The Spanish AI compression start-up’s funding round is co-led by Forgepoint Capital International, BNPP SIVF and Bullhound Capital, and values the company at a 5x step-up from its Series B.

Multiverse Computing, based in San Sebastien, Spain, has announced a $570m (€500m) Series C funding round at a $1.7bn (€1.5bn) pre-money valuation, marking a 5x step-up from its Series B.

The round was co-led by Forgepoint Capital International, BNPP SIVF and Bullhound Capital, with commitments from Santander Alternative Investments, Tikehau Capital, HP Inc, Orange Ventures, Scania Invest, NAventures, Qatar Development Bank, Zouk Capital, SETT, EIC Fund, the Basque Government’s Hazten Scale-Up Fund and Kutxa Fundazioa.

Advised by JP Morgan and Santander CIB, the round is expected to bring Multiverse’s total funding to $800m and may remain open to further strategic investors.

At the centre of Multiverse’s pitch is CompactifAI, a compression technology developed by co-founder and chief scientific officer Dr Román Orús that applies tensor networks, a mathematical framework drawn from quantum physics, to shrink large language models.

The company says the approach cuts model size by up to 80 to 95pc with minimal accuracy loss, letting AI run on devices such as smartphones and factory floors without a cloud connection.

“The AI industry has accepted a false constraint for years, that powerful models require expensive infrastructure,” said co-founder and CEO Enrique Lizaso. “That constraint is gone.”

Damien Henault, managing director and partner at Forgepoint Capital International, said Multiverse has evolved from a downstream compression technology into what he called a complete AI foundry and operating system, adding that it is the only company his firm has seen with both the technical foundation and commercial traction to become a critical platform for the industry.

The company’s platform now spans cloud, on-premises and on-device deployment, coordinated by what it calls the CompactifAI Router, alongside a software layer aimed at sovereign AI data centres.

Multiverse said annualised revenue has grown more than 10 times since its Series B closed in June 2025, with 96 multiple year-on-year sales growth in the first quarter of 2026. Its models are deployed across drones, cameras, satellites, vehicles and telecom infrastructure, with customers including Allianz, Bosch, Iberdrola, PwC and Telefónica.

The new funds will go toward expanding its model library, continued research and development, investment in sovereign AI infrastructure, and building out a regional presence in East Asia, Southeast Asia, the Middle East, Canada and the US.

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