Madrid-based Frenetic is making waves with its innovative custom magnetics technology, having just announced a successful $12 million Series A round. This latest funding, led by Kibo Ventures, elevates their total investment to $19 million and opens the doors for an exciting new manufacturing project. Frenetic's expansion also includes setting up shop in the US, with the launch of a new office in Silicon Valley.
The relationship between power and magnetics dates back to the earliest days of electricity experiments. But the traditional approach to magnetic design has been trial and error, resulting in time-consuming processes. It's not uncommon for the design of a power supply to take up to nine months of concentrated effort.
Founded in 2018 by Dr. Chema Molina, Frenetic is on a mission to enhance magnetic design quality. The company has attracted talent from both industry and academia, such as Ivan Taboga from Electrolux and Jonas Mühlethaler, founder of Gecko Simulations and a current professor at the Lucerne University of Applied Sciences and Arts.
With three offices across Europe and a research center in Switzerland, Frenetic has made significant strides in magnetic design. Thanks to artificial intelligence, their platform can design and simulate magnetics without requiring physical prototypes. This means engineers and product designers can explore a vast array of topologies, shapes, and materials in a software environment, eliminating the time-consuming process of testing physical models.
Available as both a SaaS and a licensing model, Frenetic's platform ensures magnetics are validated before any physical prototype is created. This advancement drastically reduces production time from nine months to as little as a week, promising a transformative effect on power supply production.
Frenetic is already demonstrating the difference its platform can make for clients. Their magnetics are deployed in a wide array of applications, including space. They've partnered with space manufacturer Thales Alenia Space, which uses Frenetic-designed magnetics in the International Space Station.
Additionally, Frenetic collaborates with components manufacturer Sumida, a leading supplier of power components and modules, and Novosonix in the medical sector.
Dr. Chema Molina emphasizes the growing importance of magnetics in the global market. "The global magnetics market was valued at $38.3 billion," he notes, "and it's projected to expand further due to favorable government regulations and increasing demand for electric vehicles and next-generation electrical appliances. By 2028, the market is expected to reach $49.3 billion."
Juan Lopez, Partner at Kibo Ventures, expresses confidence in Frenetic's potential. "We believe Frenetic is poised to make waves across the magnetics industry at a global scale," he said.
Dr. Chema Molina is equally optimistic about the future. "We were born to revolutionize the magnetics industry," he declared. "This funding round enables us to scale into the US rapidly, support more customers, and work on new products and solutions."