Multiverse Computing secures $570mn structured around two converging themes

Sovereign and efficient AI company Multiverse Computing has announced it has secured $570mn for its Series C funding round, giving the company a pre-money valuation of USD 1.7bn. The round will fund the expansion of Multiverse Computing’s library of the world’s most efficient models, continued research and development on proprietary algorithms, strategic investments in sovereign AI gigafactory infrastructure (and the software stack needed to support deployments) and establishing a stronger presence in markets such as East Asia, the United States, Canada, Southeast Asia and the Middle East.

Two converging theses
The Spanish company structured the round around two converging theses – AI on the edge and efficient and sovereign AI at scale. The first theses is based on a belief, held by device manufacturers and infrastructure operators, that the next generation of AI has the potential to run directly on devices and not only through data centres. In addition, according to the company, Multiverse’s CompactifAI, is the technology that can make it possible.

The second theses, stems from a view held by sovereign and infrastructure investors that the AI industry’s path forward runs through facilities that do twice the work on half the energy and, according to the company, are of the belief that Multiverse and its CompactifAI models are the software stack that are positioned to power them.

Investors
The round  co-led by Forgepoint Capital International, BNPP SIVF and Bullhound Capital, with additional commitments to date from investors including Santander Alternative Investments, Tikehau Capital, HP Inc., Orange Ventures, Scania Invest, NAventures (National Bank of Canada’s corporate venture arm), Qatar Development Bank, Zouk Capital, SETT, EIC Fund, the Basque Government’s Hazten Scale-Up Fund (Gestión de Capital Riesgo de Euskadi – Grupo Spri), and Kutxa Fundazioa.

The Series C round, advised by JP Morgan and Santander CIB, is expected to bring total funding to USD 800mn, inclusive of prior rounds, and may remain open to select additional strategic investors.