UK – Withers Advises Cambridge Innovation Capital and Amadeus Capital On Riverlane’s $75m Series C fundraising.
International law firm Withers provided advice to both Cambridge Innovation Capital (CIC) and Amadeus Capital Partners on quantum computing leader Riverlane’s recent $75 million funding round.
Riverlane’s Series C fundraising marks a milestone for the European quantum computing sector. The round, led by new backer Planet First Partners, a growth firm specialising in sustainable investments, and with the participation of previous investors CIC and Amadeus Capital, among others. Riverlane plans to allocate a significant portion of the investment towards product development, potentially expanding its international presence.
Susanna Stanfield, Withers tech partner and Head of the firm’s Cambridge office, comments: ‘Riverlane is at the forefront of addressing one of the most critical challenges in quantum computing. Their work is transformative and it’s exciting to see a European company leading the way with a first series C raise in this sector.’
Riverlane aims to rectify the numerous data errors hindering the practical scale of current quantum computers. Through its pioneering quantum decoder chip, the company is at the forefront of addressing this challenge. Quantum computing holds the potential for transformative advancements in areas such as drug development and climate change mitigation, with Riverlane’s technology playing a pivotal role in driving this progress forward.
Susanna adds: ‘This milestone not only underscores the potential of quantum technology but also highlights Europe’s growing influence in the quantum computing sector and we’re proud to have represented CIC and Amadeus Capital in this pivotal investment.’
