Tuesday, 6 August 2024, Bengaluru, India
Riverlane, a British quantum error correction technology company, has raised $75 million in a Series C funding round to support its quantum error correction agenda. The funding will help Riverlane to capitalize on the growing global demand for QEC technology and deliver one million flawless quantum computing operations by 2026.
Image Source: Tech EU
Technical Breakthroughs
Quantum error correction is essential for moving from today’s small, noisy quantum devices to large-scale, fault-tolerant quantum computers. It is the next advancement in society, comparable to the advancement of technology. These have been boosted by the improvements in the quality of qubits and by the trend toward the construction of error-corrected quantum systems that require the deployment of QEC technology.
The Founder and CEO of Riverlane, Steve Brierley said, “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. Our partners recognise 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.“
Quote Source: Tech EU
Ambitious Goal of Riverlane
Riverlane has the largest quantum error correction team with nearly a hundred professionals from different fields. Its main product is Deltaflow™ which comprises QEC chips, hardware, and software exclusive to the company. It fixes billions of errors per second with various forms of qubits. Riverlane plans to take quantum computing from hundreds to millions and trillions of pure quantum operations.
The Managing Partner at Planet First Partners, Nathan Medlock said, “We invest in companies with the potential to have a transformative impact on society and the environment. Riverlane’s focus on quantum error correction, coupled with its collaboration with quantum computer makers worldwide, can accelerate the global market and enable new quantum computing applications that can substantially contribute to solving social and environmental issues.”
Quote Source: Tech EU
Riverlane’s Work in the Quantum Communication
Riverlane is creating the Deltaflow™ Quantum Error Correction Stack (QEC) to lower the logical error rates in quantum computers. Such a stack allows quantum machines to scale up and solve problems already out of reach for classical supercomputers. Deltaflow™ utilizes proprietary QEC chips, hard/soft, which can correct billions of errors per second in any qubit type.
Riverlane regularly works on the investigation and creation of new quantum algorithms. These algorithms use characteristics of quantum structures to solve computationally intense problems faster than traditional methods. Quantum algorithms have the potential for disruption in cryptography, optimization, and simulation.
As you can see, although Riverlane mainly focuses on QEC, they do investigate quantum communication. Effective quantum communication ensures the exchange of information without eavesdropping. Riverlane researches QKD and quantum networks to further secure data communication. Working with classic computing specialists, Riverlane develops combined systems of quantum and classic computing. These systems reflect the best in both worlds for the applications of these systems. The
quantum-classical interface is thereby closed through hybrid techniques that can incorporate both systems.
Industry Momentum
Sustainability venture capital investors Planet First Partners, ETF Partners, and EDBI invested in the Series C round. Current shareholders, such as Cambridge Innovation Capital (CIC) and Amadeus Capital Partners, also invested. The industry is quickly shifting towards the development of FT quantum computers and Riverlane’s funding is a testament to the necessity and opportunity of this field.
Conclusion
Riverlane’s investment means that it is at the cutting edge of quantum error correction and is now set to lead the advancement of quantum computing toward far greater reliability and scalability. Riverlane has interests in error correction, quantum algorithms, communication, and hybrid systems. Its mission is to advance quantum computing and its applications to science and other societal problems.
