This Company Makes Quantum Computing Actually Useful
Quantum computing represents a monumental shift in the computational landscape, offering the potential to solve complex problems that are currently beyond the reach of classical computers.
The principle behind quantum computing relies on the principles of quantum mechanics, utilizing quantum bits or "qubits" that can represent and store information in a fundamentally different way than the bits used in traditional computing. This allows quantum computers to perform many calculations simultaneously, making them exceptionally powerful for certain types of computation, such as cryptography, drug discovery, optimization problems, and more.
The promise of quantum computing lies in its ability to process and analyze vast amounts of data at speeds unattainable by current technology, potentially revolutionizing fields like pharmaceuticals, where it could accelerate the development of new drugs, or in cryptography, where it could break or secure communication systems.
However, despite its potential, we are still in the early stages of quantum computing technology. Several challenges remain, including creating stable qubits that can operate without error for extended periods, scaling up the number of qubits to a level that can outperform classical computers on practical tasks, and developing algorithms that can fully utilize the unique properties of quantum computing.
Moreover, the practical application and integration of quantum computing into existing technological infrastructures will require substantial advancements in quantum error correction, software development, and hardware design.
Making Qauntum Computing a Real Thing
In April 2023, quantum engineering company Riverlane raised £15 million (~US$18.7 million) in a Series B funding.
The round was led by Molten Ventures and included participation from simulation, high-performance computing (HPC), and artificial intelligence leader Altair and returning investors Cambridge Innovation Capital, Amadeus Capital Partners and the National Security Strategic Investment Fund.
The new investment substantially increases Riverlane’s enterprise valuation and is expected to see the company through to cash flow break-even.
The additional capital will be used to accelerate the development of Riverlane’s operating system for error-corrected quantum computing, Deltaflow.OS.
Error correction is the defining technical challenge for quantum computing to achieve the scale and reliability to deliver its transformative potential. Riverlane is already partnering with many of the world’s leading quantum hardware companies, university labs and government agencies to build and implement Deltaflow.OS with various qubit types.
The quantum computing industry is forecast to create up to $850 billion in economic value in the next 15-30 years. To deliver transformational new applications in fields such as drug design, material science, aerospace and climate change, quantum computers will need to reliably perform a trillion high-speed operations without disruption.
However, today’s quantum computers can still only perform a maximum of a few hundred quantum operations before failure. This is due to the high error rate caused by the delicate nature of all types of qubits.
For quantum computers to become useful, it is critical to find a way to detect, diagnose, and correct quantum errors as they occur, so they can be scaled from a few hundred error-free quantum operations (QuOps) today to a trillion (TeraQuOps). This is the number of operations required to execute most known quantum algorithms.
To address the TeraQuOp challenge, Riverlane is designing the qubit ‘Control’ and error ‘Decoding’ hardware and software. ‘Control’ and ‘Decode’ are the key components of Riverlane’s quantum operating system, Deltaflow.OS.
In November 2022, Riverlane demonstrated the world’s fastest Decode solution that allows Deltaflow.OS to support far larger numbers of qubits than previously possible.
By the end of 2025, Riverlane plans to develop its Decode solution into a chip-based ‘TeraQuOp’ decoder that can process up to 100TB of data per second – the equivalent of processing as much data as Netflix streams globally.
To solve this problem, the company must design and engineer the dedicated chips that every quantum computer will need.
Riverlane founder and CEO Steve Brierley said: “Solving quantum error correction – one of the defining scientific challenges of our times – will enable quantum computers to accurately simulate the true complexity of nature. Armed with useful quantum computers, humans will enter the Quantum Age, where we go from slow trial and error to solve complex problems to an era of rapid design using quantum computers. We haven’t even begun to imagine the many ways such technology will positively transform our world.”
To tackle these challenges, Riverlane is partnering with some of the world’s leading academic labs including the University of Wisconsin, Duke University, University of Oxford and University of Innsbruck, and over a third of the world’s quantum hardware companies, such as Infleqtion (formerly Cold Quanta), Qolab, Quera, Seeqc, Rigetti and Universal Quantum.
To gain a better understanding of the transformative industry applications using error-corrected quantum computers, Riverlane also partners with enterprise leaders like AstraZeneca, Merck, Astex, Rolls Royce and Johnson Matthey.
With offices in Cambridge, UK, Boston and San Francisco, the Riverlane team has more than doubled over the past year to 100 engineers and scientists.
READ MORE: 12 Companies Using Quantum Theory To Accelerate Drug Discovery
Topic: AI in Bio
