{"id":17501,"date":"2025-04-13T21:13:15","date_gmt":"2025-04-13T21:13:15","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/17501\/"},"modified":"2025-04-13T21:13:15","modified_gmt":"2025-04-13T21:13:15","slug":"spanish-government-raises-e67-million-for-multiverse-computing-for-ai-compression","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/17501\/","title":{"rendered":"Spanish government raises \u20ac67 million for Multiverse Computing for AI compression"},"content":{"rendered":"

Spanish Minister for Digital Transformation and Public Function, \u00d3scar L\u00f3pez, announced on Tuesday that the Government of Spain will become a shareholder of the Donostia-based company Multiverse Computing<\/strong><\/a>, with a co-investment of \u20ac67 million.<\/p>\n

The operation will be carried out through the Spanish Society for Technological Transformation (SETT).<\/p>\n

Rodrigo Hernandez, Global GenAI Director at Multiverse Computing, will also be attending the EU-Startups Summit 2025 in Malta as one of our Speakers, read more here<\/a>.<\/p>\n

\u201cWe appreciate the support of the Spanish government and will work to make Spain and Europe leaders in this technology. Also, support from the Basque government has helped us achieve the success we have today,\u201d said Enrique Lizaso Olmos<\/strong>, Co-founder and CEO of Multiverse Computing. \u201cWe are guiding the next generation of AI algorithms by making these models smaller and more efficient to lower operating costs and reduce the environmental impact.\u201d<\/p>\n

Founded in 2019 by Enrique Lizaso Olmos, Rom\u00e1n Or\u00fas, Samuel Mugel, and Alfonso Rubio, Multiverse Computing has developed software inspired by quantum computing that allows AI models to be compressed to 10% of the original size, consuming fewer resources and obtaining equivalent returns.<\/p>\n

This allows, for example, to use these models using less energy or on smaller devices, such as virtual reality glasses or smartphones instead of large computers, even in offline mode.<\/p>\n

Their mission is to apply quantum and quantum-inspired AI to solve complex problems in finance, energy, manufacturing, defense, cybersecurity, life sciences, and chemistry, delivering practical applications and tangible value.<\/p>\n

They look to provide efficient software to companies wanting to gain an edge with quantum computing and AI.<\/p>\n

One of their flagship products is Singularity, a software platform that contains quantum and quantum-inspired algorithms developed and patented through proof-of-concept trials we have been performing for industrial and service clients.<\/p>\n

Their other product CompactifAI, is an AI model compression tool that reduces AI model size while maintaining performance, leading to lower energy consumption and costs. CompactifAI is meant for real-time processing and edge computing applications. So far, it has been adopted by enterprises in healthcare, automotive, and telecommunications.<\/p>\n

\u201cWith this operation, we seek to position Spain as a benchmark in energy-efficient AI language models, scaling the development of compaction tools that compress language models by up to 90%, reducing costs and energy consumption while increasing the technological independence of Spain and Europe,\u201d said Minister L\u00f3pez<\/strong>\u00a0at a press conference in the Spanish Pavilion at MWC Barcelona 2025.<\/p>\n

The Minister also announced new grants aimed at helping companies incorporate AI into their value chains. Firstly, a new call for \u20ac130 million from ERDF funds. The grants, of up to \u20ac5 million per project, will be articulated through the Red.es entity and \u201cwill allow our companies to launch experimental development projects in which intensive use will be made of technologies associated with AI, such as machine learning and deep learning, generative AI or LLMs, among others.\u201d<\/p>\n

In addition, Minister L\u00f3pez announced another call for \u20ac50 million euros for the integration of AI in companies in the health sector; both, added to the call to promote the use of AI and data in Spanish SMEs, closed a few days ago and which has a budget of \u20ac24 million, \u201care more than \u20ac200 million of European funds\u2013ERDF and RTRP\u2013that will be activated in the coming days and that will allow us to continue exploiting our strengths in the field of Artificial Intelligence,\u201d said the Minister<\/strong>.<\/p>\n

L\u00f3pez made these announcements at MWC Barcelona 2025 during his speech at the event \u2018CambIA: from research to business,\u2019 in which some of the results of the \u2018R+D Missions in AI\u2019 programme were announced. This initiative, endowed with \u20ac50 million from the RTRP and launched by the Secretary of State for Digitalisation and Artificial Intelligence (SEDIA) in 2021, concluded last December and has developed real use cases for the application of AI in strategic sectors of the country\u2019s economy.<\/p>\n

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