Wooptix raised €10m. New All Iron fund. Lots of funding rounds.
July 24, 2023 • Issue #380
The Startup CFO: Your partner in financial success
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With our team's experience of working with over 200 startups, we have successfully addressed strategic and financial challenges, providing value and enabling sustainable growth.
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Startup funding news 💸
- According to SpainCap, Spanish startups raised a combined €529m in the first six months of 2023, a decrease of 57% compared to last year. SpainCap said that they expect results to be better in the second half of the year
- Tenerife-based Wooptix raised €10m, led by Bullnet Capital and CDTI. Intel, already an investor in the company, also participated in the round. Wooptix is a solution to capture and process the entire light spectrum, used in the semiconductor industry
- Donosti-based biotech company Cimico raised €7m, led by Moira Capital Partners. Cimico develops biotechnology for the treatment of residual water
- Madrid-based agritech ZoomAgri raised €6m, co-led by GrainCorp and GrainInnovate
- Barcelona-based biotech company Orikine Bio raised €5.5m, led by Sabadell Asabys and AdBio
- Donosti-based Safeloc Systems raised €2m from BeAble Capital and the Basque government. SafeLoc develops and manufactures real-time location systems (RTLS) solutions based on ultra-wideband (UWB) technology
- Madrid-based edtech Ucademy raised €1.1m, led by Brighteye
- Sevilla-based Newe raised €1.1m, led by Fondo Bolsa Social. Newe allows businesses to build pay-for-use models
- Valencia-based Flowww raised €1m from Banco Sabadell. Flowww runs a SaaS product for beauty and wellness businesses
- Alicante-based All in Biking raised €1m via Fellow Funders
- Startups looking for funding: Flappin
- Other rounds of funding: Deep Detection,
Investor & accelerator news 🚀
- All Iron Ventures announced the launch of a new fund, with a target size of €150m. The fund plans to invest in around 50 companies, at the early stage. This will be All Iron's third fund, the first one, launched in 2019, was a €66.5m fund that currently has an MOIC of 1.91x (according to La Informacion) and the second fund was a fund of funds of €30m launched last year
- El Español interviewed Jesus Monleon, co-founder among other things of SeedRocket, to talk about the history of the accelerator program, which just turned 15 years old
- Interview with Ben Marrel, co-founder of French VC firm Breega. Breega opened an office in Barcelona a year ago and has made three investments in the city to date: Ukio, Dawa and 011h
- El Mundo interviewed Roberto Albaladejo, head of BBVA Spark, the bank's startup division: "Tardaremos muchísimo en ver otro ciclo como el de 2020 y 2021"
- HubCero is a new coworking and incubator in Malaga that plans to invest in proptech, fintech and blockchain
Startup news 💡
Do you find yourself juggling multiple financial tasks, leaving you with little time for strategic decision-making? If that’s the case, you should talk to The Startup CFO
- Simon Muñoz, platform product manager at Voicemod, wrote the fact that starting in September, Glovo will ask employees to come back to the office three days a week: "Glovo fuerza a sus empleados a volver a la oficina: ¿Es el fin del trabajo remoto?"
- For startups to be able to take advantage of the new Ley de Startups, they will need to be accepted by ENISA as a "emerging company". After months of wait, ENISA is now accepting applications to receive that consideration. This article explains what criteria ENISA uses to consider a company an "emerging" one or not
- Typeform launched the private beta of Formless, a new product from its lab division that claims to be "the world's first fully conversational form product". Co-founder David Okuniev wrote about the launch here
- Fitness startup Volava to enter insolvency proceedings (concurso de acreedores) after failing to raise more funding
- Wallapop turned 10 and Business Insider published a special about the mobile marketplace and iconic company
- Scalar launched on Product Hunt. Scalar is a Chrome extension to help people unlock a new level of meeting awareness by effortlessly tracking the cost of each meeting you attend or schedule
- Berlin-based gaming studio Klang Games announced that it will be opening an office in Madrid
- Startup profiles:
- Fossa Systems: aerospace and satellite imaging
- Tuio: insurtech
Big company news 🏦
- The CNMC, Spain's antitrust watchdog, imposed fines worth a total €194.1m on Amazon and Apple for colluding to limit the online sale of devices from Apple and competitors in Spain. The penalties relate to a deal the companies made in 2018 that made Amazon an authorized Apple dealer but also included alleged anti-competitive clauses. More info here and here
Interesting reads 🤓
- An article in El Confidencial explores the impact that the tech boom in Malaga might have had in real estate prices. It's hard to claim that it was technology that has sparked the prices of homes in Malaga, but no doubt prices have increased dramatically in the past few years
- Javier Escribano, co-founder of Ontruck, former CPO and who now runs EscuelaEscribano.com, wrote "Product Engineers: El Secreto Mejor Guardado de las Startups con Buena Cultura de Producto"
- Aurore Falque-Pierrotin, partner at investment firm Samaipata, wrote "What role software can really play in helping us reach net zero goals?"
- Wired published a profile of Adrián García-Aranyos, president of Endeavor
- Life on Mars published an interview with Àlex Rodríguez Bacardit: "Taking investment or selling MarsBased?"
- Kfund interviewed Timo Buetefisch, co-founder and CEO of Cooltra
- Itnig interviewed Horacio Martos and Andrés Bou, co-founders of gaming startup Socialpoint, acquired by Take Two for $250m
- Product Hackers interviewed Yassir Rais, CEO and founder of Syra Coffee