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Riverlane Raises $75M in Series C at $400M Valuation to Advance Quantum Error Correction Technology

Aug 6, 2024, 07:18 AM

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.