Cambridge-headquartered quantum computing startup Riverlane has secured £15m in a Series B funding round.
Riverlane is developing a self-correcting operating system for quantum computers, which are prone to errors.
Steve Brierley, founder and CEO of Riverlane, said: “Armed with useful quantum computers, humans will enter the Quantum Age, where we go from slow trial and error to solve complex problems to an era of rapid design using quantum computers.”
Riverlane said the new capital will help it reach cash flow break-even and fund further work on its quantum operating system.
The Series B investment into Riverlane was led by Molten Ventures, with support from High-Performance Computing, Altair, Cambridge Innovation Capital, Amadeus Capital Partners and the National Security Strategic Investment Fund.
From its offices in Cambridge, Boston and San Francisco, the startup hires 100 engineers and scientists.
Riverlane is hoping before 2026 that its Decode software will become a chip-based product capable of data transfer of as much as 100TB a second.
Major companies already working with Riverlane include AstraZeneca, Rolls Royce and Johnson Matthey.
Amelia Armour, partner at Amadeus Capital, said: “We are proud to carry on our support for Riverlane, helping the company continue its vision, to design and engineer the complex chips that every quantum computer will need to control the qubits and simultaneously decode the errors that quantum computers produce.”
Amadeus Capital in February launched a £70m deep tech fund with Apex Ventures.
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