Substrate AI grows 256% to June, reaches 9 million euros in revenues and reports positive ebitda for the first time 

The company has earned more in the first half of the year than in all of 2023

Substrate AI, the artificial intelligence company listed on BME Growth, grew its revenues by 256% by June compared to June 2023, reaching 9 million euros in total revenues. Perhaps the most noteworthy aspect of the results is that the company reported its first positive EBITDA, reaching $1.7 million with an 18.8% margin on revenues, all on an unaudited basis.

The Substrate AI group, which creates, buys, and scales companies with a focus on Artificial Intelligence, comprises several companies transformed by this technology to grow in their respective sectors as AI-driven entities. Notable sectors include health (4dmedica) human resources, (Fleebe AI)  agri tech (Boalvet) and Aitech itself (SubgenAI), which not so long ago launched the Saas Serenity Star which recently launched the SaaS Serenity Star to scale AI in companies and develop domain-specific LLMs.

Además la compañía anunció hace poco la compra del 7,3%de la plataforma de aprendizaje de español SoyGuiri , reinforcing its commitment to the education sector where artificial intelligence will play a key role. This new investment is part of the company's strategy to partner with promising AI-driven startups and promote them as AI-powered companies.

This strategy complements Substrate AI's existing approach of acquiring at least 70% stakes in companies lacking a strong technological component to transform them with AI, opening new growth avenues based on deep sector knowledge.

"This semester's accounts demonstrate the hard work of the entire Substrate AI team, from the parent company to the various subsidiaries, in implementing defined strategies and achieving set objectives. We have been fortunate to create an excellent team of CEOs who are performing exceptionally well and whom we support in every way, both technologically and otherwise, to ensure they feel supported on their path".

 

notes José Iván García, CEO of Substrate AI

Substrate AI was listed on BME Growth in May 2022 as the first Artificial Intelligence company to be listed in Spain. It operates as a holding company for businesses that sell, apply, and develop AI solutions in their sectors, focusing on creating efficiencies that drive the economy towards sustainability and emission neutrality. The companies within the Substrate AI portfolio develop and sell AI solutions in sectors such as Generative AI, Healthcare, Agritech, Fintech, Human Resources, Energy, and Edtech

The company has also expanded its international presence with dual listings in London and the USA, bringing it closer to new investors and clients.