Sp Control Technologies secured EUR 1.3 million for Frenetic from 42Cap, Big Sur Ventures, Bankinter and Busy Angels

Sp Control Technologies, a Madrid, Spain-based producer of optimal magnetic designs with the use of artificial intelligence, announced the completion of a EUR 1.3 million ($1.5M) capital investment round.

The funding was led by German investor 42CAP and included investors from Spain Big Sur Ventures, Bankinter and from Portugal Busy Angels.

Sp Control Technologies, founded in 2015 and led by CEO Jose María Molina García, built Frenetic, 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).