State-backed SETT invests €680,000 in Barcelona's Nearby Computing as part of €1.4 million deal

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The Spanish Society for Technological Transformation (SETT), which reports to the Ministry for Digital Transformation and Civil Service, has put €680,000 into Nearby Computing as part of a €1.4 million public-private financing. The money comes through SETT's Next Tech facility, funded by the EU's Next Generation funds via Spain's Recovery, Transformation and Resilience Plan, which exists to back deep-tech start-ups and scale-ups.

Nearby Computing is based in Barcelona and was spun out of the Barcelona Supercomputing Center and the Universitat Politècnica de Catalunya. It sells software for infrastructure that no longer sits in one place: cloud, edge and AI systems spread across factories, shops, power plants and telecom networks. Its platform, NearbyOne, runs all of it from one control plane whatever the hardware or provider, and keeps critical applications working locally when the connection or the central cloud fails. Service providers use it to manage 5G Core and RAN gear from several vendors as one fleet, retailers to run AI applications across hundreds of stores, and energy firms to handle assets and sensors on power grids.

The funds will go to growth and further work on NearbyOne. Chief executive Josep Marti called fragmented infrastructure "one of the biggest hidden costs in enterprise IT today." Software sold on staying up when everything else goes down is, on reflection, a natural thing for a government to want a piece of.