Buzzacott advises Planet First Partners on their investment in Riverlane Group
12 Sep 2024 • Corporate Finance • Technology and Media • Transaction Services
The Buzzacott Transaction Services team is delighted to have assisted Planet First with its investment into Riverlane. Riverlane has raised $75m in Series C funding to deliver its groundbreaking quantum error correction (QEC) roadmap.
Overview of deal
Riverlane is the global leader in quantum error correction technology. The funding will enable Riverlane to expand operations to meet surging global market demand for QEC technology, with the goal of achieving one million error-free quantum computer operations by 2026.
Who are the firms involved?
The round was led by Planet First Partners, the European growth equity sustainable investment platform, with participation from sustainability venture capital investors ETF Partners and Singapore-based global investor, EDBI. Existing investors Cambridge Innovation Capital (CIC), Amadeus Capital Partners, the UK's National Security Strategic Investment Fund (NSSIF), and global leader in computational intelligence Altair also participated in the Series C round.
Buzzacott provided financial and tax due diligence services to Planet First Partners.