Wallapop reportedly raising €100M+. Badi regains control. Malaga's evolution.
December 12, 2022 • Issue #348
V EDICIÓN STARTUP FINANCE: EMPIEZA EL 26 DE ENERO
Más de 240 alumnos de hasta 8 nacionalidades distintas ya se han formado en The Startup Academy. Profesionales con más de 7 años de experiencia en startups, Venture Capital, Private Equity y aceleradoras e incubadoras.
Nuestra comunidad está formada por grandes perfiles profesionales, CEOs, miembros del management de startups, Business Angels y perfiles de corporate.
Si quieres hacer networking con todos ellos y formarte en finanzas para startups, ¡estás a tiempo! ¡Preinscríbete sin compromiso en el siguiente enlace! Más info sobre el programa aquí.
Startup funding news 💸
- Spanish startups raised a combined €213M in November
- Wallapop reportedly in advanced discussions to raise more than €100M in primary and secondary. The round could be led by Korelya, a French VC firm whose main shareholder is Korean tech giant Naver
- Ray Electric, a company that specializes in the development of electric motorbikes, is looking to raise €20M
- Barcelona-based Mobile Media Content raised €2.5M led by Caixa Capital Risc
- Other rounds of funding: Magnettü
- Startups looking for funding: Golfee
M&A activity 🎊
- Audience management and understanding company Audiense announced its first acquisition to date, buying SOPRISM
- Fintech startup and stock broker Ninety Nine sold its B2C business to Dutch company BUX
- Investment firm Nazca acquired a majority stake in Eolos to accelerate its growth plan. Eolos is one of the global leaders in the collection and commercialization of metocean data for the offshore wind industry, obtained through its own floating LiDAR platforms. The transaction has included the acquisition of a stake from financial shareholders and the injection of €12M to accelerate its growth plan in the coming years
- Voicemod, a Valencia-headquartered AI voice augmentation company, announced yesterday it had bought its Barcelona-based audio tech peer Voctro Labs
Investor & accelerator news 🚀
- Andoni Goicoechea, founder of Goiko Grill, participated in the $10M round of Colombian ghost kitchen company Vibran. Andoni, who invests through his family office Etxea Ventures, invested $1.5M
- Wayra invested €350k in Munich-based internet accessibility startup enna
- Spanish/Israeli investment firm Cardumen Capital participated in the $35M round of NeuReality, an Israeli company that wants to bring AI accelerator chips to market
- DayOne is looking for startups to join its Premios EmprendeXXI. Applications are open until December 15th. More info here
- VC firm Samaipata published a post on capital intensive tech businesses and the role that debt plays in allowing those businesses to exist and to be created
- UpBizor did a webinar on alternative and non-dilutive funding
Startup news 💡
TSCFO's Startup Academy starts on January 26th. If you're interested in the world of finance and you need financial skills for your daily job, this is a great opportunity to become a better professional. Sign up here
- RevenueCat, the revenue and in-app management system for mobile apps co-founded by Spaniard Miguel Carranza, rolled out a product that allows developers to A/B test different price points for their app subscriptions
- Open banking API company Belvo announced the integration with Colombia's DIAN (Dirección de Impuestos y Aduanas Nacionales de Colombia), thus allowing to secure and instantly share and access tax and fiscal data from people and businesses
- We at K Fund published a post on the solar startup ecosystem in Spain and where we believe the largest opportunities exist
- The founders of proptech Badi said that it has regained control of the startup, which was in the hands of the VCs that had invested almost $50M into the company in the past few years. Carlos Pierre, co-founder of the company, said in an article that "los fundadores nos habíamos diluido demasiado porque los inversores hicieron ampliaciones de capital a nivel interno para seguir adelante. Consideramos que volver a tener el control dará buena imagen para el futuro de la empresa y por eso, hemos llegado a un acuerdo amistoso para recuperar el 80%. Los fondos nos han cedido sus acciones a cambio de nada”
- Basque foodtech company Biotech Foods to invest €30M in a factory to create lab-grown meat. According to the company, it will be the first factory of such characteristics in Spain. Also on the topic of foodtech, here's another article featuring four Spanish startups developing plant-based meat: Zyrcular Foods, Isauki Foods, Mimic Seafoods, Seavolution Foods
- Car ecommerce company Clicars said that it has surpassed €716M of accumulated turnover since being founded. €96M in the last quarter with a growth of 79% YoY
- Wuolah, the Sevilla-based edtech platform, says that some students as making as much as €4K per year by sharing their class notes, and also that it plans to start offering online tutoring classes
- Interview with Jordi Romero (CEO) about the journey of Factorial and its recent unicorn status. Here's another article on Factorial and its goal of becoming a relevant player in the Latam HR space
- Startup profiles:
- Banktrack: fintech
Big company news 🏦
- This is weird and doesn't make any sense. Catalunya to implement a tax on local businesses that sell through Amazon's marketplace
- Intellias, a tech enabler for Fortune 500 enterprises, is entering the Spanish market and has opened its first office in the Monday co-working space in Málaga
- Ardian, the second largest investor in Spanish travel company eDreams, plans to sell its stake to liquidate its fund
- The Spanish government chose Coruña to house Spain's Agencia Española de Supervisión de la Inteligencia Artificial (Aesia)
Interesting reads 🤓
- Interesting article about Malaga and why it has become one of Spain's trendier cities in recent years. The article focuses on the work done by the city's major as well as the role that Malaga's technology park plays in the evolution of the startup ecosystem
- Alejandro Artacho, co-founder and CEO of Spotahome, wrote an article on Ancla's newsletter about mental health, titled "Wake up and take control"
- Eduardo Gulias, former CTO of Packlink and now VP Engineering at Auctane, wrote about the "10 months after the acquisition" of Packlink by the latter
- David Bonilla, CEO of Manfred, wrote "About legacy" or "Sobre la importancia, o no, que damos a lo que dejamos tras nuestro paso por un trabajo"
- Javi Santana, co-founder of Tinybird, wrote "Could chatGPT work at Tinybird?"
- Samuel Gil, partner at JME, wrote "how to navigate the 2023 storm"
- Product Hackers interviewed Nacho Herranz, COO of Wuolah
- Marketing4Ecommerce interviewed Borja Aranguren, co-founder of Cobee
- Itnig interviewed Rober Dobaño, founder of Quipu, which was recently acquired
- SeedRocket interviewed Felipe Polo, founder of GuideSmiths
- MarsBased interviewed Marc Collado (ex IronHack, Gamestry) about the topic of generalists vs. specialists