With a notepad in one hand and a camera in the other, this journalist delves into the depths of AI marvels, uncovering the untold stories woven between lines of code.
Multiverse Computing Raises $27M for Quantum Software
In the realm of quantum computing, a startup named Multiverse Computing, based in San Sebastian, Spain, has recently made waves by securing a substantial amount of funding to propel its innovative quantum software forward.
Quantum Software Advancements
The startup has successfully raised $27 million in an equity funding round, with Columbus Venture Partners leading the investment. This funding has placed Multiverse Computing at a valuation of $100 million and will be allocated towards two primary areas of development.
CEO Enrique Lizaso Olmos emphasized the company’s focus on “optimization,” highlighting the importance of enhancing computational efficiency as technology advances. Multiverse’s software platform, Singularity, is designed to streamline complex computations across various sectors such as finance, manufacturing, energy, cybersecurity, and defense.
Application in Artificial Intelligence
Multiverse Computing is also venturing into the realm of artificial intelligence, particularly in the optimization of large language models (LLMs). Their new product, CompactifAI, aims to streamline calculations involved in building and querying LLMs, significantly improving speed and reliability in producing results.
According to the company, their services can compress LLMs using quantum-inspired tensor networks, reducing them by over 80% while maintaining accuracy. This breakthrough could revolutionize how companies approach processor utilization, addressing a significant bottleneck in the industry.
The Journey of Multiverse Computing
The inception of Multiverse Computing traces back to a group chat on WhatsApp in 2017, where a scientific paper exploring quantum applications in finance sparked the company’s formation. Since then, the startup has expanded its reach beyond finance, catering to industrial and energy clients like Moody’s Analytics, Bosch, and BBVA.
With a diverse team and a strong focus on delivering quantum and quantum-inspired software solutions, Multiverse Computing is poised to make significant strides in sectors like life sciences and biotechnology, with the backing of investors like Columbus Venture Partners and Quantonation Ventures.
Future Prospects in the Quantum Space
While Multiverse Computing has garnered attention and traction in various industries, its ambition to target deep tech and AI companies directly will be a pivotal point for its future growth. Competitors like Sandbox_AQ, Quantum Motion, and Classiq are also vying for a spot in the quantum software landscape, setting the stage for an exciting evolution in this cutting-edge field.
