Multiverse Raised Funds of $27 Million for Targeting LLM Leviathans
The Spain-based software company, Multiverse Computing recently announced raising funds of €25 million (or $27 million) in an equity funding round led by Columbus Venture Partners.
A San Sebastián, Spain-based company was founded in 2019 by Enrique Lizaso Olmos. As per the sources, Multiverse was started with a WhatsApp group with the thought it “would be fun”. The company was founded by writing a scientific paper about “what you could do with quantum in finance.” Today, it is one of the top 100 AI companies in the world.
Multiverse computing is one of the leaders in quantum computing. The company provides efficient solutions for Artificial intelligence and Green transition. The funding which is valued at $108 million is going to be used in these two areas.
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The startup is planning to continue working with large AI companies to operate and enhance the LLM models. Also, they are planning to work on their exciting business in different verticles.
For raising the funds, the multiverse pitch was-” Singularity(Multiverse software platform) — designed to apply across a wide range of industries like finance, manufacturing, energy, cybersecurity, and defense — can be used to run and optimize complicated modeling and predictive applications more efficiently.”
The company also states that its focus is on compressing the Large Language models with the new AI tool called CompactifAI. They are working on reliability to cut out noise and speed up the work, for better results. As per the company’s claim, using ‘quantum-inspired tensor networks’ can compress LLM by 80% producing accurate results.
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“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,” said Javier Garcia, a partner at Columbus Venture Partners.
However, the pitch to vertices seems to be connected with the customers. But the goal of the multiverse to take things to the next step is still not that much clear. Additionally, the competitors of Multiverse Entropica Labs, Zapata AI, SandboxAQ, Terra Quantum, Classiq, and others are performing in the same space.
