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Asti bought for $190m. Nauta closes €190m fund. Wallbox earnings.

November 8, 2021 • Issue #292

¿Cerrando ronda? Compleméntala con ENISA, un préstamo sin avales.

Tras completar los fondos disponibles para este año, es el momento de preparar tu solicitud ENISA para 2022, ya que el orden de llegada cuenta.

En Lean Finance tenemos un 90% de aprobación en las solicitudes que gestionamos, por lo que podemos asegurar que somos especialistas en conseguir tu préstamo sin avales con las mayores garantías posibles. Gestionamos todo el proceso, desde la fase de admisión hasta el momento del cobro, ahorrándote trabajo y quebraderos de cabeza.

Además, este año se incorpora la nueva línea “Enisa Emprendedoras Digitales'' con una dotación de €51m para los próximos tres años.

Escríbenos y hablamos de cómo financiar tu proyecto.

Startup funding news 💸

  • Barcelona-based social commerce startup Picker raised €2.1m from Luxor Capital and btov Partners
  • Barcelona-based energy startup Solarmente raised €1.8m from Global Founders Capital and Soma Capital
  • Valencia-based Cubicup, developers of a platform to hire home renovation services, raised €830k
  • Zaragoza-based Singerfy raised €500k from various business angels
  • Valencia-based foodtech startup Ordatic raised €500k, led by Inveready
  • Unibo, a Barcelona-based neobank for property management, raised €500k from DraperB1 and other investors
  • Other rounds of funding: Gamesquare, Iteralix, Quota Rent
  • Startups raising funds: Unlimited

M&A activity 🎊

  • A few months ago it was announced that Burgos-based robotics company Asti had been acquired by Swiss giant ABB. The amount of the transaction has now been made public: $190m. Asti also released its revenue numbers for the August 2020-to-2021 period, €31m
  • Madrid-based tech consulting firm Sngular to IPO on the BME Growth (MAB). Sngular plans to debut with a market cap of €160m. The company expects to close this year with €60m in sales and EBITDA of €8m
  • US-based biotech company Aura Biosciences, founded by Spaniard Elisabet de los Pinos and backed by Spanish fund Ysios Capital, debuted on the NASDAQ with a market cap of more than $500m
  • Fermax acquired 8% of security startup Qvadis Innova

Investor & accelerator news 🚀

  • Nauta Capital announced the final closing of its 5th fund, at €190m. This brings the firm’s assets under management to +€550m. Nauta says that it has already made 11 investment ouf of the new fund
  • Josep Lluis Sanfeliu, co-founder and managing partner of healthtech VC Asabys was interviewed on the Views newsletter. Josep is also the former founder of Ysios Capital
  • El Español wrote a profile of Hugo Arevalo, co-founder of ThePowerMBA and also known for having invested as an angel early on in Glovo, Cabify and Jobandtalent

Startup news 💡

  • Wallbox published its first earnings report as a public company. The Barcelona-based energy startup grew revenues by 280% year-on-year, to $55m. Wallbox currently has a market cap of $2.2b. Here are more details about how much the company raised during the IPO process ($252m)
  • Capchase launched Earn, a new bank account for startups that’s promising to double their VC money for a relatively small cost of 2%
  • Personal shopping business Lookiero, similar to Stitch Fix in the US, announced plans to launch in Germany and that it has increased revenues by 50% year-on-year. The company employs more than 400 people out of its Bilbao headquarters
  • Yaba, the Amazon FBA aggregator, expects to soon close its seventh acquisition since being founded a few months ago and to reach €20m in annual sales. CEO Alejandro Fresneda explained what they bring to the table in terms of synergies for the acquired brands
  • Wetaca currently delivers 5,000 orders and 45,000 food tuppers. This was released in a much longer profile of the company, which to date has only raised €2.5m and expects to reach €11m in sales this year, with a gross margin of 25%
  • La Opinion de Malaga interviewed Bernardo Quintero, co-founder of VirusTotal (acquired by Google), about his career and Malaga's ascent as a tech hub
  • Neobank Bnext disclosed its financials for 2020. The company posted a loss of €9m, 21% lower than in 2019. No details of the impact of covid on its business
  • Fintech startup Belvo and Visa signed a strategic partnership agreement in support of Open Finance across Latin America
  • Xataka wrote an article on the various Spanish startups that are creating food alternatives to meat, featuring Heura Foods and others
  • Bilbao-based VC firm All Iron interviewed Jorge Poyatos and Albert Nieto, co-founders of adtech startup Seedtag
  • Zeleros said it would have a working prototype of a hyperloop ready to carry cargo in the port of Valencia by the end of next year
  • Startup profiles:
  • Vitaance: life insurance
  • Multiverse Computing: quantum computing for financial services
  • Tiendeo: digitized and geolocalized catalogues

Big company news 🏦

  • Telefonica could increase prices in Spain as a consequence of inflation, the company said
  • Google News is coming back to Spain
  • Indra says it has a problem hiring and retaining people, thus it will rely more on junior employees and interns going forward
  • Amadeus posted its first quarterly profit since the pandemic started
  • Banco Santander to start offering bitcoin ETFs to some of its customers
  • Spain’s Central Bank requesting financial institutions to outline crypto plans until 2024. The Spanish financial authority is asking banks to report on their business relationships with crypto service providers and exposure to crypto
  • Amazon has a distribution centre in Illescas, a small village near Toledo, and several other companies have followed suit with their own centres there, which is located not far from Madrid. This has had a positive impact on local employment and real estate prices

Interesting reads 🤓

  • David Bonilla (Manfred, Bonoilista) wrote about whether you can be a founder of a successful startup and only work 8 hours a day
  • Samuel Gil (JME) continued his c-level rundown with the role of the CPO or head of product
  • Ivan Landabaso (JME) wrote about vertical social networks
  • Sifted published an article on the evolution of the Spanish startup ecosystem over the years, under the title "How Spanish startups are reversing the country’s brain drain". The article says that Spain has one of the fastest growing startup ecosystems in Europe for VC investment. VC investment reached an all-time high of €1.9b in the first six months of 2021, more than all of 2020
  • Barcelona's local government and various local universities unveiled Barcelona Deep Tech Node, an initiative to increase the number of deeptech companies and spin-offs created in the city
  • Angels Capital (Javier de Toro) and Osborne Clarke (David Miranda) published a useful post about how convertible notes convert in the case of an equity round

Podcasts 🎧

  • SeedRocket interviewed Alberto Rau (Business Development at Wolt) and Ana Jimenez (Head of Operations at Trendier) to talk about TV advertising
  • Startuplinks interviewed Josefa Marzo, portfolio director of Kalonia Venture Partners, a Spanish VC that invests in Latam fintech startups
  • Product Hackers interviewed Wences Garcia and Yaye Caceres of marketgoo, to talk about how the bootstrapped startup has scaled over the years and the methodology it has used to do so
  • Itnig interviewed Alfonso de la Nuez, co-founder of Userzoom, a startup that has grown to more than $100m in ARR
  • Novicap interviewed Miguel Carranza, co-founder and CTO of RevenueCat

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