21 March 2024
SUBSTRATE
ARTIFICIAL INTELIGENCE SOCIEDAD ANONIMA
("Substrate AI" or the
"Company")
Substrate AI launches
investment round for its subsidiary, Subgen AI
Ltd
Substrate AI (AQUIS: SAI/SAI.B) announces that it has entered into an
agreement with the FINRA-regulated Californian investment
bank, GT
Securities (the "Agreement"), to identify
potential investors or partners for its subsidiary,
the generative artificial intelligence ("AI") company Subgen AI
Ltd ("Subgen AI") and raise at least €10
million.
The Agreement valued Subgen AI at €200 million and
the investment round will
be raised among investors and international
funds introduced by GT Securities.
Subgen AI is a company focused on
generative AI that is developing its own "domain specific" LLM
models and has launched Serenity Star, an ecosystem to scale
generative AI with more than 100 LLMs and agents, co-pilots and
plugins that allow generative AI projects to be
built in companies
from a low-code-no-code point of
view,
this is, without
having to be specialist in the field, thus democratizing the use of
this technology.
"We want to boost Subgen AI's business with new funding from
this round to capture commercial
opportunities
more quickly with Serenity Star and our LLMs. The
generative AI sector is growing fast and speed is crucial to be
able to gain market
share," says Lorenzo Serratosa,
CEO of Subgen AI.
The Directors of the Company accept
responsibility for the contents of the announcement.
For further information, please
contact:
Substrate AI
|
|
Lorenzo Serratosa
Chairman
|
info@substrate.ai
|
First Sentinel Corporate
Finance
Corporate Advisors
|
|
Brian Stockbridge
|
+44 (0) 7858 888 007
|
About Substrate
AI: Substrate AI is an artificial
intelligence company based in Spain that creates, buys and scales
companies around AI in diverse sectors such as fintech, agritech,
energy, human resources, or health. All of them sell products and
services built on the bio-inspired reinforced learning technology
developed and patented by Substrate AI.
This announcement contains
information which, prior to its disclosure, was inside information
as stipulated under Regulation 11 of the Market Abuse (Amendment)
(EU Exit) Regulations 2019/310 (as amended). Upon the publication
of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public
domain.