Quantum computing, though still largely theoretical, is attracting significant investment. Riverlane, a leader in quantum error correction technology, has raised $75 million to expand its R&D and operations. This funding comes amid growing interest from quantum computing developers who are striving to overcome high error rates in their systems.

Riverlane is developing technology that integrates with quantum computing chips to monitor, predict, and correct errors in quantum bits (qubits). "Even five years ago, I would have said that only one type of qubit would work," said Steve Brierley, Riverlane’s founder and CEO. "But now, all types are progressing at a Moore’s Law rate. We are on the brink of the first generation of error-corrected quantum computers, which will surpass the capabilities of any supercomputer."

Sources indicate that this funding round has increased Riverlane’s valuation to over $400 million. Notably, Riverlane is the first quantum computing startup in Europe to raise a Series C round, signaling the industry's shift towards more mature, growth-oriented funding.

New investors focused on sustainability, including Planet First Partners, ETF Partners, and Singapore’s EDBI, joined this round. Previous investors such as Cambridge Innovation Capital, Amadeus Capital Partners, the UK’s National Security Strategic Investment Fund, and Altair also participated. Founded by Brierley during his research fellowship at Cambridge, Riverlane has been at the forefront of addressing quantum error rates.

At Riverlane’s Cambridge office, the transition from concept to production is evident. The company has established an operations center to remotely connect with early quantum computers before integrating chips into physical systems.

Riverlane’s flagship product, Deltaflow, combines QEC chips, hardware, and software to correct billions of errors per second. This technology could significantly enhance current quantum computing efforts, which typically fail after a few hundred operations due to error rates. Deltaflow aims to enable millions, and eventually trillions, of operations, making quantum computers viable for complex problems in pharmaceuticals, transportation, chemistry, and potentially AI applications.

Riverlane’s vision, supported by over 100 engineers and specialists, is detailed in a quantum error correction (QEC) roadmap published in July. This roadmap outlines future product releases and advancements.