Investor · Other

SETT

sett.gob.es ↗ ·Madrid ·Multi stage ·Actively investing

SETT (Sociedad Española para la Transformación Tecnológica) is a Madrid-based public business entity under Spain's Ministry for Digital Transformation and Public Administration. It was created in July 2024 from the former SEMyS to finance and invest in advanced and transformative technologies. It manages the PERTE Chip programme for microelectronics and semiconductors, the Next Tech Fund and the Spain Audiovisual Hub Fund. It co-invests alongside private investors in deep-tech companies across semiconductors, quantum computing, artificial intelligence, connectivity, health tech and sustainable mobility, and its stake is capped at 49%. Its portfolio includes Multiverse Computing, Sateliot, Wallbox, Qilimanjaro Quantum Tech, Nu Quantum, Sparc, Quantix Edge Security, Wooptix and Lookiero.

Portfolio

Team

AUM

n/a

Rounds

Cheque

€0.5–20M

SectorsSemiconductors, Microelectronics, Quantum computing, Artificial intelligence, Telecommunications, Satellite connectivity, Health tech, Audiovisual VC MapPublic & regional funds

Profile updated 23 Sep 2026

Team

Partners 1 Investment Team 0 Others 1

Antonio Hernando Vera

President

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Portfolio companies 27

Amuse Labs

www.amuseanimation.com

Company Other Las Palmas de Gran Canaria

Attypics Photonics

Company Other Paterna

Clinicgram

www.clinicgram.com

Company Seed Barcelona

FOSSA Systems

fossa.systems

Company Series A Madrid

Heuristik

heuristik.com

Company Pre-seed Bilbao

Ideaded

ideaded.com

Company Series B Viladecans

Kaleidos

kaleidos.net

Company Series A Madrid

Lookiero

www.lookiero.com

Company Series C Bilbao

Multiverse Computing

multiversecomputing.com

Company Series B San Sebastián

Nearby Computing

nearbycomputing.com

Company Series A Barcelona

Onalabs

onalabs.com

Company Series A Cerdanyola del Vallès

Openchip

openchip.com

Company Other Barcelona

Qilimanjaro Quantum Tech

qilimanjaro.tech

Company Seed Barcelona

Quantix Edge Security

Company Seed Barcelona

Sateliot

sateliot.space

Company Series C Barcelona

ScrapAd

scrapad.com

Company Series A Eibar

Company Series B Bilbao

Universal Diagnostics

universaldx.com

Company Series C Madrid

Wallbox

wallbox.com

Company Other Barcelona

Wooptix

wooptix.com

Company Series C San Cristóbal de La Laguna

Ánima Kitchent

www.animakitchent.com

Company Other Madrid

Funding rounds 34

Nearby Computing · Other · €1.4M

Nearby Computing is a spin-off of the Barcelona Supercomputing Center and UPC. It closed a €1.4M bridge round, of which SETT invested €680K …

2026-09-17

Onalabs · Series A · €9.3M

Deeptech Onalabs raised more than €9.3M to scale its non-invasive sweat-based biosensors, with SETT contributing €4.6M through the Next Tech…

2026-07-27

Multiverse Computing · Series C · €500M

Multiverse Computing announced a Series C targeting up to $570M (€500M) at a $1.7B (€1.5B) pre-money valuation, a 5x step-up from its 2025 S…

2026-07-27

Kaleidos · Other · €6.9M

Kaleidos, the Madrid company behind open-source design platform Penpot, raised a €6.9M round in which Spain's SETT invested €1.92M of public…

2026-07-20

Kaleidos · Other · €6.9M

Kaleidos, the Madrid company behind open-source design platform Penpot, raised a €6.9M round in which Spain's SETT invested €1.92M of public…

2026-07-20

Amuse Labs · Other · €13.2M

Spain's state-backed investment vehicle SETT invested €6.4M ($7.3M) for a 48% stake in a €13.2M capital increase creating Amuse Labs, a new …

2026-07-16

Sherpa.ai · Other · €16M

Sherpa.ai closed a ~€16M ($18M) round led by Silicon Valley cybersecurity fund Forgepoint Capital, with Mundi Ventures, Ekarpen, Allegra Hol…

2026-07-06

Substrate AI · 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

Openchip · Other · €115M

RISC-V AI/HPC chip designer landed a €115M SETT equity investment (authorized June 29, after a €35M bridge converted to a 5% stake at ~€700M…

2026-06-29

FOSSA Systems · Other · €9.25M

Satellite-IoT operator (25+ smallsats launched, 140-satellite constellation planned) raised €9.25M led by Kibo Ventures, with SETT and Japan…

2026-06-24

Attypics Photonics · Other · €50M

Newly created photonic-chip manufacturer (UPV MICRONANOFABS-NTC spin-out) received a €50M phase-1 public-private co-investment — SETT €24.5M…

2026-06-23

Multiverse Computing · Other · €107M

Spain's Council of Ministers authorized SETT to invest up to €107M in the quantum-inspired AI-compression company (CompactifAI) — a state tr…

2026-06-23

Clinicgram · Other · €1.65M

Digital-health company using AI and thermal imaging for diabetic-foot care closed a €1.65M public-private capital increase, with state vehic…

2026-06-10

Ánima Kitchent · Other · €24.9M

State vehicle SETT invested €24.9M in the animation studio behind 'Cleo y Cuquín' to build a Canary Islands animation hub with UK/Indian VFX…

2026-06-02

ScrapAd · Other · €1.1M

SETT, the Spanish state technology transformation company, invested €1.1M in ScrapAd alongside other private investors to scale its AI-power…

2026-04-17

Sybol · Seed · €1M

Madrid-based Sybol, founded in 2024, closed a mixed public-private round of just over €1M to scale its corporate digital identity platform a…

2026-04-09

TuringDream · Seed · €2M

Spain's state technology investment company SETT invested €2 million in Madrid-based TuringDream, whose cloud platform lets non-engineers co…

2026-03-23

TuringDream · Seed · €2M

Spain's state technology investment company SETT invested €2 million in Madrid-based TuringDream, whose cloud platform lets non-engineers co…

2026-03-23

Sybol (Sybolid Identity) · Seed · €500K

Spain's state tech investment vehicle SETT put €500,000 into Madrid-based Sybolid Identity, which issues and verifies corporate verifiable c…

2026-03-12

Universal DX · Series C · €62M

Seville-based liquid-biopsy company Universal DX closed a €62M capital increase, of which €30M came from Spain's state tech-investment vehic…

2026-01-20

Lookiero Outfittery Group · Other · €17M

The group formed by Spain's Lookiero and Germany's Outfittery closed a €17M growth round to fund expansion across its 12 European markets, c…

2026-01-08

Heuristik · Pre-seed · €2.1M

Heuristik, a Basque healthtech founded in 2019 that combines fingerprint biometrics with AI to unequivocally identify and track patients acr…

2026-01-07

Heuristik · Seed · €1.4M

Heuristik, which identifies hospital patients by combining fingerprint biometrics with AI that works on damaged or soiled prints, raised €1.…

2025-12-12

Ideaded · Other · €22M

Ideaded, a Catalan developer of "beyond silicon" sustainable microchips on flexible substrates, closed a €22M strategic round co-led by the …

2025-11-13

Qilimanjaro Quantum Tech · Other · €1M

Spain's state technology vehicle SETT invested €1M in a first capital increase in Qilimanjaro Quantum Tech, a 2019 spin-off of IFAE, the Uni…

2025-11-07

Sparc · Other · €17.2M

SETT invested €17.2M in a capital increase taking 43.9% of Sparc, a Vigo-based fabless photonic semiconductor company founded in 2022, along…

2025-06-18

Quantix Edge Security · Other · €19.6M

Spain's state technology investment vehicle SETT invested €19.6M for a 49% stake in Quantix Edge Security, a secure-microchip personalisatio…

2025-06-18

Multiverse Computing · Series B · $215M

Multiverse Computing raised a $215M Series B led by Bullhound Capital to scale CompactifAI, its quantum-inspired technology that compresses …

2025-06-12

Sateliot · Series B · €70M

Sateliot closed a €70M Series B to deploy its 5G-IoT satellite constellation, with €13.85M from Spain's state technology fund SETT (taking a…

2025-03-26

Sateliot · Series B · €70M

Sateliot closed a €70M Series B to deploy its 5G-IoT satellite constellation, with €13.85M from Spain's state technology fund SETT (taking a…

2025-03-26

Multiverse Computing · Other · €67M

The Spanish government, through the state technology investment vehicle SETT, committed €67M of equity co-investment into Multiverse Computi…

2025-03-04

Wallbox · Other · $10M

Wallbox raised $10M through a private placement of 26,707,142 Class A ordinary shares subscribed by Iberdrola's corporate venture arm Invers…

2025-02-25

Sensia · Other · €19M

Sensia Solutions, a Universidad Carlos III de Madrid spin-off making AI-based infrared imaging photodetectors for wildfire and gas-leak dete…

2025-02-13

Wooptix · Series C · €10M

Wooptix, a University of La Laguna spin-off working on wafer metrology via wave-phase imaging, secured more than €10M in a Series C co-led b…

2025-01-09

News & media 11

Published	Article
2026-09-19	Spain's SETT Drives $521 Million Investment Push to Build Global Audiovisual Players ↗ Variety (via Yahoo Entertainment)
2026-09-17	La SETT invierte 680.000 euros en Nearby Computing para reforzar la infraestructura digital de España ↗ Press Digital
2026-09-17	Nearby Computing secures €680K to scale cloud-to-edge orchestration platform ↗ Tech.eu
2026-06-29	Spain's Openchip lands €115 million SETT investment to strengthen Europe's semiconductor capabilities ↗ EU-Startups
2026-03-03	LUMO Labs' €100 million impact VC fund receives €6 million from Spain's state-owned investment arm SETT ↗ EU-Startups
2025-09-09	The Spanish Government invests €125 million in funds to boost tech startups. ↗ Plataforma ONE (Spanish Government)
2025-06-17	The Spanish Government backs a European photonic semiconductor hub in Vigo with a €17.2 million investment in SPARC ↗ Optica
2025-03-05	Spanish government raises €67 million for Multiverse Computing for AI compression ↗ EU-Startups
2025-02-18	Wooptix Secures Over €10 Million in Series C Funding Led by Samsung Venture Investment Corporation and Spanish Society for Technological Transformation ↗ Intel Capital (press release)
2025-02-13	The Government of Spain boosts the infrared technology sector with SETT's entry into Madrid-based Sensia ↗ La Moncloa
2024-02-27	Spain to launch public tech investment firm with €20bn capital ↗ deVere Spain