San Sebastián-based company Multiverse Computing, which develops quantum-inspired technology to compress large AI models, has raised a $215 million Series B round led by Bullhound Capital, with support from HP Tech Ventures, SETT, Forgepoint Capital International, and CDP Venture Capital.
- Multiverse Computing, founded in 2019 by Enrique Lizaso Olmos, Román Orús, Alfonso Rubio, and Samuel Mugel, develops quantum and quantum-inspired software to tackle complex challenges in AI and optimization across sectors such as finance, energy, manufacturing, and healthcare.
- The company’s flagship technologies include CompactifAI, a model compression tool that leverages tensor network methods from quantum physics to shrink large language models by up to 95% with minimal accuracy loss, and Singularity, a platform that deploys proprietary quantum algorithms to address real-world industrial problems.
- The firm uses AI models that can run on both cloud and edge devices. Multiverse is helping reduce the rising computational costs of AI and accelerating the adoption of quantum-inspired solutions across industries.
- The company holds more than 160 patents and counts major organizations such as Bosch and the Bank of Canada among its clients.
Details of the deal
- The Series B will be led by Bullhound Capital, the investment management arm of GP Bullhound, which has deployed over €1 billion and invested in global leaders like Spotify, Klarna, Revolut, Slack, Unity, ConnexAI, and EcoVadis.
"Enrique Lizaso is the perfect CEO for rapidly expanding the business in a global race for AI dominance. I am also pleased to see that so many high-profile investors such as HP and Forgepoint decided to join the round. We welcome their participation," claims Per Roman, co-founder and Managing Partner at Bullhound Capital.
- The investment saw support from HP Tech Ventures, SETT, Forgepoint Capital International, CDP Venture Capital, Santander Climate VC, Quantonation, Toshiba, and Capital Riesgo de Euskadi - Grupo SPRI.
- Multiverse Computing will use the fresh funding to expand adoption of CompactifAI, scale product development, and deploy its compressed AI models globally, making large language models faster, cheaper, and more energy-efficient.
“With a unique syndicate of expert and strategic global investors on board and Bullhound Capital as lead investor, we can now further advance our laser-focused delivery of compressed AI models that offer outstanding performance with minimal infrastructure," said Enrique Lizaso Olmos, founder and CEO of Multiverse Computing.
