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Bnext raised €11m. News on Scytl, Cabify and much more.

August 3, 2020 • Issue #228

BOOH!, startup que está reinventando el sector de las dark kitchens, ha alcanzado ya más del 50% de su segunda ronda de financiación, con un objetivo de €1 millón, en parte gracias a la llegada de un nuevo inversor, Andreas Mihalovits, que se suma al follow on de INNVENTUUR.

El objetivo para esta segunda ronda de BOOH! es el de la expansión nacional con la apertura de nuevos centros urbanos totalmente dedicados al food delivery. En el panorama actual BOOH! representa la única alternativa independiente, multi-marca y multi-plataforma de dark kitchens, gracias a sus centros urbanos con espacios de alquiler y todas las herramientas para que restaurantes, cadenas y grupos de restauración puedan entrar en el sector del food delivery a través de una formula All in One.

Para más información sobre BOOH! y la actual oportunidad de inversión, visita su página web.

Startup funding news 💸

  • Valencia is living a sweet moment in terms of startup activity. According to this article in Valencia Plaza, local startups raised a combined €35 million in the first six months of 2020, up 150% compared to the previous year
  • Madrid-based fintech startup Bnext raised €11 million from its current investors. The company says it has 400,000 customers
  • Barcelona-based Shopery raised €1.25 million from Antai, GoHub Ventures, K Fund and Andreas Mihalovits
  • Madrid-based ecommerce We Are Knitters raised €800,000 from Bewater Funds
  • Barcelona-based insurtech startup Coverfy raised €500,000 from CDTI, Seaya and K Fund
  • Other rounds of funding: Onyze, Ossby, Doppli Connect
  • Startups looking for funding: Roadstr, BOOH!

M&A activity 🎊

  • French company Click&Boat acquired Barcelona-based startup Nautal. Terms of the deal were not disclosed
  • Kerv is a next-generation ‘customer-first, cloud-first’ managed services provider. The company is born as a result of the merger of three other companies. I'm highlighting Kerv in the newsletter because it has offices in London and Vigo
  • Spanish regulator CNMV approved the suggested acquisition share price of MasMovil. Following the offer by KKR, Providence and Cinven, other funds and potential acquirers claimed the deal was too expensive, but the CNMV has sided with MasMovil

Investor & accelerator news 🚀

  • Nico Goulet of Adara wrote about about their decision to invest in Madrid-based ScaleFast and the company's recent $22 million Series B
  • Ramon Blanco of Bewater Funds talked about their investment strategy and their view on the startup market
  • Startup Oasis interviewed Veronica Trapa, Managing Director of Swanlaab

Startup news 💡

  • Carme Artigas, Secretary of Digitalisation and AI, said in a tweet that the goverment plans to re-launch the so-called 'Ley de Startups'. No additional details were provided
  • La Informacion wrote an update on Cabify. The company is apparently looking to sell several of its 'non strategic assets' to generate €22 million in cash to fund the next few months of operations. Part of that cash could come from selling its stake in Glovo. The article says that Spain represents more than 40% of Cabify's business, thus the hard recent times due to covid
  • In a different article, Cabify discussed the performance of taxi services within its app. A year ago, Cabify decided to also offer traditional taxi rides to its users
  • Unfortunately, things are not looking great for Scytl. La Vanguardia says that the company's creditors (Santander, BBVA and Sabadell) have rejected the acquisition offer from Grupo Paragon, which could mean that the company has to eventually shut down
  • Here's a profile of Diego Ballesteros and Bewe, the beauty and fitness services-focused SaaS startup. In the article, Diego talks about the impact of covid, how they've adapted their sales strategy to the situation and their expansion plans. The company has 80 employees, 2,500 clients and expects to reach revenues of €2.5 million this year
  • Bilbao-based Sherpa, builders of the AI assistant, were in the news last week. In an article in Cinco Dias its CEO claimed that it can compete with Google's assistant
  • Genbeta profiled GitDuck, a Spanish startup that's built a video call tool built for developers that enables them to talk, share their code and do pair programming
  • RevenueCat, the SF-based startup co-founded by Spaniard Miguel Carranza, published an interesting article about one of their most recent features: price testing for subscription apps
  • Mailtrack announced the launch of Campaigns, a product that turns Gmail into a mass emailing tool for up to 200 contacts
  • Business Insider interviewed Antonio Botas, CEO of fintech company Finect. The company recently launched a new product that aggregates and compares more than 30,000 investment products
  • Spanish startup CheKin announced a partnership with Airbnb to provide remote check-in services to its customers
  • Startup profiles: Nannyfy

Big company news 🏦

  • It's earnings season and Telefonica published theirs last week. The company saw profit and revenues drop by 50% and 14%, respectively, as a consequence of covid-19. The company also announced plans to lay fiber through most of Spain in the next five years
  • Google announced plans to build a new undersea network cable connecting the US, UK and Spain
  • Real Madrid announced plans to invest up to €9 million in startups through a partnership with FundingBox

Interesting reads 🤓

  • Alfonso Gutierrez, CEO of Visual MS, wrote a blog post about the history of the company
  • Miguel Carranza, co-founder of RevenueCat, published 'The privilege of free education'
  • Samuel Gil of JME published a blog post about 'Growth Loops'

Podcasts 🎧

  • Pero Entonces interviewed Bernardo Hernandez (Verse, Google, Yahoo, idealista)
  • Software Guru published an interview with Danny Prol about API-first companies
  • Itnig interviewed the founders of fintech startup Payflow
  • published a special episode about the no-code movement