In the rapidly evolving world of quantum computing, a Spanish startup called Multiverse Computing is making waves with its innovative approach to optimizing complex computations across a wide range of industries. The company has recently raised $27 million (€25 million) in an equity funding round led by Columbus Venture Partners, valuing Multiverse at $108 million (€100 million).
While physical quantum computers are still years away from widespread market adoption, Multiverse Computing is capitalizing on the potential of quantum computing principles to manage complex calculations in areas like finance, manufacturing, energy, cybersecurity, and artificial intelligence. Their flagship software platform, Singularity, applies these quantum-inspired techniques to run and optimize intricate modeling and predictive applications more efficiently.
One of the company’s key focuses is the burgeoning field of large language models (LLMs) in artificial intelligence. With a new product called CompactifAI, Multiverse aims to compress LLMs by more than 80% while maintaining accuracy. This compression is achieved through the application of “quantum-inspired tensor networks,” which could potentially address a significant bottleneck in the industry by reducing the computational resources required to build and query these language models.
Multiverse Computing’s journey began in 2017 as a thought experiment among a group of friends, including CEO Enrique Lizaso Olmos, a polymath with backgrounds in medicine, mathematics, computer engineering, and business. Their initial exploration into quantum computing’s applications in finance led to a scientific paper that garnered significant interest, prompting the founding of the company.
Since then, Multiverse has expanded its reach across various sectors, counting major corporations like Moody’s Analytics, Bosch, BASF, Iberdrola, Crédit Agricole, and BBVA among its customers. Interestingly, the company’s industrial and energy clients now account for a larger portion of its business than finance, driven in part by the appeal of more efficient and eco-friendly computing solutions.
With this latest funding round, Multiverse Computing plans to further develop its existing business verticals while also intensifying its efforts to collaborate with AI companies operating large language models. The company faces competition from other players in the quantum software space, such as Alphabet’s spinout Sandbox AQ, Quantum Motion, and Classiq.
As the demand for advanced computing capabilities continues to grow, Multiverse Computing’s quantum-inspired approach to optimization could become increasingly valuable across multiple industries, reshaping the way complex computations are managed and paving the way for more efficient and sustainable solutions.