1 The EIC Accelerator Project

EIC Accelerator Program Overview

The EIC (European Innovation Council) Accelerator program is a flagship initiative designed to support small and medium-sized enterprises (SMEs) and startups within the European Union. Focused on fostering innovation and scaling up high-risk, high-potential projects, the EIC Accelerator provides crucial funding and support to companies that are at the forefront of technological advancement. The program primarily targets DeepTech sectors, including artificial intelligence, biotechnology, and quantum technologies, among others.

Funding Structure

The EIC Accelerator employs a blended finance approach, providing both grant funding and equity investment. The grant component can reach up to €2.5 million, aimed at covering costs related to product development, testing, and market entry. This grant is particularly beneficial for companies that need initial capital to develop their innovations without the pressure of immediate returns.

In addition to the grant, the EIC Accelerator offers equity funding that can go up to €15 million until 2024 and is set to decrease to a maximum of €10 million starting in 2025. This equity component enables companies to scale effectively by attracting additional private sector investment. By co-investing with private investors, the EIC Accelerator helps to mitigate financial risks and enhances the credibility of the companies involved, making them more attractive to potential investors.

Purpose in the Startup Ecosystem

The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by addressing the funding gap that often exists for innovative companies. Traditional funding avenues may overlook high-risk projects despite their potential for significant societal and economic impact. By providing tailored support, the EIC Accelerator not only assists companies in developing cutting-edge technologies but also helps them secure a competitive position in the global market.

The program also emphasizes the importance of collaboration between public funding and private investment. By fostering partnerships and encouraging co-investment, the EIC Accelerator enables companies to scale their operations and increase market penetration effectively.

Case Study: Multiverse Computing SL and the SINGULARITY Project

One notable winner of the EIC Accelerator is Multiverse Computing SL, a Spanish company recognized for its groundbreaking work in quantum computing. The company’s project, titled SINGULARITY, is heralded as the first quantum software toolbox specifically designed for the finance sector. The Step 2 proposal was submitted on October 6, 2021, and Multiverse Computing successfully advanced to the Step 3 interview, ultimately securing funding.

Technology Background

The SINGULARITY project leverages the unique properties of quantum computing to address complex problems in finance that classical computing struggles to solve efficiently. Quantum computing operates on the principles of quantum mechanics, utilizing qubits instead of traditional bits. This allows quantum computers to process vast amounts of data simultaneously, making them exceptionally powerful for tasks like risk analysis, portfolio optimization, and fraud detection.

Multiverse Computing's SINGULARITY toolbox enables financial institutions to harness quantum algorithms, providing them with tools to run simulations and optimizations that were previously unattainable. The software is specifically designed to integrate with existing financial systems, ensuring a smooth transition for companies looking to adopt quantum technologies.

By focusing on the finance sector, SINGULARITY aims to revolutionize how financial institutions approach data analysis and decision-making, ultimately leading to more efficient operations and improved financial outcomes. The project exemplifies the potential of quantum technologies to transform industries that rely on complex computations and large datasets.

Conclusion

The EIC Accelerator program serves as a vital catalyst for innovation within Europe, particularly for DeepTech startups like Multiverse Computing SL. By providing both grant and equity funding, the program empowers companies to develop transformative technologies and scale effectively, thereby contributing to the overall growth of the European economy. The SINGULARITY project stands as a testament to the program’s impact, illustrating how quantum computing can reshape the finance sector and unlock new opportunities for businesses.

2 The Funding Rounds

Multiverse Computing SL, a Spanish quantum computing software company and EIC Accelerator winner (Step 2 proposal submitted October 6, 2021), has successfully raised substantial financing through multiple funding rounds since its inception.

Financing Raised and Funding Rounds

Seed Round – October 2021

• Amount: €10 million
• Lead Investor: JME Ventures
• Other Investors: Quantonation Ventures, EASO Ventures, Inveready Technology Investment, CLAVE Capital (Mondragón Fondo de Promoción), Ikerlan S Coop, LKS Group, Penja Strategy SL, Seed Gipuzkoa, Ezten Venture Capital Fund
• Purpose: To consolidate growth and globalization strategy; advance technology and marketing; enter new markets such as energy and smart manufacturing. Also to support global expansion including offices in Toronto, Paris, and Munich.

Additional Early Funding – December 2021

• Amounts: Two rounds of €2.5 million and €10 million led by the European Innovation Council Fund (EIC Fund).
• Purpose: Support research & development in quantum computing; scale operations and enhance product offerings.

Series A Round – March 2024

• Amount Raised: €25 million (USD $27.1 million) in an oversubscribed round.
• Lead Investor: Columbus Venture Partners via their SCR fund.
• Significant Contributors/Investors included Quantonation Ventures (follow-on investment), European Innovation Council Fund (EIC), Redstone QAI Quantum Fund, Indi Partners among others.

This round was aimed at accelerating development of proprietary quantum-inspired algorithms including flagship products Singularity (quantum AI platform for various industries) and CompactifAI (large language model compression tool). It also supported global expansion efforts with a focus on the U.S. market.

Latest Major Investment – March 2025

• Amount Raised/Co-investment by Spanish Government through SETT fund: €67 million.
• Purpose stated as positioning Spain as a leader in energy-efficient AI technologies; supporting further advancements making AI models smaller/more efficient with reduced operating costs/environmental impact.

Total Financing Summary

According to aggregated data: | Date | Amount (€) | Lead Investors | Notes | |---------------|------------------|--------------------------------|--------------------------------------------------| | June 2020 | ~€1.5M | Not publicly disclosed | Initial kickstart funding | | October 2021 | €10M | JME Ventures | Seed round for growth & product acceleration | | Dec 2021 | €12.5M total | EIC Fund | R&D support + scaling | | Nov 2022 | Undisclosed | EIT Digital | Further development of AI/quantum tech | | Oct 2023 | £100K (~€115K) | Innovate UK | Innovation support | | March 2024 | €25M | Columbus Venture Partners + EIC Fund et al.| Series A for market reach & capabilities | | Dec 2024 Undisclosed CDP Venture Capital Ongoing growth support | | March 2025 €67M Spanish Government / SETT Strategic co-investment |

Total Estimated Funds Raised: Approximately €116 million across all rounds up to early 2025.

Valuations

Public disclosures do not specify exact company valuations at each funding stage except that the Series A had a pre-money valuation around EUR ~80.9M based on available reports tied to the EUR25M raise. Other valuation details have not been publicly released.

Investors Overview

Key investors over time include: - JME Ventures — lead seed investor.

• European Innovation Council Fund — strategic public deep-tech investor involved across multiple rounds.
• Columbus Venture Partners — led largest Series A.
• Quantonation Ventures — early-stage specialist focusing on quantum tech.
• Redstone QAI Quantum Fund, Indi Partners, EASO Ventures, among others.

Additionally: - The Spanish government became an equity shareholder via SETT with a major co-investment of €67 million in March 2025 reflecting strong national backing for strategic technology leadership.

Summary of Funding or Exit Events Related to Multiverse Computing SL

Multiverse Computing’s key milestone events are primarily centered around its successful capital raises enabling rapid technological advancement in quantum-inspired AI software solutions focused on finance but expanding into energy, manufacturing etc.:

• Winning the European Innovation Council Accelerator program post Step2 submission October–December of year (assumed late in Q4 of FY21).
• Closing seed financing (€10m) shortly after initial success.
• Securing follow-on public/private funds from EU innovation programs during late FY21-FY22 period.
• Achieving oversubscribed large-scale Series A (€25m) round by early FY24 led by prominent VC players emphasizing global expansion ambitions especially into US markets.
• Recent massive government-backed investment (€67m) signaling confidence both domestically within Spain’s innovation ecosystem as well as boosting their competitive position internationally heading into mid-FY25.

No exit events such as IPO or acquisitions have been reported thus far.

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This comprehensive financial history highlights Multiverse Computing’s trajectory from startup phase through significant institutional backing supporting its emergence as one of Europe's leading quantum software companies specializing in practical applications using cutting-edge quantum-inspired approaches.

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Sources: https://multiversecomputing.com/resources/multiverse-computing-raises-over-subscribed-eur25-million-series-a-investment-round-to-advance
https://www.eu-startups.com/2025/03/spanish-government-raised-e67-million-for-multiverse-computing-ai-compression
https://siliconangle.com/ "Multiverse Computing raises..." Mar '24 article summary
https://kando.tech/company/multiverse-computing-sl
https://www.thesaasnews.com/news/multiverse-computing-closes-seed-round-october21
https://eic.ec.europa.eu/eic-fund/eic-fund-portfolios/multversecomputingsl_en
https://www.clay.com/dossier/multversecomputings/funding

3 The Press Releases

Overview of Multiverse Computing SL

Multiverse Computing SL, a leading quantum and quantum-inspired software company based in Spain, has made significant strides since receiving the EIC Accelerator funding in October 2021.

Company Advancements and Partnerships

• Partnerships: Multiverse Computing has formed notable partnerships to advance its quantum and AI capabilities. One such collaboration is with Mila, the world's largest academic research center in deep learning, to develop quantum and quantum-inspired methods for AI and ML, focusing initially on the biotech and pharmaceutical industries. Another key partnership is with Kinesis Network to optimize AI performance while reducing resource consumption, addressing environmental and financial challenges associated with AI.
• Technology Advancements: The company has developed advanced software like CompactifAI, which uses tensor networks to compress large AI models, such as Llama 3.1-8B and Llama 3.3-70B, by up to 80% with minimal precision loss. This technology significantly reduces energy consumption and development costs for large language models. Additionally, Multiverse Computing and Bundesdruckerei have utilized quantum-inspired solutions to enhance data privacy and fraud detection, achieving a 15% higher accuracy than current methods.
• Team Updates: Multiverse Computing has expanded its leadership team with the appointment of Mehdi Bozzo-Rey as Chief Revenue Officer to drive global growth. The company also opened an office in San Francisco, led by Chris Zaharias as Vice President of Sales, to accelerate adoption of its AI and quantum solutions in the U.S..
• Patents and Intellectual Property: In 2021, Multiverse Computing submitted 22 patent applications, demonstrating its commitment to innovation and protecting its intellectual property. The company has a portfolio of nearly 100 patents and over 40 research publications.
• Awards and Recognition: Multiverse Computing has been recognized as one of LinkedIn's Top Startups in Spain for 2024 and selected for the AWS Generative AI Accelerator program in 2024.

Funding and Government Support

• In early 2025, the Spanish government invested €67 million in Multiverse Computing, highlighting the company's success in utilizing European funds. This investment underscores the government's confidence in Multiverse Computing's AI model compression capabilities and its potential for growth.
• EIC Accelerator Funding: The company received EIC Accelerator funding in October 2021, which has supported its continued innovation and expansion in quantum and AI technologies.

Press Releases and Updates

Multiverse Computing regularly publishes press releases and updates on its achievements, partnerships, and technological advancements on its website. These releases cover topics such as new partnerships, product developments, and company expansions.

For instance, recent press releases include the company's participation in the AI House Davos 2025 and its collaboration with Kinesis Network to redefine AI optimization. Additionally, Multiverse Computing has been featured in various media outlets for its innovative solutions and industry recognitions.

References

multiversecomputing.com
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eu-startups.com
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thequantuminsider.com
science.org
thequantuminsider.com
multiversecomputing.com

4 The Technology Advancements

Multiverse Computing SL, based in Spain, is a leading company specializing in quantum-inspired artificial intelligence (AI) software solutions. Since receiving the European Innovation Council (EIC) Accelerator funding on October 6, 2021, the company has made significant advancements and demonstrated increased capabilities across several fronts.

Current Capabilities

• Multiverse Computing applies quantum and quantum-inspired AI to address complex industrial problems with practical applications delivering tangible value today. Their software platform integrates into industrial value chains to tackle critical production challenges effectively.
• The company is recognized globally for its leadership in Quantum AI and was listed among the world’s top 100 most promising AI companies by CB Insights in 2023.
• Its flagship technology includes CompactifAI, a cutting-edge compression tool that uses advanced quantum-inspired tensor networks to shrink large language models (LLMs), significantly reducing their size without notable accuracy loss. This compression reduces computational costs and energy consumption dramatically while enabling deployment on smaller devices like smartphones or VR glasses.

Advancements Since EIC ACCELERATOR Funding

Since their EIC funding award in late 2021:

• Multiverse Computing has developed CompactifAI further, achieving up to an 80% compression of popular LLMs such as Llama 3.1-8B and Llama 3.3-70B with almost no precision loss.
• The technology has demonstrated accelerations of up to 1000 times faster training speeds for these models through tensorization techniques that identify relevant model parts for effective compression.
• They have formed strategic partnerships to optimize AI performance sustainably; notably teaming up with Kinesis Network Inc. to reduce resource consumption and carbon footprint associated with AI workloads by combining Multiverse’s quantum-inspired algorithms and Kinesis' distributed compute optimization tools.

Market Demonstrations & Customer Engagements

• The company actively showcases its innovations at high-profile industry events such as AI House Davos during the World Economic Forum annual meeting where they discuss practical implementations of CompactifAI for cost-efficient AI deployment across enterprises.
• Their solutions have been adopted or piloted within varied sectors including financial services — leveraging their Monte Carlo asset valuation engine improvements post-EIC funding — manufacturing anomaly detection, cybersecurity anomaly detection enhancements via Bundesdruckerei collaboration demonstrating superior data privacy protection capabilities using quantum techniques (~15% higher accuracy).

Technology Improvements & New Features

Multiverse Computing's advances include:

Feature/Improvement	Description
CompactifAI Compression	Compresses large language models by up to ~90%, maintaining performance while drastically reducing costs
Quantum-Inspired Algorithms	Enhances speed & efficiency of LLM training/inference; reduces energy usage
Partnerships for Optimization	Collaboration with Kinesis Network offers integrated solutions tackling energy/resource efficiency
New Use Cases Expansion	Extending applications from finance into healthcare data security (TartaglIA), agriculture (AgrarIA), sustainable energy solutions

Additionally, they continue optimizing financial derivatives evaluation tools which are part of their Singularity platform — an early commercially successful product providing quantum-powered computational support tailored primarily toward banks and financial institutions since before EIC funding but enhanced afterward.

Intellectual Property & Publications

While specific details about new patent filings post-EIC award are limited publicly:

• Patent records show ongoing activity under "Multiverse Computing S.L." relating broadly to machine learning classifiers adjusted via advanced boosting methods consistent with their focus on algorithmic efficiency improvements .
• The firm also regularly publishes whitepapers and media releases discussing breakthroughs around efficient model training/compression though no direct clinical trials apply given their domain outside biomedical fields.

Funding Impact & Strategic Growth

Following the initial €12.5 million EIC Accelerator investment combined with previous seed rounds totaling over €20 million by end of 2021:

• In March 2024–2025 period, Multiverse secured additional significant financing including €25M investment led by venture partners focusing on expanding efficient LLM development.
• Most recently in March 2025 Spain’s government invested approximately €67 million (~$70M USD) through SETT aiming at scaling compacted language model technologies emphasizing reduced operational costs/energy use aligned strongly with European digital sovereignty ambitions.

This major public backing reflects confidence in Multiverse's technological progress since receiving its first major EIC support.

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Summary

Multiverse Computing SL from Spain has substantially enhanced its technological offerings since obtaining the EIC Accelerator funding on October 6th, 2021. They have improved key products like CompactifAI enabling drastic reductions in large-scale AI model sizes without sacrificing quality while demonstrating these efficiencies at global forums alongside market pilots particularly targeting enterprise clients across finance, manufacturing, cybersecurity domains. Strategic partnerships amplify these gains towards sustainability goals amid rapidly growing demand for low-energy intensive artificial intelligence systems.

Government co-investments confirm continued growth potential fueled by proven advancements validated through multiple scientific publications / whitepapers related to algorithmic innovations though detailed patent filings after October '21 remain sparse publicly.

Overall evidences depict a vibrant trajectory from early-stage funded startup towards becoming a pivotal player driving practical adoption of next-generation Quantum-AI hybrid computing technologies internationally.

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Sources

7 .https://siliconcanals.com/multverse-computing-receives12m/ 8 .https://www.patentguru.com/search?q=assignee:multverse+computng+s+l

5 The Partnerships and Customers

Multiverse Computing SL: Partnerships and Customers

Multiverse Computing SL, a Spanish company specializing in quantum and quantum-inspired AI, has been actively engaging in strategic partnerships and customer relationships since receiving EIC Accelerator funding in October 2021.

Partnerships

Customers

Multiverse Computing has an impressive customer base across various sectors, including:

• Moody’s Analytics
• Bosch
• BASF
• Iberdrola
• Crédit Agricole
• BBVA

These clients appreciate the efficiency and greener aspects of Multiverse Computing’s solutions.

New Partners and Customers

While there is no specific mention of new partners or customers since the EIC Accelerator funding, Multiverse Computing's ongoing partnerships and projects continue to position it as a leader in quantum and quantum-inspired AI solutions.

Nature and Purpose of New Relationships

The partnerships formed by Multiverse Computing are designed to leverage the strengths of both quantum hardware and software to solve complex real-world problems. These relationships are focused on co-innovation, joint development, and enhancing the adoption of quantum computing technologies across various sectors.

Market Positioning and Advancements

These partnerships and customer relationships will position Multiverse Computing SL as a leading innovator in the quantum AI market, enhancing its capabilities in delivering practical applications and tangible value. The collaborations will help in scaling its technology and advancing its offerings in quantum-inspired AI solutions, particularly in making large language models more efficient and environmentally friendly.

Technology Advancements and Scaling

The partnerships will contribute to technology advancements by integrating quantum processors with software solutions like Singularity SDK, enabling faster and more efficient problem-solving. Additionally, collaborations like the EU-funded AI-Boost project will further develop large-scale AI models using quantum-inspired techniques, contributing to significant reductions in training and operational costs while preserving performance. This will help Multiverse Computing scale its solutions more effectively across different industries.

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multiversecomputing.com multiversecomputing.com multiversecomputing.com meetiqm.com hpcwire.com siliconangle.com columbusvp.com multiversecomputing.com

6 The Hiring and Company Growth

Multiverse Computing SL, a Spanish quantum computing software company headquartered in San Sebastián, Spain, has experienced significant growth and team expansion since receiving the EIC Accelerator funding following their Step 3 interview success in October 2021.

Current Headcount and Team Size

As of 2024, Multiverse Computing employs approximately 155 full-time employees. The company is described as having over 160 full-time employees by late 2024, comprising about 40% PhDs and representing more than 43 nationalities. This indicates strong growth from earlier years and reflects a multicultural and highly skilled workforce.

Hiring Status and Growth

Multiverse Computing is actively growing. They are recognized as one of the top quantum AI companies globally (ranked among the 100 most promising AI companies by CB Insights in 2023) with ongoing recruitment efforts to expand their technical teams further. In particular, they have recently opened a new office in San Francisco to accelerate adoption of their quantum AI solutions in the US market—signifying geographic expansion alongside headcount growth.

Key Recent Hires

A notable recent leadership hire is Chris Zaharias as Vice President of Sales for the new US office. He brings extensive experience managing sales at multiple venture-funded startups, signaling a strategic move to boost commercial development internationally.

The company also recruited an Engineering Director who reports directly to the CTO. This role focuses on driving delivery on customer projects, managing talent allocation within teams, expanding intellectual property based on customer needs, and fostering cross-project synergies—all critical for scaling product development capacity.

Impact of New Team Members on Future Growth

The addition of senior roles such as VP Sales for US operations alongside technical leadership positions like Engineering Director highlights Multiverse’s strategy to scale both its commercial reach and R&D capabilities. These hires enable them to serve global markets better while innovating rapidly on flagship products like Singularity (quantum algorithms platform) and CompactifAI (a quantum-inspired AI model compression tool).

With nearly 100 patents filed or planned by end-2024 along with numerous scientific publications supporting innovation momentum, these team expansions position Multiverse Computing well toward maintaining technology leadership while accelerating revenue growth—which reportedly surpassed €10 million in late-stage projections for full-year 2023 compared with €2.9 million revenue from previous years .

Major Management or Founding Team Changes

There are no public records indicating major changes at founding or executive management levels since Enrique Lizaso Olmos remains CEO. He continues leading innovation efforts supported by key figures such as Chief Scientific Officer Román Orús.

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Summary Table

Aspect	Details
Current Headcount	~155 - over 160 employees (as of late-2024)
Hiring Status	Actively hiring; expanded into US market with new VP Sales appointment
Recent Key Hires	Chris Zaharias - VP Sales (US); Engineering Director reporting to CTO
Growth Since Funding	Revenue grew from €2.9M (2022) to projected >€10M (full-year forecasted for end-2023)
Impact of New Hires	Strengthen global sales & business development; enhance R&D delivery & IP expansion
Management Changes	No major changes; Enrique Lizaso Olmos continues as CEO

Multiverse Computing’s focused recruitment drives combined with international office openings underscore their commitment to scaling business operations globally while advancing cutting-edge quantum AI technologies that provide tangible benefits across finance, energy, manufacturing sectors among others.

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Sources

7 The Media Features and Publications

Media Features and Publications

Multiverse Computing SL, a Spanish quantum AI software company, has garnered significant media attention for its innovative solutions and achievements since receiving the EIC Accelerator funding in October 2021. The company's media features and publications highlight its advancements in quantum computing and AI optimization.

• Media Coverage: Multiverse Computing has been featured in various media outlets for its advancements in AI model compression and quantum-inspired solutions. It compressed Llama models by 80% with minimal precision loss using its CompactifAI technology, showcasing its capability to make AI more efficient and sustainablemultiversecomputing.com. Additionally, President Pedro Sánchez of Spain acknowledged Multiverse Computing as a successful example of utilizing European funds for AI innovationmultiversecomputing.com.
• Publications: The company has been recognized by LinkedIn as one of the Top Startups 2024 of Spain, highlighting its growth and influence in the AI sectormultiversecomputing.commultiversecomputing.com.

Content from Publications

Publications have emphasized Multiverse Computing's role in developing quantum software solutions for real-world problems, particularly in finance and AI optimization. The company's expertise in quantum computing and AI has led to collaborations with major banks and participation in significant AI-related events.

AI and Quantum Computing: Articles discuss how Multiverse Computing is addressing pressing challenges in AI, such as reducing the environmental and financial costs associated with large language models (LLMs). The company uses quantum-inspired techniques to optimize AI models without compromising performancesifted.eu.

Podcasts and Interviews

Members of the Multiverse Computing team have participated in several interviews and podcasts, discussing the company's focus on practical applications of quantum and quantum-inspired AI:

• Interviews: Esperanza Cuenca Gomez, Head of Strategy and Outreach, was interviewed by Yuval Boger, discussing the company's practical applications and the implications of quantum technologypodcast.yboger.com.
• Podcasts: Sam Mugel, CTO of Multiverse Computing, spoke on the Quantum Tech Pod, highlighting the company's expertise in applying quantum and quantum-inspired solutions to complex financial problemspodcasts.apple.com.

Conferences and Fair Visits

Multiverse Computing has actively participated in several notable conferences and events, showcasing its innovative solutions and engaging with industry leaders:

• AI House Davos 2025: The company attended AI House Davos 2025, participating in panel discussions on AI transformation and optimization. Victor Gaspar, Chief Sales Officer, highlighted CompactifAI as a solution for efficient AI implementationmultiversecomputing.com.
• AWS Generative AI Accelerator: Multiverse Computing was selected for the AWS Generative AI Accelerator in September 2024, further solidifying its position in the AI sectormultiversecomputing.commultiversecomputing.com.

Event Involvement

Multiverse Computing is actively involved in various events and collaborations that focus on advancing AI and quantum computing:

• EU-Funded AI-Boost Project: The company was selected for the EU-funded AI-Boost project, aiming to develop large-scale AI models using quantum AImultiversecomputing.com.
• Partnerships and Collaborations: Multiverse Computing collaborates with organizations like Kinesis Network to optimize AI while mitigating environmental and financial costsmultiversecomputing.com.

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