Company · AI & Data

Substrate AI

www.substrate.ai ↗ ·Madrid ·Other

Substrate AI (Substrate Artificial Inteligence, S.A.) is a Madrid-headquartered AI company positioning itself as a European 'sovereign' AI stack: the Serenity Star / Serenity platform for building and governing generative-AI agents under EU AI Act and GDPR compliance, plus GPU data centres and a sovereign AI cloud, alongside AI-driven ventures in health, HR, industry and energy. It is publicly listed on BME Growth (ticker SAI) since May 2022 and is now the Spanish subsidiary of Stockholm-based Subgen AI (Nasdaq First North: SUBGEN); it reports 500+ customers and 200+ employees across Madrid and Talavera de la Reina. It was founded in December 2010 by Serratosa and García as KAU Finanzas, renamed Zona Value in 2018 and Substrate AI in June 2021.

Founded

2010

Founders

News

Rounds

Investors

SectorsAI & Data, Enterprise Software, Cloud & Data Center Infrastructure, Healthtech, HR Tech, Energy Start-up MapAI & Data › Enterprise AI agent platforms

Profile updated 1 Sep 2026

Founders

José Iván García

Co-founder & Vice President of the group (head of the health division); former CEO

Lorenzo Serratosa Gallardo

Co-founder & CEO (Consejero Delegado); CEO of parent Subgen AI

Global models

No comparables on record yet.

Investors 6

8 International LTD

Investor

Alpha Blue Ocean

www.alphablueocean.com ↗

Investor United Kingdom

JMSAN Agentes Financieros Globales

Investor Spain

Loft Structured Opportunities Fund I

www.loftcap.com ↗

Investor United Kingdom

SETT (Sociedad Española para la Transformación Tecnológica)

sett.com

Investor Spain

Yaro Investment Holding

Investor United Kingdom

Funding rounds 1

Other · €39M

Listed Spanish AI company Substrate AI signed a €39M capital increase via mandatory convertible bonds: €19.2M from SETT (Next Tech facility)…

2026-06-30

News & media 10

Published	Article
2026-08-03	Substrate AI establishes data center REIT to accelerate investments in AI infrastructure ↗ BeBeez International
2026-06-29	Spanish government authorises investment of EUR 19.2 million as part of a planned EUR 39.2 million convertible note issue in Subgen AI's subsidiary Substrate AI ↗ Nasdaq (press release)
2026-04-03	Subgen AI announces final outcome of the voluntary public offer to shareholders of Spanish subsidiary Substrate AI and resolves on directed issue of 291,284,082 ordinary shares with payment in kind ↗ Nasdaq (press release)
2026-03-31	Spanish AI firm Substrate AI plans 10MW data center outside Toledo ↗ Data Center Dynamics
2026-03-04	Subgen AI announces a voluntary public offer to the shareholders of its controlled Spanish subsidiary Substrate AI and publishes offer document ↗ Nasdaq (press release)
2025-07-15	Substrate AI grows 92% in ebitda to 3 million euros at the end of June in comparable data, strongly boosting its profitability ↗ Substrate AI (press release)
2024-12-05	SubgenAI to present Serenity Star tool at AI Summit NY ↗ Proactive Investors
2024-07-17	Substrate AI — AI venture builder (initiation of coverage) ↗ Edison Investment Research
2024-03-12	Substrate AI's latest deal values Subgen business at €150mln ↗ Proactive Investors
2024-02-21	Subgen AI unveils Serenity Star: a generative AI ecosystem designed to transform business and government operations ↗ Proactive Investors