Draper Esprit Leads $20m Funding Round in Quantum Computing Firm
(SiliconRepublic) Venture capital firm Draper Esprit has led a $20m Series A funding round in Riverlane, a quantum computing spin-out from the University of Cambridge.
Existing investors also joined the latest funding round, following a £3.25m seed round completed in June 2019. These include Cambridge Innovation Capital, University of Cambridge and Hermann Hauser’s Amadeus Capital Partners.
Amelia Armour, partner at Amadeus Capital Partners, said what makes the Deltaflow operating system exciting is that it is portable across all the different types of hardware. “We are delighted to support Riverlane again as they expand their hardware-agnostic platform and create an ecosystem for application developers,” she said.
Stuart Chapman, director at Draper Esprit, added that Riverlane is showing what is already possible as quantum emerges into the commercial world. “Hardware manufacturers are already seeing the benefit from Deltaflow as Riverlane commercialise their technology. We look forward to seeing where Riverlane can go next,” he said.
Despite the challenges of the Covid-19 pandemic, Draper Esprit’s portfolio value was £702m as of 30 September 2020, compared with £703m at the end of March 2020.