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Vitcord raises $2m. Badi in the midst of a big round. idealista finishes acquisition of TerceroB.

July 7, 2019 • Issue #140

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    Startup funding news 💸

    • According to La Informacion, Badi is in the middle of raising a new big round of funding. The company raised €8 million in February from Spark Capital and Mangrove Capital Partners
    • Valencia-based Vitcord raised $2 million from Sabadell Venture Capital and Gate 93 to scale up its story creation tool for video
    • Barcelona-based sensor manufacturer company Nanusens raised €1 million from Inveready and Crowdcube
    • Real estate startup Kasaz has raised €650,000 so far this year and is looking for €250,000 extra on equity crowdfunding platform The Crowd Angel
    • Bicycle marketplace startup Tuvalum raised €257,000 Startupxplore and Seedrocket4Founders
    • Indra acquired a minority take in fintech startup Finect

    Startup exits 🎊

    • Idealista increased its stake in data startup TerceroB in 2017 to 76%, thus becoming the major shareholder in the company. According to La Informacion, Idealista first invested €250,000 in TerceroB in 2015, and still has an option to buy the remaining stake in the company in the next two years for a total of €1.9 million

    Investor & accelerator news 🚀

    • K Fund published a list of 109 Venture Capital firms that have invested in Spanish startups
    • JME VC published a very interesting presentation on how stock options work and how startups should build their ESOP structures
    • Sonia Fernández of Kibo Ventures explained in an article why they’ve decided to invest in German e-scooter startup TIER
    • Red Capital Partners is a new fund that has the goal of only investing in Spanish startups founded by women, with a target size of €50 million. To my knowledge, this is the first fund of such characteristics to be launched in Spain

    Startup news 💡

    • Barcelona-based gaming studio SocialPoint (acquired by Take Two for €235 million a couple of years ago) is trying to lower its dependency on just two games by releasing a series of 10 mobile games in the next few months
    • Galician startup Opositatest won the most recent edition of Seedrocket Campus. The company has built a subscription platform for students looking to access a government job
    • El Confidencial put together an event with Holaluz, Glovo, Badi and Lingokids to focus on how these four startups are trying to cause an impact in their respective markets of energy, logistics, real estate and education
    • ValenciaPlaza published a short profile of Valencia-based PIM (product information management) startup SalesLayer
    • Kippel01 looked into the plans of Glovo to expand in Africa, where the company sees a big opportunity
    • El Referente published an interesting report on the Spanish ecosystem of energy startups

    Big company news 🏦

    • Japanese ecommerce giant Rakuten had to invest more than €19 million in this year to rescue the company from big losses, as competition from HBO and Netflix increases. was a Spanish startup founded in Barcelona and later acquired by Rakuten. Rakuten has invested more than €130 million since then in Wuaki
    • In the context of increasing pressure by large tech companies against a proposed special tax by the Spanish government, La Informacion reported that the Spanish subsidiaries of the big five (Apple, Amazon, Google, Microsoft and Facebook) sold €630 million worth of services to their respective offices in Ireland or Holland, in order to lower their tax bill

    Tech and policy 💂🏼

    • Brussels is looking into deals made between Amadaeus and various airlines to decide if they work against competition in the travel market

    Interesting reads 🤓

    • Interview with Bruno Bianchi, co-founder and COO of Spotahome: “Never stop trying to get everyone else excited about your business”
    • El País talked to Angel Cano, former CEO of BBVA, about his role as a business angel following his departure of BBVA with a bonus of €42 million

    Podcasts of the week 🎧

    • K Fund interviewed Marcos de la Cueva, co-founder and CEO of invoicing software startup Billin
    • Vostok6 interviewed Lara Smirnova, Laura Muñoz and Marta López de Cervantes to talk about the eSports industry
    • ran a especial episode with ecommerce companies Club de Malas Madres, Blue Banana Brand, Keatz and Morrison Shoes
    • Itnig interviewed Juan Margenat, COO and co-founder of Marfeel