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Satlantis gets €16.5m. Seaya launches Latam fund. Ship2B new fund.

November 29, 2021 • Issue #295

Google Cloud and Adsmurai strengthen their partnership for AMP platform

Adsmurai and Google Cloud strengthen their Ads partnership using Google Cloud technology to scale their Adsmurai Marketing Platform solution.

Adsmurai is one of the most innovative startups in the sector with a proprietary technology that allows you to automate and scale your Paid Media strategies on all ad platforms to retail clients with large product catalogues.

Juan Antonio, founder of Adsmurai: "At Adsmurai we have built our technology on Google Cloud. GCP's computing services, high availability storage and auto scalability has allowed us to create a product that improves our customers' productivity and efficiency and helps us to continue growing without limitations. Also, Google Cloud's additional services in Machine Learning and Visualisation. with Looker embedded in our platform, will allow us to innovate with the best data strategies and improve decision making for our customers."

Startup funding news 💸

  • Bilbao-based Satlantis, a company that designs and manufactures high performance earth observation payloads for small satellites, raised €16.5m from CDTI
  • Castellon-based Cuatroochenta, a tech consulting firm that went public on the MAB, raised €4m from Inveready
  • Asturias-based supply chain company Triditive to receive as much as €3m from GoHub Ventures
  • Madrid-based Luda Partners raised €2.5m. Luda is building a network of pharmacies generating new sources of income and reducing shortages
  • Barcelona-based gaming startup Champion Games raised €2m, led by Play Ventures
  • Switzerland-based but Spanish-founded predictive analytics startup Kido Dynamics raised €1.9m
  • Valencia-based network management company Kenmei raised funds from Bewater Funds in a secondary transaction
  • Other rounds of funding: Twin&Chic, focus360º, Webel,

M&A activity 🎊

  • PE firm Silver Lake announced the acquisition of Grupo BC, the leading mortgage management, legal and digital services provider to the financial sector in Iberia and Latin America. This transaction includes, acquired by Grupo BC in 2017
  • In the fintech sector, Sego Finance acquired Fintup
  • In the real estate sector, Clikalia acquired Inmho

Investor & accelerator news 🚀

  • Seaya Ventures and Cathay Innovation launched a $125m fund for Latam startups. The fund already has an office in Mexico DF and will be led by Federico Gómez Romero. The Seaya Cathay Latam Fund will invest in 12 to 15 companies and will write check sizes of between $5m and $10m. It targets consumer and enterprise companies developing technologies in areas like fintech, proptech, mobility, healthtech, food, agriculture and cybersecurity
  • Ship2B announced the launch of a new €55m fund to invest in companies that have a specific focus on social impact and sustainability. The firms expects to invest between €250k and €1m in each company
  • Real Madrid to launch a €4.5m vehicle to invest in 30 companies
  • Spanish VC funds have raised more than €500m combined in 2021. The list of funds who have raised new funds this year includes Nauta Capital (€190m), Seaya (€137m), 4Founders Capital (€50m) and others such as Kibo and ourselves at K Fund (Leadwind) are on it right now
  • Adevinta, formerly Schibsted, wants to invest in more Spanish startups

Startup news 💡

  • Freepik continues its expansion into new products. Following the success of its graphical assets marketplace, which helped the company grow revenues to €50m in sales and 50k paying customers and sell to EQT for reportedly more than €200m, Freepik is now launching new products of its Labs, including a video assets marketplace, Vidfy, and others such as Slidesgo. With these new and olt initiatives, Freepik expects to reach a total of 140m user
  • Octavi Uya, co-founder and former CEO of boat marketplace Nautal, has been writing for a long time on his blog the history of the company, which ended up being acquired by competitor Click&Boat. It's a good read! Octavi pubished an update this week, explaining the first time he had to fire a key employee
  • Notification-as-a-Service startup MagicBell published a blog post explaining why early investment in brand identity is a startup’s best bet
  • Cabify, Uber and Bolt could have one more competitor in Spain. UK company Gett could launch in the first half of 2022
  • Sunglasses brand Hawkers opened its first Spanish factory. The company expects 50% of all glasses sold in 2022 to be 'made in Spain'
  • Louis Coppey, partner at Point Nine Capital, wrote a blog post explaining what led them to invest in Barcelona-based hospitality SaaS company Amenitiz
  • Accelerator Lanzadera opened a retail store in a Valencia shopping centre to showcase and sell the products of several of the DTC and ecommerce brands it has invested in
  • Glovo announced that its global logistics service for the third sector, Glovo Access, has delivered more than half a million meals on behalf of NGOs, city councils, charitable foundations and social enterprises
  • Creand Wealth Management, the private banking arm of Credit Andorra, signed a partnership with to launch a variety of investment options
  • German mobility startup Tier to launch its e-scooter service in 60 Spanish cities
  • Startup profiles:
  • Arengu: build frictionless signup flows
  • Robotnik: robotics
  • Qlip: SaaS product to help real estate agencies sign up their customers to utilities

Conoce cómo Google Cloud puede ayudar a solucionar los principales retos del mercado.

Big company news 🏦

  • According to consulting firm Oxford Economics, YouTube contributed €313m to the Spanish economy and helped create 21,000 jobs. I haven't seen the study to understand how they got to these numbers
  • According to La Informacion, Laura Abasolo is well positioned in the succession plans of Telefonica. She's the current CFO of the company

Interesting reads 🤓

  • Cloud District published a report on the current state of Digital Products in Spain. The report is a result of a survey with more than 120 Spanish executives and product people, as well as 40 interviews
  • According to a KPMG study, food delivery will amount to 12% of all restaurant sales. The number pre-pandemic was 7%
  • In the past few years, multiple Spanish cities and villages decided to launch their own marketplaces in order to promote local commerce and compete with Amazon. Hipertextual published a long article on this, and why many of these initiatives have not gained much traction
  • According to a study by the Observatorio Nacional de Tecnología y Sociedad (ONTSI), the number of remote workers in Spain has gone down significantly in the past few months. 11.2% of the total workforce was working outside of their office in March 2021, compared to 8% in September 2021
  • If you know nothing about web3, or how crypto and blockchain technologies could impact the products and services to be created in the future, this article by Newtral is a good place to start
  • Cyprien Hallé of VC firm Samaipata published "4 weapons and 6 tactics to ignite your network effects"

Podcasts 🎧

  • Product Hackers interviewed Carmen Guerrero, head of marketing at Freepik
  • SeQura interviewed Montse Labiaga, CEO of Fotografía eCommerce
  • Novicap interviewed Nacho de Pinedo of ISDI
  • Itnig interviewed Marc Bigas of Skitude
  • K Fund interviewed Juanjo Mostazo to talk about his experience as a business angel