Quantum Computing Startup Multiverse Computing Closes €10 Million Investment Round

Multiverse Computing, the first quantum computing startup dedicated to finance, today announced it has closed a seed funding round of €10 million (USD $11.55 million).

Multiverse

Multiverse Computing, the first quantum computing startup dedicated to finance, today announced it has closed a seed funding round of €10 million (USD $11.55 million).

Multiverse Computing developed its flagship product Singularity® for companies in the financial industry seeking a strong competitive advantage by applying quantum computing solutions. The product enables financial professionals to run ultra-efficient quantum algorithms on any quantum computer from a simple spreadsheet to address highly complex problems, such as portfolio optimization and fraud detection, without requiring any knowledge of quantum computers.

The round was led by JME Ventures and also included Quantonation, EASO Ventures, Inveready, CLAVE Capital (Mondragón Fondo de Promoción), Ikerlan, LKS, Penja Strategy, Seed Gipuzkoa and Ezten Venture Capital Fund.

Read full article by Yahoo! Finance here