British quantum computing software startup Riverlane lands £3.25 million

Cambridge-based quantum computing software developer Riverlane has secured £3.2 million in a funding round led by Cambridge Innovation Capital and Amadeus Capital Partners, with the participation of Cambridge Enterprise. The company plans to use the money to hire more quantum software researchers and computational physicists.

Riverlane applies quantum computing to the simulation of microscopic systems. The startup says that this kind of simulation can replace expensive laboratory tests. Riverlane also mentioned that it's working with a few academics and companies on early use cases for the software, including developing new battery materials and drug treatments.