Multiverse Computing

Multiverse Computing is a Spanish quantum computing software company headquartered in San Sebastián, Spain, with offices in Paris, Munich, London, Toronto and Sherbrooke, Canada. The Spanish startup applies quantum and quantum-inspired algorithms to problems in energy, logistics, manufacturing, mobility, life sciences, finance, cybersecurity, chemistry, materials science and aerospace.

Its quantum and quantum-inspired software platform Singularity is designed to allow users without prior knowledge of quantum computing to use quantum algorithms via tools such as Microsoft Excel.

History
Multiverse was co-founded in 2019 by Enrique Lizaso, Román Orús, Alfonso Rubio and Sam Mugel. Lizaso, treasurer and member of the governing board of the European Quantum Industry Consortium, and Orús, Ikerbasque Research Professor at Donostia International Physics Center and former Marie Curie Fellow at the Max Planck Institute of Quantum Optics, were chatting on WhatsApp when the idea for a quantum computing company for finance was born.

In 2021, the company announced €12.5 million in funding from the European_Innovation_Council (EIC) Accelerator program. This was followed by a €25 million funding round in 2024, valuing the startup at €100 million. Later that year, the startup was selected by the EIC’s Scaling Club – with a budget of $10 billion – as one of 48 companies to receive support with funding, mentoring and partnership matchmaking.

In April 2022, the company partnered with the Bank of Canada to explore how quantum computing can simulate cryptocurrency adoption. This research made Canada the first G7 country to explore the model of complex networks and cryptocurrencies through quantum computing. That July, Multiverse partnered with Bosch to integrate quantum algorithms into digital twin simulation workflow to scale simulations more efficiently and improve the accuracy of defect detection. Later that year, BASF used Multiverse’s Singularity to develop models for foreign exchange trading optimization between U.S. and EU currency.

Additional organizations exploring Multiverse’s quantum software include BBVA, Crédit Agricole CIB, and Repsol. In 2022, Gartner recognized Multiverse Computing as a “Gartner Cool Vendor” for offering “quantum software technologies and services that enable integration of quantum solutions exploration in the financial services industry.” Today, Multiverse is one of the largest quantum software companies in the world and has raised over €27.3 million.

Technology
Multiverse Computing’s algorithms have been implemented across verticals such as energy, manufacturing, logistics, finance, chemistry, space, and cybersecurity. In addition to quantum machine learning and optimization algorithms, the company uses quantum-inspired tensor networks to improve efficiency in solving industrial challenges. Tensor networks are used to model quantum systems, specifically quantum systems of many particles, and more recently are being applied to model artificial intelligence systems.

In 2023, the company launched CompactifAI, software that utilizes these networks to reduce the computational costs and energy requirements of training and operating large language models (LLMs). By minimizing size, memory, and storage needs of the models, the tensor networks can enhance efficiency and portability of these models.

Earlier that year, Credit Agricole CIB released the results of multiple experiments with Multiverse that explored the use of quantum and quantum-inspired computing for the valuation of derivatives as well as solving the anticipation of credit rating downgrades.

In 2024, the company secured a $1.4M contract with the German Aerospace Center to develop single photon detectors with applications ranging from quantum computing to deep-space communication and bio-imaging.

Awards
Multiverse Computing won the 2024 Future Unicorn award from DIGITALEUROPE, recognizing the company’s potential for digital transformation across cybersecurity, health and AI. The company was also selected as a top 100 most promising AI company in the world in quantum AI software by CB Insights in 2023.