Multiverse Computing, a firm focused on value-based quantum and quantum-inspired AI software solutions, announced an investment from the Italian investor in venture capital CDP Venture Capital Sgr, as part of the firm’s Series A round.
The investment was carried out via compartments of the Corporate Partners I fund, ServiceTech and Energytech, a corporate venture capital fund participated by some of the main Italian corporates “as limited partners, including Baker Hughes, BNL BNP Paribas, Edison, GPI, Italgas, Snam and Terna Forward.”
Financial details of the investment were “not disclosed.”
The funds will go toward growing Multiverse Computing’s commercial presence in Italy which includes expanding its office in Milan, creating new public and private partnerships and attracting new talent.
Multiverse Computing will use these funds to expand partnerships as well, including a project with EuroHPC and the Leonardo supercomputer, located at the CINECA datacenter in Bologna, a computing consortium in Northeastern Italy that “includes 103 public entities.”
Multiverse Computing was granted GPU node hours to “further benchmark and improve CompactifAI’s performance” against models, like LlaMA family models.
The project aims to test advanced tensor network compression techniques for LLMs and “validate its performance and energy efficiency against the original model.”
Enrique Lizaso Olmos, CEO and co-founder of Multiverse Computing said:
“We have been working with Italian companies and universities for several years, and now we will be able to build even stronger ties and more innovative collaborations based on our quantum AI software. We also plan to use CompactifAI to help industry leaders develop new use cases for large-language models that are smaller and more efficient.”
Multiverse Computing is also working with Leonardo, the Italian multinational company specializing in aerospace, defense and security to develop “advanced predictive maintenance algorithms for aircrafts.”
The multi-year project uses quantum and quantum inspired AI technology to perform secured “predictive maintenance for aircraft systems.”
This work is part of a larger EU project to build technology tools to “support digitization and automation for European industry.”
CDP Venture Capital invests in companies of significant national interest to Italy and provides capital for the “development of organizations in key sectors to promote innovation.”
Agostino Scornajenchi, CEO and General Manager of CDP Venture Capital said:
“Investing in Multiverse Computing, a company of excellence in the field of quantum computing and AI, is part of our broader goal to promote innovation and new technologies in Italy supporting visionary companies and fostering collaboration with the Italian corporates. This investment represents a strategic step to develop partnerships and high-impact projects in our Country, helping to consolidate Italy’s role as a hub of innovation and technological advancement.”
As covered, Multiverse Computing is a quantum AI software company dedicated to applying quantum and quantum-inspired AI solutions to address complex “challenges in finance, energy, manufacturing, logistics, space, life sciences, healthcare and defense, delivering tangible value today.”
Leveraging expertise in quantum and quantum-inspired AI algorithms, the company maximizes results from “current quantum devices and classical high-performance computers.”
Its product, CompactifAI, a LLM compressor which uses quantum-inspired tensor networks to “make large language models or any convolutional neural network more efficient and portable.”
The company has developed Singularity, it allows professionals across all industries to leverage quantum computing to “speed up and improve the accuracy of optimization and AI models without being an expert in quantum.”