tech

Multiverse raises $70m at a $2.1bn valuation to push its AI-adoption pitch across Europe

The round, led by Schroders Capital, follows January’s acquisition of Berlin-based StackFuel and 50% year-on-year revenue growth. Customers include the AA, Babcock, and Capita.

Multiverse raises $70m at a $2.1bn valuation to push its AI-adoption pitch across Europe

TL;DR

  • Multiverse raised $70 million in primary funding, reaching a $2.1 billion valuation.
  • The funding round was led by Schroders Capital, with participation from existing investors.
  • The company aims to become 'Europe's AI adoption platform,' focusing on workforce upskilling for AI.
  • Recent acquisition of Berlin-based StackFuel strengthens its European presence.
  • Multiverse reported 50% year-on-year revenue growth for three consecutive years and its first cash-positive quarter.
  • The company highlights skills gaps as a major barrier to AI adoption for CEOs.
  • The UK government supports Multiverse's expansion and its role in AI adoption.

Continue reading the original article