(UK.TechNews) Riverlane, a spin-out company from the University of Cambridge that develops software and algorithms for quantum computers, has recently raised $20 million (approx £14.6 million) funding in Series A round.
The round was led by European technology venture capital fund Draper Esprit and supported by existing investors, Cambridge Innovation Capital, Amadeus Capital Partners, and the University of Cambridge.
The funding will be used to build its operating system for quantum computers – Deltaflow and expand internationally to the US, Europe, and beyond. This new funding follows a £3.25 million seed round completed by the company in June 2019.
Deltaflow creates a thriving quantum ecosystem, giving software developers access to all types of quantum computers at the right level. It provides a shared language for applications and quantum hardware development.