Multiverse Computing, a leading quantum software company in the European Union, has raised €25M (USD $27.1 million) in an oversubscribed investment round. The round was led by Columbus Venture Partners and included contributions from Quantonation Ventures, the European Innovation Council Fund, Redstone Quantum Fund, and Indi Partners. The funds will be used to accelerate the development of Multiverse’s quantum and quantum-inspired algorithms and software, including its flagship product Singularity and the recently released LLM compressor CompactifAI. The company also plans to use the funding to support its global expansion, including into the U.S. market.
Multiverse Computing Secures €25 Million in Series A Funding
Multiverse Computing, a company specializing in quantum and quantum-inspired computing solutions, has successfully raised €25 million (USD $27.1 million) in an oversubscribed investment round. The company, which is the largest quantum software company in the European Union, plans to use the funding to accelerate the development of its proprietary quantum and quantum-inspired algorithms and software.
The investment round was spearheaded by Columbus Venture Partners, with significant contributions from Quantonation Ventures and new investors, including the European Innovation Council Fund, Redstone Quantum Fund, and Indi Partners, among others. This funding round strengthens the company’s investment base and solidifies its position in the quantum software sector.
Multiverse’s Quantum Software and Its Impact on Various Industries
Multiverse Computing is at the forefront of quantum software development, with its products set to transform several industry segments. The company’s exceptional team is developing quantum and quantum-inspired software solutions for the life sciences and biotechnology markets, among others. Columbus Venture Partners will assist in identifying unmet market needs and high-profile industrial partners in these sectors.
The company’s flagship product, Singularity, allows professionals without a quantum background to use quantum and quantum-inspired computing for AI and optimization applications. These applications are applicable across various sectors, including finance, energy, manufacturing, life science, cybersecurity, and defense. Another product, CompactifAI, compresses large language models with quantum-inspired tensor networks, reducing their size by more than 80% while maintaining accuracy.
Multiverse’s Growth and Future Plans
The recent investment and the company’s rapid growth validate Multiverse’s success in providing valuable solutions to customers in energy, manufacturing, finance, defense, and other industries. The company expects to continue doubling its revenues year over year and solidify its position in the industry.
The funding will also support Multiverse’s global expansion, including into the U.S.A. The company plans to collaborate with industry partners, academic institutions, and government entities to bring quantum and quantum-inspired utility to new markets and industries.
Quantum Computing: The Future of Problem Solving
Quantum computers, designed to outperform classical computers, run quantum algorithms to solve previously intractable problems. As the technology matures, it is projected to account for over $1.3 trillion in value in the next decade. Quantum-inspired algorithms (tensor networks) are currently the most efficient algorithms that can run on ordinary computers today, outperforming any other solutions in industries such as energy, manufacturing, finance, defense, health, AI, and more.
About the Investors
Columbus Venture Partners is a Spanish venture capital firm that invests in outstanding opportunities in all stages of (bio)pharmaceutical drug development, advanced biopharmaceutical manufacturing technologies, and purpose-driven tech companies.
Quantonation is the first early-stage VC fund dedicated to deep physics and quantum technologies. It supports the transition of these disruptive technologies into commercially available products. Quantonation is headquartered in Paris, France, and in Boston, USA, with investments all over the world.
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