Multiverse Computing is a quantum software company with headquarters in San Sebastian, Spain that specializes in providing quantum software solutions for the financial industry. Their flagship product is called Singularity that allows users to input their problem’s parameters for applications such as portfolio optimization or fraud detection into a spreadsheet and then submit the spreadsheet for solution on a quantum computer. This funding round was led by JME Ventures with additional participation from Quantonation, EASO Ventures, Inveready, CLAVE Capital (Mondragón Fondo de Promoción), Ikerlan, LKS, Penja Strategy, Seed Gipuzkoa and Ezten Venture Capital Fund. This follows an earlier pre-seed round of 1.5 Million Euro ($1.78M USD) that Multiverse received in November 2020. The company will use the funds to expand their technology and marketing efforts. In addition, they will continue their globalization strategy with increased support including offices in Toronto, Paris and Munich. The company has set a goal of reaching annual revenue close to €100 million ($116M USD) by 2027 and grow the staffing levels from the current count of 30 to about 100 people. For more information about their funding, you can view a press release they provided which is available here.
October 20, 2021