Riverlane, a Cambridge, UK-based quantum computing software developer, raised €3.7m in seed funding.
The round was led by Cambridge Innovation Capital and Amadeus Capital Partners, with participation from Cambridge Enterprise.
The company intends to use the funds to demonstrate its technology across a range of quantum computing hardware platforms, focused on early adopters in materials design and drug discovery, and expand its team of quantum software researchers and computational physicists.
Founded by Dr Steve Brierley, Senior Research Fellow in Applied Mathematics at the University of Cambridge, Riverlane is building a simulation engine for microscopic systems to replace expensive laboratory tests with computer simulation. Its software leverages the capabilities of the quantum computer, which operates using the principles of quantum mechanics.
In the same way that graphics processing units (GPUs) accelerate machine learning workloads, Riverlane uses quantum computers to accelerate the simulation of quantum systems.
The company is working with leading academics and companies on critical early use cases for its software, such as developing new battery materials and drug treatments.