Riverlane, a leading UK quantum computing firm, has received a €2.1 million grant from Horizon Europe to advance its quantum error correction decoder, a vital component for achieving a fully functional quantum computer that surpasses the capabilities of current supercomputers. The grant was provided by the European Innovation Council (EIC) Transition grant, facilitated by the Horizon Europe Guarantee and supported by the UK’s tech department. It reaffirms Riverlane’s position as one of the UK’s best-funded quantum startups, especially following their successful €15 million Series B funding round the previous year. Steve Brierley, the founder and CEO of Riverlane, highlighted the importance of developing real-time quantum decoders, which are necessary for quantum computers to perform millions of reliable operations and solve complex problems unattainable for classic supercomputers. This grant will enable the company to push forward from theoretical research to practical application. The UK had briefly stepped away from Horizon Europe, a flagship EU program that invests in scientific and technological research, following Brexit, but rejoined in September 2023, allowing UK-based projects like Riverlane to benefit from its funding support.

Quantum Computing, Technology & Research Funding,United Kingdom, European Union

Quantum startup Riverlane awarded £2.1m Horizon Europe grant