Riverlane, which is based in Cambridge, has raised $75m (£59m) to fund development on its “groundbreaking” quantum error correction (QEC) technology.

While there is considerable excitement about the possibilities of quantum information and quantum computing applications – spurring billions of dollars of investment around the world – many technical hurdles have yet to be crossed. Most quantum computers are so prone to error that only the shortest, simplest algorithms can be run.

Riverlane believes it is developing the technology that could significantly expand the utility of quantum computers, and it hopes to achieve one million error-free quantum computer operations by 2026.

Its latest funding round was led by Planet First Partners, but it has already received investment from the National Security Strategic Investment Fund, the UK government’s corporate venturing arm designed to keep the UK at the forefront of technological developments.

Riverland said that demand for quantum error correction...