Multiverse Computing, a San Sebastian, Spain-based quantum computing startup dedicated to finance, closed a seed funding round of €10 million ($11.55m).
The round was led by JME Ventures and also included Quantonation, EASO Ventures, Inveready, CLAVE Capital (Mondragón Fondo de Promoción), Ikerlan, LKS, Penja Strategy, Seed Gipuzkoa and Ezten Venture Capital Fund.
The company intends to use the funds to consolidate its growth and globalization strategy as well as continue to advance its technology and marketing, to gradually enter into new markets such as energy, mobility, and smart manufacturing.
The company will also increase support for its global expansion which currently includes a fully operational office in Toronto and two recent office openings in Paris and Munich. By the end of the year, Multiverse Computing expects to have at least 24 quantum algorithm international patents.
Company: MULTIVERSE COMPUTING, S.L.
Round: Seed Round
Funding Month: October 2021
Lead Investors: JME Ventures
Additional Investors: Quantonation, EASO Ventures, Inveready, CLAVE Capital (Mondragón Fondo de Promoción), Ikerlan, LKS, Penja Strategy, Seed Gipuzkoa and Ezten Venture Capital Fund
Company Website: https://www.multiversecomputing.com/
Software Category: Quantum Computing
About the Company: Led by Enrique Lizaso, Ph.D., co-founder and CEO, Román Orús, Ph.D., co-founder, and Chief Scientific Officer, and Sam Mugel, Ph.D., co-founder, and technical director, Multiverse Computing provides Singularity®, which enables financial professionals to run quantum algorithms on any quantum computer from a simple spreadsheet to address complex problems, such as portfolio optimization and fraud detection, without requiring any knowledge of quantum computers. The company, which was founded in March 2019 with the help of the Basque Government-Spri and the Provincial Council of Guipuzkoa through the Txekintek / Ekintzaile program, collaborates with technology partners in quantum computing such as IBM, Microsoft, Xanadu, D-Wave, IonQ, Rigetti, Pasqal, Alpine, Quantum Technologies, Strangeworks, Orca, Amazon AWS, Fujitsu, among others.