Riverlane Raises £15 Million ($18.7M USD) in Series B Round
The Series B round was led by Molten Ventures with additional participation from Altair and returnee investors Cambridge Innovation Capital (CIC), Amadeus Capital Partners, and the National Security Strategic Investment Fund (NSSIF). This follows the £3.25 million ($4.4 million USD) round they received in June 2019 and the $20 million Serie 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 people in their technical team. They are developing a quantum operating system called Deltaflow.OS for error-corrected quantum computing and also developing flexible qubit control And error decoding hardware and software to implement error correction in Deltaflow.OS. Part of the funds will be used to develop a high-density, ultra-high-performance decoder chip by 2025 called TeraQuOp that will be able to process more than 100 TB of data per second. Riverlane already has several partnerships with leading universities, quantum hardware companies, and enterprise companies.
The company has also received several research grants and is involved in several consortia funded by Innovate UK, the UK’s National Quantum Computing Center and others. A press release provided by Riverlane announcing this new fundraiser can be accessed on their website Here.
April 27, 2023