Southern Europe is experiencing significant growth in its tech sector, driven by strong talent pools and increased investment from both private investors and policymakers. Countries like Spain, Malta, Portugal, and Cyprus are leading the charge, with notable increases in their tech formation and investments. For instance, Portugal's startup ecosystem grew by 16% in 2023, with investments soaring by 148%. A handful of standout scaleups, including Multiverse Computing, have emerged, with ambitions to innovate using AI and quantum computing to tackle complex industry problems.
Multiverse Computing aims to be the global leader offering compressed AI models for industries to benefit from cost and energy-efficient AI.
Investors are backing the vision. In an oversubscribed round last year, the company raised €25mn and tripled its valuation to €100mn.
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