Frenetic in a €4.5 million financing round led by Bonsai Ventures and Join Capital.

Frenetic, a Madrid, Spain-based a power electronics producer of optimal magnetic designs with the use of artificial intelligence, announced the completion of a €4.5 million ($5.3M) financing round.

The money was raised from investors including Bonsai Ventures (Spain) and Join Capital (Germany), joined by existinh shareholders 42Cap (Germany), Big Sur Ventures (Spain) and Bankinter (Spain).

Frenetic, developed by Sp Control Technologies and founded in 2015 by CEO Jose María Molina García, is an AI technology that is constantly learning how to design magnetics and optimize the manufacturing process. The product is in use by customers including Huawei (from its automotive branch), Indra (military), Airbus (aerospace) or Novasonix (medical area).

Frenetic previously raised €1.3 million in 2019.