By Dan O’Shea posted 05 Mar 2024
Multiverse Computing, the San Sebastián, Spain company that was among the earliest dedicated to quantum software, has secured a €25M (USD $27.1 million) oversubscribed investment round.
The round was led by Spanish venture capital firm Columbus Venture Partners, which has a heavy focus on investments in the area of biopharmaceutical drug development, which also has been a key target application area for Multiverse as it has worked with partners and clients on drug discovery and related use cases.
Other contributors to the latest funding round included European quantum specialist investor Quantonation Ventures as well as the European Innovation Council Fund, Redstone QAI Quantum Fund, and Indi Partners, among other prominent backers.
The new funds will help Multiverse accelerate the development of its proprietary quantum and quantum-inspired algorithms and software, including its flagship product Singularity, and the more recently released LLM compressor CompactifAI. Like an increasing number of quantum technology firms, Multiverse has started to put more of its attention on the intersection of quantum and AI.
Multiverse last month earned “Future Unicorn” status from DIGITALEUROPE, which acknowledges the potential of start-ups to eventually become billion-dollar companies.
“We are thrilled to announce our first investment in Multiverse, a pioneering quantum software company poised to revolutionize several industry segments,” said Javier Garcia, Partner at Columbus Venture Partners. “Multiverse’s exceptional team will soon apply their unparalleled capability to deliver quantum and quantum-inspired software solutions also within the life sciences and biotechnology markets, where Columbus Venture Partners will help to identify unmet market needs and high-profile industrial partners.”
“Quantonation was the first investor in Multiverse and we are glad to support the team in this new acceleration phase,” said Olivier Tonneau, Partner at Quantonation. “The company has demonstrated a level of commercial traction that we did not expect so soon for quantum software applications. This Series A clearly positions Multiverse as a leader in quantum software.”
Dan O’Shea has covered telecommunications and related topics including semiconductors, sensors, retail systems, digital payments and quantum computing/technology for over 25 years.
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- Source: https://www.insidequantumtechnology.com/news-archive/multiverse-computing-lands-an-additional-27-1m-in-funding/
