Europe: Riverlane raises $75 million in a Series C funding round

 Quantum engineering company Riverlane has raised $75 million in a Series C funding round led by Planet First Partners. This funding saw participation from ETF Partners, EDBI, and existing investors Cambridge Innovation Capital, Amadeus Capital Partners, the UK's National Security Strategic Investment Fund, and Altair. 

 Deltaflow includes the company’s proprietary QEC chips which, when placed inside a quantum computer, carry out quantum error correction by identifying qubit errors and sending corrective error instructions. Currently, the chip can support up to 1,000 qubits but Riverlane has said the funding raised in this most recent round will help it reach one million error-free quantum computer operations by 2026.

“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,” said Riverlane’s founder and CEO, Steve Brierley. “Our partners recognize 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.”