Spain’s Openchip lands €115 million SETT investment to strengthen Europe’s semiconductor capabilities
Barcelona-based scale-up Openchip, specializing in high-performance, energy-efficient chips, has secured a €115 million investment from SETT to accelerate AI and high-performance computing chip design.
Openchip, a Barcelona-based scale-up specializing in the design and marketing of high-performance, energy-efficient chips, has secured an investment of €115 million. The backing came from the Spanish Society for Technological Transformation (SETT), which reports to the Ministry for Digital Transformation and the Civil Service. The funds will accelerate the design of chips for artificial intelligence and high-performance computing (HPC) applications.
Founded in 2021 following an initiative by the Catalan engineering group GTD and the Barcelona Supercomputing Centre-National Supercomputing Centre (BSC-CNS), Openchip currently employs around 300 professionals. The company develops processors and accelerators based on the open RISC-V architecture. Its solutions are designed to deliver high performance with lower energy consumption, helping to reduce the energy requirements of data centers and supercomputing infrastructures.
The investment is part of a broader set of 2026 European funding announcements in semiconductors, photonics, chip-manufacturing infrastructure, and quantum hardware. According to EU-Startups, disclosed rounds and public funding packages in this area total approximately €694.3 million including Openchip. Major transactions include CamGraPhIC’s €211 million state-backed funding for optical interconnects, QuantWare’s €152 million Series B for quantum processors, Equal1’s €51 million round for silicon-based quantum computing, and Lace Lithography’s €34.5 million Series A for next-generation chip production.
Openchip operates under a fabless model, meaning it focuses on semiconductor design and outsources manufacturing to specialist foundries. This model allows the company to concentrate resources on research, development, and commercialization.
SETT’s investment complements and is coordinated with authorization granted last week by the Government of Catalonia (Generalitat) for the regional administration to become a shareholder in Openchip. Under the agreement, Openchip’s registered office, operational center, and business activities will remain in Catalonia. The Generalitat will also have representation on the company’s board of directors. This stake aims to consolidate a strategic project for the development of a European semiconductor industry, generation of technological knowledge, and creation of skilled jobs in the region.
SETT is carrying out this operation through the Next Tech facility, funded by Spain’s Recovery, Transformation and Resilience Plan. This facility aims to boost funding for startups and growth-stage companies in the field of deep tech.
