Multiverse Computing, based in San Sebastián, said on Monday morning it is raising a Series C of up to $570 million — €500 million — at a pre-money valuation of $1.7 billion.
What the company sells
Its product, CompactifAI, compresses large language models by 80% to 95%, targeting deployment on hardware that could not otherwise host them — the edge-to-cloud spread the round is explicitly meant to fund. The valuation is a five-fold step-up from its Series B.
Who is in
Co-leads are Forgepoint Capital International, the BNPP Solar Impulse Venture Fund and Bullhound Capital, with HP, Santander, Tikehau, Orange Ventures, Qatar Development Bank and the EIC Fund among those committed. If fully subscribed, total capital raised reaches roughly $800 million.
Targeting is not raising
This is the part the headlines have already lost. The release says the round is "targeting up to $570M" — it is open, not closed. And $1.7 billion is the pre-money figure; the $2.3 billion valuation circulating elsewhere is the implied post-money if the full amount comes in. Reporting a closed $570 million round at $2.3 billion states two things that have not happened.
The growth figures are the company's
More than 10x annualised revenue growth since June 2025 and 96x year-on-year first-quarter sales are self-reported and unaudited. Multiples of that size usually describe a small base.
Why compression is suddenly fundable
Inference cost and memory scarcity have made the size of a model a commercial problem rather than a research one. A vendor that removes most of a model's footprint while keeping its behaviour sells directly into the bottleneck everyone else is trying to buy their way out of.