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H2B2's €600M SPAC. Exus renewable energy fund. Countercraft and Belvo's 2022 recap.

January 9, 2023 • Issue #352

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Startup funding news 💸

M&A activity 🎊

  • H2B2, a Sevilla-based company that operates systems based on electrolyzers for hydrogen production from water and electricity, to go public on the NASDAQ via a SPAC. The transaction could value H2B2 at €600M

Investor & accelerator news 🚀

  • Exus Partners Energy Fund is a new fund to invest in renewable energy products in Spain and Portugal. The fund has a target size of €50M
  • Some funds have published their 2022 numbers. Samaipata did 8 new deals for a combined €12M and Angels Capital, the investment arm of Juan Roig, did 7 deals and €3M
  • Oriol Pinya, founding partner of Abac Capital and president of SpainCap (previously Ascri), talked about the investment environment in 2022 and 2023, the Spanish startup law and other topics

Startup news 💡

  • Cybersecurity startup Countercraft published an open letter by its executive team, with a summary of what the company did in 2022: "This year, we caught several nation-state actors red-handed in their attempts to disrupt and destruct government websites. We stopped attacks on critical infrastructure like electrical substations and banking networks. (...) Overall, our tooling has detected thousands of external attacks and hundreds of malicious insiders"
  • Belvo 's podcast interviewed Uri Tintore and Pablo Viguera, co-founders of the company, to look back on 2022 and the goals for 2023, which evolve around pay-by-bank and account-to-account payments: "This year will be key to consolidate this line of products to allow financial innovators in Latin America to move money in a more efficient, frictionless and cost-effective way, replacing other traditional systems like credit cards, and bringing exciting new use cases to the market"
  • Badger is a new product launched by the team behind marketgoo. The new product promises to deliver good SEO reports in minutes. Wences Garcia, CEO of the company, explained in a post why the launch might be an inflection point for marketgoo. Wences also shares how the company operates, and how they articulate a multi-product strategy based on a company vision and 5-stage model
  • Rentall to power the new consumer electronics renting service of Carrefour
  • Rovio, the European gaming company behind Angry Birds, to open an office in Barcelona. Official announcement (from October) here
  • German stock broker Trade Republic announced that it will pay 2% interest on up to €50k that users might deposit on their TR accounts. This benefit also applies to Spanish customers
  • Business Insider put together a list of 10 Spanish tech companies that have participated in this year's CES (Consumer Electronics Show) in Las Vegas. The majority are companies with a strong hardware component
  • Startup profiles:
  • AgroSingularity: foodtech
  • VI&GO: battery swapping for micromobility
  • Cluwall: cybersecurity

Interesting reads 🤓

  • 2023, the year that will consolidate Malaga as a tech hub: an article that summarizes all of the large initiatives that should launch in Malaga this year, led by the opening of a cybersecurity centre by Google. The article also highlights the ambitious plans of Vodafone and Santander

Podcasts 🎧

  • Lunes Inspiradores interviewed Pepe Agell of Pear.vc (formerly founder of Chartboost)

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