Riverlane Raises $20m in Series A funding to build Deltaflow

Riverlane developing operating system for machines specialising in codebreaking

Hey Everyone,

After a pause in interesting Quantum News, there’s a lot I want to cover now, but priorities goes to breaking news. So this is going to be a short one.

Riverlane reports that it has raised $20m in Series A funding to build Deltaflow, its operating system for quantum computers. Over the past year, we have signed up 20% of the world’s quantum hardware manufacturers to use Deltaflow and will use the funding to expand internationally to the US, Europe and beyond.

I’ll admit that I like Riverlane, both in their branding and what they are trying to do. They are in the UK so this is actually a £15 million in Series B funding. This substantially increases Riverlane’s enterprise valuation and is expected to see the company through to cash flow break-even, allowing us to continue driving forward our mission to unlock quantum computing’s potential. 

The round was led by Molten Ventures and included 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).

This means they have raised over $24 million to date. This actually has bigger implications that appears on the surface of the PR. According to the Telegraph, a government fund with close links to GCHQ has taken a stake in a Cambridge quantum computing start-up, as a global technological arms race gathers pace.

Let’s dive a bit deeper, shall we?