Riverlane, a global leader in quantum error correction (QEC) technology, announced the successful raising of $75 million in Series C funding. The round was led by Planet First Partners, with participation from ETF Partners, EDBI, and existing investors including Cambridge Innovation Capital, Amadeus Capital Partners, NSSIF, and Altair. This funding will support Riverlane’s ambitious goal of achieving one million error-free quantum computer operations by 2026. (For information about Riverlane’s error correction roadmap, you can view the article posted on the Quantum Computing Report by GQI here.)
Driven by technical breakthroughs and improvements in qubit quality, the demand for QEC technology has surged. Riverlane’s Deltaflow™ product, which integrates QEC chips, hardware, and software, is designed to correct billions of errors per second, significantly enhancing the reliability of quantum computers. The company has close to a hundred experts working on this and aims to help the industry transition from current error-prone machines to fault-tolerant quantum computers, unlocking transformative applications in various industries.
Riverlane partners with leading quantum computing companies and national labs to advance QEC technology. The Series C funding will enable Riverlane to expand its operations and meet growing global demand.
For additional information, you can access a press release provided by Riverlane here.
August 6, 2024