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Plastic SCM acquired by Unity. RevenueCat raised $15m. Lana gets $12.5m.

August 24, 2020 • Issue #230

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Startup funding news 💸

  • Subscription management startup RevenueCat is not based in Spain but it has strong connections with the country. One of its co-founders is Miguel Carranza, out of Sevilla, and the company also has several employees here. In August RevenueCat announced a $15 million Series A round led by Index Ventures. Xataka talked to Miguel about the deal and evolution of the company
  • Basque company Voovio Technologies raised €15 million from Moira Capital
  • Madrid-based fintech startup Lana looks to be the next big thing in Latin American fintech. The company, which was born within Cabify, announced last week that it has raised $12.5 million from Base10, Cathay an other investors
  • Barcelona-based Rokunbun, developers of navigation technologies, raised €550,000 via The Crowd Angel
  • Barcelona-based health startup Methinks raised funding from Nina Capital
  • Madrid-based SimpleCloud raised funding from Conexo Ventures
  • Other rounds of funding: ProfesorCBD, Fuell

M&A activity 🎊

  • Big news out of Valladolid. Unity, developers of the famous rendering engine, announced the acquisition of Valladolid-based startup Codice and its main code versioning product, Plastic SCM, which will continue to exist and to be offered to existing and future developers and teams. Terms of the deal were not disclosed. Codice had raised funding from Bullnet Capital. Xataka has more info on the match between Unity and Plastic. About a year ago we interviewed Codice's CEO on the K Fund podKast, so feel free to listen to know more about the company

Investor & accelerator news 🚀

  • Nina Capital is a fairly new €18 million fund out of Barcelona co-founded by Italian Marta Gaia, who brings quite a lot of experience in the field of biotech after spending several years in Silicon Valley. Nina appeared in quite a few articles in the past few weeks, here and here, and I think it's great that there's such a health tech fund in Spain
  • Cinco Dias talked to Miguel Vicente (Antai Venture Builder) about his view on the market and investment opportunities he sees. He says that Antai plans to incubate six startups this year
  • I'm not sure if I understood this correctly, but it seems like the Junta de Andalucia is looking to launch a €9 million fund (in aggregate, minimum capital) to invest in startups with the help of an established VC firm
  • Jeff, Declarando and GrowPro to participate in Lanzadera's Scale Up program

Startup news 💡

  • El Mundo published an analysis of the Spanish startup ecosystem under the headline 'Is Spain the most startup-y country in the world?'. I don't like the title because the answer is an obvious 'no', but the article does include some interesting facts about the growth of Valencia, Malaga and Euskadi in recent years
  • I think this is a pretty poor headline from El Confidencial: 'Así han acabado los 'entrepreneurs' españoles siendo los nuevos funcionarios'. However, the article does include some interesting quotes from Eduardo Manchon (Mailtrack, Panoramio) and Ignacio Arriaga (Acumbamail) about entrepreneurship and the innovation climate in Spain
  • Miguel Arias, now at Wayra/Telefonica but previously COO of CARTO, wrote about the difficulties of finding and hiring a VP of Sales
  • CARTO announced that CARTO BigQuery Tiler is now available for Google Cloud Platform, which means that developers and data analysts have now the option to visualize large location datasets without having to move data outside BigQuery
  • US e-scooter company Bird is leaving the Spanish bike and motorbike market, where it operated under the Scoot brand, a company it acquired a few months ago. This also means that Scoot's 50 employees in Spain will be laid off. Business Insider published a list of 17 e-scooter companies that were once active in Spain but no longer are
  • Freepik had a security incident over the summer, exposing the email (and in some circumstances the password hash) of 8 million accounts. The company has more details about the attack here
  • Madrid-based Gudog announced that it's going full remote and explained why in a blog post
  • Startup profiles: Volava, Fuell, Peoople, PixelsHub

Big company news 🏦

  • Bizum continues to grow at a fast pace. The company surpassed the 10 million user mark and added 3.5 million new users in the past six months alone

Interesting reads 🤓

  • I found this post from Benedict Evans quite interesting. It looks at retail and ecommerce numbers in both the US and the UK pre-covid and post-covid. As suspected, ecommerce has increased substantially in the past few months and it seems like it could be here to stay, while retail sales (with the exception of groceries) are down across most categories. It'll be interesting to see how this evolves in the next few quarters. As for Spain, no reliable data is available and the CNMC only has data for 2019 yet...
  • Startup Valencia association published a blog post highlighting several facts that make Valencia an interesting destination for startups and founders

Podcasts 🎧

  • interviewed David Boronat of Multiplica and Antonio Lopez of SEM Rush