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A Spanish scaleup looking to make AI cheaper and more efficient for enterprises says it is targeting up to $570m in its latest funding round, at an elevated $1.7bn valuation. Multiverse Computing is working at the intersection of AI and quantum, providing tech which it claims can reduce the size of LLMs amid demands for cheaper AI compute. The funding round in Multiverse Computing is co-led by Forgepoint Capital International, BNPP SIVF, and Bullhound Capital. The round, which is still open, also includes commitments from Santander Alternative Investments, Tikehau Capital, Orange Ventures and Scania Invest amongst others, the scaleup said. Once complete, total funding in Multiverse Computing will be around $800m, it said. The $1.7bn valuation would mark a five-fold increase on its Series B valuation when it raised $215m, the scaleup said. Multiverse Computing's bet is that AI is increasingly moving towards edge devices, such as mobile phones and smart cameras, in a bid to make AI cheap
Multiverse Computing, a San Sebastian-based AI scale-up focused on sovereign and efficient AI, today announced a €500 million ($570 million) Series C at a €1.5 billion ($1.7 billion) pre-money valuation, five times its Series B valuation. The round was co-led by Forgepoint Capital International, BNPP SIVF, and Bullhound Capital, with additional commitments to date from investors including Santander Alternative Investments, Tikehau Capital, HP Inc., Orange Ventures, Scania Invest, NAventures (National Bank of Canada’s corporate venture arm), Qatar Development Bank, Zouk Capital, SETT, EIC Fund, the Basque Government’s Hazten Scale-Up Fund (Gestión de Capital Riesgo de Euskadi – Grupo Spri), and Kutxa Fundazioa. This deal brings the company’s total funding to €701.3 million ($800 million), inclusive of prior rounds, and may remain open to select additional strategic investors. “The AI industry has accepted a false constraint for years — that powerful models require expensive
Multiverse, the British upskilling platform for AI and tech adoption, today announced it has raised €60 million ($70 million) in primary funding to expand across Europe, with the goal of ensuring that AI benefits the workforce, rather than displacing it. The funding was led by Schroders Capital, with participation from existing investors including General Catalyst, Lightspeed Venture Partners, D1 Capital Partners, Index Ventures, Bond, and StepStone Group – valuing the company at €1.8 billion ($2.1 billion). “There are companies who desperately need the benefits AI can bring. There are AI companies. What has been missing is the layer that bridges the two,” says Euan Blair, CEO and Founder of Multiverse. “This investment marks the moment Multiverse defines that category, and takes it across Europe. Getting outcomes from AI and unlocking productivity is not just a technology problem. It is a people problem. We exist to solve it.” Multiverse’s funding sits wi
Euan Blair’s Multiverse has raised £70m in fresh funding, as it looks to expand across Europe and take a chunk of the enterprise AI training market. The funding round in the edtech, which originally specialised in digital apprenticeships at tech firms, was led by new investor Schroders Capital. Existing investors, including General Catalyst, Lightspeed, D1 Capital Partners, Index Ventures, Bond, and StepStone group also participated. It raised the funding at a $2.1bn valuation, a $400m increase on its last funding round in 2022. Multiverse, founded by Blair, the son of former UK prime minister Tony Blair in 2016, has raised around $570m in total. Multiverse, which has mainly focused on the UK market, said the new funds would be used to expand across Europe, as it looks to offer AI training services and capitalise on enterprise adoption of AI. The edtech has moved into the German market following its acquisition of Berlin-based data and AI training company StackFuel in January this year