Multiverse Computing, a leading European quantum software company, has successfully raised €25 million ($27M USD) in Series A funding. The investment round, oversubscribed, was led by Columbus Venture Partners and Quantonation Ventures, with contributions from various other investors including the European Innovation Council Fund and Redstone QAI Quantum Fund. This funding will be utilized to advance the development of Multiverse’s proprietary quantum and quantum-inspired algorithms and software, including their flagship product Singularity and the recently launched LLM compressor, CompactifAI. Singularity enables professionals from various industries to utilize quantum and quantum-inspired computing for AI and optimization applications, while CompactifAI compresses large language models with quantum-inspired tensor networks. The company also plans to use the funding to support its global expansion efforts, aiming to bring quantum and quantum-inspired utility to new markets and industries. With this investment, Multiverse Computing reinforces its position as a leader in the quantum software landscape, poised to deliver significant advancements in quantum computing applications. A press release from Multiverse announcing this fundraising is available here.
March 5, 2024
