Draper Esprit has led a $20m series A round for Riverlane, which also attracted University of Cambridge and Cambridge Innovation Capital.
Riverlane, a UK-based quantum software developer spun out of University of Cambridge, collected $20m in a series A round today that included the institution.
Draper Esprit led the round, which also featured Cambridge Innovation Capital and Amadeus Capital Partners.
Riverlane is working on an operating system for quantum computing called Deltaflow. It is focused on uses in the pharmaceutical and materials industries.
The money will support the further development of Deltaflow and an expansion into the rest of Europe, the US and elsewhere.
Steve Brierley, founder and CEO of Riverlane, said: “For a quantum ecosystem to thrive, we urgently need an operating system. 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 am delighted to partner with Draper Esprit as we build the operating system for quantum computers and develop new collaborations with amazing quantum hardware companies.”
Riverlane previously collected $4.3m in seed funding led by Cambridge Innovation Capital, with participation from tech transfer office Cambridge Enterprise, in 2019.
