Multiverse Computing, the Spanish scaleup building tools to reduce compute requirements of large AI models, has announced it is targeting a €500m Series C at a post-money valuation of €2bn. The round, co-led by Forgepoint Capital, Bullhound Capital and BNP Paribas's Solar Impulse Venture Fund, includes commitments from the European Innovation Council Fund, SET T, Qatar Development Bank, NAVentures, Santander Alternative Investments, HP Inc and Orange Ventures. It will bring total funding to more than €700m.

Headquartered in Donostia, Multiverse has developed Compactif AI, which leverages quantum-inspired methodology to compress large AI models by up to 95% with little accuracy loss. "The AI industry has accepted a false constraint for years — that powerful models require expensive infrastructure," said cofounder and CEO Enrique Lizaso. "That constraint is gone." The company says its models run on smartphones, sovereign data centers, and factory floors without cloud connection.

Multiverse counts over 100 customers across Europe and North America, including Bank of Canada, Bosch, Telefónica and Allianz. The company targets €200m in annual recurring revenue in 2026, having grown annualised revenue more than 10x year-over-year. Fresh capital will expand its library of compressed models, accelerate R&D, invest in AI infrastructure, and grow presence in Asia, the Middle East and North America.