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Startup funding news 💸

• Language learning platform Preply raised €150M in Series D funding at a €1.2B valuation, achieving unicorn status after 14 years. Despite the war, Preply maintains 150 employees in its Kyiv office, where it was originally born. Preply’s main office is now Barcelona, where it has more than 1,000 employees and where most of its C-level people are based
• Universal Diagnostics closed a €62M funding round with €30M from the Spanish government through SETT. The Seville-based AI cancer detection startup uses liquid biopsy technology to identify early-stage colorectal cancer and precancerous lesions
• Madrid-based Fracttal raised $35M led by US investor Riverwood Capital, with participation from existing investor Seaya Ventures, Kayyak, GoHub Ventures and Amador. Fracctal provides maintenance management software that converts assets into productivity
• Buendía, the Oviedo-based experiential tourism traveltech, closed a mixed €8M funding round comprising equity and debt
• Taalentfy, the employability and career guidance platform, raised €1.5M from Axon and CaixaBank to strengthen connections between education and the job market through digital solutions
• Dopelist raised €600k in pre-seed funding. Founded by ex-Google and Airbnb veterans Arianna Chica and Higinio Raventós, Dopelist uses proprietary multi-agent AI to classify content sent via WhatsApp or its app.

M&A activity 🎊

• US-listed OneSpan acquired 100% of Barcelona-based cybersecurity startup Build38 for an undisclosed amount. Build38 provides mobile app protection tools for financial institutions. Build38 previously raised €13M in 2023 from Tikehau Capital, Caixa Capital Risc and others
• Destinia acquired UK travel agencies Travel Republic and Netflights to enter the British market
• Exits involving tech consulting firms:
• Indaws, a Valencia-based Odoo ERP consulting firm with 55 employees and offices across Spain, agreed to integrate with Belgian Dynapps, the world's largest Odoo distributor
• Jungle acquired digital marketing consultancy Rocket for 100% equity, marking its fifth acquisition since 2022. The Barcelona-based firm, with offices in Madrid and Milan, brings 80 professionals and certified Shopify partnerships to Jungle's portfolio. The deal will help push Jungle's revenues past €80M by 2026

Investor & accelerator news 🚀

• Demium launched Mission Fund I, targeting €35M to invest in around 80 pre-seed Spanish companies. The firm rebranded as Mission, marking its transition from incubation to direct VC investment. Led by Jorge Dobón, the fund will invest initial tickets of €250k, scaling to €2M for top performers, backed by ICO, IVF, and successful founders. Jorge appeared on the itnig podcast to talk about the new fund
• The European Investment Fund (EIF) and Spain's CDTI invested €30M in Montana Children's Health Fund, managed by Ship2B Ventures. Montana is a fund specialized in transforming pediatric deep-tech research into clinical solutions
• Next Tier GVC Gaesco, an AI-focused venture capital fund launched by GVC Gaesco and Next Tier Ventures, secured €9.5M from Spain's digital transformation agency SETT. The fund targets 30-35 B2B AI startup investments across Europe, US, and Latin America, with a €50M investment goal
• Andalucía TRADE launched €58.8M in public venture capital funds, 62% more than previous programs. The initiative includes two lines: €9.8M for startups and €49M for expansion-stage companies. Fund managers can apply until mid-February
• Personnel moves:
• Armilar welcomed Darío Villena as Principal to strengthen its presence across Spain
• Spanish investors active abroad:
• Agomab, the Belgian biotech backed by Banc Sabadell-supported fund Asabys, filed for a Nasdaq IPO. Asabys holds under 10% after investing €38M in 2022 and participating in a €95M round in 2023
• Faraday Ventures participated in the €4M round of Belgian startup Dripl

Startup news 💡

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New startups and product updates

• Crescenta launched its first hedge fund, Crescenta Multistrategy Private Equity Access, targeting €10-15M to provide diversified exposure to private equity through Growth, Real Assets, and Buyouts strategies. It is available to retail and professional investors from €10k minimum investment
• Omnia launched its public API, enabling teams to integrate the platform's visibility and citation data with their own systems, dashboards, and CRMs
• Francisco Martínez launched TuCuento, an interactive storytelling app that enables parents and children to collaboratively create stories by choosing characters and making decisions together to shape their adventures. As Paco explained on Twitter, it was mostly a vibe coded project
• Italian legal AI startup Lexroom will launch its services in Spain in mid-February, marking its first international expansion. The company raised €16.2M in Series A funding in September with participation from Spanish VC Acurio Ventures

Startup financials

• Doofinder, the Spanish e-commerce search engine technology company serving 12,000+ clients across 85 countries, has initiated preparations for its first external funding round after a decade of bootstrapped growth. The company generated €20M in revenue in 2024 with ~€5M EBITDA and seeks a valuation above €200M for a majority stake sale
• Barcelona-based travel insurance broker Heymondo reached €70M in premiums in 2025, up 75% YoY, following US fund JC Flowers' investment
• Housfy closed 2025 with €45M annualized revenue and €7M EBITDA after acquiring 12 local real estate agencies. The Barcelona-based proptech manages 4,896 communities and covers the full housing lifecycle
• Immfly, the Barcelona-based startup developing in-flight connectivity and entertainment technology, is exploring a potential sale after a previous attempt failed to materialize. The company grew revenues 25% to €38M in 2024 and generated €1.1M in pre-tax profits. Immfly was valued at around €200M in 2023
• Civitatis, the travel experiences startup, announced plans to expand aggressively in Latin America with 30% growth projected for 2026. The company operates three regional hubs in Mexico, Brazil, and Argentina, employing 70 of its 360 staff there

Profile of companies

• Ramensoft, founded by three former Factorial executives including ex-CTO Pau Ramon as CEO, is the company behind Fika. Fika uses AI to support writers with content correction, audio/video formatting, and translation, rather than generating content. With 110 active blogs in December, Fika will introduce monetization features in January

Other news

• After 12 years as CEO, Alejandro Artacho stepped down from Spotahome to pursue new ventures. Eduardo Garbayo, the company's sales and operations director since 2019, takes over as CEO. More from Artacho here
• Cala AI released the second video in their documentary series about building an AI infrastructure startup. The uncut episode features co-founders Elisenda Bou and Issey Masuda explaining knowledge graphs, agentic search, and information retrieval technologies that power their product
• Revolut appointed Santiago Pérez Olano, former CEO of remittance firm Remitly's European operations, as the new country manager for Spain
• French cyber insurtech Stoïk closed a €20M Series C round co-led by Impala and Opera Tech Ventures to accelerate expansion, particularly in Spain

Big company news 🏦

• KPMG launched Startup Connect, a new program targeting Spanish startups across all growth stages. The consulting firm hired former N26 Spain GM Marta Echarri as external advisor to strengthen ecosystem connections. The initiative offers specialized audit, consulting, legal, and operational services to founders, funds, family offices, and accelerators
• Aragón president Jorge Azcón highlighted the region's transformation into a major tech hub ahead of February 8 elections, citing over €75B in new investments
• Bizum posted a 13% increase in transactions to 1.24B operations in 2025, moving €67.7B (+53%)

Interesting reads 🤓

• I did not know that iLovePDF -a service I’ve used tons of times to compress PDF files- was created created in 2010 by Barcelona student Marco Grossi for a school project. iLovePDF has grown to 150M monthly visits, ranking as the 34th most-visited website globally
• Javier Martínez Gilabert, CIO of Murcia, published “¿Y si ardiera la Administración?”