Start-up behind quantum computing OS raises £15m
Posted on January 25, 2021 by Jonathan Symcox
The start-up behind an operating system for quantum computing has raised £15 million.
The Series A round into Cambridge-based Riverlane is intended to accelerate the firm’s mission to make quantum computers useful and expand to the US, throughout Europe and beyond.
European technology venture capital fund Draper Esprit led the round, supported by existing investors Cambridge Innovation Capital, Amadeus Capital Partners and the University of Cambridge.
Quantum computers can solve problems that are fundamentally impossible to solve on classical computers. The step–change in computing power is expected to have an enormous impact on a variety of industries.
Riverlane’s operating system Deltaflow aims to create a thriving quantum ecosystem, giving software developers access to all types of quantum computers at the right level and providing a shared language for applications and quantum hardware development.
One-fifth of the world’s quantum hardware manufacturers have signed up to use the Deltaflow OS.
“For a quantum ecosystem to thrive, we urgently need an operating system,” said founder and CEO Steve Brierley.
“An operating system makes quantum computers useful – it allows programs and applications to run on many different machines. Riverlane aims to make our operating system Deltaflow a global standard.
“I’m delighted to partner with Draper Esprit as we build the operating system for quantum computers and develop new collaborations with amazing quantum hardware companies.”
The new funding follows a £3.25m seed round completed in June 2019.
Stuart Chapman, director at Draper Esprit, said: “Draper Esprit has a heritage of supporting world-changing technologies as they scale.
“Riverlane is showing what is already possible as quantum emerges into the commercial world and we’re excited by the traction they already display.
“Hardware manufacturers are already seeing the benefit from Deltaflow as Riverlane commercialise their technology. We look forward to seeing where Riverlane can go next.”
Elaine Loukes, Investment Director at Cambridge Enterprise, said: “We are delighted to continue our support for the Riverlane team.
“They have made incredible progress since our first investment and through their exceptional innovation, we believe they will be a key player in the emerging quantum computing world.”