In the midst of a global race to dominate artificial intelligence, where leadership is usually concentrated in the United States or China, a different story with a Spanish accent is beginning to emerge. Multiverse Computing, a startup based in San Sebastián, has been gaining visibility among investors and large companies for some time, but a latest move clearly raises the scale of the conversation. The company would be negotiating a new round of financing that could place it among the unicorns, a category reserved for very few European firms in this sector.
New Spanish unicorn. The information that places Multiverse in this possible leap comes, for now, from sources cited by Bloomberg that describe a negotiation in progress. According to those people familiar with the operation, the company would be in talks to raise around 500 million euros in new financing, a figure that would imply exceeding the 1.5 billion valuation. The calendar used by these sources points to the first half of 2026 and the entry of new investors, which leaves the operation in the realm of the probable, but not yet confirmed.
What the company does. Multiverse Computing, created in 2019, focuses on developing software tools that allow organizations to use artificial intelligence with lower energy and computational costs. Its technology seeks to reduce the size of the models without sacrificing precision, an approach that responds to one of the biggest current problems in the sector, the high consumption of resources required to train and run advanced systems. That promise of efficiency is what is attracting the attention of investors and industrial partners.
Financial context. In March 2025, we portrayed how the company received an investment of 67 million euros through the Spanish Society for Technological Transformation, the public vehicle intended to promote strategic projects. Just a few months later, in June 2025, we wrote about it again in relation to a round of 189 million euros with the participation of several international and corporate funds. This succession of operations places the negotiation described by Bloomberg on another scale, no longer as an injection to grow, but as the step that could redefine its valuation within the European AI market.
behind the scenes. Bloomberg puts Multiverse’s annual recurring revenue at €100 million in January 2026, a metric used by software startups to show future recurring revenue rather than current accounting results. At this point we must be very careful: this is a metric indicative of traction, not a synonym for profits. This difference is relevant in a sector where expansion is usually supported by sustained investment and high spending. Therefore, beyond commercial traction, it will remain to be verified what its real balance between income, costs and financial sustainability is in the next phase of development.
Images | Multiverse
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