Multiverse Computing is a Spanish quantum software company founded in 2019 in San Sebastian. It builds CompactifAI, a quantum-inspired LLM compression platform aimed at the AI inference market, and FinOptimal for financial portfolio optimization. The company combines quantum algorithms with tensor network methods to deliver near-term advantage. Customers include Iberdrola, Bosch, and more than 100 enterprises globally.

In June 2025, Multiverse raised EUR 189M ($215M) in Series B funding, led by Bullhound Capital with HP Tech Ventures, Toshiba, Santander Climate VC, and CDP Venture Capital, bringing total funding to roughly $250M. That same month it launched the CompactifAI API on AWS Marketplace. By January 2026 the company reported annual recurring revenue of around EUR 100M. Press reports in early 2026 said Multiverse was raising a Series C of roughly EUR 500M at a valuation near EUR 1.5B, though the company had not confirmed a completed round.

In November 2025, Multiverse partnered with PwC to simplify enterprise AI adoption and lower compute costs across multiple sectors. In February 2026, it launched HyperNova 60B, a 50%-compressed 60B-parameter LLM derived from GPT-OSS-120B. In March 2026, it partnered with Axelera AI of the Netherlands to integrate CompactifAI-compressed models with Axelera's edge platforms, supporting European AI sovereignty, with claims of 95% compression at 2 to 3% accuracy loss. Luzia, a major Spanish AI assistant, deployed CompactifAI and achieved more than 50% model footprint reduction.

Multiverse also operates Singularity, a quantum portfolio optimization platform that runs on IonQ hardware via IonQ Cloud. It serves financial clients including the Bank of Canada, BBVA, and Credit Agricole for use cases such as fair price calculation, ETF replication, and risk valuation. Update 2026-05-11: Multiverse Computing demonstrated an 83% recovery of compression loss in a language model using quantum circuit blocks. Source: https://quantumzei

Multiverse Computing

Qilimanjaro Quantum Tech is a Barcelona-based quantum computing company that builds superconducting quantum annealing processors as an alternative to D-Wave's approach, with a focus on coherent quantum annealing for optimization. Founded in 2020 as a spinout of the Barcelona Supercomputing Center (BSC), it has raised more than €24M with backing from EIT Digital, Spanish national investment, and European quantum funds.

The company develops chip-level superconducting processors and offers cloud access through its Qibo open-source quantum framework. Qilimanjaro targets logistics, finance, and materials optimization problems with near-term quantum annealing hardware, deploying systems for European research institutions and industrial partners.

In November 2025, Qilimanjaro unveiled Europe's first multimodal quantum data center in Barcelona, housing up to 10 quantum computers that combine fluxonium analog QPUs, digital QPUs, and classical HPC, available through its SpeQtrum Quantum-as-a-Service offering. In December 2025, it joined CERN's Open Quantum Institute "Access for All" initiative to provide cloud quantum computing access for global education and research. Qilimanjaro also won "World's Best Digital Start-Up" at Mobile World Congress. In early 2025, the EuroHPC Joint Undertaking signed an EUR 8.5M contract for Qilimanjaro to supply the MareNostrum-Ona quantum annealer at the Barcelona Supercomputing Center, starting with a 10-qubit fluxonium processor.

In May 2026, Qilimanjaro and GMV completed integration of a 35-qubit Qilimanjaro system with the MareNostrum 5 supercomputer at BSC, advancing Spain's hybrid quantum-HPC infrastructure. Update 2026-05-28: Qilimanjaro Quantum Tech inaugurated a new analog quantum computer at the Barcelona Supercomputing Center. Source: https://quantumzeitgeist.com/analog-quantum-computer-85m-funds/ Update 2025-11-10: Qilimanjaro launched Europe’s first multimodal quantum data center offering digital and analog quantum computing vi

Qilimanjaro

LuxQuanta is a Barcelona-based quantum security startup founded in May 2021 as a spin-off from ICFO, the Institute of Photonic Sciences. The company specializes in quantum key distribution (QKD) systems and develops continuous variable QKD (CV-QKD) technology, which provides highly secure data encryption and is easier to integrate into existing optical network infrastructure.

In March 2023, LuxQuanta launched NOVA LQ, a high-performing CV-QKD solution for intra-city networks. CEO Vanesa Diaz joined as business development manager in 2021 and became CEO a year later. In March 2025, the company launched Nova LQ, its second-generation CV-QKD system, at MWC 2025, reaching 100 km, a 200% improvement over its predecessor, in a 2U form factor compatible with lit fiber. Later in 2025, LuxQuanta won the 50,000 euro equity-free first prize at the Supernova All-Stars Competition during GITEX Europe 2025, placing it among Spain's top quantum computing companies.

LuxQuanta also leads the QUARTER consortium, a 7 million euro European Commission project for quantum cryptography maturity and EuroQCI readiness. In October 2025, LuxQuanta closed an EUR 8M Series A led by Big Sur Ventures.

LuxQuanta

Banco Bilbao Vizcaya Argentaria (BBVA) is a Spanish multinational financial services company with origins dating to 1857 and headquartered in Madrid, Spain. Its Quantum Division develops quantum-safe banking technologies and post-quantum cryptography implementations, preparing the bank's financial infrastructure for quantum computing threats to current encryption standards.

BBVA participates in Spain's QKD-GEO quantum key distribution geostationary satellite mission, analyzing real use cases with Hispasat, Banco de Santander, Telefónica, and Cellnex for quantum-secure financial communications. The bank invests in quantum computing research and quantum-safe security, exploring quantum key distribution for ultra-secure interbank communications, post-quantum cryptography algorithms for protecting financial transactions, and quantum-safe blockchain for digital banking services.

The company works with quantum security providers to implement quantum-resistant cryptography across its banking systems. BBVA serves global financial markets that need quantum-safe banking infrastructure, secure payment systems, and quantum-resistant encryption to protect customer data, financial transactions, and banking communications against emerging quantum computing capabilities.

BBVA Quantum Division

Banco de Santander is a Spanish multinational financial services company founded in 1857 and headquartered in Madrid, Spain. Its Quantum Division focuses on quantum-safe financial services and quantum cryptography implementations.

Santander participates in Spain's QKD-GEO quantum key distribution geostationary satellite mission, analyzing real use cases with Hispasat, BBVA, Telefónica, and Cellnex for quantum-secure banking communications. The bank invests in quantum-safe security to prepare its financial infrastructure for the post-quantum cryptography era and for quantum computing threats to the encryption that protects financial transactions and customer data. It explores quantum key distribution for ultra-secure banking communications, post-quantum cryptography for protecting financial data, and quantum-safe blockchain for digital banking services.

Santander works with quantum security providers to implement NIST-approved PQC algorithms across its banking infrastructure. The bank serves global banking markets that need quantum-safe financial services, secure payment systems, and quantum-resistant cryptography to protect customer transactions, financial data, and banking communications against quantum computing threats.

Banco de Santander Quantum Division

Cellnex Telecom is a Spanish telecommunications infrastructure and services company founded in 2015 and headquartered in Barcelona. Its Quantum Division supports the development of quantum-safe satellite communications and quantum networking infrastructure.

Cellnex participates in Spain's QKD-GEO quantum key distribution geostationary satellite mission, led by Thales Alenia Space and Hispasat, analyzing real use cases with the banking sector and terrestrial operators for quantum-secure communications. It collaborates with Hispasat, Banco de Santander, BBVA, and Telefónica to define business plans for integrating quantum-safe satellite and terrestrial networks. The company operates telecommunications tower infrastructure across Europe, which can serve as a backbone for quantum-safe communications networks.

Cellnex invests in next-generation secure communications technologies including quantum key distribution and post-quantum cryptography. It serves telecommunications operators, mobile network operators, broadcasters, and infrastructure sectors that need quantum-safe communications and tower infrastructure to support quantum networking across European markets.

Cellnex Quantum Division

ERZIA is an OEM manufacturer of high-performance RF and microwave modules, subsystems, and integrated assemblies serving quantum computing applications. Their high-power amplifiers (HPA) drive microwave control pulses for qubit manipulation (4-8 GHz, 10-50W output), while their low-noise amplifiers (LNA) capture weak readout signals with sub-1 dB noise figures across L-Band through W-Band frequencies critical for quantum system architectures. ERZIA provides essential RF infrastructure for quantum control systems worldwide.

ERZIA

Hispasat is Redeia's satellite services operator, founded in 1989 and headquartered in Madrid, Spain. It operates satellites providing telecommunications services across Europe, the Americas, and North Africa.

In January 2025, Hispasat partnered with Thales Alenia Space to begin the development, manufacturing, verification, and validation phase of the QKD-GEO prototype, Spain's quantum key distribution system from geostationary orbit. The QKD-GEO mission has a budget of 103.5 million euros and a 24-month timeline to develop components for quantum key distribution from geostationary orbit, including a quantum payload for a geostationary satellite and the associated ground segment.

Hispasat is responsible for designing the geostationary mission and defining the business plan, with support from Banco de Santander, BBVA, Telefonica, and Cellnex analyzing real use cases with the banking sector and terrestrial operators. A field test campaign is planned between the Spanish islands of La Palma and Tenerife, covering a 140-km atmospheric link. Hispasat serves telecommunications operators, government agencies, financial institutions, and critical infrastructure that need quantum-secure satellite communications.

Hispasat

The Institute of Astrophysics of the Canary Islands (IAC) is a Spanish astrophysics research center founded in 1982 and headquartered in La Laguna, Tenerife. Its Quantum Division participates in Spain's QKD-GEO quantum key distribution geostationary satellite mission, joining the industrial consortium led by Thales Alenia Space that is developing quantum communications technology for space-based quantum key distribution.

The institute brings astrophysics expertise and Canary Islands astronomical facilities to quantum communications research and testing. A field test campaign is planned between the Spanish islands of La Palma and Tenerife, covering a 140-km atmospheric link to validate the ground segment and quantum payload before the operational mission is implemented in orbit. IAC collaborates with the Polytechnic University of Madrid, the University of Vigo, Thales Alenia Space, and Hispasat to advance quantum communications from space.

The institute serves the European Space Agency, quantum technology companies, and research institutions that need space-based quantum communications research, atmospheric quantum transmission testing, and ground station development for satellite QKD systems.

Institute of Astrophysics of the Canary Islands Quantum Division

Quantix Edge Security is a joint venture based in Murcia, Spain, formed by SEALSQ (a WISeKey subsidiary), ODIN Solutions, TProtege, and the Spanish government's SETT regional development agency. Announced in 2024, its goal is to build Europe's first dedicated post-quantum semiconductor personalisation centre.

The Spanish government has committed €19.6M to the Murcia facility, and SEALSQ has signed a $25M revenue agreement with Quantix to develop Spain's first post-quantum semiconductor personalisation centre. The centre will design, test, and personalise secure chips for IoT, automotive, and medical devices using NIST-standardised PQC algorithms, supporting EU Cyber Resilience Act compliance for connected devices.

Quantix Edge Security

AQuantum is a Madrid-based research, development, consulting and services firm specializing in quantum software engineering and programming. The company provides quantum algorithm development, quantum software consulting, and training services to enterprises and research institutions. AQuantum helps organizations understand and implement quantum computing solutions for their specific business needs.

aQuantum

PlanetAI Space integrates Earth Observation with quantum machine learning to detect underground freshwater sources and environmental patterns from satellite data. Their Quantum Aqua technology uses hybrid quantum-classical ML to estimate underground water source probabilities, replacing traditional field measurements with large-scale processed satellite information to generate real-time water location maps and contamination warnings. Winner of World Economic Forum's Quantum for Sustainability challenge in 2025 with funding from Ready2Scale, Madrid Emprende, Village Capital, and others.

PlanetAI Space

The Polytechnic University of Madrid (Universidad Politécnica de Madrid, UPM) is a Spanish public research university founded in 1971 and headquartered in Madrid. Its Quantum Division participates in Spain's QKD-GEO quantum key distribution geostationary satellite mission as part of the industrial consortium led by Thales Alenia Space, which is developing quantum communications technology for space-based quantum key distribution systems.

UPM brings telecommunications engineering and quantum communications research expertise to satellite QKD development. It collaborates with the Institute of Astrophysics of the Canary Islands, the University of Vigo, Thales Alenia Space, and Hispasat to advance quantum-safe satellite communications, and conducts research in quantum cryptography, quantum optics, and quantum communications protocols for satellite applications.

The university serves the European quantum communications research community, quantum technology companies, and government agencies that need quantum networking protocols and satellite QKD systems engineering. It contributes to the Spanish national quantum strategy and the European Quantum Communication Infrastructure (EuroQCI) initiative.

Polytechnic University of Madrid Quantum Division

Quantum Mads is a hybrid Quantum Software as a Service (QSaaS) provider based in Bilbao that tackles complex industrial challenges. The company develops quantum algorithms and software tools for optimization, simulation, and machine learning applications. Quantum Mads helps Spanish businesses adopt quantum computing for practical problem-solving in manufacturing, logistics, and energy sectors.

Quantum Mads

QuantumPath develops quantum optimization software for telecommunications and network optimization. Its quantum algorithms address network routing, resource allocation, and spectrum management in telecom infrastructure, and the software combines quantum optimization with classical network management tools to produce hybrid solutions.

QuantumPath works with telecom operators on quantum solutions for 5G network optimization and beyond. Based in Spain, the company collaborates with European telecommunications companies and research institutions, focusing on practical near-term applications where quantum approaches can improve network efficiency and cut operating costs. It offers both cloud-based optimization services and on-premises software for network operators.

QuantumPath

Quanvia is based in Bilbao, Spain, focusing on implementing quantum applications and training individuals to enhance their understanding of quantum computing. The company provides quantum computing courses, workshops, and hands-on training programs for businesses and universities. Quanvia helps develop quantum computing talent in the Basque Country and broader Spanish quantum ecosystem.

Quanvia

Quside is a Spanish quantum technology company founded in 2017 that develops quantum random number generators (QRNGs) and quantum entropy sources for cybersecurity, cryptography, and secure communications. Its true random number generation is based on quantum physical processes, providing the unpredictable, unbiased randomness needed for encryption keys and high-security applications in telecommunications, finance, and government.

In September 2024, Quside and PQShield integrated Quside's QRNG with PQShield's post-quantum SDK in OpenSSL 3.2 and later, supporting Post-Quantum TLS 1.3 and quantum-safe X.509 PKI, timed alongside NIST's August 2024 PQC standard release. Quside also partners with Thales and participates in EU Quantum Flagship projects Qrange and Civiq. In November 2025 it won Company of the Year in Quantum Technology at the Premios Cataluña awards.

On January 20, 2026, Coherent Corp. and Quside demonstrated the first mass-manufacturable quantum entropy source with runtime verification from a single VCSEL for cryptographic key generation, shown live at Photonics West 2026 in San Francisco. The solution combines Coherent's 6-inch wafer VCSEL technology with Quside's QRNG technology, a milestone for scalable quantum-safe encryption.

Quside

Telefonica S.A. is a Spanish multinational telecommunications company founded in 1924 and headquartered in Madrid. The company explores quantum technologies for telecommunications, including quantum key distribution (QKD) for secure communications, quantum networking, and post-quantum cryptography.

Telefonica works with quantum technology providers and research institutions to deploy quantum communication networks across Spain and Latin America, and it invests in quantum-safe security to prepare its infrastructure for post-quantum transitions. The company serves telecommunications markets across Europe and Latin America, including enterprise customers, government agencies, and critical infrastructure sectors that require quantum-safe communications. This work contributes to European quantum communications infrastructure and positions Spain as a quantum communications leader in Europe and Latin America.

In January 2025, Telefonica Tech signed a collaboration agreement with IBM on quantum-safe technology. In early 2026, Telefonica and IQM Quantum Computers were selected by Galicia's CESGA supercomputing center to deploy a 54-qubit IQM Radiance and a 5-qubit IQM Spark, Spain's first IQM quantum computers. At MWC 2026, Telefonica showcased a quantum-safe portfolio developed with partners including Fortinet and LuxQuanta.

Telefonica

The University of Vigo (Universidade de Vigo) is a Spanish public research university founded in 1989 and located in Vigo, Galicia, Spain. Its Quantum Division participates in Spain's QKD-GEO quantum key distribution geostationary satellite mission.

The university is part of the large industrial consortium led by Thales Alenia Space developing quantum communications technology for space-based quantum key distribution, bringing expertise in telecommunications, photonics, and quantum optics to satellite QKD research and development. It collaborates with the Institute of Astrophysics of the Canary Islands, the Polytechnic University of Madrid, Thales Alenia Space, and Hispasat to advance quantum-safe satellite communications infrastructure.

The University of Vigo conducts research in quantum communications, quantum cryptography protocols, and photonic quantum technologies for space applications. It serves the European quantum research community, quantum technology companies, and government agencies that need quantum communications research, quantum optics expertise, and satellite QKD technology development, and it contributes to the Spanish quantum technology ecosystem and European quantum communications infrastructure initiatives.

University of Vigo Quantum Division

VLC Photonics is a Spanish photonic integrated circuit (PIC) design and test house founded in 2011 as a spin-off of the Polytechnic University of Valencia. It was acquired in 2020 by the Hitachi High-Tech Group. The company provides turn-key engineering services for PIC development, from concept and design through tape-out, manufacture, characterisation, and packaging, and works with more than 20 foundries worldwide across silicon, silicon-nitride, indium-phosphide, and PLC platforms.

Quantum, LIDAR, biosensing, telecom, and datacom are its core application markets. In June 2025, VLC Photonics secured a €5.4M Spanish-government grant to scale its testing and design capabilities.

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