18/07/2023 – Substrate AI (SAI), the Valencian artificial intelligence company listed on BME Growthclosed the first half of 2023 with a growth of 100% in revenues compared to the same period of 2022, exceeding 2.55 million euros in unaudited figures in June, as reported to the market. In this sense, it is worth remembering that in the first part of 2022 revenues were 1.27 million.
The firm led by the duo Lorenzo Serratosa (Chairman) and José Iván García (Chief Executive Officer)) has grown in all business areas but above all in agritechThe company is also involved in health, health and projects for third parties, including those related to the digitization of dairy farming operations.
During the first half of the year, the company continued with its ambitious investment plan for product development, including its platform for the detection and promotion of talent in large organizations. As well as the project being developed for energy saving in hotels, subsidized with 600,000 euros by Red.es.as well as the ChatGPT applications it is deploying for various uses. All this has led it to close a Negative Ebitda of €905,191, i.e. 13% better than in 2022 over the same period.
"We continue to fulfill what we set out to do last year before the IPO to position ourselves as a benchmark for artificial intelligence (AI) in Spain with an ambitious investment plan that should begin to bear fruit in 2024 and 2025," notes José Iván García, CEO of Substrate AI.
SAI debuted in BME Growth in May 2022. being the first AI firm to be listed in Spain. It operates as a holding of companies that sell, apply and develop artificial intelligence in their sectors. Tall of this with a focus on creating efficienciesemissions, which will drive the economy on its path towards sustainability and emission neutrality.
Preparing for the London debut
The companies that make up the portfolio Substrate AI develops and sells Artificial Intelligence solutions in sectors such as the health, agritech, fintech, human resources and energy. In addition, it offers consulting services for other firms that wish to implement AI solutions in their day-to-day operations.
In addition to BME Growth, the Valencian company has been present in the American OTC market since the end of November last year.. And it doesn't stop there because it is closing the incorporation process for listing on the London Aquis. This is a market focused on growth companies.