Dealflow.es #460: Sateliot raised €70M. Kibo's new fund. Spaniards in YC.
Dealflow.es #460: Sateliot raised €70M. Kibo's new fund. Spaniards in YC.A weekly summary of everything that happened in the Spanish startup and tech investing ecosystem.
This week’s newsletter is sponsored by ballou:
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If you’re a startup or VC looking to make waves, Ballou is your PR powerhouse. If you want an intro with the team, let me know and I’ll put you in touch. Startup funding news 💸Sateliot, the Barcelona-based satellite startup focused on IoT connectivity, raised €70M to accelerate the deployment of its 5G-IoT constellation. The funding includes €36M from the Spanish government’s PERTE program and €34M in private investment. Sateliot aims to create a “Spanish Starlink for IoT,” enabling direct device-to-satellite connections for sectors like agriculture and logistics Neobank MyInvestor, backed by Andbank, El Corte Inglés and AXA, raised €30M through AT1 bonds. The move strengthens its capital base as it continues growing deposit volumes, now over €3.5B. With €6.5M net profit in 2024. More info here Deudafix, Madrid-based startup specialized in debt mediation under Spain’s Second Chance Law, secured €25M in funding from BBVA Spark Gaiarooms, the Salamanca-based digital hospitality chain, closed a €10M+ funding round led by Bonsai Partners. The company plans to manage 4,000 rooms by 2028 and expand across Spanish and international cities Rounds less than €500k:
M&A 🎉Ebury Partners, the cross-border payments fintech, is reconsidering its planned IPO in London due to market volatility. Backed by Banco Santander, the company had targeted a £2.5B (€3B) valuation, but may postpone the listing originally expected for May–June US-based Buxton acquired Audiense, the Spanish consumer intelligence startup known for its social data insights, to expand its global analytics and segmentation capabilities. More here from Audiense co-founder Alfredo Artiles US startup Nash acquired Kosmo, a Spanish last-mile delivery platform. The move boosts Nash’s logistics and courier network across Europe and Latin America. Founder JJ Velaz wrote about it here. Kosmo was a Kfund portfolio co. Teknei, the Bilbao-based IT firm originally founded in Mexico, plans to continue its M&A strategy in 2025 with a focus on the U.S. market, particularly in cybersecurity, cloud, and AI. After entering the U.S. last year by acquiring Florida-based Key Technical, it has now integrated Madrid’s CTI Soluciones, which handles 15% of Spain’s payment traffic. Teknei aims to reach €150M in revenue this year Investor & accelerator news 🚀Kibo Ventures launched a new deeptech-focused VC fund aimed at Spanish software startups working on AI, robotics, cybersecurity, and advanced engineering. Target size of the fund is €150M. The fund will primarily target late-seed and Series A rounds with initial investments of €2M–€8M and reserves 50% of its capital for follow-ons UK firm Oakley Capital closed Fund VI at €4.5B, its largest to date. The fund will invest in European founder-led companies valued between €100M–€1B. Spain remains a strategic market, where Oakley has backed firms like Idealista, Seedtag, and vLex CriteriaCaixa appointed Jordi Ros as the new CEO of Caixa Capital Risc Spanish investors active abroad:
Startup news 💡New startups, products and personnel news:
Startup financials:
Startup profiles and market overviews:
Other news:
Foreign startups active in Spain:
Big company & policy news 🤓This is terrible. LaLiga and major Spanish telecoms have won a final court ruling against Cloudflare, requiring the CDN provider to block access to illegal football streaming sites eDreams ODIGEO shares fell over 10% after its main investor, Permira, sold 4.6M shares—about 4.1% of the company—for €29.5M Interesting reads 🤓Endeavor published “Founder Pathways in Spain”, a study analyzing the backgrounds of the founders behind Spain’s 100 largest startups. Key findings: 94% have university degrees, 60% studied at public universities, and 44% are serial entrepreneurs. The trend shows a shift from consultants to engineers, and growing international experience before launching ventures Interesting tweet from Javi Lopez (Magnific, Freepik): “La nueva release de ChatGPT es un pasito más en la dirección que llevo un par de años "evangelizando": la idea de que nos encaminamos hacia un mundo en el que podremos crear cualquier cosa utilizando mero lenguaje natural y gestos. CUALQUIER cosa” Rafael Casuso, CEO of CalliopeStartup, published “La inevitable caída del Ingeniero de Software” Manfred, inspired by a thread from Xoel Lopez (TheirStack), published “Qué preguntas debes hacer en una entrevista” Long interview with Cristina Carrascosa, CEO of legal boutique ATH21. She says Spain is well-positioned in crypto thanks to MiCa and the CNMV’s proactive stance. She views bitcoin as a form of digital civil disobedience and a hedge against inflation, but not as anti-state Javi Santana, co-founder of Tinybird, shared on Twitter how he spun off 15% of the team into a small, autonomous unit—completely separate from the main product org—and focused entirely on it himself. The goal: move fast, make bold decisions without endless debate, and prioritize team chemistry over perfect ideas. In just 3 months, they shipped a new product iteration. While it created some internal “chaos,” he sees it as necessary to avoid corporate stagnation Thanks for reading Dealflow.es Newsletter! Subscribe for free to receive new posts and support my work.
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