# SETT

> SETT is a VC fund in Madrid backing Software, Artificial Intelligence and Semiconductor. See 32 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Madrid, Colombia
- Total investments: 32
- Last investment: Jul 2026
- Lead investor: 75%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/sett-spain
- Website: https://x.com/SETT_Spain

SETT is a VC fund in Madrid focused on Software and Artificial Intelligence. SETT takes the lead in the public sector in establishing the framework that will position Spain as a leader in investing in disruptive digital technologies. SETT is an actor that creates investment opportunities and a public lever for business opportunities in cutting-edge and revolutionary technologies because of its function as a managemententity for particular investments through capitalizations and loans.

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1.2M–$28M |
| Venture - Series Unknown | $1.2M–$35M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 8 | 25% |
| Artificial Intelligence | 7 | 22% |
| Semiconductor | 5 | 16% |
| Information Technology | 5 | 16% |
| Machine Learning | 4 | 13% |

54 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Venture - Series Unknown | 13 | 41% |
| Seed | 5 | 16% |
| Funding Round | 3 | 9% |
| Series A | 2 | 6% |
| Series B | 2 | 6% |

11 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Spain | 23 | 72% |
| Colombia | 2 | 6% |
| Norway | 1 | 3% |
| United Kingdom | 1 | 3% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Kumori Systems | Kumori systems provides cloud management solutions with a focus on Kubernetes and SDLC automation. | $1.7M | Venture - Series Unknown | Jul 29, 2026 |  |
| Multiverse Computing | Multiverse Computing creates quantum computing software that uses probabilistic or nondeterministic technology to solve complicated real-world challenges. The company provides software tailored to the needs of portfolio optimization challenges, risk analysis, and market simulation, giving companies in a variety of industries, including banking,energy, manufacturing, and logistics, the opportunity to benefit from the second quantum revolution. | $569.6M | Series C | Jul 27, 2026 |  |
| Onalabs Inno-hub | Onalabs develops remote, continuous and non-invasive bio-medical devices to monitor through the skin and sweat several vital signs and some biomarkers. Onalabs is the first non-invasive device able to measure some chemical parameters present in sweat using miniaturised biosensors. Its non-invasive products based on wearable formats empower thepatients and their families to measure relevant vital signs and biomarkers anytime and anywhere, allowing them to detect and monitor early stages of possible clinical deterioration, which could prelude in earlier management strategies, resulting in shorter hospital stays and prevention of unnecessary treatments. The solutions are addressed to chronic patients, such as COPD, HF and Diabetes. | $10.6M | Venture - Series Unknown | Jul 24, 2026 |  |
| Impulse Studio | Impulse Studio is Spain's first large-scale integrated independent studio designed to manage the complete audiovisual production process, from development financing to international distribution and sales. | $4.5M | Venture - Series Unknown | Jul 16, 2026 |  |
| Amuse Animation | Amuse Animation's two main areas of expertise are high-quality service production for 2D and 3D animation and the development and incubation of original intellectual property (IP) either internally or in partnership with elite toy and content developers. | $7.3M | Venture - Series Unknown | Jul 16, 2026 |  |
| Sherpa.ai | Sherpa.ai, based in Bilbao and Silicon Valley, is a leader in Artificial Intelligence services. Among its AI services are the white-label conversational Digital Assistant, predictive technologies, and the most advanced AI framework applied to data privacy in the world. Plus, Sherpa.ai has been named one of the top 10 leading Artificial Intelligencecompanies in the world, alongside Google, Amazon, Microsoft, and IBM. In 2019, Tom Gruber, founder and ex-CTO of Siri, joined the team; and in 2020, marketing executive Joanna Hoffman, the former Marketing Director at Apple, became part of the team, along with Celestino García, the ex-Corporate Vice President of Samsung and current Vice President of Business Development at Sherpa.ai. Sherpa.ai’s Artificial Intelligence platform is designed to improve companies' results. Sherpa.ai has agreements with companies like Porsche, Volkswagen, Prisa, and Samsung, among others. To learn more about Sherpa.ai: http://www.sherpa.ai/ Sherpa Keynote 2020: https://www.youtube.com/watch?v=uPPvTCxg92o Sherpa.ai’s Response to COVID-19: https://www.youtube.com/watch?v=E65xMrrqwFM | $18M | Venture - Series Unknown | Jul 06, 2026 |  |
| Substrate AI | Substrate AI offers artificial intelligence technology for fintech, agriculture, energy, human resource, and student training fields. | $44.6M | Debt Financing | Jun 29, 2026 |  |
| Openchip | Openchip designs RISC-V-based SoCs and AI accelerators for HPC, AI, ML, and deep learning applications. | $131.4M |  | Jun 29, 2026 |  |
| Multiverse Computing | Multiverse Computing creates quantum computing software that uses probabilistic or nondeterministic technology to solve complicated real-world challenges. The company provides software tailored to the needs of portfolio optimization challenges, risk analysis, and market simulation, giving companies in a variety of industries, including banking,energy, manufacturing, and logistics, the opportunity to benefit from the second quantum revolution. | $122.1M | Venture - Series Unknown | Jun 23, 2026 |  |
| Atypics Photonics | Atypics Photonics is a company focusing on prototyping, integration, & manufacturing of photonic integrated circuits and semiconductors. | $27.9M | Seed | Jun 23, 2026 |  |

10 of 32 investments shown.

## Co-investors
- [Ekarpen](https://shizune.co/investors/profile/ekarpen) — VC Fund, 2 deals together
- [IQ Capital](https://shizune.co/investors/profile/iq-capital-partners) — VC Fund, 2 deals together
- [10x Group](https://shizune.co/investors/profile/10xgroup) — VC Fund, 1 deal together
- [1921VC](https://shizune.co/investors/profile/1921vc) — VC Fund, 1 deal together
- [Acurio Ventures](https://shizune.co/investors/profile/acurio-ventures) — VC Fund, 1 deal together
- [A&G Energy Transition Tech Fund](https://shizune.co/investors/profile/a-g-energy-transition-tech-fund) — VC Fund, 1 deal together

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## FAQ

### What does SETT invest in?

SETT invests primarily in Software, Artificial Intelligence and Semiconductor startups, most often at Venture - Series Unknown and Seed stage. Most of the 32 investments tracked by Shizune back companies in Spain. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is SETT's check size?

SETT typically joins rounds of $1.2M–$28M at Seed and $1.2M–$35M at Venture - Series Unknown. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds SETT participates in.

### When did SETT last invest?

The most recent investment recorded for SETT closed in Jul 2026. Shizune tracks 32 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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