The month of February 2021 has set a new record in the accumulated monthly investment in Spanish startups: more than €624 million. A figure that represents more than half of the investment obtained in Spain during 2020 (more than €1100 million), and never seen before. This is partly due to the three mega-rounds announced last week by Wallapop (€157M) and Idealista (€250M); and that of the SaaS company Copado in mid-February (€79.8M). In the past month there have been 31 investment operations, including well-known companies such as Bipi (€6M), Holded (€15M) or Wallbox (€33M), and promising startups with investments in seed stages such as Criptan, PayFlow, Volava and Hannun.
Moreover, if we compare last year with this year, in just two months of 2021, €150 million less has been accumulated than all of 2020 combined: just over €950 million in 2021 compared to €1101 million in 2020. Glovo (€120M), Flywire (€113) and Devo (€50M) were the three most outstanding operations in 2020 with an accumulated €283 million while those of 2021, Idealista (€250M), Wallapop (€157M) and Copado (€79.8M) add up to just over €486 million. If you want to know all the history of public operations of Spanish startups you can see it in our section.
ALL THE OPERATIONS
Idealista: the real estate portal continues to expand its shareholder portfolio with the return of Apax Partners. The investment firm sold its shares at the end of 2020 to EQT but has now returned with an outlay of €250 million in exchange for 17% of the company’s capital.
Wallapop: the app for buying and selling second-hand items has closed a new financing round for €157 million. The deal was led by the French investment fund Korelya Capital and included the participation of the Korean company Naver and previous partners such as Accel, Insight Venture Partners, 14W, GP Bullhound and Northzone.
Copado: the SaaS platform founded by Philipp Rackwitz and Federico Larsen has raised €79.97 million in a Series B round, led by Insight Partners and Salesforce Ventures and with participation from Lead Edge Capital, ISAI Cap Venture and Perpetual Investors. The company will use the capital to face an international expansion plan and increase the functionalities of its platform.
Wallbox: the producer of chargers for electric cars has closed a round of €33 million, which will allow it to expand its offices in Europe, its facilities for the manufacture and research of its products and hire more than 400 new employees. The deal was led by Cathay Innovation and Wind Ventures, joined by Seaya Ventures and Iberdrola, among other investors.
Koa Health: the digital mental health care provider raised €30 million. The round had a first closing in October 2020, led by Wellington Partners Life Sciences and Ancora Finance Group; and has now been completed with the entry of MTIP and Akilia Partners, and additional contributions from Creas Impacto, Sabadell Asabys and Mundi Ventures. The funds will be used to fuel Koa Health’s growth and expansion.
Highlight Therapeutics: the startup raised €22.6 million in a round led by Columbus Life Science Fund II and Advent Life Science. It also received €3.6 million from CDTI through its Innvierte program and other partners.
Holded: the startup that helps small companies to digitize through its ERP software has closed a Series B for €15 million. The operation is led by Elaia Partners, together with its partners Lakestar, Nauta Capital and Seedrocket, who have relied on the growth potential and consolidation of Holded, which will expand its team to strengthen the technology and business areas; continue developing the product; and improving the fintech services integrated in the platform.
Bipi: the car subscription marketplace has raised €6M in a round led by P101 SGR and ITALIA 500. This is the second part of the Series B round that already provided €10.5 million to the startup in October 2020 and brings the investment to €16.5 million.
BusUp: the company has closed a €5 million investment round.
The operation and was led by Proeza Ventures, backed by Autotech Ventures and where it has entered, among others, Finaves V of the IESE business school. The capital injection will enable the company to boost its activity in recently opened markets, such as the United States, Mexico, and Peru.
Izertis:: the company specializing in providing digital transformation services, as well as technological capabilities and operations at the most advanced value-added layer, will receive convertible bonds worth €4 million that will enable it to accelerate its inorganic growth plan.
Hannun:: the sustainable and handcrafted furniture and decoration firm has closed a €3 million round. Several prestigious investors such as Josep Casas, Javier De la Rosa, Andreas, Sergi Audivert and Miquel Angel Bonachera joined this capital increase.
With this operation, the company reaches a valuation of more than €10 million.
Twinco Capital: the fintech that uses advanced supply chain data analytics to provide affordable working capital to suppliers in emerging markets of large corporations, has raised a €3 million round led by Mundi Ventures.
Card-Dynamics: raised €2.5 million in a financing round led by Big Sur Ventures together with GAA, a US-based investment management firm, and other private investors.
Volava: the startup has driven the concept of connected home fitness integral in Europe has raised €2 million in a new investment round, led by Inveready, JME Ventures and Wayra and backed by various venture capitals.
Lang.ai: the SaaS platform received an investment of €1.66 million in an investment round led by Village Global. Other investors such as Acceleprise, Oceans Ventures, Alumni Ventures Group, 2.12 Angels, GTMFund and Lorimer Ventures also participated in the deal.
MiMark: EIT Health has announced its support for the MiMark and Orbit Health teams, following its Wild Card 2020 program. The two teams will receive support from the European Institute of Innovation and Technology in Health for two years with up to €1.5 million each.
Triditive: the company that develops automated additive manufacturing solutions to scale production at industrial level, has closed a €1.49 million round. The operation was backed by Stanley Ventures (Stanley Black & Decker), Techstars, Hunosa Empresas, Cuarta Financiación, IDEPA, among others.
YBVR: the next-generation XR video distribution platform has closed a €1.24 million round in which Verizon Ventures, Telefónica’s Wayra and Tech Coast Angels participated.
The capital will be used to enhance the company’s technology, build its team, and drive key partnerships.
Aflorithmic:: the Barcelona and London-based startup has raised €1.1 million through a partnership with Crowd Media Holdings.
Aflorithmic has developed an audio-as-a-service platform via an API to power the next generation of audio creation.
Kubbo: the eCommerce startup has closed a second round of €1 million investment. The objective is to accelerate its expansion in the Spanish market. To this end, it has given entry to THCAP (Telegraph Hill Capital), a round in which the Portuguese fund BYND, Lánzame Capital and the investor Javier Dolcet have participated. Some of the current partners, such as Itnig and Successful Ventures, have also increased their participation.
Other rounds of less than one million Euro have also been closed, such as that by Visualfy (€520,000), Inbentus (€510,000), Criptan (€500,000), Payflow (€400,000), PlayJoy Games (€300,000), The Sampling Solutions (€260,000), InBiot Monitoring (€204,000), Delitbee (€100,000) and Veris Behavior (€30,000).