Dealflow.es #441: Impress raised €110M. MioGroup and Viko financials.
Dealflow.es #441: Impress raised €110M. MioGroup and Viko financials.A weekly summary of everything that happened in the Spanish startup and tech investing ecosystem.This week’s newsletter is sponsored by Felix Lopez’s “Engineering Manager Academy”:
Startup funding news 💸Barcelona-based fintech SeQura has secured €410M through a combination of debt and equity financing from Citi, M&G, Chenavari, and Svea Bank. Barcelona-based orthodontic technology company Impress has raised €110M in a funding round backed by investors including Trinity Capital Inc., CareCapital, LBO France, and TA Ventures. The funds will support the opening of over 20 flagship clinics by 2025 and strengthen its position in the European market Vigo-based fintech Marosa has secured €12M from Aquiline Capital Partners to accelerate its growth and expand its VAT compliance and e-invoicing offerings. Founded in 2017, Marosa serves over 1,200 clients across Europe with its cloud-based software, VATify Mallorca-based biopharmaceutical company Laminar Pharma has raised €5.9M, led by Alicante-based family offices and OK Venture. The funds will support the development of Lam561, an oral drug targeting glioblastoma, a highly aggressive brain tumor Barcelona-based biotech company Biorce has raised €3.5M to advance the development of its AI model, Jarvis, which aims to streamline data accessibility in clinical trials. The funding round was led by YZR Capital and Mustard Seed Maze Recruitment technology startup Viterbit is preparing a funding round of €6-8M in early 2025 to accelerate its international growth M&A transasctions 🎉Spanish renewable energy group Maspv Energy plans to go public on the Nasdaq, aiming to raise up to $250M (€230M) through the sale of 10-20% of its Chinese subsidiary. This move supports Maspv’s growth in China, now its key market, where it operates as an independent power producer (IPP) Spanish fintech group Orbyn, owner of Fellow Funders, has acquired Dozen Investments, a Barcelona-based investment platform previously known as The Crowd Angel, following approval from Spain's CNMV Italian group Maggioli has acquired a 51% stake in Spanish tech startup Wardem, a digital growth agency specializing in advanced analytics, AI, and marketing. The remaining 49% remains with its founders. More info here Investor & accelerator news 🚀Portuguese VC firm Bynd has launched its third fund, valued at €40M, to invest in pre-seed and seed-stage tech startups in Spain and Portugal. Investors include Fond-ICO and others The European Investment Fund (EIF) has invested €28M in deeptech fund Bullnet Capital IV. With this investment, the fund now exceeds €80M and plans to invest in 17-18 innovative tech companies, including spin-offs from Spanish universities and research centers Five Spanish, early-stage deep tech companies have made it into the SynergistEIC project, funded by the EU: Cedrion, Greendur, Microfy Systems, Planetai Space and Sens Solutions Spanish investors active abroad:
Startup news 💡Startup and product launches:
Digital marketing holding Viko forecasts €22M in revenue and €3.4M EBITDA for 2024. To reach those objectives, the company plans to do more acquisitions in 2025 after purchasing IDE360, a pharma-focused marketing firm Interview with the founders of travel tech company Mogu, Héctor García and Alberto Asuero. The company offers a SaaS platform for organizing and selling group trips and currently has €631k in ARR Belvo, a leading open finance platform in Latin America, said that it has processed over 2 million direct debit payments in Mexico since launching this service in January 2024 Nextail, a retail technology company, has appointed Carlos Miragall as its new CEO Tequila Works, the Madrid-based developer known for games like Rime, has filed for insolvency due to prolonged market challenges. In 2022, it secured investment from Tencent, and though it laid off a number of staff last month, the cuts were seemingly not enough to keep the studio afloat La Informacion published an article about Spanish bootstrapped companies that have exited, highlighting Besoccer, Milanuncios, Freepik, Magnific and others Startup and entrepreneur profiles:
Two lists:
Big company & policy news 🤓Barcelona-based Openchip, a joint venture between GTD and the Barcelona Supercomputing Center, aims to produce its first microprocessor prototype by 2026 as part of efforts to boost Europe’s digital sovereignty. Backed by €111M from Next Generation EU funds and a €96M bank guarantee, the company is expanding its team to 200 employees by 2025. The chips, targeting fields like AI, genomics, and energy, will be manufactured in Europe or Taiwan ACS plans to establish a new division dedicated to data centers, aiming to become a global leader in the sector VisionLab has launched AI-driven Kümer lenses, personalized using data from over 70,000 customers to optimize vision based on individual habits and needs Mango has launched Mango StartUp Studio, an accelerator to help startups scale and innovate in the fashion industry Telefónica's Venezuelan subsidiary will pay an $85M fine in the US for bribing Venezuelan officials to secure favorable currency exchange rates in 2014. The scheme involved inflated equipment purchases, enabling access to over $110M in US dollars Interesting reads 🤓EsTech, the platform launched by Adigital, and Deloitte published a report called “El Ecosistema scaleup en España 2024” (available here). Spanish scaleups have generated €9.77B in economic impact and employ 65,000 professionals. The report emphasizes the strategic importance of these companies for Spain’s economic transformation IE Business School and Esade have ranked 4th and 7th globally in the 2025 Poets & Quants list of top business schools for entrepreneurs Ignacio Arriaga published “Incentivos: cuando los bonus los carga el diablo“ Jose del Barrio and Carmen Sanchez (Samaipata) published “AI is shaking up the software market, for the better“ |
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