Substrate AI collects another €3.95 million from a funding round still open

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Substrate AI, a Spanish AI company, has collected another €3.95 million from a funding round that is still open. The state's Sociedad Española para la Transformación Tecnológica (SETT) put in €1.95 million, and two private investors, Loft Structured Opportunities Fund I and 8 International Ltd., added €1 million apiece. The money comes as convertible bonds that may turn into shares over the next few years.

This is the third instalment, bringing the total received to roughly €11.75 million out of a potential €39.2 million. SETT alone had already committed €19.1 million under a public-private arrangement, so the commitments remain comfortably ahead of the cash.

Substrate AI works from Madrid and Talavera de la Reina and sells businesses tools to build and run AI agents, along with governance, compliance, security, data residency and integration with existing systems. It has more than 500 clients across health, industry and technology and over 200 staff, and counts cloud computing infrastructure for AI among its projects.