June ended with a new record in the number of public investment operations in the startup sector:41 (if we count the 12 investments made by TheVentureCity in the first half of the year), which accumulate a total of €109 million invested in startups in Spain. June becomes the second month of 2020 with the highest investment in startups in Spain (€109M) behind February, which closed with €137.89M in a total of 15 public operations, and above all thanks to the Flywire round of €110M.
Of the 41 operations, four of them exceed €10 million and fit into the B and C series. The most important one was closed by Onnafor €24 million and included the funds Dawn Capital, Nauta Capital, Slack Fund, Ben Blume and Atomico. Ontruckalso closed a new round of investment, this time for €17 million, with participation from the international funds: Oil & Gas Climate Initiative, Cathay Innovation, Atomico, Idinvest Partners, Total Carbon Neutrality Ventures and Endeavor Catalyst. The operations of Hotels Network(€10 million) and Colvin(€14 million) also stand out.
PUBLIC OPERATIONS JUNE 2020
Onna: the first Knowledge Integration Platform (KIP), closed a €24 millionSeries B investment round. This round of funding, led by the Atomico investment fund and with the participation of Glynn Capital, will be used to expand the engineering, product, and partnership teams. The existing investors, Dawn Capital, Nauta Capital and Slack Fund, also participated in this capital increase. As a result of the round, Atomico’s Ben Blume will join Onna’s Board of Directors.
Ontruck: the leading digital freight platform in Europe, closed a €17 millioninvestment round led by the Oil & Gas Climate Initiative (OGCI) fund. Cathay Innovation, Atomico, Idinvest Partners and Total Carbon Neutrality Ventures, current investors of Ontruck, also participated in this round which was joined by Endeavor Catalyst as a new investor. The investment by OGCI Climate Investments will accelerate the development of Ontruck’s transportation network, which in turn will be able to benefit from the experience and resources of OGCI members to achieve the common goal of improving energy efficiency in commercial transportation.
The Hotels Network: the direct growth platform for hotels obtained €10 million in a B series round. The round was led by Elaia and included the participation of Seaya Ventures and Seedrocket 4Founders. To survive and grow in the digital environment, hotel brands need to build a strong direct channel. By betting even more on its commitment to the hotel industry, THN will use these funds to create the products that hotels need within the current context.
Zeleros: the startup obtained more than €7 millionin a financing round. The Valencian company is opening a new and important stage in the development of its unique version of the hyperloop, the “fifth means of transport” and the best alternative for the future to cover long-distance passenger and freight routes in an efficient and sustainable way. Zeleros opens this new stage thanks to the support of companies such as Altran, the Red Eléctrica Group and also strategic investors at national and international level, including among others Goldacre Ventures (United Kingdom), Road Ventures (Switzerland), Plug and Play (USA), and the Spanish Angels Capital and MBHA. The funds will be used to promote the development of Zeleros’ hyperloop vehicle and its technologies.
Colvin: the company in the flower and plant sector that has created the first network without intermediaries, closed a Series B round worth €14 million. The operation is led by the Italian investment fund MIP, which together with P101 sgr and Samaipata, all previous partners in the company, have once again placed their trust in Colvin’s potential for growth and consolidation in the European market and in its strength to change a traditional sector that is ready to innovate.
Oxolife: the biotechnology company created to develop a new treatment to improve female fertility, completed its first round of funding worth €5 million. The operation was led by the venture capital firm Inveready and the public body CDTI through its Innvierte program. Other participants include Banco Sabadell’sBStartup (which selected the company as one of the three winners of the 2nd Edition of BStartup Health), HighStick2019 and private investors through the Capital Cell platform (in a €1.2 million operation carried out in early 2020).
SingularCover: the company raised a Series A of €4.47 million. The aim of the round is to digitize the entire value chain (distribution, management and claims), include more insurance product and combine it with value-added service offers for SMEs and the self-employed, as well as to test new markets for international expansion. The incorporation of foreign funds validates the projection of the business model and the repetition of its main investors consolidates their confidence in the future of the company.
CounterCraft: the leading European company in cybersecurity closed a €4.45 millionfinancing round led by Adara Ventures, together with investors such as Wayra, eCAPITAL and Grupo Red Eléctrica. It also increased the participation of its previous investors, among which are Evolution Equity and ORZA. The company is currently in a phase of international expansion with its Cyber Deception product, a pioneering technology for defense against cyberthreats.
QIDA: the social impact company focused on improving the quality of life and care of chronic and/or dependent patients from the home and training the group of carers, closed a round of investment of €3.6 million, led by Creas, a pioneering manager in Spain in impact investment. The capital of the round, which was joined by other impact funds such as Equity4Good, the vehicle managed by Ship2B, and the Social Stock Exchange Fund, aims to transform the home care system for these patients through quality care and proactive monitoring based on technology.
BioAmmo: the Spanish biotechnology company, dedicated to the manufacture and distribution of fully biodegradable cartridges for hunting and shooting, closed a capital increase of €3.3 million. With this operation the company will expand the facilities of its factory located in the Segovia municipality of Santa María la Real de Nieva. Specifically, Bioammo will acquire a second production line that will be available during the second quarter of 2021 and will be a line adapted to biodegradable materials and, therefore, more efficient than the current one. This expansion will also allow the workforce to increase by 20 people and go from the current production of 20 million cartridges to 100 million by 2021.
Housfy: the commission-free online real estate company that allows individuals to earn more money by selling their homes, obtained €3 millionin a round whose main objective is to take advantage of the digital transformation that many sectors in Spain are undergoing as a result of the Covid19 pandemic to accelerate its growth. Seaya Ventures, which has accompanied Housfy since its launch, and international funds such as Torch Capital, DN Capital and Cathay Capital, which entered the previous round, have entered the operation. The new capital injection will be used to open the new leasing division, as well as to grow the purchase and sale and mortgage verticals at a national level.
Declarando: the startup of the fintech sector received €2.2 millionin a round led by the investment vehicle JME Ventures. Other firms in the sector have also participated, such as Encomenda, Smart Capital, Bankinter Foundation and Sabadell Venture Capital. Currently, the fintech Declarando has collaborated with more than 40,000 self-employed workers and has a professional team of 40 people. According to the company, its long-term objectives are focused on “the internationalization of the firm and access to the Mexican market by the end of the year”.
BEWE: the management software services company specializing in the wellness, fitness, and beauty sectors, raised €2 millionin a deal led by DILA Capital and SEAYA Ventures, to strengthen its US presence and support its international expansion into new markets. The company allows its clients the option of creating a personalized app for their business and with which their own clients can make reservations and pay for their subscription.
Essentialist: the personalized travel planning service exclusively for members, closed a round of €1.17 millionwith the collaboration of a group of Spanish and international investors led by Sabadell Venture Capital, the venture capital vehicle of Banco Sabadell, and Turtle Capital. The platform, which has already received an economic injection from the bank through BStartup, allows users to make unlimited trips with tailor-made itineraries, managed by a tourism designer and created with a network of publishers around the world. As indicated by the platform’s sources, the financial resources will be used for the growth strategy in the United States, as well as for the implementation of the firm’s international expansion.
Kymatio: the SaaS platform that allows the management of the cyber risk of employees, has increased by 40% its first round of investment to be able to accommodate two new partners, BStartup from Banco Sabadell and the JME Ventures fund, thus joining the round led by The Crowd Angel, which had supporters such as Wayra, Telefónica’s open innovation hub, and prominent business angels such as Enrico Raggini. The round amounts to €725,000.
Taclia: the multi-service company dedicated to the repair and maintenance of multi-center clients (retailers, hotels, insurance, etc.), received the support of THCap and a Family Office in its second round of investment. The contribution, of around €500,000, will help Taclia to continue growing, to become a consolidated business in the market.
Aunoa: Through its corporate venturing vehicle GoHub Ventures, Global Omnium announced a €500,000investment in the startup, which has unique software capable of improving artificial intelligence responses in virtual assistants for automated customer service. DWF-RCD and Capital & Management were involved in the transaction as advisors.
Dinbeat: the startup specialized in the development of innovative and technological products for the pet sector, successfully closed its second round of investment for an amount of €500,000. The round, which was entirely structured in convertible notes, was attended by current partners, investors from IESE’s Business Angels Network, Afintia, Accelgrow, veterinary professionals from the health sector, and other business angels familiar with the project. At the end of last year, Dinbeat launched Dinbeat UNO, a wearable device for professional veterinary use that wirelessly monitors pets’ health in real time, collecting information on electrocardiogram, heart rate, respiration per minute and temperature, among other metrics.
Livetopic: the insurtech reference with headquarters in Galicia and Madrid, has closed a financing round worth €500,000with the support of Medicorasse (Grup Med) and the concession of a CDTI-NEOTEC project. This capital joins that already raised previously by Livetopic, reaching one million Euro of capital raised. The Livetopic cap table includes business angels such as Telmo Perez Luaces, Sixto Arias, Joaquin Huergo Luz, Angel Vazquez, and institutional partners as Vigo Activo (Venture Capital participated by the Consortium of the Vigo Free Zone). Among the investors there is also Conector, an accelerator that has mentored the startup.
Sepiia: in June, the startup obtained a new round of financing of €500,000to continue investing in ethically manufactured technological garments, thus minimizing the environmental impact and offering the consumer an alternative consumption with functional, durable, sustainable and Made in Spain products. The operation has included the participation of the main Private Investors Club and fund manager, Faraday Venture Partners, specialized in business initiatives, which will allow the development and growth of Sepiia’s business network, the Bolsa Social fund, a social impact investment vehicle, which will contribute to the evolution and improvement of the good practices in sustainability and ethical responsibility of the company. Valencian technological companies such as Polymer Char have also participated as shareholders in this financing round.
Oliver: the platform that improves performance and prevents injuries in football, has closed a funding round of €400,000. The application reduces the chance of injury by up to 45%, which means that almost half of all injuries to a team are avoided.
Emérita Legal: the Spanish legaltech, dedicated to the analysis of judicial data with Artificial Intelligence technologies, closed in the middle of the Covid-19 crisis and in little more than a month a new round of investment for €260,000. The capital of this operation, in which the investment funds SociosQ and ArchipélagoNext have participated, and which has also been joined by the majority of the pre-existing investment partners, will be used to reinforce the consolidation of Legaltech as a leading service in Spain in the search for information on lawyers and law firms, as well as to continue promoting its expansion project into Italy, where it has already taken its first steps.
Beseif: the platform for payments and shipments between individuals, received €250,000non-recoverable from the CDTI’s NEOTEC program. The CDTI is a public business entity, dependent on the Ministry of Science and Innovation, which promotes innovation and technological development in Spanish companies. Beseif will allocate NEOTEC’s investment to research on dynamic generation of Smart Contracts for the creation of payment systems on Blockchain technology.
Clupik: the Madrid-based startup has raised €200,000in its first round with contributions from current members and new investors from the sports and communication sector. Álvaro Herranz, CEO of Clupik and one of its founding partners, has assured that “this investment comes at an important time for us as a company, but, above all, at a very important moment for grassroots sport. We want to help and support sports clubs in these difficult and uncertain times, promoting their digital transformation and putting a professional management and communication tool within their reach. This capital increase allows us to continue improving and bring Clupik to more clubs, more sports, and more regions”.
Foodstories: the e-Commerce of healthy mealkits provides customer with the exact ingredients to prepare the recipes they sell on their website, got its first round of funding worth €200,000. In the operation they had an FFF profile “with a desire to add value to the project, and with a history of investment in other successful startups,” as commented from the company. The founders also emphasize that this round has been closed in the middle of the COVID crisis, “which shows the confidence of private investors in an alternative business model very much in line with the new concerns of society after this health crisis”.
Titbit.tv: The online video production platform Tibit.tv has raised €150,000for its launch. After more than a year of work to optimize the processes and the product adapting it to the needs of their clients, they have just officially launched the platform, specifically relying on this round that, according to their co-founders Adrià Coll and Arnau Seix, was achieved in spite of many difficulties. “In February, two days after signing the round before a notary public, our investor died, and we had just over two weeks to find new investors. We succeeded, but a few days after closing the financing, Spain went into lockdown due to the coronavirus pandemic,” say the entrepreneurs.
Dualmetha and Hygen: The Enagás Emprende entrepreneurship program has invested in the companies DualMentha and Hygen, with the aim of boosting renewable energies, supporting the energy transition, and encouraging the use of innovative decentralized gas refueling solutions for vehicles anywhere. Through the alliance with DualMetha, Enagás will reinforce its firm commitment to the development of renewable gases. “In this way, we are continuing with our goal of achieving carbon neutrality by 2050, both in our activity and that of our partners,” explained Marcelino Oreja, CEO of Enagás.
Sherplay: the application created to help health professionals, based in Barcelona, has increased its capital by almost €100,000 in 2020. On this occasion it has obtained €65,000in a pre-seed round. Juan Manuel Ríos, the company’s CEO, commented: “We closed this pre-seed round much faster than we had planned. We are fortunate to have investors who believe in the vision of the project and bring a perspective that contributes greatly to our development”.
TheVentureCity: the investment and acceleration model that helps diverse entrepreneurs to achieve a global impact, continues its pace of investment and has bet on 11 startups for its Growth Program in this first half of 2020. The startups Squadra (Productivity), Uniwhere (EdTech), AdLaunch (Advertising) WeFish (Sportech), FixMe (Wellness) and Fuell (FinTech) entered during the coronavirus crisis, joining the startups that entered the program in January and February: Explorest (TravelTech), Tusdatos.co (Security), LessonBee (EdTech), Airning (TravelTech) and Bitphy (AIRetail). In total they have invested €1 million.