Substrate AI debuts on BME Growth with a valuation of almost 95 million

MADRID, 17 May.

Substrate AI debuts on BME Growth with a valuation of almost 95 million


The artificial intelligence company Substrate AI made its debut this Tuesday on BME Growth with a price of 4.3 euros per share and a valuation of almost 94.9 million.

The president of the firm, Lorenzo Serratosa, the CEO, José Iván García, and the director of Technology, Bren Worth, have starred in the ringing of the bell this morning at the Palacio de la Bolsa in Madrid.

By having an atomized shareholding, the firm has begun trading without a prior sale offer or share subscription.

The Managing Director of BME Growth, Jesús González Nieto-Márquez, highlighted that the incorporation of Substrate AI deepens the sectoral diversification of the 'SME Stock Market' and the consolidation of the Pre-Market Environment as the launch platform for the markets financial perfect for small and medium businesses.

Substrate debuts on the floor with a capital mainly controlled by the top management and 22 million shares in trading under the code SAI.

The company expects to invoice, thanks to its acquisition strategy, more than eight million euros in 2022, a figure that it expects to rise to almost 18 million euros in 2023.

The company offers services in the verticals of Fintech, Human Resources, Industry, Energy, Agritech and Health and next year it will start its activity in Mining and Contact Center.

According to its incorporation brochure, it is finalizing the purchase of the adhesive label manufacturer Ibi, which will contribute almost one million euros of gross operating profit (Ebitda) to the group that the firm will reinvest in greater innovation.

This is the third company to debut this year in BME Growth after Vytrus and Enerside.