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Startup funding news 💸

• PLD Space is raising €130M to expand production of its Miura 5 rockets and add new launch sites, including one in Asia. The company expects to close the round before the end of the year
• Amenitiz, the Barcelona-based SaaS platform for independent hotels, secured €38.9M in Series B funding led by Kfund, with Thayer Ventures and Columbia Lake Partners joining. Amenitiz has 15,000+ hotel clients and does €3B in processed bookings
• Playtomic raised €13M via crowdfunding at a €330M valuation. It reported €29M in net revenue over the past year, aims for €33M in 2025, and plans to expand in the U.S. and into pickleball. 2024 gross revenue hit €181M, with €14M in losses
• The Spanish government, via SETT, invested €9.5M in Ideaded, a microelectronics company developing sustainable microchips using alternatives to silicon
• Lative, a sales intelligence startup co-founded by Spanish entrepreneur Laura Tortosa Sancho, raised $7.5M to scale its AI-powered platform. While headquartered in Dublin, the company also operates from Barcelona
• Inveready invested €5M in Experience Group, a Madrid-based firm providing operational services for major fashion and sports brands
• Velorum, a Barcelona-based startup focused on applied AI and enterprise knowledge automation, raised €3M from Iris Venture Builder
• Standard21, Spain’s first native bitcoin treasury, is raising up to €13M ahead of a planned 2026 IPO. The firm has begun with a €3–4M “friends and family” round and will follow with a €10M institutional round. 90–95% of the capital will go toward buying bitcoin
• Holo, a Barcelona-based healthtech startup founded by former Factorial employees, raised a €1M pre-seed round led by Calm/Storm Ventures and Mission VC. The company offers an all-in-one health app integrating lab testing, wearables, and AI to provide preventive, personalized care. More info here
• Other rounds of funding:
• NZero, a Spanish brand specializing in organic waxes and lubricants for snow sports and cycling, secured €150k from Eoniq.fund

M&A activity 🎊

• Deal finalized. Clio, the Canadian legaltech giant, closed the $1B acquisition of vLex, a Barcelona-based legal research platform. Backed by US$500M in equity and US$350M in debt
• Libeen, a Madrid-based proptech focused on rent-to-own housing, has listed its own SOCIMI on the Portfolio Stock Exchange with an initial valuation of €4.1M. Backed by Andbank (via Actyus and MyInvestor), Cusp Capital, and notable angels, Libeen plans to invest €25M in 130–150 homes in phase one

Investor & accelerator news 🚀

• Kibo Ventures is developing a new pre-seed fund to capitalize on the surge in early-stage AI startups in Spain
• Tressis launched Capital Tech II, a new tech-focused fund of funds aiming to raise up to €30M

Startup news 💡

New startups and product launches

• New companies:
• Founded by Spaniards Toni Lopez and Pablo Omenaca, Karumi uses AI agents to run automated, personalized product demos in video calls—available 24/7 and in any language
• Checkia.ai is a new compliance-focused legaltech venture, launched in Spain to help companies navigate the EU’s AI Act. The company is led by Luis Gosálbez and Metricson
• New products and (key) features:
• Lingokids has partnered with Disney to bring characters from Mickey & Friends, Frozen, and Moana into its app through nearly two dozen exclusive educational activities

Startup financials

• The good news:
• Profile of Seedtag and interview with Albert Nieto, who will step down as CEO by year’s end. The company operates in 17 countries with nearly $400M in 2025 revenue, half from the US
• Holafly, the Spanish startup founded by Pedro Máiquez and Yingyan Hu, has grown into a global player offering unlimited data plans for travelers via eSIMs. After pivoting from physical SIMs and surviving COVID’s collapse in travel, the company reached €200M in revenue in 2024 with 600 employees. Pedro was recently interviewed in the itnig podcast
• Typeform closed 2024 with €83M in revenue via its Spanish entity, up 4% YoY, though growth slowed due to shifting U.S. client billing to its American subsidiary. Its net profit more than doubled to €8.7M
• Biorce is a Barcelona-based developers of Aika, an AI platform that manages clinical trials from start to finish. Already working with major pharma clients, the company expects to reach €12M in revenue by the end of 2025, just 18 months after its founding
• Genesy has reached $3M in revenue by deploying a structured, data-driven outbound sales system, which they explained here. Italy now generates 35% of Genesy’s revenue
• The not so good:
• Bodas.net, the Spanish wedding services platform owned by The Knot Worldwide, launched an ERE affecting 175 employees—around 28% of its Barcelona workforce. Despite growing revenue to €86.5M in 2024 and posting €23.6M EBITDA, the company cites organizational restructuring

Other news

• Multiverse Computing is helping Telefónica enhance its customer service by applying quantum-inspired AI to compress large language models (LLMs)
• Glovo faces an additional claim of €100M from Spain’s Social Security, on top of the €450M already provisioned for unpaid contributions and fines related to its former use of “autónomos” riders

Fintech news

• There were a bunch of fintech related news last week:
• Klarna is accelerating its transition from a BNPL fintech into a full digital bank in Spain. The Swedish firm just launched a debit card linked to a current account, allowing users to split payments into three interest-free installments
• Bit2Me has secured CNMV approval to transform its subsidiary into a broker-dealer, enabling the launch of Spain’s first tokenized stock exchange
• Revolut is planning to launch a private banking division in Spain, aiming to serve high-net-worth individuals
• SeQura has entered the crypto space with a new cashback app offering up to 10% back in Bitcoin at over 500 premium retailers

Big company news 🏦

• Microsoft has received preliminary approval for its €10B data center project in Aragón, set to be its largest in Southern Europe
• The CNMV has fined Twitter/X €5M for repeatedly allowing ads from “chiringuitos financieros”
• Indian company Zoho has opened a new office in Valencia, aiming to double its team from 45 to 100 employees to support growth in Spain
• Inditex reported a 13% drop in net profit for its subsidiary Fashion Retail, which manages online sales in markets without physical stores. Despite revenues reaching €411M in 2024, rising logistics and service costs reduced net profit to €62.5M. The unit now accounts for just 4% of Inditex’s €10.16B global online sales

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Interesting reads 🤓

• Manfred published its 2025 Tech Career Report, analyzing over 112k developer profiles in Spain
• Interview with Javier Megias, COO of Frenetic, about entrepreneurship in Spain
• Ignacio Arriaga wrote “Cómo podemos modelar un buen negocio”
• Enrique Dominguez wrote “La caída de Sonder, cuando la narrativa pesa más que los números”
• Pau Ramon (Fika) wrote “Building the pipeline: A sales-driven process for hiring”
• Javier de la Torre (CARTO) responded to Mozilla’s open letter on “Harnessing open source AI to advance digital sovereignty,” warning against conflating technology competitiveness with sovereignty. He argues that while open-source AI boosts innovation and competitiveness, relying solely on open-source software for sovereignty is unrealistic and could deepen Europe’s tech dependencies.