Awaiting keywords...

Facebook confirms PlayGiga’s acquisition. Glovo raises $166m and reaches unicorn status.

December 23, 2019 • Issue #196

I’ve put together a small survey to better understand who the subscribers of this newsletter are.

It will help me get direct feedback from you, the readers, and to also improve the newsletter going forward. Thank you for your time! 🙏🏼

Startup funding news 💸

  • Barcelona-based Glovo announced a $166 million Series E round led by Abu Dhabi state investment company, Mubadala
  • Madrid-based autonomous transportation startup Goggo Network raised $44 million in funding from SoftBank and Axel Springer Digital Ventures
  • Valencia-based IoT startup Witrac raised €3 million from Mundi Ventures and Goldacre Ventures
  • Madrid-based fintech startup Arbor closed a €3 million investment from FinRebel, The Tifin Group and Apex Capital Partners
  • Seville-based logistics platform Mox closed a €3 million round led by VAS Ventures
  • Madrid-based fintech startup Twinco raised €2.5 million
  • Barcelona-based neobank Bcn10 raised €1 million from various investors
  • Navarra-based startup TedCast raised €300,000 from various business angels
  • Madrid-based The Beemine Lab raised €280,000 via Startupxplore
  • Pre-seed investment platform tQuity raised €250,000 from PADEInvest and other investors
  • Madrid-based HR startup Nailted raised €170,000 from Big Sur Ventures and other investors
  • Wedding platform Zankyou raised an undisclosed round of funding
  • Barcelona-based Iomob received investment and partnered with B4Motion

M&A activity 🎊

  • Facebook confirmed the acquisition of Madrid-based cloud gaming startup PlayGiga. The size of the transaction was not officially disclosed. La Informacion wrote about the company's history
  • Investment banking firm Alantra announced the acquisition of three Spanish genetics companies to form a group with more than €25 million in annual revenues: Imegen, Genycell Biotech and Health in Code
  • Galician tech consulting firm Altia acquired Portuguese counterpart Noesis for €14 million
  • Galician biotech startup Mestrelab sold a majority stake to US-based Bruker. Mestrelab had revenues of more than €5 million last year

Investor & accelerator news 🚀

  • Bewater Funds announced an investment in real estate business Cink Coworking
  • ENISA completed 500 deals in 2019, combining for more than €80 million in loans

Startup news 💡

  • EU-Startups published a list of '10 Madrid-based startups to watch out for in 2020 and beyond'
  • An association called Startup Galicia put together a map of all of Galicia-based technology startups
  • According to La Informacion, BlaBlaCar's revenues in Spain have decreased to less than €1 million, its 2015 levels
  • According to El Confidencial, Circ and other e-scooter companies are having a hard time in the Spanish market, due to high levels of competition and local regulation
  • La Vanguardia says that Scytl has debt of more than €55 million and is looking for alternative financial sources or debt renegotiation to continue operating
  • Marc Caballe, CEO of Hubtype, published 'Building the contact center of the future'
  • Roboadvisor Indexa Capital increased its assets under management by 2.3 this year, up to €312 million
  • El Pais published a profile of Amuda Goueli, CEO and co-founder of travel startup Destinia
  • Public examination platform Opositatest claims to have increased its user base by 250% in 2019
  • Software development firm Marsbased published its 2019 review as well as its financials
  • Startup profiles: HessTec, Acqustic, Yuka

Big company news 🏦

  • Inditex reported a 12% jump in net profit to €2.7 billion in the first 9 months of the year, helped by a rollout of stock-tracking technology and flagship store openings
  • Telefonica announced the directors of its recently created division Telefonica Tech
  • MasMovil gained more clients than other Spanish telcos in 2019, with 1.4 million more clients

Tech and policy 💂🏼‍♂️

  • Euskadi's government wants to impose a 30 minute wait for VTC operators

Interesting reads 🤓

  • Xataka interviewed Jonathan Chacón, a blind programmer, about his work
  • Jesus Monleon of SeedRocket published 'Fiscal planning before an exit or dividends'
  • Caroline Lagergren (Expand to Spain) wrote 'The Spanish tech startup ecosystem, frequently asked questions'

Podcasts 🎧

  • El Economista published an interview with Alex Barredo of
  • K Fund interviewed Andrea Barber of RatedPower
  • Marketing4Ecommerce interviewed Alfonso Tomas, CEO of PcComponentes
  • Itnig interviewed David Riudor of Goin