Bullnet Gestión SGEIC SA, doing business as Bullnet Capital, for a second time invested into Spanish artificial intelligence security company ML Code Software SL.
Bullnet Capital initially invested in ML Code in June 2023, according to a May 9 news release from the Spanish venture capital firm.
ML Code specializes in technology that allows companies to monitor large language models to identify and mitigate potential risks related to artificial intelligence. Bullnet and ML Code expect the investment to speed up its arrival to the market.
Miguel del Cañizo and Javier Ulecia, founding partners of Bullnet Capital, said:
“We had little doubt that [ML Code] would be able to develop a solution that would attract the attention of large and medium-sized companies in diverse sectors. Today and given the interest of top-level companies, including several from the IBEX, we have no doubt that they will be capable of becoming a leading player at an international level.”
ML Code’s founders, who formed the company in early 2023, participated in companies that Bullnet Capital has also invested in such as Zhilabs and Netspira Networks, which were acquired by Samsung Electronics Co. Ltd. and Telefonaktiebolaget LM Ericsson, respectively.
The European Union financially supports the investment under the Horizon 2020 financial instruments.