Cambridge, UK: Riverlane is delighted to announce that it has been awarded 'Deep Tech Innovation’ company of the year at the Business Weekly Awards. The award serves as a testament to Riverlane's contributions to the field of quantum computing, and exceptional growth since its founding in 2016.
The Business Weekly Awards attracts many entries from across the East of England, a region known for producing some of the most successful technology companies. This area - often referred to as 'Silicon Fen' or the 'Cambridge Cluster’ - is one of the most important technology hubs in the world. It is home to global success stories such as the LSE-listed cyber-defence company Darktrace, and chip designer Arm, which was valued at £43.6bn at the opening of its recent IPO.
Operating in a market forecasted to create up to $850 billion in economic value in the next 15-30 years, this year, Riverlane completed its £15m Series B fundraising in a round led by Molten Ventures. The company also recently announced the development of the world’s first dedicated decoder chip, marking a significant milestone in its ongoing mission to build the quantum error correction stack that every quantum computer will need to achieve useful scale.
Commenting on the win, Steve Brierley, Founder & CEO of Riverlane, said: “We are honoured to receive this prestigious award from Business Weekly. The ‘DeepTech Innovation’ award is a testament to the dedication and hard work of everyone at Riverlane and our progress towards our primary goal: making quantum computing useful, sooner. At the same time, Cambridge is a hub of innovation, and we appreciate the opportunities this has granted us to enable our success and grow our business in the region and on a global stage”.