accelerates the modelling of complex chemical and biological systems at the atomic level.
From the founder
"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."
Steve Brierley
Founder & CEO at Riverlane
Investor perspective
"Riverlane is changing the way we think about computation at the most fundamental level."
Andrew Williamson
Managing Partner, Cambridge Innovation Capital
Use of funds
- 01Grow the team
- 02Continue product development
Investors
Andrew Williamson
Cambridge Innovation Capital
Amelia Armour
Amadeus Capital Partners
Cambridge Enterprise
Categories
About the company
Riverlane
Riverlane builds quantum error correction technology to remove hardware errors.