Riverlane raises $75m to develop quantum error correction technology

The company said the funding will enable it to expand operations to meet surging global market demand for QEC technology, with a goal of achieving one million error-free quantum computer operations by 2026.

The round was led by Planet First Partners, with participation from sustainability venture capital investors ETF Partners and Singapore-based EDBI. Existing investors Cambridge Innovation Capital (CIC), Amadeus Capital Partners, the UK's National Security Strategic Investment Fund (NSSIF), and Altair also participated in the Series C round.

In a statement, Riverlane’s founder and 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.”