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Glovo could be raising €450m. Aldea Ventures unveiled. PC Componentes €647m in sales.

March 29, 2021 • Issue #261

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Startup funding news 💸

  • According to Jesus Martinez of La Informacion, Glovo is in the final stages of raising €450m, which would be the largest round ever raised by a Spanish startup
  • Barcelona-based medtech startup Inbrain Neuroelectronics raised €14.3m from Asabys Partners and Alta Life Sciences
  • Valencia-based data analysis startup Kenmei Technologies raised $1.5m from MASVentures and Wayra
  • According to El Referente, Catalan biotech startups raised a combined €200m in 2020, more than twice the amount that was raised two years ago in the same sector and region
  • Other rounds of funding: Upwine, Livelia, Vermut

M&A activity 🎊

  • CMC acquired Oracle-focused consulting firm Avanttic
  • Nadia Calviño, head of the Spanish Ministry of Economy, wants to make some regulatory changes to increase the number of SPACs in Spain

Investor & accelerator news 🚀

  • Aldea Ventures is a new Barcelona-based ‘hybrid’ €100m fund to invest both in micro VCs. Aldea Ventures is led by managing partners Carlos Trenchs, formerly at Caixa Capital Risc; Alfonso Bassols, previously at Nauta Capital; Josep Duran, formerly with the European Investment Fund; and Gonzalo Rodés, chairman. Aldea has already invested in Nina Capital, based in Barcelona, and Rodrigo Martinez's helloworld fund
  • Nauta Capital participated in Connected2Fiber's $12m Series B round
  • Yisios Capital participated in an $80m round of US biotech firm Aura Biosciences
  • ENISA published a report on the economic and social impact of its investments between 2005 and 2016
  • Javier de Toro of Lanzadera published an analysis of 60 rounds associated to t accelerator and published its findings about the valuation of pre-seed, seed and late-seed companies
  • Expansion interviewed Carina Szpilka, head of Adigital and co-founder of K Fund, to talk about the digital future of Spain, regulation and other topics
  • El Español published an interview and profile of Iñaki Arrola, co-founder of K Fund and previously at I know Iñaki well, and this is a quite personal and good profile of his

Startup news 💡

  • PC Componentes disclosed its 2020 financials and they're quite impressive: €647m in sales (+60% year-on-year), 2.6m orders (+70% YoY), average order value of €250 and 200 sellers on its marketplace
  • Malaga-based Uptodown, the online platform that enables users to discover and download apps from any device, announced a partnership with Unity to distribute games developed using Unity's engine. Xataka also profiled the company here and Diario Sur interviewed its co-founders, Pepe Dominguez and Luis Hernandez
  • This is an old post, but I think it's a good one that I've never included before: 'How Jeff built a lead acquisition engine to conquer the world'
  • Boston and Madrid-based SIEM startup Devo continues to make senior hires across various departments: 'Fueled by sustained, strong momentum, cloud-native logging and security analytics leader adds industry veterans from Amazon, F5 Networks, SAP, LogMeIn and IBM Security'
  • El Español published a long profile of cybersecurity startup Kymatio, which provides a security solution to companies to manage employee-based risk
  • Austrian startup Bitpanda announced a new funding round of $170m and unicorn valuation, as well as the opening of offices in Madrid and Barcelona
  • Generalitat de Catalunya fined Cabify with €431k associated with the employment status of some of its drivers
  • Aplazame, the buy-now-pay-later Spanish company acquired by Wizink, managed €127m in financing in 2020
  • ITEA profiled Barcelona-based Clevernet, whose explicit mission is to make the internet better by providing a faster, more reliable and secure way to transfer data. Clevernet is a K Fund portfolio company
  • B2B Marketers interviewed Eva Cabanach, head of marketing at RatedPower, to talk about B2B marketing
  • Startup profiles: Capchase, CoverManager, Durcal, Suscrip, Rentchester, Rviewer

Big company news 🏦

  • La Informacion has details on Indra and layoffs that have affected more than 800 employees of the company
  • Amazon's legal battle on the topic of the employment status of its Flex drivers will have to wait until late 2022
  • BBVA did its pro-rata in Atom's last funding round, thus continuing to have a 39% stake in the UK neobank

Interesting reads 🤓

  • El Confidencial published a profile of Iker Marcaide, the founder of Flywire who now runs Zubi Labs. Zubi Labs focuses on launching and investing in social impact projects, starting with a Montessori school in Valencia and a whole neighborhood
  • Jorge Bodas of Dotricks published an interesting article about PLG (product-led growth)
  • Soluble Studio published an overview of the rebranding, design and product work they did for Dozen, previously known as The Crowd Angel
  • Business Insider talked to six Spanish podcasters that get the majority of their income from podcasts
  • Newsletter Views interviewed Rebeca Minguela, CEO of Clarity and previously of Blink, sold to Groupon
  • Caroline Lagergren of Expand to Spain published 'Capital efficiency, key factor for driving international investors to Spain?'

Podcasts 🎧

  • Marketing4Ecommerce interviewed David Baratech and Ruben Ferreiro, to talk about Yaba, a startup that buys, funds and gives support to the growth of business based on Amazon FBA
  • K Fund interviewed Kintxo Cortes, country manager of Shopify in Spain
  • Finanzia Connect interviewed Iker Marcaide of Zubi Labs
  • Itnig interviewed Miquel Antolin of Freshly Cosmetics
  • interviewed Ricardo Llamas
  • UpBizor published a podcast on the topic of Neotec (CDTI)