The Series B round was led by Molten Ventures with additional participation from Altair and returning investors Cambridge Innovation Capital (CIC), Amadeus Capital Partners and the National Security Strategic Investment Fund (NSSIF). This follows a £3.25 million ($4.4M USD) round they received in June 2019 and a $20 million Series A round they received in January 2021.
Riverlane is a quantum software and middleware provider headquartered in Cambridge, UK formed in 2016 with over 100 on their technical team. They are developing a quantum operating system call Deltaflow.OS for error corrected quantum computing and are also developing flexible qubit control and error decoding hardware and software for implementing the error correction within Deltaflow.OS. Part of the funding will be used to develop a high density, very high performance decoder chip by 2025 called TeraQuOp that will be able to process over 100 TB of data per second. Riverlane already has several partnerships in place with universities, quantum hardware companies, and leading enterprise companies.
The company has also received several research grants and are involved in several consortia funded by Innovate UK, the UK’s National Quantum Computing Centre, and others. A press release provided by Riverlane announcing this new fundraising can be accessed on their website here.
April 27, 2023