BRUSSELS, BELGIUM, February 22, 2024 – Multiverse Computing, a global leader in value-based quantum computing solutions, won the 2024 Future Unicorn award from DIGITALEUROPE, a leading trade association representing digitally transforming 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, Chief Financial Officer, and Iraia Ibarzabal, Chief Growth Officer, attended the ceremony and accepted the award for Multiverse Computing. 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 brilliant and hard-working team that includes 130 people from 26 countries,” Olmos said. “The researchers, computer scientists and business experts at Multiverse represent the best of Europe’s innovators who are building solutions to the world’s biggest problems.”
Multiverse is working with clients in finance, energy, cybersecurity, manufacturing, logistics, space, life, health and defense to build quantum and quantum-inspired solutions for optimization and other use cases. The company recently announced a materials science R&D project funded by Germany’s 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 our company’s potential value to investors as well as society, as well as the importance of the European quantum industry in general,” Olmos said.
Three main criteria for companies considered for the Future Unicorn award include
- Positive impact on society
- Commitment to green values and gender diversity
- Emphasis on digital skills, cyber resilience, digital health and AI
An expert jury selected three finalists from the initial group of 10 potential unicorns. The panel considered growth potential and innovation for selecting the 2024 winner. The jury included leaders from Nokia, NATO, Invest Europe, Veriff and the European Innovation Council.
The other two Future Unicorn finalists were Aerospacelab from Belgium and Veo from Denmark. Iliana Ivanova, EU Commissioner for Innovation, Research, Culture, Education and Youth, announced the winner at the Masters of Digital conference.
The Future Unicorns program is in its seventh year. Cecilia Bonefeld-Dahl, director general of DIGITALEUROPE, said the goal for the Future Unicorn program is to identify future tech giants with roots in Europe and for the region to double the number of unicorns by 2030.
According to CB Insights, there are 1,200 private companies in the Global Unicorn Club, with a total value of $3.8 trillion. Only 4.5% are from the EU.
DIGITALEUROPE and 41 associated national trade organizations identify the shortlist of 10 companies. DIGITALEUROPE is a trade association that works to attract tech companies and strengthen Europe’s tech workforce. The organization’s membership represents more than 45,000 businesses.
About Multiverse Computing
Multiverse Computing is a leading quantum software company that applies quantum and quantum-inspired solutions to tackle 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 current quantum devices as well as classical high-performance computers. Its flagship product, Singularity, allows professionals across all industries to leverage quantum computing to speed up and improve the accuracy of optimization and AI models with existing and familiar software tools. The company also has developed CompactifAI, a compressor which uses quantum-inspired tensor networks to make AI systems such as large language models more efficient and portable. In addition to finance and AI, Multiverse serves enterprises in the mobility, energy, life sciences and industry 4.0 sectors. The company is based in San Sebastian, Spain, with branches in Toronto, Paris and Munich. For more information about Singularity and CompactifAI, contact Victor Gaspar