Physical quantum computers are still years away from hitting the market at any scale and reliability, but don't give up on deep technology. The market for high-level quantum computer science, which applies quantum principles to manage complex calculations in fields such as finance and artificial intelligence, appears to be accelerating its pace.
In the latest development, Multiverse Computing, a startup based in San Sebastian, Spain, announced that it has raised €25 million (or $27 million) in an equity funding round led by Columbus Venture Partners. The funding, which values the startup at 100 million euros ($108 million), will be used in two main areas. The startup plans to continue building on its existing business by working with startups in verticals such as manufacturing and finance. And we want to launch new initiatives to work more closely with AI companies that build and operate language models at scale.
In both cases, the sales pitch is the same: “Optimization,” says CEO Enrique Lizaso-Olmos.
In other words, as computing becomes more sophisticated, it becomes more expensive and, in some cases, may be too complex to perform consistently. Multiverse's pitch is to run and optimize complex modeling and predictive applications more efficiently using Singularity, a software platform designed for applications across a wide range of industries, including finance, manufacturing, energy, cybersecurity, and defense. This means that it can be transformed into
In AI, there is more emphasis on applying platforms to compress large language models, and a new product called CompactifAI focuses on the computations that are always done during LLM construction and querying, reducing more noise. Cut and speed up your work. (and hence reliability) when delivering results.
The company claims that the software can compress LLMs by more than 80% “using quantum-inspired tensor networks” while still producing accurate results. If true, it could have a major impact on how companies buy and use processors, solving one of the industry's biggest bottlenecks to date.
Lizaso-Olmos is a polymath who began his career more than 30 years ago by first qualifying as a doctor, then earning a second degree in mathematics, and then a third degree in computer engineering. and a Ph.D., which combined these two. in Biostatistics. He later earned an MBA. Along the way, he gathered like-minded thinkers and friends. Some of them, namely Roman Orth and Samuel Mugel, were interested in the concept of quantum software and had already made a name for themselves through academic research on the subject.
“The multiverse started with a WhatsApp group,” he jokes. The year was 2017, he said, and as a thought experiment, a few researchers thought it would be “fun” to write a scientific paper about what could be done with quantum in the financial field.
This paper was eventually accepted and I was invited to participate in a conference at a university in Toronto. When Lisaso-Olmos arrived, he saw the paper being shared and discussed, and suddenly it seemed like people might use it as inspiration for their enterprising ambitions. That's when Mr. Lizaso-Olmos's MBA radar kicked in and he started having some serious IRL chats with his two friends in tow.
Thus, together with Alfonso Rubio, they started Multiverse Computing.
The initial exploration of quantum and financial technology, which was the subject of that paper, became the company's first commercial application, where it first gained attention. Since then, the company has expanded into other areas, with clients including Moody's Analytics, Bosch, BASF, Iberdrola, Crédit Agricole and BBVA, and Lizaso-Olmos is looking to create a more efficient computing environment. Industrial and energy customers also say they prefer the more environmentally friendly aspects. , which today actually accounts for more of the company's business than finance.
In addition to Columbus, previous backer Quantonation Ventures also joined, along with new backers including European Innovation Council Fund, Redstone QAI Quantum Fund, and Indi Partners.
“Multiverse's outstanding team will soon bring its unparalleled capabilities to the life sciences and biotech markets as well with quantum and quantum-inspired software solutions. Columbus Venture Partners We help identify market needs and high-profile industrial partners,” said Javier García. Partners at Columbus Venture Partners said in a statement.
While the vertical market pitch appears to be connecting with customers, what remains to be seen is how the company's ambitions to go even higher and target deep tech and AI companies themselves will play out with Multiverse. It's Ruka. Competitors in the same space include his Sandbox AQ, an Alphabet spinout, Quantum Motion, and Classiq.