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Okteto raised $15m. Hubuc got $10m. Omnidrone acquired.

February 28, 2022 • Issue #308

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Startup funding news 💸

  • According to El Confidencial, proptech company Housfy could soon announce a €30m round
  • US and Spain-based kubernetes platform Okteto raised $15m in Series A funding, led by Two Sigma Ventures. Okteto is headquartered in the US but some of its co-founders and the majority of its team is based in Spain
  • Barcelona-based embedded finance startup Hubuc raised a $10m seed funding round co-led by WndrCo and Runa Capital. SeedRocket interviewed co-founders Hasan Nawaz and Ignacio Javierre on its podKast. 4Founders Capital (formerly SeedRocket 4Founders) is also an investor in Hubuc
  • Barcelona-based plant-based meat developer Novameat raised €5.3m led by Praesidium
  • Sevilla-based edtech platform Wuolah raised €5m, led by Seaya. Wuolah says that it has 500k MAUs and more than 2.5m registered students. The platforms allows students to share class notes between one another. A few months ago, I interviewed Wuolah's co-founder Enrique Ruiz on the K Fund podKast
  • Barcelona-based hospitality company Hosco raised €3.4m, led by Aldea Ventures and Torsa Capital
  • Madrid-based health tech platform Bitsphi Diagnosis raised €2.85m from Bullnet Capital and CDTI
  • Barcelona-based health tech company DyCare raised €1.3m
  • Companies looking for funding: Learnlife
  • Other rounds of funding: Zinkee, Hoop Carpool, Fyla Laser, Saisho, Unique, Flappin

M&A activity 🎊

  • Tokenized asset firm Securitize, co-founded by Spaniard Carlos Domingo, acquired stock transfer company Pacific Stock Transfer. The deal turns Securitize into a top 10 player in an obscure corner of the capital markets.. Carlos Domingo had more details about the transaction here. More info, in Spanish, here
  • US-based gaming company Scopely, which already has offices in Spain, announced the acquisition of Barcelona-based gaming studio Omnidrone
  • Atrys, a Spanish firm that provides diagnostic services and precision medical treatment, recently transitioned from the BME Growth to the Spanish stock exchange. Since its debut on the market six years ago, the company has grown its valuation from €16m to 620m
  • Events management platform Partfy and Celebrents have merged

Investor & accelerator news 🚀

  • Alberto Arenaza of Trascend Network announced on Twitter that the organisation is raising its first fund. Transcend Network is a global network of founders building the future of learning and work. The fund would make investments ranging from $50k to $200k in pre-seed startups. In a separate tweet, Samuel Gil of JME announced that their fund is an LP in Trascend's fund
  • Nekko Capital announced a new €10m fund to invest in companies incubated by Nuclio Venture Builder
  • Business Insider wrote about All Iron Ventures' platform: a series of products and services to make it easy for portfolio companies to recruit, fundraise and get discounts on certain products

Startup news 💡

  • Novobrief wrote a profile of Freepik: "All eyes on Freepik, from a stock picture database to provider of every other type of content". In 2021, Freepik’s revenue was 37% more than in 2020 and the highest in the company’s history, €61.5m
  • PC Componentes launched its marketplace in 2018. Last year, it did €81m in GMV (+40% YoY) and 470k orders
  • Remote employment platform Remotely Works continues to make public a ton of information about its performance, including revenues and other interesting data. The company published a 2021 summary a few weeks ago, with one of the highlights being that it reached $167k in MRR in December of last year
  • Bnext plans to raise funding via equity and an ICO, could be as much as €20m
  • Spain's Supreme Court plans to review the current 1:30 ratio of taxi to VTC licenses, which are of key importance to companies such as Cabify, Uber and others. Cabify has requested 12k more VTC licenses
  • Talent agency Manfred announced what they called "a simple form", a way to make it easier for candidates to input their professional and personal data
  • Glovo launched in Ukraine in 2018. The company has a significant presence and business in the country. CEO Oscar Pierre published an internal email sent to Glovo's employees and riders following the Russian invasion
  • Spanish stock exchange BME trials blockchain carbon offsets. Its central securities depositary (CSD) division Iberclear partnered with blockchain startup ClimateTrade for a Voluntary Registry of carbon credits that can be used as carbon offsets
  • Housfy to invest €10m in opening retail real estate offices
  • VC firm Northzone interviewed Ariel Camus, co-founder of edtech platform Microverse. The interview focuses on combining remote work with education, scaling a more level playing field of opportunities, and making a long-term difference in people’s lives, one job at a time
  • German foodtech company HelloFresh plans to launch in Spain in the second half of 2022 and is looking to build a team in Barcelona. HelloFresh, which is a public company with a market cap of more than €8b, offers a recipe subscription service to consumers
  • One more article on the evolution of Malaga's tech ecosystem and the increasing relevance of startups in the city's economy
  • Expansion published various paywalled articles related to the Spanish startup ecosystem: one on Spain's other tech hubs beyond Madrid and Barcelona, another one on the same topic
  • Startup profiles:
  • Solum: urban mobility
  • Idoven: health tech
  • NFTs
  • DocFarma: health tech

Big company news 🏦

  • Government-dependent entity SEPI (Sociedad Estatal de Participaciones Industriales) acquired an extra 10% stake in Indra, increasing its stake in the company to 28%
  • Dutch payments gian Adyen announced plans to open a tech hub in Madrid. Adtech company The Trade Desk also has plans to open an office in Madrid
  • The €6.8b merger of antivirus companies Norton and Avast depends on the approval of regulatory bodies in both Spain and UK
  • Spain's tax office fined IBM with €50m
  • Volkswagen could open a gigafactory in the Valencia region

Interesting reads 🤓

  • Alberto Gomez, co-founder of VC firm Adara Ventures, published an article about perspective on cybersecurity, one of the key pillars of the firm’s investment thesis
  • Giuseppe Ciotta, VP Engineering at Belvo, wrote about how the engineering team works at Belvo.
  • Genbeta talked to several Spanish developers about their recommendations of programming languages to learn depending on your goals and objectives
  • Juan Macias, CTO of Bejao Fit, published "CleanCode is not what you think"

Podcasts 🎧

  • Itnig recorded a conversation between Pau Ramón, CTO of Factorial, and Àlex Rodríguez CEO and co-founder of MarsBased, about the current state of the developer market (salaries, culture, bootcamps, etc)
  • Novicap interviewed Xavier Pont of investment firm Ship2b