Brussels, 22 February 2024 – Multiverse Computing, the global leader in value-based quantum computing solutions, has won the 2024 Future Unicorn Award from DIGITALEUROPE, a leading trade association representing digitally transformed industries in Europe. The trade group selected Multiverse as the winner in recognition of the private company's potential to be valued at $1 billion.
Enrique Lizaso Olmos, Co-Founder and CEO of Multiverse Computing, Marta Garcia, CFO, and Iraya Ibarzabal, Director of Growth, attended the ceremony and received the Multiverse Computing Award. Olmos said the award is an important vote of confidence for Multiverse and other European quantum startups.
“We are very proud to accept this award for our amazing and hardworking team of 130 people from 26 countries,” Olmos said. “The researchers, computer scientists and business experts at Multiverse represent Europe's best innovators building solutions to the world's biggest problems.”
Multiverse works with customers in finance, energy, cybersecurity, manufacturing, logistics, space, life, health, and defense to build quantum-inspired solutions for optimization and other use cases. The company recently announced a materials science R&D project funded by the German Aerospace Center's Quantum Computing Initiative. Multiverse also recently launched CompactifAI, which uses tensor networks to make large language models smaller and more efficient.
“We appreciate the recognition of the potential value of our company to investors and society, as well as the importance of the European quantum industry in general,” Olmos said.
Three main criteria for companies being considered for the Future Unicorn Award include:
- Positive impact on society
- Commitment to green values and gender diversity
- Focus on digital skills, cyber resilience, digital health and artificial intelligence
An expert jury selected three finalists from the initial pool of 10 potential monocytes. The panel considered the potential for growth and innovation to select the 2024 winner. The judging panel included leaders from Nokia, NATO, Invest Europe, Veriff and the European Innovation Council.
The other two Future Unicorn finalists are Aerospacelab from Belgium and Veo from Denmark. Ileana Ivanova, EU Commissioner for Innovation, Research, Culture, Education and Youth, announced the winner at the Masters in Digital conference.
The Future Unicorns program is in its seventh year. The goal of the Future Unicorn program is to identify future technology giants with roots in Europe, and for the region to double the number of unicorns by 2030, said Cecilia Bonfield Dahl, Managing Director of DIGITALEUROPE.
According to CB Insights, there are 1,200 private companies in the global unicorn club, with a combined value of $3.8 trillion. Only 4.5% are from the European Union.
DIGITALEUROPE and 41 associated national trade organizations determine the shortlist of 10 companies. DIGITALEUROPE is a trade association working to attract technology companies and strengthen Europe's technology workforce. The organization's membership represents more than 45,000 companies.
About multiverse computing
Multiverse Computing is a leading quantum software company that applies quantum-inspired solutions to address complex problems in finance, banking, manufacturing, energy and cybersecurity to deliver value today and enable a more resilient and prosperous economy. The company's expertise in quantum algorithms and quantum-inspired algorithms means it can secure maximum results from existing quantum devices as well as high-performance classical computers. Its flagship product, Singularity, allows professionals across all industries to leverage quantum computing to accelerate and improve the accuracy of optimization and AI models using existing, familiar software tools. The company also developed CompactifAI, a compressor that uses quantum-inspired tensor networks to make AI systems like large language models more efficient and portable. In addition to finance and AI, Multiverse serves organizations in the mobility, energy, life sciences and Industry 4.0 sectors. The company is headquartered in San Sebastian, Spain, with branches in Toronto, Paris and Munich. For more information about Singularity and CompactifAI, contact Victor Gaspar.
Source: Computing the Multiverse
