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  • Writer's pictureMLCode

MLCode, the company specialized in the automation of data management and security for Artificial Intelligence, closes seed round with Bullnet Capital

• MLCode, a start-up specialized in the automation of data management and security for Artificial Intelligence, received its first investment from Bullnet Capital in June 2023

• The start-up, founded in early 2023 by Joan Raventós and Sergi Zapater, aims to monitor the use of LLMs, large language models, identifying and mitigating emerging risks

Barcelona, 9th May 2024. Bullnet Capital, an independent Spanish venture capital firm specialized in deep tech projects, has made a new investment in MLCode, a start-up dedicated to the development of a software platform for the automation of data management and security for AI.

The company was founded by Joan Raventós and Sergi Zapater, entrepreneurs with recognized experience in the world of software and who in the past have co-founded or actively participated in companies also invested in by Bullnet Capital and subsequently acquired by large multinationals in the sector such as Samsung (which acquired Zhilabs) or Ericsson (which acquired Netspira Networks). They also participated in the launch of Viewtinet, a spinoff of Zhilabs focused on the Enterprise market and also participated by Bullnet Capital.

With the increasing adoption of AI/ML technologies, data is becoming an essential resource for businesses. Organizations are increasingly integrating Generative AI, especially highlighting the adoption of LLMs. This technology not only significantly improves efficiency, but also expands the possibilities for interaction, both in internal processes with employees and in customer service.

MLCode's technology enables companies to monitor the use of LLMs, identifying and responding to emerging risks to mitigate their impacts. This monitoring focuses on the data that is essential to the operation of these advanced AI systems, ensuring the integrity and security of the information.

With this new investment from Bullnet Capital, the company will be able to accelerate its time to market. The investment is supported by InnovFin's SME Guarantee Facility, with the financial backing of the European Union under the Horizon 2020 financial instruments.

Joan Raventós and Sergi Zapater, co-founders of the project, explain that: “The AI solutions adopted by companies operate under new and complex paradigms, which present various security, reliability, and ethical risks. MLCode, with its HexaKube product, monitors the data underlying these systems. After all, data essentially is the code for this new type of system”.

According to Miguel del Cañizo and Javier Ulecia, founding partners of Bullnet Capital, “when Joan and Sergi told us about the project just over a year ago, we had little doubt that they would be able to develop a solution that would attract the attention of large and medium-sized companies in various sectors. Today, and given the interest of top-level companies, including several IBEX companies, we have no doubt that they will be able to become a benchmark player on an international level”.

About Bullnet Capital:

Bullnet Capital is an independent Spanish venture capital investment firm focused on high-tech companies (software, electronics, semiconductors, photonics) established in 2002, managing a total of €140 million through various investment vehicles. To date, Bullnet Capital has invested in twenty-five early-stage Spanish companies and maintains its investment philosophy of adding value by contributing to the day-to-day operations of portfolio companies.

About ML Code:

MLCode is a recently created deep tech start-up. Its vision is the software automation of all areas around data, with special focus on quality and security, for use in AI. The founding team has extensive experience in AI software deployed worldwide in the most advanced Clients.

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