Riverlane raises $75m Series C

Congratulations to the team at Riverlane on the announcement of their $75m Series C raise.

The new funding reportedly makes Riverlane the first quantum computing start up in Europe to raise a Series C, according to TechCrunch.

Quantum computers are prone to errors, making around 1 error per 1000 operations.  Cambridge-headquartered Riverlane is addressing this challenge with Deltaflow, their quantum error correction stack. Deltaflow helps quantum computers accelerate their path to performance. The funding will enable Riverlane to expand operations for their QEC technology, with the goal of achieving 1 million error-free quantum computer operations by 2026.

The funding was led by Planet First Partners with additional funding from Singapore-based EDBI and environmental technologies fund ETF Partners.