AI Unicorn Funding
Spanish AI Scale-up Multiverse Computing Secures €500M Series C, Reaches Unicorn Valuation
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Key Points
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The Series C round is valued at around €1.5–€1.7 billion pre-money, with total funding now surpassing €701.3 million (roughly $800 million) including prior rounds.
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The round is co-led by Forgepoint Capital International, BNPP SIVF, and Bullhound, with a broad roster of participants including Santander Alternative Investments, HP Inc., Orange Ventures, Scania Invest, NAventures, Qatar Development Bank, Basque Hazten Scale-Up Fund, Kutxa Fundazioa, and others; advisory work for the deal was provided by JP Morgan and Santander CIB.
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CompactifAI is described as a quantum-inspired model compression technology that uses tensor networks to shrink large language models, enabling up to a 95% reduction in model size with minimal accuracy loss for on-device or edge/in-sovereign data-center deployment.
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The investment narrative emphasizes two converging theses: AI on the edge (devices and on-premises) and efficient, sovereign AI at scale in controlled facilities, aligning with a goal to run powerful AI without dependence on hyperscale cloud infrastructure.
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Multiverse Computing is headquartered in Donostia (San Sebastián), Spain, and the round underscores plans for broader European and global expansion of its edge- and sovereign-AI platform.
Multiverse Computing has closed a €500 million ($570 million) Series C round, vaulting the Spanish AI startup to unicorn status at a pre-money valuation of €1.5 billion ($1.7 billion), according to EU Startups. The raise brings total funding to roughly $800 million — a fivefold jump from its Series B valuation, TipRanks reported.
The San Sebastián-based company makes AI compression software that shrinks large language models by up to 95% — letting them run on local devices or private data centers without relying on cloud giants. The Next Web noted the round targets a market hungry for cheaper, more private AI.
A Star-Studded Investor List Backs the Deal
The round was co-led by Forgepoint Capital International, BNPP SIVF, and Bullhound, according to The SaaS News. A wide roster of strategic backers joined them: HP Inc., Santander Alternative Investments, Orange Ventures, Scania Invest, Qatar Development Bank, and Canada's NAVentures, among others. JP Morgan and Santander CIB advised on the deal.
The mix of corporate tech firms, sovereign funds, and bank-backed ventures is no accident. Multiverse Computing is pitching to industries that want powerful AI without handing data to Amazon, Google, or Microsoft. Government-linked investors from Qatar and the Basque Country signal growing state interest in sovereign AI capacity, EU Startups noted.
CompactifAI Squeezes Giant AI Models Down to Size
The company's flagship product is CompactifAI. It uses a math technique called tensor networks — borrowed from quantum physics — to compress large language models. The result: models up to 95% smaller, with minimal loss in accuracy, FinSMEs reported. That means a model that once needed a data center can now run on a laptop or a factory floor device.
This matters because running AI on the cloud is expensive and raises privacy concerns. CompactifAI lets companies keep data on-site. A hospital can run an AI diagnostic tool without sending patient records to a third-party server. A defense contractor can run models on a classified network. That is the core pitch Multiverse Computing is making to enterprise buyers.
Two Big Bets: Edge AI and Sovereign Data Centers
Multiverse Computing is chasing two trends at once. First, AI on the edge — running models directly on phones, sensors, or on-premises servers. Second, sovereign AI — processing data inside government-approved facilities that never touch foreign cloud infrastructure, according to The Next Web. Both trends are accelerating as regulators in Europe and beyond push for data localization.
The company says its approach cuts compute needs dramatically. Less compute means lower energy bills and smaller carbon footprints. That message lands well with European enterprises facing strict sustainability rules. TipRanks described the funding as a move to "scale its efficient and sovereign AI platform" globally, with Europe as the primary growth market.
Spain Produces Its Newest Tech Unicorn
Multiverse Computing is headquartered in Donostia, the Basque name for San Sebastián. Its unicorn milestone — a valuation above $1 billion — is a rare win for Spanish deep tech. The €1.5 billion pre-money figure is a fivefold increase from its Series B, EU Startups reported, reflecting rapid revenue growth and strong enterprise demand.
The company plans to use the funds for geographic expansion and to grow its AI training and upskilling services for enterprise clients. With over $800 million raised in total, Multiverse Computing now has the firepower to compete for large contracts across Europe and beyond, The SaaS News noted.
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