Madrid, March 2024. The Spanish artificial intelligence (AI) firm listed on the BME Growth Substrate AI will bring new partners into the shareholding of its subsidiary Subgen AI, after closing an agreement for a €10 million investment round in the aforementioned subsidiary with the Californian investment bank GT Securities, the company said in a statement.
The investment round values Subgen AI at 200 million euros and will be made between international investors and funds with which "GT Securities has a relationship", which will become part of the share capital of Subgen AI and with which a new shareholder structure will be formed in Substrate AI's technology subsidiary.
Specifically, Subgen AI develops "biology-based artificial intelligence technology in the field of generative AI and reinforced learning that is applied to products and services for companies and institutions across Europe, the United States and Latin America," Substrate AI notes on its website.
In that sense, it is developing its own LLM ('large language model') and has launched Serenity Star, an ecosystem for scaling generative AI with more than 100 LLMs and agents, co-pilots and plugins that allow to build generative AI projects in the company without having to be a great specialist in the field.
"We want to boost Subgen AI's business with new funding from this round to capture more market quickly with Serenity Star and our LLMs. The generative AI sector is growing very fast and speed is crucial in order to gain share," noted Subgen AI CEO Lorenzo Serratosa.
Substrate AI operates as a 'holding' of companies that sell, apply and develop artificial intelligence in their sectors "with a focus on creating efficiencies that drive the economy on its path to sustainability and emissions neutrality," the company has highlighted.
The subsidiaries that make up Substrate AI develop and sell artificial intelligence solutions in sectors such as generative AI, healthcare, agritech, fintech, human resources and energy.
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