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Wallbox raised €12m. Kustomer acquired Lanzadera announces major evolution.

May 18, 2020 • Issue #217

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Startup funding news 💸

  • Barcelona-based energy startup Wallbox announced €12m in new funding, led by Seaya Ventures, Iberdrola and Endeavor Catalyst. This brings the company's Series A round to €23m. Wallbox has developed car electric chargers that are bi-directional, able to send excess power from a battery to a residential circuit, making the company particularly attractive to utilities
  • Barcelona-based Cubiq Foods gets €5m to bring sustainable replacement fats to market
  • Madrid-based SaaS invoicing startup Anfix raised €4m
  • Valencia-based Saleslayer raised €3.5m, led by Portuguese investor Sonae IM. Swanlaab Venture Factory and GoHub Ventures also participated in the deal
  • Madrid and Berlin-based HR startup Kenjo raised €1.7m from the founders of Wefox and N26
  • Madrid-based fintech startup Ninety Nine disclosed investments by Breega Capital, Ethos Capital and Two Culture Capital

M&A activity 🎊

  • US company Kustomer announced the acquisition of Madrid-based to enhance chatbots on its CRM platform. Terms of the deal were not disclosed. had raised funding from JME VC and All Iron, among others

Investor & accelerator news 🚀

  • Valencia-based Lanzadera disclosed its strategy for the next few years. Besides a significant increase in its budget, which now stands at at least €10m per year, the startup incubator and accelerator also announced new programs for pre-seed to more established companies
  • Pan-European VC firm Target Global announced a €1M ‘super seed’ program aimed at tech talent that has been laid off in Spain during COVID-19. Various founders of Spanish startups also participate in the program as investors
  • Mario Brassesco of Encomenda published a document with basic metrics and KPIs for startups
  • El Pais interviewed Javier Megias, Startup Program Director at Bankinter, about the bank's venture arm and startup investing activity

Startup news 💡

  • Online voting company Scytl, one of Spain's most well funded startups, is considering going into liquidation or selling parts of its business to a US hedge fund called Sandton. La Informacion published an overview of the company's history and how it got to this point. A very unfortunate ending to an entrepreneurial story that started way back in 2000
  • Flywire, the payments unicorn with headquarters in Boston and Valencia, announced plans to lay off 12% of its staff and move another 3% of its staff to part-time positions through the end of the year. The reports didn't mention how much Flywire's Valencia office will be affected by this, which houses the company's technical and product departments
  • Food startup Wetaca announced that its business has increased by 50% since the covid-19 crisis started, as people look for alternatives to home cooking
  • The Power MBA launched its educational programs in the US, Canada, Germany, Israel and the UK. The company says that it currently has 30,000 students and plans to reach 120,000 by the end of this year
  • Glovo said that sales of small stores through its platform have increased by 90% in the past few weeks
  • HR startup Nailted published an interesting report about tech culture in Spain with some interesting data to attract and retain talent
  • Javier Escribano interviewed Ana Asuero, Aplazame CPO, on how to do product when there are limitations you can't control
  • Genbeta profiled Madrid-based crypto trading platform Atani, co-founded by brothers Paul (CEO) and Haydée Barroso (COO)
  • Startup profiles: eEvidence

Big company news 🏦

  • There's no doubt that the travel sector is the most affected one in the current crisis. Cinco Dias talked to Meliá about their plans for a reopening and how they plan to use technology to help them with the process
  • Uber says that the announced layoffs will affect Spanish workers, but it hasn't been determined yet how much

Interesting reads 🤓

  • talked to various Spanish founders and tech executives about their view on the market and its development in the next few quarters. Expansion published a similar interview with Diego Ballesteros of BEWE, so did El Español with Jesus Encinar of idealista
  • Samuel Gil of JME wrote 'From pre-seed to Series A'
  • Txema Rodríguez, Android Lead at Jobandtalent, wrote about how to perform internal developer surveys at companies

Podcasts 🎧

  • Diego Arroyo talked about the story of laagam and direct-to-consumer startups
  • Luis Ruano of Ricari talked about typical founder mistakes when reaching out to investors
  • Bernat Farrero of itnig talked about itnig, Factorial and many of his other endeavours
  • Antonio Tomas, CEO of Minderest, talked about the pricing industry and building a bootstrapped SaaS business out of Murcia
  • Jordi Ber, former co-founder of Habitissimo, talked about his professional experience and the growth and exit of his company