Draper Esprit leads $20 million Series A in quantum computing company Riverlane

Draper Esprit, a leading venture capital firm investing in and developing high growth digital technology businesses, today announces that it has led a $20m Series A investment round in Riverlane, the ground-breaking quantum computing software specialist. Riverlane, spun out of Cambridge University, develops software that transforms quantum computers from experimental technology into commercial products.

Draper Esprit was supported in the round by existing investors Cambridge Innovation Capital, Amadeus Capital Partners, and the University of Cambridge. Riverlane will use the funds to further accelerate their mission to build Deltaflow, its high-performance operating system for quantum computers, and to expand their operation outside of the UK.

Quantum computers are designed to solve problems that are not possible to solve on classical computers. This step change in computing power will impact a variety of industries – from pharmaceuticals to logistics – and as the quantum industry develops it’s vital that software is built on a solid foundation. Deltaflow, the quantum operating system developed by Riverlane, creates a thriving quantum ecosystem, offering software developers access to a range of quantum computers to best meet their needs. Providing a shared language for applications and quantum hardware development, Deltaflow is the infrastructure for great engineering and collaboration across the industry.

This latest investment follows a number of recently announced new and follow on investments from Draper Esprit including Graphcore, CoachHub, Endomag and Agora

Commenting on the round, 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 aim to make our operating system Deltaflow a global standard.

“I’m delighted to partner with Draper Esprit as we build the operating system for quantum computers and develop new collaborations with amazing quantum hardware companies.”

Commenting on the round, Stuart Chapman, Director at Draper Esprit said:

“Draper Esprit has a heritage of supporting world-changing technologies as they scale. Riverlane is showing what is already possible as quantum emerges into the commercial world and we’re excited by the traction they already show. It is clear that hardware manufacturers are already benefiting from Deltaflow as they commercialise their technology.  We look forward to seeing where Riverlane can go next.”