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Multiverse Computing

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Multiverse Computing is a quantum computing software company headquartered in San Sebastian, Spain, with offices in Paris, Munich, London, Toronto and Sherbrooke, Canada. The Spanish startup applies quantum and quantum-inspired algorithms to problems in energy, logistics, manufacturing, mobility, life sciences, finance, cybersecurity, chemistry and aerospace.[1][2] Its flagship product, Singularity, is an industrial quantum and quantum-inspired software platform focused on solving real-world challenges for large enterprises. Among other features, Singularity’s user interface incorporates tools such as Microsoft Excel plug-ins that allow use of the platform’s core algorithms without prior knowledge of quantum computing.[3]

Multiverse Computing
IndustryQuantum Computing
Founded2019
Headquarters
San Sebastián
,
Spain
Key people
Enrique Lizaso, Román Orús, Alfonso Rubio, Sam Mugel
ProductsSingularity
Number of employees
90
Websitemultiversecomputing.com

History

Multiverse was co-founded in 2019 by Enrique Lizaso, Román Orús, Alfonso Rubio and Sam Mugel.[4] Lizaso, treasurer and member of the governing board of the European Quantum Industry Consortium, and Orús, Ikerbasque Research Professor at DIPC and former Marie Curie Fellow at the Max Planck Institute of Quantum Optics, were chatting on WhatsApp when the idea for a quantum computing company for finance was born.[1]

In 2021, the company announced €12.5 million in funding from the European Innovation Council Accelerator program.[4] In April 2022, the company partnered with the Bank of Canada to explore how quantum computing can provide new insights into economic problems via simulation of cryptocurrency adoption. This research made Canada the first G7 country to explore the model of complex networks and cryptocurrencies through quantum computing.[5] That July, Multiverse partnered with Bosch to integrate quantum algorithms into digital twin simulation workflow to scale simulations more efficiently and improve the accuracy of defect detection.[6] Later that year, BASF used Multiverse’s Singularity to develop models for foreign exchange trading optimization between U.S. and EU currency to improve profits.[7]

Additional organizations exploring Multiverse’s Singularity platform include BBVA, Crédit Agricole CIB, and Repsol.[1][4][8] In 2022, Gartner recognized Multiverse Computing as a “Gartner Cool Vendor” for offering “quantum software technologies and services that enable integration of quantum solutions exploration in the financial services industry.”[9] Today, Multiverse is one of the largest quantum software companies in the world and one of the fastest-growing deep-tech companies in Spain having raised over €27.3 million.[1][4][8]

Technology

Multiverse Computing’s algorithms have been implemented across verticals such as energy, manufacturing, logistics, finance, chemistry, space, and cybersecurity.[1] On top of quantum machine learning and optimization algorithms, the company also uses quantum-inspired tensor networks to boost efficiency in solving industrial challenges.[10] Tensor networks are frequently used to model quantum systems, specifically quantum systems of many particles, and more recently are also being used model artificial intelligence systems.[11][12]

In 2023, Credit Agricole CIB released the results of multiple experiments with Multiverse that explored the use of quantum and quantum-inspired computing for the valuation of derivatives as well as solving a concrete problem – the anticipation of credit rating downgrades. According to the corporate and investment bank, “these two proofs of concept demonstrated the potential and reality of quantum computing for finance, despite these technologies still being in their infancy.”[13]

References

  1. ^ a b c d e Schenker, Jennifer L. "Startup Of The Week: Multiverse Computing/ref>". The Innovator. Retrieved 4 April 2023.
  2. ^ Campbell, Charlie. "Quantum Could Solve Countless Problems—And Create New Ones". TIME. Retrieved 4 April 2023.
  3. ^ Finke, Doug. "Multiverse Computing Introduces a New Version of Their Singularity Portfolio Optimization Software - Quantum Computing Report". The Quantum Computing Report. Retrieved 4 April 2023.
  4. ^ a b c d Singh, Vishal. "Spain-Based Startup Multiverse Computing Receives €12.5M from EIC to Bring Quantum Computing to Finance Companies". Silicon Canals. Retrieved 4 April 2023.
  5. ^ Smith, Tim. "Spain's Fastest Growing Startups Outside of Madrid and Barcelona". Sifted. Retrieved 4 April 2023.
  6. ^ "Applications of Tensor Networks in Quantum Physics". Tensor Network. Flatiron Institute. Retrieved 4 April 2023.
  7. ^ Orús, Román (September 2019). "Tensor networks for complex quantum systems". Nat Rev Phys. 1: 538–550. doi:10.1038/s42254-019-0086-7.
  8. ^ a b Reyes, J A; Stoudemire, E M (14 July 2021). "Multi-scale tensor network architecture for machine learning". Mach. Learn.:Sci. Technol. 2 (3). IOP Publishing Ltd. doi:10.1088/2632-2153/abffe8.
  9. ^ Hughes, Stephanie. "Bank of Canada Taps Quantum Computing Startup to Tackle Complex Financial Problems". Financial Post. Retrieved 4 April 2023.
  10. ^ Lawton, George. "Bosch's New Partnership Aims to Explore Quantum Digital Twins". VentureBeat. Retrieved 4 April 2023.
  11. ^ Baker, Berenice. "BASF and Multiverse to Develop Quantum Forex Models". Quantum Business News. Retrieved 4 April 2023.
  12. ^ Russell, John. "Multiverse Computing Named a 2022 Gartner Cool Vendor". HPCwire. Retrieved 4 April 2023.
  13. ^ Saran, Cliff. "Crédit Agricole Tests Quantum in Finance". Computer Weekly. Retrieved 4 April 2023.
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