Riverlane’s $75m Series C raise will fast-track the quantum era

A groundbreaking global breakthrough for quantum computing has moved closer following a $75million Series C raise by Cambridge-based Riverlane.

The round – led by Planet First Partners, the European growth equity investment platform, with participation from leading Singapore-based global investor EDBI and environmental technologies fund ETF Partners – ensures that the goal of one million error-free quantum computer operations by 2026 is achievable.

The goal would be a significant milestone for quantum computing, lifting the industry beyond today’s small, error-prone machines to a new generation of ‘fault-tolerant’ quantum computers with integrated QEC technology. Today’s best quantum computers can perform only a few hundred quantum operations before failure. Demand for quantum error correction technology has grown dramatically over the past year, driven by a series of technical breakthroughs, improvements in qubit quality and a global shift towards building error-corrected quantum systems.

Riverlane has built the world’s largest dedicated quantum error correction team with close to 100 interdisciplinary experts working on its core product, Deltaflow. Applicable to quantum computers using all major qubit types, Deltaflow comprises proprietary QEC chips, hardware and software technologies working in unison to correct billions of errors per second.

Deltaflow will help this increase to trillions of error-free quantum operations. Achieving this scale will unlock transformative applications in industries such as pharmaceuticals, chemicals, material science and transportation.

Hermann Hauser, co-founder and venture partner, Amadeus Capital Partners, said of the development: “The creation of a common chip architecture solved the defining technology challenge of a new computing paradigm. Riverlane is doing the same in quantum computing. Its QEC chip and stack technology can accelerate the whole industry.”

The Series C funding will enable Riverlane to deliver its groundbreaking quantum error correction (QEC) roadmap. Published earlier this month, Riverlane’s roadmap lays out a development path to one million (Mega) error-free quantum computer operations (QuOps) as early as the end of 2026. The roadmap details a series of product releases, each incorporating significant scientific and technical breakthroughs towards this goal.

The ‘MegaQuOp’ milestone represents an important technological inflection point whereby a quantum computer can run operations that are impossible for a supercomputer to simulate. It is at this point that quantum computing will accelerate beyond the supercomputer threshold, ie what is achievable using traditional computing methodologies.

Nathan Medlock, managing partner at Planet First Partners, said: “Riverlane’s focus on quantum error correction, coupled with its collaboration with quantum computer makers worldwide, can accelerate the global market and enable new quantum computing applications that can substantially contribute to solving social and environmental issues.”

Steve Brierley, Riverlane’s founder and CEO, said: “Quantum error correction is the critical enabler for the industry’s next huge wave of progress, from today’s small error-prone machines to large and reliable quantum computers that will start a new age of human progress as significant as the digital revolution.

“Our partners recognise the value in working with Riverlane to deliver a solution that fits their needs – we are building the right product at the right time to seize this opportunity.”