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Bonsai launches €165M fund. Triditive raised €5M. Lots of M&A.

June 20, 2022 • Issue #324

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Startup funding news 💸

  • Asturias-based Triditive, a sourcing platform for manufacturers to produce parts on-demand and scale production, raised €5M
  • Madrid-based health tech company Insulcloud raised €4M
  • Barcelona-based web3 venture studio Wagmi raised €3M from Inveready, Bit2me and others
  • Valencia-based proptech Designable raised €2M
  • Madrid-based sustainability startup Dcycle raised €1M from DraperB1, Angels and others
  • Other rounds of funding: Next-Gen Leather, Wozala,

M&A activity 🎊

  • Netmore’s network company ECN acquired Spanish LoRaWAN operator Redexia, which offers networking services in the IoT space. Congrats to Redexia's CEO Alex Bryszkowski. I've lost count of the businesses that Alex has sold over the years. Kudos!
  • Seedtag acquired KMTX, a French company dedicated to building AI models to optimise and automate performance campaigns
  • Recruiting startup Circular announced the acquisition of French startup RecruitersClub and its launch in France
  • idealista acquired Elche-based Inmovilla, a proptech software provider that specializes in CRM
  • Visual commerce startup Photoslurp got acquired by Swedish company Flowbox
  • Amber Capital, led by Joseph Oughourlian, acquired a 4.1% stake in Indra. More about the current shareholder situation at Indra here
  • MasMovil received the green light from regulators to complete the acquisition of AhiMas, a company focused on providing telco services for small and mid-sized towns in Southern Spain

Investor & accelerator news 🚀

  • Bonsai Partners announced the launch of two new funds of a combined €165M. With the core fund, Bonsai plans to invest between €250K and €10M. The firm also announced that it will allocate €2.5M of the fund to invest in pre-seed companies, with cheques ranging from €20K to €200K
  • DraperB1 to partner with Renta4 to raise a €100M fund
  • Additio Ventures is a new €60M fund to invest in deep tech companies
  • Mutua Madrileña is preparing a €30M fund to invest in startups in Spain, Chile and Colombia
  • Lanzadera to launch a new eSports accelerator program

Startup news 💡

  • Fintech startup Indexa Capital, which has €1.4B of assets under management, says that they could explore an IPO on the BME Growth in 2023. Given that Indexa is a service built upon the trust that customers (I am one of those) have on them as a team, I think this makes a lot of sense instead of exploring M&A opportunities
  • Talent agency Manfred launched an interesting product: a way for teams -or groups of people within companies- to try to find a new job together, which would allow companies to hire a team that has been working together for some time and at once. Xataka published a profile of Manfred
  • Jordi Romero, CEO of Factorial, was interviewed to talk about the future of the Spanish economy and the role that entrepreneurship and startups could play in its evolution. More here
  • British neobank Revolut said that it has 1M customers in Spain, +76% YoY
  • Visma, the Norwegian software giant that in recent months has acquired three Spanish startups that have SaaS products for SMBs (Holded, Woffu and Declarando), says that it could buy more local companies before the end of the year
  • Pep Gomez, co-founder of urban logistics startup Reby (acquired for $100M very recently) said in an interview that the company plans to expand to the US in the near future
  • Long profile of Odilo and its founder Rodrigo Rodríguez, the digital content startup based out of Cartagena (Murcia) that recently raised €60M
  • Miguel Andel Diez Ferreira announced that he's no longer CEO of Erasmusu and explained why in a post
  • Startup profiles:
  • Bdeo: AI applied to insurtech (K Fund portfolio co.)
  • Rever: reverse logistics

Big company news 🏦

  • 'Boinas Verdes' is a new book about the history of Commandos, one of the most iconic games in the history of the Spanish gaming sector
  • Telefonica could expand its 4-day week employment offer to the whole company

Interesting reads 🤓

  • Javier Santana, co-founder of Tinybird, published "The hard parts of building massive data systems with high concurrency"
  • Caroline Lagergren, of Expand To Spain, published "Must-know Spaniards building the metaverse ecosystem"

Podcasts 🎧

  • Product Hackers interviewed Bernat Ripoll, co-founder of Holded
  • The Disruptors interviewed Ariel Camus, co-founder of microverse, to talk about the future of education
  • El Confidencial interviewed Christian Gascons, co-founder of gaming company Games for a Living
  • K Fund interviewed Alejandro Artacho, co-founder of Spotahome
  • Novicap interviewed Silvia Rivela, co-founder of DOWE, Cohesionist y Female Startup Leaders