Donostia-San Sebastián, Spain, 4 December 2024 —Multiverse Computing, a global leader in value-based quantum and quantum-inspired AI software solutions, today announced an investment from Italy’s largest venture capital investor, CDP Venture Capital Sgr, as part of the company’s Series A round. The investment was made through two segments of the Corporate Partners I fund – ServiceTech and Energytech – a corporate venture capital fund backed by several leading Italian companies as limited partners, including Baker Hughes, BNL BNP Paribas, Edison, GPI Spa, Italgas, Snam and Terna Forward.

The new funds will support the commercial expansion of Multiverse Computing in Italy, including the growth of its Milan office, the establishment of new public and private partnerships and the attraction of new talent.

Multiverse Computing also plans to use these new funds to expand its existing partnerships, including a project with EuroHPC and the Leonardo supercomputer based at the CINECA data centre in Bologna, a computing consortium in north-eastern Italy involving 103 public institutions. Multiverse Computing has received GPU node hours to run additional tests and improve the performance of CompactifAI compared to the most advanced models, such as those in the LlaMA family. The project aims to test advanced tensor network compression techniques for LLMs and validate their performance and energy efficiency compared to the original model.

"We’ve been working with Italian companies and universities for years, and starting today we’ll be able to forge even stronger and more innovative collaborations based on our quantum AI software", said Enrique Lizaso Olmos, CEO and co-founder of Multiverse Computing. “We also want to use CompactifAI to help industry leaders develop new use cases for more compact and efficient large language models”.

Multiverse Computing is also working with Leonardo, the Italian multinational specialising in aerospace, defence and security, to develop advanced predictive maintenance algorithms for aircraft. The multi-year project uses quantum and quantum-inspired AI technology to perform safe and reliable predictive maintenance of aeronautical systems. This initiative is part of a broader EU project to create technological tools that support the digitalisation and automation of European industry.

CDP Venture Capital invests in companies of national strategic interest to Italy and provides capital to support initiatives in key sectors to promote innovation.

"The investment in Multiverse Computing, an excellence in the field of quantum computing and AI, is part of our broader objective of promoting innovation and new technologies in Italy by supporting visionary companies and fostering collaboration with Italian businesses", commented Agostino Scornajenchi, Chief Executive Officer and General Manager of CDP Venture Capital. "This investment represents a strategic step towards developing partnerships and projects with a positive impact on our country, helping to solidify Italy's role as a hub of innovation and technological progress".

In recent years, Multiverse Computing has developed strong relationships with the Italian quantum computing community, including sponsorship of the Digital Innovation Observatory on Quantum Computing at the Milan Polytechnic School of Management and the 2024 Quantum Summer School organised by the Aldo Moro University of Bari. Gianni Del Bimbo, Chief Operations Officer of Multiverse Computing, has taken part in several events at the Milan Observatory, sharing reports and market trends with attendees.

“The quantum research communities at Italian universities such as Milan Polytechnic and Aldo Moro University of Bari have shown enormous potential for making significant progress in quantum AI applications across various sectors", said Del Bimbo. “With support from CDP Venture Capital, we intend to collaborate with these communities to boost the Italian quantum ecosystem by developing practical use cases for quantum AI”.