VC galore. Inveready's impressive numbers. Seaya and Kibo launch new funds.
October 13, 2020 • Issue #237
Probablemente una de las preguntas más recurrentes que suelo recibir de fundadores y empresas es qué servicio utilizar para poder hacer el trabajo aburrido de reunir facturas, presentar impuestos y un largo etcétera de tareas. Si estás en esta tesitura, deberías probar Nomo.
Nomo, la herramienta de gestión “todo en uno” de facturación, control de gastos, financiación y gestoría para autónomos, abre ahora sus servicios también para PYMES.
En Nomo saben que el foco de la mayoría de startups y fundadores está en “hacer funcionar el negocio” y por eso quieren ser tu aliado para que ahorres tanto tiempo como dinero con un servicio fácil, intuitivo, 100% digital y multiplataforma (app y web ).
Si quieres probar el servicio sin compromiso ni permanencia, puedes hacerlo entrando directamente en la página web de Nomo. Además, si utilizas el código PYME, el primer mes es totalmente gratis.
Startup funding news 💸
- Madrid-based edtech startup Lingokids raised $10m from German puzzle giant Ravensburger. Lingokids has surpassed the €30m revenue mark this year. Spanish funds and previous investors JME and All Iron also participated in the round
- Barcelona-based Impress raised €5m from TA Ventures, Bynd VC and Sabadell VC
- Malaga-based AI startup Predictiva raised €2.4m from Swanlaab, CDTI and Banco Sabadell
- Barcelona-based Picker, an app that lets you discover and buy products recommended by people you follow, raised €1.3m in seed funding, led by German VC BtoV
- Barcelona-based real estate startup Kasaz raised €1.1m
- Barcelona-based AllRead raised €700k, led by GoHub Ventures
- Barcelona-based fashion company Tropicfeel raised €680k via Kickstarter
- Other startup rounds: Healthinn, EDIT.org, Motoreto
Investor & accelerator news 🚀
- Inveready has liquidated its first investment fund with some impressive numbers. The €15.5m fund was launched in 2009, invested in 35 companies and has returned 6.43X to its investors, that is, more than €100m. The fund's biggest success was MasMovil, which returned more than 50% of all proceeds. The firm says that it made money with 18 of the 35 companies it invested in. Kudos to Inveready!
- Seaya Ventures announced the launch of its third fund with an initial closing of €85m, and a target of €125m. The firm also announced that is working on a new investment vehicle that will focus solely on Latin American investments
- Kibo Ventures also unveiled last week its new (and third) fund with a target size of €100m. The firm is looking for opportunities in big data and AI, mobility and logistics, fintech, health and edtech and it will write cheques of €1m to €3m
- Bewater Funds disclosed its performance numbers to date. Gross IRR of 29.4%, net IRR of 25.7%, TVPI of 1.36X and DPI of 8.9%
- Expansion wrote a profile of SeedRocket, one of Spain's better startup accelerators, and its transition to a VC fund with SeedRocket 4Founders
- Expansion also profiled Yago Arbeloa, co-founder of Hello Media and a very active business angel in Spain
- Barcelona Tech City to open a new startup hub at Correo's old building, to be focused on logistics and mobility
Startup news 💡
- Sponsored
Spanish fintech company Nomo announced a new service for SMEs. If you hate dealing with invoices, taxes and other financial matters, you should check them out. If you use the promo code PYME, you'll get one month free - Ecommerce company Tradeinn continues to see tailwinds from covid-19 with sales growth of 40% in September. Its running and biking verticals showed the strongest growth, with uplifts of +70% and +140%, respectively. Tradeinn expects to reach sales of €250m in 2020
- Aena presented AenaMaps, an indoor mapping solution for Spanish airports that's a result of the collaboration of Aena and Telefonica with Spanish startups CARTO and Situm
- TechCrunch wrote a profile of Heura, a vegan-friendly alternative to chicken that’s been cooked up by a Barcelona-based startup. The company has recently launched its first products in the UK. The company says says it’s seen growth of 460% in the last year, and claims to be the fastest growing 100% plant-based meat company in Europe
- Cinco Dias published some numbers about Wallapop: €16.5m in revenues in 2019, loss of €6.3m, 150 employees and other figures you can find here
- Xataka talked to Loly Garrido of Gudog and Alfredo Solano of Cool Tabs about the decision to leave their offices and move to full remote
- Business Insider (BI) profiled foodtech startup foodStories. The company offers a meal planning service to customers and ships ingredients and recipes on a recurrent basis. Interestingly, the company also picks up the containers it sends to customers from their houses
- BI also published a profile of Velca, a Madrid-based startup that sells electric motorbikes. The company is co-founded by several former employees of escooter giant Voi and sells bikes starting at €2,400
- More hardware startup profiles. This time is BCN3D, the Barcelona-based maker of 3D printers. The company says it currently has more than 100 employees, clients in 40 countries and sales of €4.1m in 2019. BCN3D sells various models of printers that cater to different audiences, from industrial players to individuals
- Wallbox unveiled Supernova last week, an electric vehicle charger that claims to offer 100 kms of autonomy in just 15 minutes of charge. The company says that it expects to invest €5m million and hire 70 people just to work on Supernova alone
- El Pais visited various parking spots in Madrid of VTC cars and claims that a significant portion of these are not in use right now, as companies such as Uber or Cabify see less demand from consumers
- Submer was awarded the first prize at South Summit's startup competition
Big company news 🏦
- Car2go, the urban car sharing division owned by Daimler, tripled its loss in 2019 compared to 2018. Despite growing its sales by 52% to €7.65m, its losses grew by 3X to €6.1m. The article also says that the Spanish division received a €9.5m cash injection from its parent company
- Nobody knows exactly how many people subscribe to Netflix in Spain. However, according to both Telefonica and Atresmedia, Netflix would have a greater than 50% share in the Spanish VOD market
- According to a report from PwC, MasMovil would grow at a CAGR of 5% in the next five years, a significant drop compared to the double figures growth it has shown in recent years. PwC expects this to be caused by price wars in the telco sector
- Indra could be looking to do significant layoffs as a result of lower activity following covid-19. I was surprised to learn that Indra employs more than 39,000 people around the world
Interesting reads 🤓
- Xavier Ruiz, CEO of Barcelona-based startup SmartMonkey, published a post explaining how they approach product development
- Simon Muñoz, Platform Product Manager at Voicemod, published a post called 'Maslow's Hammer'. In the article he writes about looking beyond your own or main expertise to solve certain problems, using a hiring and interview process at Flywire as an example
- Samuel Gil (JME), wrote about coaching and mentorship in 'more questions and fewer advice'
- David Bonilla (Manfred), wrote about leadership in 'Memento Mori'
- Paloma Castellano of Wayra wrote about what she believes successful startups have in common
- How a bunch of hackers managed to access the Spanish energy system and other critical infrastructure
Podcasts 🎧
- Rankia interviewed Andres Torrubia to talk about AI and Andres professional trajectory
- MasBased interviewed Brad van Leeuwen, co-founder of London-based Cledara. Cledara is also co-founded by Spaniard Cristina Vila and has employees in Barcelona
- Itnig interviewed Alex Bisbe, CEO of B2B SaaS startup Whisbi
- MasQueStartups interviewed Jimena Catalina, to talk about how to build successful side projects, such as SlidesCarnival
- En.digital interviewed Oriol Garcia of adidas Runtastic, to talk about product management
- K Fund interviewed Jorge Barroso, co-founder of coding development studio Karumi