Riverlane, the quantum error correction specialist, has raised $75 million in Series C funding to support its quantum error correction (QEC) roadmap.
The funding will enable Riverlane to develop QEC technology with the goal of achieving one million error-free quantum computer operations by 2026.
The round was led by Planet First Partners, with participation from VC ETF Partners and Singapore-based EDBI. Existing investors Cambridge Innovation Capital (CIC), Amadeus Capital Partners, the UK’s National Security Strategic Investment Fund (NSSIF), and Altair also participated.
‘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,” says Riverlane CEO Steve Brierley.
Riverlane’s core product is Deltaflow which is applicable to quantum computers using all major qubit types. Deltaflow comprises proprietary QEC chips, hardware and software.
Today’s best quantum computers can perform only a few hundred quantum operations before failure. Deltaflow will help this increase to millions and, ultimately, trillions of error-free quantum operations. Achieving this scale will unlock transformative applications in industries such as pharmaceuticals, chemicals, material science and transportation.
“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.,” says Hermann Hauser.
Riverlane’s roadmap lays out a development path to one million error-free quantum computer operations (QuOps) by the end of 2026. The ‘MegaQuOp’ milestone represents an inflection point whereby a quantum computer can run operations that are impossible for a supercomputer to simulate.
The expansion of Riverlane’s operations will introduce various new opportunities across the company, such as hardware and software engineering, quantum scientist positions and operations roles.
Riverlane’s current vacancies can be found here.
