Startup Multiverse raises €25M, tripling valuation

H Hannan

Startup Multiverse raises €25M, tripling valuation
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Multiverse Computing, a quantum software startup, has raised €25 million in a Series A funding round to expand its operations and venture into the AI sector. The company aims to address key challenges in the AI industry, such as copyright infringement and high energy consumption, by developing new applications for large language models (LLMs) using its quantum-inspired computing techniques.

With the introduction of “Lobotomizer” and CompactifAI, Multiverse seeks to provide solutions for removing copyrighted material from LLMs without retraining and reducing the memory and storage requirements of these models. The success of CompactifAI could lead to the creation of a spin-off that may surpass the original company in size.

Multiverse is also expanding its existing product, Singularity, into various sectors, including energy, defence, cybersecurity, manufacturing, life sciences, and space tech. The company has experienced significant growth, with revenue doubling in the second half of 2023 compared to 2022.

The funding will support Multiverse’s international expansion, particularly in the US, and the hiring of 50 new employees to join its 150-strong team. The company expects its patent portfolio to grow from 93 to 150 by the end of 2024, solidifying its position as a leading quantum software startup.

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