The month of September once again shows very positive figures in terms of investment and startups in Spain, as despite the pandemic that continues to plague our country, the accumulated investment in technology companies exceeds €100 million, specifically €155 million in 33 public operations.
With these data, we can say that cumulative investment in Spain at the end of the third quarter stood at €722 million (compared to €687 million in 2019 at the end of the same month) and that public operations by startups are growing, which will set a record for cumulative annual operations in 2020. With the end of September operations this year stand at 227 with three months left till the end year. In fact, 2019 ended with 205 public operations while 2017 had a record of 230 operations.
As for the most outstanding investment rounds, Devo (formerly Logtrust) closed a new round worth €50 million and has now accumulated an investment of €627 million. In addition, the appearance of a new startup on the Spanish scene, MotorK, stands out. It closed a round of €10 million led by Real Web and Illimity Bank. Also, worth mentioning are these three investment rounds (Series B). PLD Space announced the closing of a new financing round worth €7M led by Arcano Partners; the second startup that has closed a round, in this case worth €7.4 million, is Algenex. Below, we detail all the public operations in startups during September.
Devo Technology: the native data analysis and cloud security company, has closed a Series D funding round of €50.6 million. Founded as Logtrust in Spain in 2011, Devo is based in Cambridge (Massachusetts), with a research and development center in Madrid, and with different offices in the UK and in several cities in the United States.
MotorK: the technological marketing and sales company specialized in the automotive sector, has obtained €10 million. The funds come at an unprecedented time for the world economy, which is a sign of confidence for MotorK and its business vision in the digital automotive market.
Algenex: the biotechnology company has closed a financing round worth €7.4 million. The operation was led by MasterLux, an investor advised by Cleon Capital and Vita Advisory. This round has also meant the entry into the shareholding of Columbus Life Science Fund II; a fund led by the management company Columbus Venture Partners.
PLD Space: the Spanish company developing reusable space vehicles, has announced the closing of a new round worth €7 million. The operation was closed through Arcano Partners, the independent group of financial advisory and alternative asset management companies.
Carnovo: the new car comparison company Carnovo closed a financing round of €6.5 million. The operation was co-led by new partners such as the international venture capital fund Mountain Partners; the Italian venture capital funds Ithaca and R301 Capital; the super angel fund AngelGate; Sabadell Venture Capital; the business angel Andreas Mihalovits, and the PartnersInvestors platform. The current partners Antai Venture Builder, Atresmedia or Sorigué Group also supported the capital increase.
Streamloots: The Valencian entrepreneurs behind this startup raised €4.73 million with the aim of continuing to grow and attract professional talent to their company. They recently closed their first major round of financing (Series A) with Bessemer Venture Partners and leading Business Angels. Including: Tobi Lutke, Jeremy Stoppelman, Lazarte Brothers, Eric Baker and Li Jin.
BotXO: the chatbot startup announced that it obtained €4 million in funding from Seed Capital and The Danish Growth Fund. The main objective of the round is to strengthen the team and accelerate the growth and international expansion of the company.
Capchase: in the midst of a pandemic the startup raised a pre-seed round of €3.92 million. It was led by Caffeinated Capital, Bling Capital (Ben Ling), with seed investments in more than 10 unicorns. Also co-leading the SciFi VC round (Max Levchin’s fund, [co-founder of PayPal]) one of the best fintech VCs worldwide.
Nemuru: the startup raised a new financing round of €2.6 million with the participation of investors such as InnoCells and the Banco Sabadell corporate venturing vehicle. Other participants include Bankia Fintech Venture, the renewed commitment of Antai Venture Builder, Encomenda, Lánzame and the rest of their partners. International investors such as Plug and Play (US) and Scale Lab Andorra also participated.
APlanet: the technological platform that facilitates the management of organization sustainability, has closed a round of €1.7 million. The operation was led by the Alliron Ventures fund. It also included the participation of BStartup from Banco Sabadell, DraperB1, and business angels such as Iñigo Juantegui, Yago Arbeloa and Pablo Alonso.
Soccer: the company raised €1.5 million in its first round of investment, led by the venture capital firm Univen, which contributed 15% of the total amount. This economic injection consolidates the project of Humanox Soccer and its innovative product: smart and connected carbon fiber shin guards. They allow to measure the sport behavior and health of a soccer player.
Swipcar: the car rental marketplace in Spain has closed its third round of investment, achieving an injection of €1.5 million. The operation was led by Inveready and will allow, amidst the Covid-19 crisis, to reinforce key positions within the company’s team to continue developing the business and accelerate the commercial strategy and its international expansion.
Devengo: the company that has developed a real-time salary app has closed a new round of investment of €1.3 million. Devengo has already accumulated more than €2.5 million of capital, making it the best capitalized company in the sector. At the beginning of September, Devengo joined the Lanzadera acceleration program and has been selected as one of the three companies to participate in the ABANCA Innova program.
Assembler School: the company has achieved an investment of €1 million to consolidate itself as the reference school for programmers for technology companies in the Barcelona ecosystem.
inbestMe: the robo-advisor has closed a funding round of €1 million. The expansion has allowed the entry of new strategic partners such as Mutual Médica and also consolidates the relationship with GVC Gaesco. After closing the round, the total capital invested amounts to €2.87 million.
Dolnai Technology: the startup that helps large companies optimize the ROI of their advertising budgets and the productivity of their marketing teams, has raised its first round of investment to the value of €800,000. The operation included the Kairós group, GVC, Q Partners and important family offices and business angels such as Tom Horsey and Core Angels.
Ikan Biotech: the biotech company focused on the study of colon and lung cancer has closed a round of €750,000. Its innovative proposal consists of using zebrafish, an animal with which humans share 87% of their genome. The startup has closed a funding round that will allow it to promote its research work. The operation has taken place through the alternative investment platform Fellow Funders.
Velca: the electric scooter company has closed a capital increase of €750,000 through Crowdcube in four hours. This sets a new record for an equity crowdfunding operation in Spain. The operation was led by the business angel René de Jong and Tom Horsey and Hugo Arévalo also invested.
Atribus: the startup completed its first round of financing for a value of €500,000. Several banks, public entities such as the CDTi and the crowdlending platform Colectual participated in the operation, providing an approximate value of €350,000; the remaining €150,000 come from a contribution from the current partners.
Incapto Coffee: it only took seven hours to obtain the proposed €500,000 through the equity crowdfunding platform The Crowd Angel. In total 96 investors participated, in addition to the founding partners, who contributed €200,000, completing the round in a total of €700,000.
Deliberry: the online purchase startup obtained a new injection of capital, after closing an investment round worth €450,000 through the SociosInversores.com platform. Created by the Antai Venture Builder group, the company was supported by Venture Capital Archipelago Next and a family office in Latin America.
Oroi: the virtual reality startup that offers solutions for the welfare and stimulation of the elderly has achieved €400,000 in its first round of funding. This was led by Easo Ventures, Clave Capital as manager of the Mondragon Fund Promotion FCR and the cooperative management of residences GSR.
Berba: the Basque technology company that offers translation services driven by Artificial Intelligence, has closed a financing round worth €250,000. Private investors such as IeTeam Consultores, Urwa, Business Group and GukInvest, and business angels Lander Guibelalde, Unai Carmona, Ion Elosegui and Iñigo Bernal participated in the operation.
bnc10: the startup with headquarters in Barcelona and more than 45,000 customers, raised €300,000 in 24 hours in the financing round it just opened to give a new boost to the business. The operation is to be carried out through the Crowdcube platform and will remain open until October 14th.
Adtuo: the startup that manages and optimizes advertising campaigns on social networks through Artificial Intelligence, has closed a round of investment of €300,000. The operation opened through Startupxplore. The operation was completed with the participation of the venture capital funds Odemira Capital, Wannaseed and several business angels. This new capital increase is in addition to the €250,000 granted by the CDTI’s Neotec for the development of its algorithm.
Qoala: the company has recently raised €187,500 of investment through Startupxplore. 125% of the funding target of €150,000 was reached. Qoala bases its business model on a free browser extension. It detects the e-commerce website that the consumer enters and instantly finds all the coupons and offers available for that site.
Fancision: the platform aimed at improving participation and connection between fans and sports teams will receive €128,780 from Qatar SportsTech. Through gamification and other interactions, they enhance the relationship between both users, promoting the loyalty and monetization of the teams.
Rentger: the Spanish online rental management software has announced the closing of a seed round in which it obtained €120,000. Rafael Garrido, Jordi Bernal, and several members of SeedRocket, an accelerator that has been promoting the development of this proptech for some time, participated in the operation.