Madrid-based Frenetic, who are pioneering custom magnetics technology, have announced a $12 million Series A round. The round, which brings their total investment to $19 million, was led by Kibo Ventures, who were joined by existing investors, 42Cap, Join Capital, Bankinter, Bonsai, and Big Sur. Frenetic will be using the funding for a new manufacturing project and expansion in the US, including the opening of a new Silicon Valley office.

The importance of magnetics in power

The relationship between power and magnetics has long been known: magnetism was at the heart of the very first experiments in electricity. However, the conventional approach to design has been trial and error. This has resulted in a time-consuming process that means that the power supply we all take for granted may have taken nine months of concentrated design time.

Founded in 2018 by Dr Chema Molina, Frenetic is dedicated to improving the quality of magnetic design. The company has attracted a range of names from industry and academia to pursue that vision, including Ivan Taboga from Electrolux, and Jonas Mühlethaler, who founded of Gecko Simulations and is currently Professor at the Lucerne University of Applied Sciences and Arts.

With three offices across Europe, and a research centre in Switzerland, the company had already made great progress in magnetic design. Using artificial intelligence, their platform can design and simulate magnetics without the need for a physical product. This allows engineers and product designers to iterate through the thousands of combinations of topologies, shapes, and materials within the software environment rather than the lengthy process of testing physical models.

Available both as a SaaS and a licensing model, the platform means that the magnetics have been validated before a physical prototype is produced. And slashes production time from the previous nine months to as little as a week, promising a transformative effect on power supply production.

Transforming power magnetics everywhere

Frenetic is already seeing the difference their platform can make to clients. And Frenetic’s magnetics are already found, even in space, an environment where there is no ability to refine products once in use. They are already working with space manufacturer Thales Alenia Space, who have used their Frenetic-designed magnetics in the International Space Station.

Frenetics has also been working with components manufacturer Sumida, who are one of the world’s leading suppliers of power components and modules, and Novosonix from the medical sector.

“The global magnetics market was valued at $38.3 billion” said Molina. And the market is only expected to expand, he says, “there will be more and more demand for magnetics across the industrial and electronics sectors, driven by favourable regulations from Governments, and increasing demand for electric vehicles and next-generation electrical appliances.” By 2028, the market is expected to be worth $49.3 billion.

Kibo Ventures’ Partner Juan Lopez said that Frenetics’ track record mean they were confident about the future. “Frenetic’s technological potential and prospective influence on the magnetics market is vast. Since its inception, the company has consistently excelled,” he said. “We believe Frenetic is poised to make waves across the magnetics industry at a global scale.”

And Molina echoed that confidence. “We were born to revolutionise the magnetics industry,” he said. “This funding round enables us to scale into the US fast to support more customers while working on new products and solutions.”