Inbenta raised $40M. ENISA record numbers. Cabify to IPO?
January 16, 2023 • Issue #353
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Startup funding news 💸
- According to data from Bankinter's Observatorio de Startups, Catalan startups raised a combined €1.3B in 2022. More details here
- Barcelona-based provider of AI-powered chatbots Inbenta raised $40M, led by Tritium Partners
- Sevilla-based camping marketplace Kampaoh raised €14M from various investors. The deal includes €12.5M in debt from a couple of providers and €1.5M from previous investors (JME, Encomenda and Axon)
- Malaga-based telehealth startup Docline raised €3M, co-led by US fund SEAF and EmergingTech Ventures
- Barcelona-based renewable energy startup H2PLT raised €2M from Sisco Sapena, president and founder of Lleida.net. The company operates in the green hydrogen space. Also last week, El Español published an overview of the green hydrogen space and the startups in the field
- Barcelona-based biotech company Science4Tech raised €2M
- Gijon-based travel tech startup Okticket raised €1.8M, led by Angels Capital
- Other rounds of funding: Tribaldata, Tribboo, hr bot factory
M&A activity 🎊
- According to El Confidencial, Cabify has hired Morgan Stanley to manage its IPO. The company could try to become a public company in the next 12 months at a €2B valuation. This is not the first time that we've heard about rumours of a Cabify IPO
- PreAct Technologies, a Portland, US-based developer of near-field flash lidar, acquired Spanish software company Gestoos. Gestoos develops machine learning software for gesture recognition
- Spanish payments company Sipay acquired a 75% stake in Woonivers Spain, a startup that allow travelers and consumers to get taxes back from their purchases
- German robotics company United Robotics Group acquired Valencia-based counterpart Robotnik
- Spanish co-living company Habyt to merge with US company Common
- Thirdera, a Valladolid-based consulting firm specialized in ServiceNow, to be acquired by US company Silverstorm
Investor & accelerator news 🚀
- ENISA published its 2022 numbers: 642 loans (+14% YoY) for a combined €105M (+13%). The number of loans is a record for the public institution
- Construction company Sorigue and Antai Venture Builder to launch a €20M climate fund
- Lanzadera announced the name of the 120 startups that will participate in its various programs this year, including 15 Portuguese startups
- Sergio Massano, partner at Antler, wrote an op-ed in Sifted titled: "Can tech move Spain and Portugal out of the shadow of dictatorship? Tech unicorns are finally solving the social and economic issues that have undermined democracy in Spain and Portugal for generations"
Startup news 💡
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- TSCFO 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
- Sifted wrote a post about what’s in store for Spanish tech in 2023. The publication talked to Javier Suarez (Oliva), Carina Szpilka (K Fund), Oriol Juncosa (Encomenda), Enrique Linares (Letgo) and others
- Glovo 's 2022 financials are out: the company increased its revenues by 65%, to €595M, but its losses also ballooned to €495M (up from a loss of €51M in 2021). Graphs here. Delivery Hero now says that the company will aim to become profitable in 2025. It's been also disclosed that the company's founding team, executives, early employees and other advisors received almost €115M as part of its incentive plan, which was executed once the transaction closed in July 2022
- Typeform finished its round of layoffs, which affected 60 people in Spain and 55 additional employees based outside of the country. In total, the layoffs affected 25% of its staff
- El Mundo took a trip down memory line and wrote a profile of Tuenti, the social network turned telco that Telefonica acquired several years ago. The article looks at the evolution of the company, the impact it had in the Spanish startup ecosystem and its current status within Telefonica
- Last mile logistics startup Paack did €62M in sales in 2021 and posted a loss of €2M. 2022 financials are not known yet
- Logistics and freight startup Trucksters says that it reached €30M in sales in 2022. The company's vision is to move world's freight in relays, accelerating the electrification and the autonomous agenda
- Ecommerce startup Tradeinn grew sales by 15% in 2022, to €433M. The company sells sports related material across 17 different verticals
- Online fashion startup Nude Project sold €11M worth of clothes in 2022, 4X the amount from the previous year. The company wants to push international sales this year
- Marcos Sorribas, co-founder of blockchain-based gaming assistant startup Tacter, published a post about the company's "secret master plan" explaining Tacter's strategy. Tacter is a K Fund portfolio company
- Startup profiles:
- Snab Payments: fintech
Big company news 🏦
- Twitter in negotiations with its employees and unions to complete a significant round of layoffs that could affect all of its Spanish staff
- Colman Deegan resigned as CEO of Vodafone Spain. More context here
- US-based autoparts corporate BorgWarner to invest €12M to open a R&D development centre in Vigo
- Amazon to open two new logistic centres in Zaragoza and Girona
Interesting reads 🤓
- The Fundacion Rafael Del Pino and MIT published a paper on deep-tech entrepreneurship in Spain
- Luis Gosalbez wrote a post about the 13th year anniversary for startup law firm Metricson, which he co-founded
- La Vanguardia published a long profile and interview of Mauricio Prieto, co-founder of eDreams
- The city of Barcelona plans to restrict or ban the opening and activities of ghost kitchens and ghost supermarkets, which tend to be operated by startups and larger players
Podcasts 🎧
- K Fund interviewed Humberto Ayres, co-founder of Portuguese startup Rows
- Itnig interviewed Alberto Bonhomme, founder of Instamaki
- Product Hackers interviewed Pol Rodriguez, of Mumbler