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London Tech Week

Riverlane secures £15M to simplify quantum computing

Riverlane
Photo Credit: Riverlane

Quantum computers of today’s time can only accomplish a few hundred quantum operations before failing. This is because the fragile nature of all sorts of qubits results in a high error rate. To be functional, quantum computers must be able to identify, diagnose, and fix quantum faults as they occur, allowing them to grow from a few hundred error-free quantum operations (QuOps) today to a trillion (TeraQuOps).

To address this gap, Riverlane, a quantum engineering company is developing hardware and software for qubit ‘Control’ and error ‘Decoding’. The words ‘control’ and ‘decode’ are essential components of Riverlane’s quantum operating system, Deltaflow.OS.  

The Cambridge-based company has raised £15M in a Series B funding led by Molten Ventures which saw participation from simulation, high-performance computing (HPC), and artificial intelligence leader Altair and returning investors Cambridge Innovation Capital (CIC), Amadeus Capital Partners and the National Security Strategic Investment Fund (NSSIF). 

As per the deal, James R. Scapa, Altair’s CEO and founder, will join the Riverlane board.

Development of Deltaflow.OS

Riverlane plans to utilise the funds to advance the development of Deltaflow.OS, its operating system for error-corrected quantum computing.

Deltaflow is already being developed by the UK-based startup in collaboration with some of the world’s leading quantum hardware companies, academic institutions, and government agencies.OS with several qubit types.

Riverlane founder and CEO Steve Brierley said: “Solving quantum error correction – one of the defining scientific challenges of our times – will enable quantum computers to accurately simulate the true complexity of nature. Armed with useful quantum computers, humans will enter the Quantum Age, where we go from slow trial and error to solve complex problems to an era of rapid design using quantum computers. We haven’t even begun to imagine the many ways such technology will positively transform our world.”

In November 2022, Riverlane released the world’s fastest Decode solution, allowing Deltaflow.OS to support more qubits than was previously conceivable.

The company claims that by the end of 2025, its Decode solution will have evolved into a chip-based ‘TeraQuOp’ decoder capable of processing up to 100TB of data per second – the equivalent of processing the amount of data that Netflix transmits globally. 

Riverlane is collaborating with one-third of the world’s quantum hardware manufacturers to solve these problems. Infleqtion (previously Cold Quanta), Qolab, Quera, Seec, Rigetti, and Universal Quantum are among them. 

Furthermore, the company collaborates with several of the world’s finest academic research institutions, including the University of Wisconsin, Duke University, the University of Oxford, and the University of Innsbruck.

Riverlane also works with industry giants such as AstraZeneca, Merck, Astex, Rolls Royce, and Johnson Matthey to gain a better understanding of the applications that use error-corrected quantum computers.

Founded in 2017 by Steve Brierley, Riverlane is a provider of software for quantum computers. It provides computing elements in the stack accessible like CPU, FPGAs and qubits, quantum error correction. It can be used in measurement strategies, noise models, and algorithms.

The company currently employs 100 engineers and scientists from offices in Cambridge, UK, Boston, and San Francisco. Riverlane competes with the likes of Aqintel, Fermioniq, BlueQubit, Qruise.

Stuart Chapman, chief portfolio officer at Molten Ventures, said: “Riverlane’s impressive progress in quantum computing, particularly in the crucial area of quantum error correction, has led to a significant rise in its valuation, even in a tough technology market. With Deltaflow.OS in development, Steve and the Riverlane team are ready to bring quantum computing to the commercial world. We’re thrilled to renew our support and have never felt more confident in Riverlane’s ability to drive quantum innovation and generate enduring value.” 

Amelia Armour, partner at Amadeus Capital Partners, said: “From the start, Amadeus Capital Partners identified Riverlane as a company with the long-term strategy and technical expertise to address the hardest problems in quantum computing. We are proud to carry on our support for Riverlane, helping the company continue its vision, to design and engineer the complex chips that every quantum computer will need to control the qubits and simultaneously decode the errors that quantum computers produce. As the company scales its business and technology, we look forward to being a part of Riverlane’s ongoing growth and future success.” 

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