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San Sebastian, Spain, March 5, 2024 — Multiverse Computing, a global leader in value-based quantum and quantum-inspired computing solutions and the largest quantum software company in the European Union, today announced that Announced that it has secured €25 million (US$27.1). 1 million) oversubscribed investment round.
The round was led by Columbus Venture Partners through SCR, with significant contributions from new investors including Quantonation Ventures and notable backers such as the European Innovation Council Fund, Redstone QAI Quantum Fund, and Indi Partners. This achievement strengthens the company’s strong investment base and position as a leader in the quantum software industry.
“We are pleased 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. said. “Multiverse’s outstanding team will soon bring its unparalleled capabilities to the life sciences and biotech markets with quantum and quantum-inspired software solutions, where Columbus Venture Partners is pleased to We help identify unmet market needs and high-profile industry partners.”
“Quantonation was the first investor in Multiverse and we are pleased to support the team in this new phase of acceleration,” said Olivier Tonneau, Partner at Quantonation. “The company has demonstrated a level of commercial traction for quantum software applications that we did not expect so early. This Series A clearly positions Multiverse as a leader in quantum software.”
The company plans to use the new funding to accelerate the development of its proprietary quantum and quantum-inspired algorithms and software, including its flagship product Singularity and its recently released LLM compressor CompactifAI.
Singularity enables professionals without a quantum background to use quantum and quantum-inspired computing for AI and optimization applications in finance, energy, manufacturing, life sciences, cybersecurity, and defense. You can achieve short-term value today. CompactifAI uses quantum-inspired tensor networks to compress large language models, reducing their size by more than 80% while maintaining accuracy. These tools place Multiverse as part of CB Insights’ Quantum AI category and one of the world’s 100 most promising AI companies.
Enrique Lizaso Olmos, CEO and co-founder of Multiverse Computing, said: “Our partners’ investments and our rapid growth are testament to our team’s accomplishments in delivering real value today to customers in energy, manufacturing, finance, defense, and other industries.” We expect to double our revenue year over year and strengthen our industry leadership.”
The company also plans to use the funding to support global expansion, including US Multiverse working with industry partners, academic institutions, and government agencies to bring quantum and quantum-inspired utilities to new markets. It also includes what it brings to industry.
“Singularity has made the benefits of quantum and quantum-inspired computing more accessible to industry, and we continue to diversify its applications.” Multiverse said Roman Ors, Chief Scientific Officer. “We are also improving CompactifAI for LLM compression, which can already be used in addition to other methods such as quantization, pruning, and distillation, and using quantum-inspired AI to eliminate unnecessary We look forward to completing the development of other members of the algorithmic platform and information contained in the current LLM model.”
Quantum computers are designed to outperform classical computers by running quantum algorithms to solve previously unsolvable problems when the technology matures. McKinsey predicts that the value of this technology could exceed $1.3 trillion over the next decade.
Quantum-inspired algorithms (tensor networks) are currently the most efficient algorithms that can be run on regular computers, outperforming other solutions in industries such as energy, manufacturing, finance, defense, health, and AI. Delivering excellent performance.
About multiverse computing
Multiverse Computing is a leading company dedicated to applying quantum and quantum-inspired solutions to address complex challenges in finance, energy, manufacturing, logistics, space, life sciences, healthcare, and defense. A quantum software platform that delivers tangible value today. The company leverages its expertise in quantum and quantum-inspired algorithms to maximize results from both today’s quantum devices and traditional high-performance computers. Its flagship product, Singularity, enables professionals in any industry to leverage quantum computing to accelerate optimization and improve accuracy of AI models using existing and familiar software tools. I can. The company also developed CompactifAI, an LLM compressor that uses quantum-inspired tensor networks to make AI systems, such as large-scale language models, more efficient and portable. This can reduce size by more than 80% and save retraining and costs by more than 50% while maintaining accuracy. Inference cost.
Source: Multiverse Computing
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