REG - Substrate Artificial Substrate AI-Class B - Investment round for subsidiary, Subgen AI

Substrate Artificial Inteligence SAAnnouncement

21/03/2024 17:00

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RNS Number : 8548H  Substrate Artificial Inteligence,SA  21 March 2024

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                 info@substrate.ai (mailto:info@substrate.ai)

 Chairman
 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.

 

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