Riverlane raises $75M Series C for quantum error correction technology

Quantum error correction tech company  Riverlane has raised $75 million in Series C funding, bringing their funding to over $122 million.

Planet First Partners led the round, with participation from ETF Partners, EDBI, Cambridge Innovation Capital, Amadeus Capital Partners, the UK's National Security Strategic Investment Fund (NSSIF), and Altair.

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, the quantum computing industry is now looking beyond today’s small, error-prone machines to a new generation of ‘fault-tolerant’ quantum computers with integrated QEC technology.

Riverlane has built the world’s largest dedicated quantum error correction team with close to a hundred interdisciplinary experts working on its core product, Deltaflow ™.  Deltaflow comprises proprietary QEC chips, hardware and software technologies working in unison to correct billions of errors per second.

 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.

Riverlane’s Founder & CEO, Steve Brierley, 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.”

Nathan Medlock, Managing Partner at Planet First Partners, said: 

“We invest in companies with the potential to have a transformative impact on society and the environment.

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.” 

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 toward this goal.

Riverlane partners with leading quantum computing companies and government bodies, including Rigetti Computing, Alice & Bob, QuEra Computing, Infleqtion, Atlantic Quantum and national labs such as Oakridge National Lab in the US and the UK’s National Quantum Computing Centre (NǪCC).

With this investment, Riverlane plans to expand its operations to meet growing demand from other hardware companies and governments worldwide.

Riverlane’s mission is to make quantum computing useful, sooner. This will transform the future of computing and start an era of human progress as significant as the digital and industrial revolutions.

Achieving this requires over a 10,000x reduction in the system errors that quickly overwhelm all quantum computers today. Riverlane is building ‘Deltaflow’, the Quantum Error Correction (QEC) Stack, that solves this problem in all quantum computers using every type of qubit.

At Deltaflow’s core is the world’s most powerful quantum error decoder. Deltaflow is powered by a new class of patented QEC semiconductors designed and built by Riverlane.

The funding will enable Riverlane to expand operations to meet surging global market demand for QEC technology, to achieve one million error-free quantum computer operations by 2026.

Lead image: Riverlane. Photo: uncredited.