Awaiting keywords...

Jotelulu raised €4m. Inclimo climate fund. Typeform's viral growth.

May 29, 2023 • Issue #372

At we help you prepare and answer your questions to your data.

How much do you sell? How much stock do you have? How much does it cost you to produce? What is the yield? How much do you make?

These are examples of easy questions, but when you grow, they are not so obvious. If your company has grown and these questions hurt you, or if you want to grow without them hurting you: We feel you, we should talk.

In the end, most of the time, they are neither difficult nor complex questions, they are complicated questions when complexity dominates your business or systems.

We have experience answering complicated, complex and difficult questions and, above all, preparing your systems to maintain and scale the quality of your data (something you can't ask an AI, at the moment...xD).

At we have been helping teams like yours in Spain, UK, Switzerland and USA since 2016.

Startup funding news 💸

  • Madrid-based Jotelulu, a startup that provides cloud services to SMBs, raised €4.1m, led by Adara (who wrote about the investment here )
  • Valencia-based Yuvod raised €4m, led by Palomar Capital and Navesink Capital. Yuvod is a comprehensive PaaS with which to offer a personalized and high-quality IPTV/OTT service
  • Barcelona-based crypto startup Openfort raised a $3m seed round from various international investors. Openfort is a platform that streamlines crypto account management and empowers programmatic transactions through robust API endpoints
  • Madrid-based motorbike manufacturer Velca raised €1.2m via Segofinance
  • Other rounds of funding: Liceo de Farmacia, Vottun, Digital Earth Solutions,

M&A activity 🎊

Investor & accelerator news 🚀

  • The Climate Hub, a climate management company based in Barcelona, launched a new €40m investment fund, Inclimo Climate Tech, aimed at supporting emerging companies dedicated to decarbonization. More info here
  • Jon Uriarte and Ander Michelena, who founded Ticketbis together and also investment firm All Iron, have split and are no longer together. The article is behind a paywall, but it appears to state that Jon Uriarte, who is currently also president of Athletic de Bilbao, will leave All Iron related activities
  • Startup accelerator and investor Antler wrote about the new startup laws that have been approved an implemented in Spain and Portugal
  • Ship2b Ventures and Adevinta Ventures invested €3m in Berlin-based furniture marketplace Cocoli. The company is co-founded by Spaniard Gemma Comabella
  • Norrsken House Barcelona, Europe’s innovation hub for impact and tech, unveiled its latest initiative, the ‘Norrsken Club,’ a groundbreaking social club designed to unite experienced investors, entrepreneurs, and advisors from Barcelona in driving positive change

Startup news 💡

  • This was a very interesting post on Typeform's viral growth, published by US fund OpenView. Co-founder David Okuniev opined on how they attracted their first 1,000 users, the role of PLG in Typeform's early days, and his innovation process for launching 4 new products in 3 years
  • Sintetia published a long analysis of HolaLuz, the energy startup, that focuses on the financial risks associated with its business. It ends with the following conclusion: "Por ello, recomendaría claramente a la empresa que, además de hablar de la revolución de los tejados —una supuesta revolución que como mucho puede aportar 1 de cada 5 megavatios de las renovables que necesita España en 2030—, contaran a sus inversores cómo se puede sostener financieramente el modelo de negocio sin convertirse en una empresa con una gran caja negra de riesgo difícil de descifrar."
  • Xavier Borras, of the Institute of Molecular Science, published an interesting post about the opportunity Spain has in expanding and promoting the nanomedicine sector
  • RevenueCat, the startup that powers the subscription plans of thousands of mobile apps, published a post explaining how they communicate as a remote company. RevenueCat, although based in the US, was co-founded by Spaniard Miguel Carranza and has several employees in Spain
  • Profile of Twinco Capital, a fintech startup that offers a supply chain finance solution for the textile industry. The company claims to provide more than €200m per year to its customers
  • Design and edtech platform Domestika to execute a new round of layoffs that will affect 89 employees. In about a year, the company has reduced headcount from 275 to less than 100 employees
  • Interview with Alex Marti, co-founder of Mitiga Solutions, a company that takes a data-heavy, physics-based approach to predicting climate-driven risks. The company recently announced a fresh $14m round of funding
  • Factorial published a post showing how they're implementing AI to improve its product. The video shows how you can interact with the company's different products through prompts to make optimizations and changes
  • Energy startup Samara announced that it will become an official installer of Tesla's powerwall batteries
  • Malaga Hub did an overview of the Malaga cybersecurity ecosystem, which kicked off in the city 25 years ago with Hispasec
  • I wasn't sure whether to include it here or not, because I don't think the company can be defined as a tech startup although it has received VC funding: burger chain and food delivery business Vicio did a crowdfunding campaign to complement its €17m Series A round and it revealed its financials. €19m in sales last year, goal of €35m this year and its last valuation was €100m
  • Startup profiles:
  • Innogando: IoT to digitize farms
  • BlackDize: cybersecurity

Big company news 🏦

  • Payments company Stripe announced that it has been selected as Zara’s payments partner to process all payments for the retailer’s pre-owned clothing marketplace, Zara Pre-Owned
  • BBVA lowered the minimum age restriction for young kids to use its app, to 12 years

Interesting reads 🤓

  • Sam Altman, CEO of OpenAI, traveled around Europe to talk with regulators, startup founders and other ecosystem players. He was in Spain last week to meet with the president and other government members and he also did a fireside chat IE. No big news came out of those meetings. Techcrunch has the best coverage on his trip. Oscar Macia, co-founder of ForceManager, who attended the meeting, wrote about it here
  • Mario Lopez, engineering manager at Seedtag, wrote "Déjame sin trabajo, por favor", about the engineering manager role and his experience at it
  • Simon Muñoz, platform product manager at Voicemod, wrote "Domain experts vs. experts in practice"
  • Ivan Landabaso, partner at JME, wrote a post about sales tech stack with an overview of the different verticals and solutions in the space
  • Leaked government document shows Spain wants to ban end-to-end encryption. In response to an EU proposal to scan private messages for illegal material, Spain's officials said it is “imperative that we have access to the data.” More info here

Podcasts 🎧