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Multiverse Computing

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Multiverse Computing
IndustryQuantum Computing
Founded2019; 5 years ago (2019)
Headquarters
San Sebastián
,
Spain
Key people
Enrique Lizaso, Román Orús, Alfonso Rubio, Sam Mugel
ProductsSingularity
Number of employees
90 (2023)
Websitemultiversecomputing.com

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.[1][2][3][4][5][6]

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.[7]

History

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Multiverse was co-founded in 2019 by Enrique Lizaso, Román Orús, Alfonso Rubio and Sam Mugel.[8] 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.[1]

In 2021, the company announced €12.5 million in funding from the European_Innovation_Council (EIC) Accelerator program.[8] This was followed by a €25 million funding round in 2024, valuing the startup at €100 million.[9][10] 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.[11]

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.[5] 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.[12] Later that year, BASF used Multiverse’s Singularity to develop models for foreign exchange trading optimization between U.S. and EU currency.[13]

Additional organizations exploring Multiverse’s quantum software include BBVA, Crédit Agricole CIB, and Repsol.[1][14][15] 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.”[5] Today, Multiverse is one of the largest quantum software companies in the world and has raised over €27.3 million.[1][8][16][17]

Technology

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Multiverse Computing’s algorithms have been implemented across verticals such as energy, manufacturing, logistics, finance, chemistry, space, and cybersecurity.[1] In addition to quantum machine learning and optimization algorithms, the company uses quantum-inspired tensor networks to improve efficiency in solving industrial challenges.[18] 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.[19][20]

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.[21]

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.[14]

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.[22][23]

Awards

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Multiverse Computing won the 2024 Future Unicorn award from DIGITALEUROPE, recognizing the company’s potential for digital transformation across cybersecurity, health and AI.[17] 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.[24]

References

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  1. ^ a b c d e Schenker, Jennifer L. (2 September 2022). "Startup Of The Week: Multiverse Computing". The Innovator. Retrieved 4 April 2023.
  2. ^ Campbell, Charlie (26 January 2023). "Quantum Could Solve Countless Problems—And Create New Ones". TIME. Retrieved 4 April 2023.
  3. ^ Baker, Berenice (12 August 2023). "Multiverse, Iberdrola Tap Quantum for Green Energy Solutions". IoT World Today. Retrieved 7 February 2024.
  4. ^ Farmer, Douglas (12 July 2023). "Quantum Artificial Vision System Shines on Production Line". IoT World Today. Retrieved 7 February 2024.
  5. ^ a b c Hughes, Stephanie. "Bank of Canada Taps Quantum Computing Startup to Tackle Complex Financial Problems". Financial Post. Retrieved 4 April 2023.
  6. ^ Craig, Megan (7 February 2024). "Multiverse Computing and Single Quantum Launch Materials Science Researfh Contradcft with German Aerospace Center". AZO Materials. Retrieved 7 February 2024.
  7. ^ Finke, Doug (29 August 2022). "Multiverse Computing Introduces a New Version of Their Singularity Portfolio Optimization Software - Quantum Computing Report". The Quantum Computing Report. Retrieved 4 April 2023.
  8. ^ a b c Singh, Vishal (20 December 2021). "Spain-Based Startup Multiverse Computing Receives €12.5M from EIC to Bring Quantum Computing to Finance Companies". Silicon Canals. Retrieved 4 April 2023.
  9. ^ Lunden, Ingrid (4 March 2024). "Multiverse raises $27M for quantum software targeting LLM leviathans". Tech Crunch. Retrieved 4 April 2024.
  10. ^ Gallardo, Cristina (4 March 2024). "Quantum startup Multiverse Computing triples valuation as it takes on AI". Sifted (Financial Times). Retrieved 4 April 2024.
  11. ^ Ahlgren, Linnea (28 March 2024). "Cosmic rays, XR, and 'multiverse' quantum computing — welcome to EIC's deeptech Scaling Club". The Next Web. Retrieved 4 April 2024.
  12. ^ "Applications of Tensor Networks in Quantum Physics". Tensor Network. Flatiron Institute. Retrieved 4 April 2023.
  13. ^ Orús, Román (September 2019). "Tensor networks for complex quantum systems". Nat Rev Phys. 1 (9): 538–550. arXiv:1812.04011. doi:10.1038/s42254-019-0086-7. S2CID 257111495.
  14. ^ a b Saran, Cliff. "Crédit Agricole Tests Quantum in Finance". Computer Weekly. Retrieved 4 April 2023.
  15. ^ Reyes, J A; Stoudemire, E M (14 July 2021). "Multi-scale tensor network architecture for machine learning". Mach. Learn.:Sci. Technol. 2 (3). IOP Publishing Ltd: 035036. doi:10.1088/2632-2153/abffe8. S2CID 235800518.
  16. ^ Smith, Tim. "Spain's Fastest Growing Startups Outside of Madrid and Barcelona". Sifted. Retrieved 4 April 2023.
  17. ^ a b Donovan, Brett (19 January 2024). "Multiverse Computing Shortlisted for 'Future Unicorn' Status Among Europe's Top Tech Scale-ups". Quantum Zeitgeist. Retrieved 29 January 2024.
  18. ^ Lawton, George (August 2022). "Bosch's New Partnership Aims to Explore Quantum Digital Twins". VentureBeat. Retrieved 4 April 2023.
  19. ^ Baker, Berenice. "BASF and Multiverse to Develop Quantum Forex Models". Quantum Business News. Retrieved 4 April 2023.
  20. ^ Russell, John. "Multiverse Computing Named a 2022 Gartner Cool Vendor". HPCwire. Retrieved 4 April 2023.
  21. ^ Hughes-Castleberry, Kenna. "Quantum News Briefs: November 16, 2023: Multiverse Computing Launches CompatifAI". Inside Quantum Technology. Retrieved 18 December 2023.
  22. ^ Lawrence, Cate (8 February 2024). "Multiverse Computing and Single Quantum secure $1.4M contract with the German Aerospace Centre". Tech EU. Retrieved 4 April 2024.
  23. ^ Craig, Megan (7 February 2024). "Multiverse Computing and Single Quantum Launch Materials Science Research Contract with German Aerospace Center". AZo Materials. Retrieved 4 April 2024.
  24. ^ Insights, CB (20 June 2023). "AI 100: The most promising artificial intelligence startups of 2023". CB Insights. Retrieved 4 April 2024.
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