Dealflow.es #479: a16z invests in Supersonik. Seaya invests €30M in Adsmurai. Wallapop's lawsuit.
Dealflow.es #479: a16z invests in Supersonik. Seaya invests €30M in Adsmurai. Wallapop's lawsuit.A weekly summary of everything that happened in the Spanish startup and tech investing ecosystem.
Dealflow.es aims to be the best way to keep up with Spain’s startup ecosystem. Dealflow is a side project. I spend the vast majority of my time investing in early stage startups as part of Kfund. We make investments of €100k to €10m. If you want to chat, drop me an email at jaime@kfund.vc This week’s newsletter is sponsored by Crescenta:
Startup funding news 💸Seaya invested up to €30M in Adsmurai, valuing the Barcelona-based digital marketing scaleup at €100M. Seaya joins as a minority shareholder while founders remain in control. Adsmurai reached €100M revenue in 2024 and expects €140M in 2025. More info here Supersonik, a Barcelona-based AI startup, launched from stealth with a $5M seed round led by Andreessen Horowitz. Founded in 2025 by Daniel Carmona, Joaquim Lechà (ex-CEO of Typeform), and Pol Ruiz, the company is building an autonomous multilingual AI agent that joins live video calls to deliver real-time, personalized product demos Bloom, a startup from YC’s Summer ‘25 batch co-founded by Spaniard David Oort, raised $3.4M to simplify mobile app creation. Its platform lets users build full-stack apps by voice and share them instantly via link, avoiding the usual XCode and App Store hurdles. The round was led by Moonfire with participation from YC, Pioneer Fund, and operators PropHero secured €2.5M in financing from BBVA Spark to support its expansion in the Spanish market Rauda, a Madrid-based AI startup, raised €2.4M to advance its voice-native AI agents for customer support. The round was led by JME Ventures with Bonsai Partners joining Depet, a Spanish pet funeral services startup, raised €2.2M in equity plus a €2.2M convertible loan to expand its network of animal crematoriums to 12 centers by the end of 2025. Depet already operates 9 centers across 13 regions, making it Spain’s largest player in the sector MySphera, a Valencia-based healthtech, saw the EIC Fund take a 17.2% stake through a capital increase to fuel international growth and new AI-driven hospital efficiency tools. MySphera posts >€3M revenue with 30+ staff M&A 🎉Minority investors of Wallapop, including fund 14W, filed a lawsuit in Barcelona against the board’s approval of its €600M sale to Korea’s Naver. They argue the deal undervalues the company versus its €806M valuation in early 2024, when ICO also joined the cap table, and accuse the board of favoring Naver (29% shareholder) over minorities KrakenD, a Barcelona-based API Gateway startup, was acquired by UK-based Shop Circle, a B2B software provider powered by AI. Founded in 2021, KrakenD generated €2.3M in revenue in 2024 (+76% YoY) and expects €3.3M in 2025. Despite a 7-person team, it serves 40k+ companies—including Universal, US Navy, and AMC Networks—with 65% of clients in the US On the Onum acquisition by CrowdStrike announced last week, Aquilino Peña of Kibo published “Celebrating Onum’s rapid and remarkable exit to CrowdStrike” Investor & accelerator news 🚀Sponsored bullet point 👉🏼 Cinco Dias published “El capital riesgo para minoristas se consolida en España y levanta 500 millones en dos años”, featuring Crescenta, which is leading the push to democratize private equity in Spain, raising €138M in two years and attracting 2,900 mostly retail investors Gradiant, the Vigo-based deep tech center, launched TRL13, a new investment fund focused on strategic technologies such as AI, quantum, photonics, communications and cybersecurity JME Ventures shared an update on its activity through Fund IV, launched in 2024. The Madrid-based VC backed several new startups in 2025, including Pensero (AI-powered performance reviews for engineering teams), 8Layers (cloud identity threat detection) and Altan (collective AGI platform) Spanish investors active abroad:
Startup news 💡New startups and key product launchesElisenda Bou (previously of Vilynx, sold to Apple) unveiled her new company: Cala. Cala is an agent-ready knowledge platform that unifies your private data with verified external sources into a continuously updated linked knowledge graph GCO Ventures, the corporate venturing arm of Grupo Catalana Occidente, launched Musky, a startup offering pet insurance for dogs and cats 100 Vibe Coding launched on Product Hunt, the side project of Romulo Garcia and Miguel Piñán. The platform offers 100 coding challenges, a sandbox for instant sharing, and guided tutorials that lead to ready-to-use projects Startup financialsFintonic reached operating profitability this summer for the first time ever (it was founded in 2012). It now channels over €1M in daily loans through its marketplace of 50+ banks, and the company has refocused on three core areas: consumer loan aggregation, credit scoring tech, and personal savings tools Heura, Spain’s leading plant-based meat startup, closed 2024 with €25.3M in revenue but €7.7M in losses, reflecting both market slowdown and a strategic pivot Company profiles60días, the A Coruña-based company specialized in recovering VAT for businesses, grew revenues 10.6% in 2024 to €9.1M and boosted profit 17% to €3M. Managing ~80k tickets daily for over 3,000 clients, it helps firms reclaim up to €500 per employee in past VAT. Other newsInternxt, the Valencia-based privacy-focused cloud startup, enabled crypto payments and will build a bitcoin treasury, with custody by Bit2Me. Valued at €40M, Internxt reached €3.4M revenue in 2024 Delivery Hero reaffirmed its commitment to Glovo despite €450M in fines in Spain for breaching labor laws. The German parent acknowledged the sanctions and Glovo’s Social Security debt could threaten operations but said it remains financially solid, with €618M provisioned for contingencies Revolut is negotiating with Allfunds to distribute investment funds in Spain, aiming to boost client activity and revenues. The neobank already has 5M customers in Spain (60M worldwide) and €3B in deposits, capturing nearly 20% of new bank accounts opened in 2024 Big company & policy news 🤓ING launched its new tech hub in Madrid, the sixth worldwide, with plans to hire 1,000 professionals over the next four years. The hub will focus on software engineering, system architecture and data analysis Interesting reads 🤓Raquel Barbadillo said on X that she’ll be leaving Tinybird to join Mistral. To reflect on her 3 years at Tinybird she wrote this, which I highly recommend Expansion talked to Enrique Linares (Plus Partners), Iñaki Arrola (Kfund), Carlos Blanco (Encomenda), Felipe Navío (JobandTalent) and Yago Arbeloa (MioGroup) about founder conflict Ignacio Arriaga (Acumbamail) wrote “Zero click marketing: cómo sobrevivir en un mundo sin clicks” Thanks for reading Dealflow.es Newsletter! Subscribe for free to receive new posts and support my work.
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