San Sebastian, Spain, January 18, 2023 – Multiverse Computing, a global leader in value-based quantum computing solutions, has been recognized as one of the top 10 technology startups in Europe as a nominee for the 2024 Future Unicorn Award from DIGITALEUROPE, a leading… In the field of technology. A trade association representing digitally manufacturing industries in Europe.
Future Unicorns are companies known to have the potential to reach $1 billion in value. Multiverse was selected as part of this elite group alongside companies working in artificial vision, large language models, and connected vehicles.
The three finalists will be announced in early February. Ileana Ivanova, EU Commissioner for Innovation, Research, Culture, Education and Youth, will announce the winner on February 21 at the Masters of Digital conference in Brussels and online.
Multiverse works with entities in the UK and EU as well as North America in finance, energy, aerospace, manufacturing and defence. And in 2024, company leaders will speak at the Consumer Electronics Show (CES) in Las Vegas and at the AI House at the World Economic Forum in Davos to discuss how quantum algorithms can solve real-world business problems.
“We appreciate this recognition of the significant progress we made in 2023, which included doubling revenue year-over-year and launching CompactifAI, a compressor that makes AI models more efficient,” said Enrique Lizaso Olmos. “This is in addition to registering 95 patents and publishing 28 scientific papers since the company was established in 2019.”
This year, Multiverse Computing is developing standards to clearly demonstrate the effectiveness of CompactifAI and building new quantum-inspired software to make large language models more portable and to open up new use cases for this powerful technology.
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.
“This year’s impressive shortlist of top scale-ups clearly reflects the power of European innovators to deliver solutions and address Europe’s most pressing challenges,” Bonfield-Dahl said. “We believe these companies have what it takes to become Europe's next technology giant.”
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 at [email protected].
Source: Computing the Multiverse
