Multiverse Computing consolidates the Basque Country as a European leader in quantum software and artificial intelligence

The Basque Government has supported Multiverse Computing since its inception, creating a climate of institutional support which, combined with the project’s potential, has attracted Basque and international investors to the latest round of investment, which closed at €189 million.

Multiverse Computing, which emerged from BIC Gipuzkoa, a public centre for the promotion of entrepreneurial, innovative and scientific-technological projects of the Basque Government and the Provincial Council of Gipuzkoa, is an example of the contribution that the Basque Country can make to the reindustrialisation process of the European Union.

Multiverse Computing, a San Sebastian-based company specialising in quantum software and artificial intelligence, has successfully closed its third round of investment, amounting to €189 million. This ensures the company’s future growth and consolidates the Basque Country – and especially Gipuzkoa – as a benchmark in quantum and artificial intelligence.

The Basque Government’s Minister for Industry, Energy Transition and Sustainability, Mikel Jauregi, visited the company’s facilities at the Donostia Campus of the Basque Country Technology Park, where he met with its two promoters: CEO Enrique Lizaso and Scientific Director Román Orús. Also participating in the visit were Zigor Urkiaga and Arrate Aranbarri, president and general manager of the SPRI Group’s Basque Venture Capital Management Company, and Marisa Arriola, director of BIC Gipuzkoa.

During the visit, the success of the new round of financing was commemorated, in which the Basque Government participated through EZTEN FCR and SEED GIPUZKOA SCR, funds managed by the Basque Venture Capital Management Company, with a contribution of 4.3 million euros. Added to this is significant institutional support for Multiverse Computing which, together with the company’s great potential, has made it possible to proactively attract other investors to join the project. In this case, EKARPEN PRIVATE EQUITY has joined as a new Basque investor with €4.9 million, and at the international level, leading players such as GP BULLHOUND CAPITAL and HP R&D HOLDING have contributed €55 million. Basque investment (EZTEN FCR and SEED GIPUZKOA SCR) totals €5.8 million, which, together with the contribution from EKARPEN (€4.9 million) and KUTXA FUNDAZIOA (€3.2 million) in this round, brings the total invested in the company since its inception to €13.9 million.

As Councillor Mikel Jauregi pointed out, ‘we are talking about a Basque company and a successful business project that is purely Basque’. Today, the percentage of shares in the company held by all investors in the Basque Country is close to 10%, which, together with the percentage held by its Basque promoters, exceeds 35%. ‘This guarantees the company’s roots in the Basque Country, and the investments made are mainly aimed at growth in the Basque Country, from investment in productive assets, such as top-level processors, to expand capacity, to the creation of high-quality, highly skilled jobs. We are talking about 300 direct jobs in Donostia and 1,000 indirect jobs in the surrounding area.’

“Founded in 2019 in Donostia, Multiverse Computing is a hidden champion of our industry. It is one of those so-called European unicorns capable of driving Basque industrial transformation while demonstrating our country’s firm commitment to being a leader in sectors critical to the EU. It represents one of the industrial sectors of the future established in the Industry Plan – Basque Country 2030 that we presented this week, namely Advanced Digital Solutions: Cybersecurity, AI and Quantum. We are talking about cutting-edge technology made in the Basque Country: AI and quantum computing are fundamental to having our own digital transition model. Multiverse is the symbol of the contribution that the Basque Country can make to the reindustrialisation process of the European Union. It is a company we have believed in and supported from the very beginning.

Multiverse Computing is a business project that emerged from BIC Gipuzkoa, the public centre for the promotion of entrepreneurial, innovative and scientific-technological projects, in which the Basque Government and the Provincial Council of Gipuzkoa participate. Basque public institutions have clearly committed to the company since its creation, convinced of the project’s potential from the outset.

Marisa Arriola referred to this, emphasising that “Multiverse Computing is one of the best examples of a Deeptech company that combines scientific excellence with business experience, and the purpose of entrepreneurship with ambition and a sense of responsibility. This is the Multiverse team: Enrique, Román and Sam are an example of what can be developed in the Basque Country. I would also like to highlight their generosity and willingness to promote entrepreneurial culture and be an example for other entrepreneurs on this complex and exciting path of promoting new technology companies”.