TLDR:
- Riverlane secures $75 million in Series C funding for quantum computing.
- This investment continues a strong year for quantum funding, with startups raising nearly $1.4 billion so far.
Startup Riverlane, specializing in quantum error correction technology, raised $75 million in a Series C funding round led by Planet First Partners. The funding round also included participation from ETF Partners, EDBI, Cambridge Innovation Capital, Amadeus Capital Partners, the National Security Strategic Investment Fund, and Altair. The company’s technology helps quantum computers avoid errors, enabling them to perform reliably for extensive periods.
Quantum computing startups have experienced a surge in investments this year, with the total funding reaching nearly $1.4 billion in over two dozen rounds. This amount is double what was raised in the previous year, with significant contributions from rounds such as PsiQuantum’s $620 million raise and Quantinuum’s $300 million fundraise. This influx of funding highlights the growing interest and potential in the quantum computing industry.
Overall, the quantum computing sector is attracting substantial investments, indicating investor confidence in the future potential of quantum technologies. Riverlane’s successful funding round adds to the momentum of a strong year for quantum funding, showcasing the industry’s potential for significant growth and innovation.
