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Glovo raised $169m, acquired a Peruvian startup and shut down in Chile and Egypt. Cabify looking to raise pre-IPO round.

July 7, 2019 • Issue #162

360 Talent es la primera consultora de RRHH de España, que desde el año 2013, cuenta con una división especializada en startups. Son expertos en procesos de selección en el área IT (fullstack, back-end, front-end, mobile, DevOps…), online marketing, operaciones, ventas, logística, finanzas, así como todas las posiciones C-Level. Su objetivo es seguir creciendo con tu empresa! ¿Quieres hablar con ellos? Ponte en contacto en el 635 460 730.

Startup funding news 💸

  • According to Bloomberg, Cabify is said to work on pre-IPO funding round of between €100 and €300 million
  • On-demand delivery app Glovo raised $169 million (€150m) in Series D funding. Lakestar led the round alongside Drake, owner of global pizza franchise Papa John’s
  • Barcelona-based Holded, the ‘business operating system’ for SMEs, raised €6 million in Series A funding led by Lakestar
  • Madrid-based Playtomic raised €6 million from Optimizer Invest, GP Bullhound, Félix Ruiz and Magnus Gottas
  • Madrid-based insurtech and visual intelligence startup Bdeo raised €1 million in funding from K Fund and Big Sur Ventures
  • According to La Informacion, Valencia-based aerospace company PLD Space could be looking to raise €30 million
  • El Referente published its 2019 120-page report about the Spanish startup investment landscape

Startup exits 🎊

  • La Informacion talked to a few members of the Spanish tech ecosystem about the lack of IPOs from Spanish startups
  • I wrote this on K Fund’s blog: ’Tech exits in Spain in the 2017 and 2018 period: more and bigger but huge outliers are still hard to find
  • Glovo not only raised a big round of funding, but also disclosed the acquisition of Peruvian startup

Investor & accelerator news 🚀

  • Startup ‘decceleration’ program Decelera (formerley known as Menorca Millennials) raised €1 million from various investors

Startup news 💡

  • More news about Glovo last week: as the company turns it focus on Peru in Latam, it also announced that it would cease operations in Chile “behind financial hardships” and also would shut down in Egypt, “leaving over 40 employees and 3,000 delivery partners without work”
  • Forbes wrote about using Artificial Intelligence to customize media content without bias, featuring Barcelona-based AI startup Vilynx
  • Pedro Torrecillas of Circular wrote the startup’s launch of a recruiter and hiring manager profile
  • German neobank N26 to launch savings accounts in Spain, as well as financing for consumers
  • Roboadvisor Indexa Capital launched a new low-cost investment vehicle
  • Loopas, the contact lense subscription service out of Neboola, launched in Latam
  • Startup profiles:
  • Forensic & Security: cyber security
  • Trcucksters: transportation marketplace for trucks
  • Woonivers: VAT refund platform for travelers

Big company news 🏦

  • Banco Sabadell to become the first Spanish bank to integreate with AmazonPay
  • BBVA had an option to acquire 100% of the shares of UK neobank Atom. The option expired in April of this year

Interesting reads 🤓

  • Xataka talked to a bunch of Spanish developers about how they avoid being left behind in terms of their programming skills and how they continue to learn. The article features Txema Rodríguez (Jobandtalent), Javi Santana (Tinybird) and Chema Ballarin (Cisco, Dropbox) among others
  • El Referente published a ranking of some of the most active startup law firms and lawyers
  • Javi Santana (former CTO of Carto, now at Tinybird): ’Some advice to design an API

Podcasts of the week 🎧