Spain-based quantum software company Multiverse Computing has secured up to $570m (€500m) in a Series C funding round, with a pre-money valuation of $1.7bn (€1.5bn).
The round, which has attracted commitments from multiple investors, is co-led by Forgepoint Capital International, BNPP SIVF, and Bullhound Capital.
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Other participating investors include Santander Alternative Investments, HP, Tikehau Capital, Orange Ventures, NAventures, Scania Invest, Qatar Development Bank, SETT, Zouk Capital, the Basque Government’s Hazten Scale-Up Fund, EIC Fund, and Kutxa Fundazioa.
JP Morgan and Santander CIB acted as advisers for the round, which is expected to bring total funding to $800m, including prior rounds and may remain open to additional select strategic investors.
The company is focusing its fundraising around two central themes. One area is the development of AI capabilities on edge devices, addressing the demand from device manufacturers and infrastructure operators to run AI locally rather than relying solely on data centres.
The technology at the centre of this, called CompactifAI, is described by the company as enabling such deployments.
The other focus is efficient and sovereign AI at scale, an area of interest for sovereign and infrastructure investors seeking to improve energy efficiency in AI computing.
Multiverse Computing co-founder and CEO Enrique Lizaso said: “The AI industry has accepted a false constraint for years — that powerful models require expensive infrastructure. That constraint is gone.
“We have proven that AI can run at full performance on a smartphone, inside a sovereign data centre, on a factory floor with no cloud connection. This round is the moment we scale that proof across every industry that needs it.”
The company’s platform uses CompactifAI, a technology developed under the supervision of co-founder and chief scientific officer Dr Román Orús, which applies tensor networks from quantum physics to compress AI model size by 80%-95%.
According to Multiverse, this results in minimal loss of accuracy while reducing energy consumption and latency.
The software can be configured to decide whether workloads should be processed locally or sent to the cloud.
A broader software layer is also being developed to manage model compression, GPU orchestration, and control for next-generation AI factories and data centres.
Forgepoint Capital International managing director and partner Damien Henault said: “Multiverse sits at the intersection of the infrastructure and the application layers and has evolved from being the leading downstream LLM compression technology to becoming a complete AI foundry and Operating System.
“It is the only company we’ve seen that has both the technical foundation and the commercial traction to be that critical platform.”
Since its Series B round in June 2025, Multiverse Computing reports more than a tenfold growth in annualised revenue and a 96-fold year-on-year increase in Q1 2026 sales.
The company states its technology is already being deployed across millions of devices and systems, including in sectors such as drones, vehicles, cameras, and telecommunications, with wider embedding planned for AI PCs.
Its customer and partner base includes firms such as Allianz, Bosch, Bank of Canada, Iberdrola, PwC, Indra, and Telefónica.
Proceeds from the Series C fundraising will support the expansion of Multiverse’s suite of compressed AI models, continued research and development, and strategic investment in AI infrastructure.
The funding will also be used to scale the company’s presence in regions including East Asia, the Middle East, Southeast Asia, Canada, and the US.
