Multiverse Computing Expands in Italy with CDP Venture Capital Investment
Deal News | Dec 04, 2024 | EIN
Multiverse Computing, a leader in quantum and quantum-inspired AI software, has announced an investment from CDP Venture Capital as part of its Series A funding round. This investment, conducted through CDP's Corporate Partners I fund, is designated to boost Multiverse's expansion efforts in Italy. The fund is supported by notable Italian corporates such as Baker Hughes, BNL BNP Paribas, Edison, and others. While financial specifics are undisclosed, the funds will be used to enhance Multiverse's commercial presence in Italy, particularly in Milan, and to foster partnerships in the country. The investment aligns with Multiverse's ongoing projects with CINECA's EuroHPC and Leonard supercomputer, as well as a collaboration with Leonardo for developing quantum-inspired predictive maintenance algorithms for aircraft systems. Multiverse Computing has been active in Italy's quantum community, engaging with top educational institutions to drive quantum AI innovation. The collaboration with CDP Venture Capital underscores a shared vision of positioning Italy as a hub of technological advancement and fostering a robust ecosystem for quantum computing.
Sectors
- Quantum Computing
- Venture Capital
- Artificial Intelligence
Geography
- Italy – CDP Venture Capital is an Italian asset management company, and the investment is targeted at expanding operations in Italy.
- Spain – Multiverse Computing's headquarters is located in San Sebastian, Spain.
Industry
- Quantum Computing – Multiverse Computing specializes in quantum and quantum-inspired AI software solutions, making this industry relevant.
- Venture Capital – CDP Venture Capital's investment in Multiverse as part of a Series A round categorizes this aspect of the article in the venture capital industry.
- Artificial Intelligence – Multiverse Computing is a leader in AI software development, specifically in quantum-inspired AI solutions.
Financials
- Undisclosed – Financial details of the investment were not revealed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Multiverse Computing | Target Company | Company | A global leader in quantum and quantum-inspired AI software solutions. |
| CDP Venture Capital | Investor | Company | Italy's largest venture capital investor, part of CDP Equity and Invitalia, managing various funds aimed at boosting innovation. |
| Baker Hughes, BNL BNP Paribas, Edison, GPI, Italgas, Snam, Terna Forward | Limited Partners | Companies | Major Italian corporates participating in Corporate Partners I fund. |
| Leonardo | Partner | Company | An Italian multinational company specializing in aerospace, defense, and security, collaborating with Multiverse on predictive maintenance algorithms. |
| CINECA | Partner | Consortium | A large computing consortium in Italy collaborating with Multiverse on advanced projects involving the Leonardo supercomputer. |
| EuroHPC | Project Partner | Consortium | European High-Performance Computing Joint Undertaking working with Multiverse on benchmarking AI models. |