The emergence of physical quantum computers in the market is still a few years away, but the high-level quantum computer science market is gaining momentum. Multiverse Computing, a startup from San Sebastian, Spain, has recently secured €25 million (or $27 million) in equity funding led by Columbus Venture Partners. The funding, valuing the startup at €100 million ($108 million), will be used to expand its business in areas like finance, manufacturing, energy, and defense.
CEO Enrique Lizaso-Olmos emphasizes the concept of “optimization” as the core of Multiverse’s software platform, Singularity, which aims to efficiently run and optimize complex modeling and predictive applications across various industries.
With a focus on compressing Large Language Models (LLMs), Multiverse’s new product, CompactifAI, uses quantum-inspired tensor networks to reduce calculations by more than 80% while maintaining accuracy. This innovation could revolutionize how companies use processors, addressing a major bottleneck in the industry.
The origins of Multiverse Computing stem from a WhatsApp group conversation in 2017 among like-minded individuals, including Lizaso-Olmos, Roman Orus, and Samuel Mugel. Their initial exploration of quantum technology and finance evolved into the company’s first commercial application, which gained traction in sectors beyond finance, including industrial and energy clients like Moody’s Analytics, Bosch, and BBVA.
Supported by investors like Columbus Venture Partners, Quantonation Ventures, and the European Innovation Council Fund, Multiverse aims to extend its quantum and quantum-inspired software solutions to the life sciences and biotechnology markets. Competition in the sector includes notable players like Sandbox AQ, Quantum Motion, and Classiq.
