Spanish AI company Multiverse Computing announced on Thursday that it has secured €189 million ($217 million) in funding from Bullhound Capital, HP Inc (HPQ.N), Forgepoint Capital, and Toshiba to advance its AI model compression technology.
The firm claims its technology can shrink large language models (LLMs) by up to 95% without compromising performance, while also cutting costs by as much as 80%.
It combines ideas from quantum physics and machine learning in ways that mimic quantum systems but doesn’t need a quantum computer.
The latest funding round makes Multiverse the largest Spanish AI startup, joining the list of top European AI startups such as Mistral, Aleph Alpha, Synthesia, Poolside and Owkin.
Multiverse has launched compressed versions of LLMs such as Meta’s (META.O), opens new tab Llama, China’s DeepSeek and France’s Mistral, with additional models coming soon, the company said.
“We are focused just on compressing the most used open-source LLMs, the ones that the companies are already using,” Chief Executive Officer Enrique Lizaso Olmos said.
“When you go to a corporation, most of them are using the Llama family of models.”
The tool is also available on Amazon (AMZN.O), opens new tab Web Services AI marketplace.
($1 = 0.8709 euros)