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UK-based quantum computing company Riverlane has raised $75 million in Series C funding to advance its quantum error correction technology. The funding round was led by Planet First Partners, with participation from ETF Partners, EDBI, CIC, Amadeus Capital, NSSIF, and Altair. Riverlane, headquartered in Cambridge, aims to develop its next-generation chip and achieve 1 million error-free quantum operations by 2026. The company, which also makes semiconductors, is valued at $400 million following this latest funding round. The investment is expected to support further discoveries in pharmaceuticals, chemicals, material science, and transportation.
World leading UK based quantum computing business @Riverlane_io is receiving further backing by investors & government. The landmark investment in quantum error correction tech will enable further discoveries in pharmaceuticals, chemicals, material science, & transportation https://t.co/jTh67KrIu9
Startup @RiverLane_io helped continue what has been a strong year for venture funding in the quantum computing industry — locking up a fresh $75 million Series C to solve errors that plague the sector. https://t.co/YxIL0s8eN6
💻📊 Riverlane (@RiverLane_io) snaps $75M for world’s largest quantum error correction technology, led by Planet First Partners (@Planet__First). https://t.co/3hvy9Vn3gp #tech #funding #news #quantumcomputing #VC