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Spanish startup Multiverse Computing snaps €25M for developments in quantum software and AI

Multiverse Computing team
Picture credits: Multiverse Computing

Quantum computers are designed to outperform classical computers by running quantum algorithms to solve previously intractable problems when the technology matures. McKinsey projects the technology could account for over $1.3 trillion in value in the next decade. Quantum-inspired algorithms are the most efficient algorithms that can currently run in ordinary computers today, outperforming any other solutions in industries such as energy, manufacturing, finance, defense, health, AI, and more.

Raises €25M funding

Multiverse Computing, a Spanish value-based quantum and quantum-inspired computing solution, has snapped €25 million in an oversubscribed investment round. It was led by Spanish VC Columbus Venture Partners through their SCR, with contributions from Paris-headquartered Quantonation Ventures and new investors, including the European Innovation Council Fund (backed Dronamics and Infinite Roots), Redstone Quantum Fund, and Indi Partners, among other prominent backers. 

The company plans to utilise the new funding to accelerate the development of its proprietary quantum and quantum-inspired algorithms and software, including its flagship product Singularity and recently released LLM compressor CompactifAI.

Also, Multiverse Computing plans to use the funding to support its global expansion, including the U.S.A. Multiverse will join industry partners, academic institutions and government entities in bringing quantum and quantum-inspired utility to new markets and industries.

Develops quantum and quantum-inspired software

Founded by Alfonso Rubio Manzanares, Enrique Lizaso, Román Orús, and Samuel Mugel in 2019, Multiverse Computing applies quantum and quantum-inspired solutions to address complex challenges in finance, energy, manufacturing, logistics, space, life sciences, healthcare, and defence. Leveraging expertise in quantum and quantum-inspired algorithms, the company maximises results from both current quantum devices and classical high-performance computers. 

Headquartered in Spain, Multiverse Computing has offices in Canada, France, Germany, UK and Italy.

Notable quantum offerings

Its flagship product, Singularity, allows professionals across all industries to leverage quantum computing to speed up and improve the accuracy of optimisation and AI models with existing and familiar software tools. The company also has developed CompactifAI, a LLM compressor which uses quantum-inspired tensor networks to make AI systems such as large language models more efficient and portable, reducing size by over 80% while maintaining accuracy, and with over 50% savings in retraining and inference costs. 

The quantum software startup that entered into a partnership with Moody’s has a wide range of clients, including Bosch, BASF, Credit Agricole and Iberdrola, among others. 

“We are thrilled to announce our first investment in Multiverse, a pioneering quantum software company poised to revolutionise several industry segments,” said Javier Garcia, Partner at Columbus Venture Partners. “Multiverse’s exceptional team will soon apply their unparalleled capability to deliver quantum and quantum-inspired software solutions also within the life sciences and biotechnology markets, where Columbus Venture Partners will help to identify unmet market needs and high-profile industrial partners.,”

“Quantonation was the first investor in Multiverse and we are glad to support the team in this new acceleration phase,” said Olivier Tonneau, Partner at Quantonation. “The company has demonstrated a level of commercial traction that we did not expect so soon for quantum software applications. This Series A clearly positions Multiverse as a leader in quantum software,”,

“The investment from our partners and our rapid growth validate the team’s accomplishments in providing customers in energy, manufacturing, finance, defense and other industries with real value today,” said Enrique Lizaso-Olmos, CEO and co-founder of Multiverse Computing. “We expect to continue to double our revenues year over year and consolidate our industry leadership.”

“Singularity has made the benefits of quantum and quantum-inspired computing more accessible to industry, and we will continue diversifying its applications,” said Roman Orus, Chief Scientific Officer at Multiverse. “We also look forward to refining CompactifAI for LLM compression–which can already be used on top of other methods such as quantizing, pruning and distilling–and to finalise the development of other members of our quantum-inspired AI algorithm platform to eliminate unnecessary information contained in current LLM models.”

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