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Startup funding news 💸

• €5M+ rounds
• Nu Quantum, the UK quantum computing startup founded by Spanish physicist Carmen Palacios-Berraquero, secured €9.75M from the Spanish government as part of a $60M Series A round. The Cambridge spinout will establish its first subsidiary outside the UK in Spain, creating 30-40 specialized jobs
• €1M to €5M rounds
• MITO AI raised $4.5M in pre-seed funding led by Lightspeed Venture Partners for its AI video production platform. Kfund also participated in the deal, as well as Kibo Ventures and other angels and firms. The startup helps filmmakers storyboard, organize, and generate AI assets through integrations with Runway, Veo 3, and Pika. More info here. Iñaki Berenguer, co-founder and CEO, wrote a out the launch here
• Warden, a startup co-founded by Spaniard Luis Vaello, closed a $4M strategic funding round at a $200M valuation from infrastructure partners including 0G, Messari, and Venice.AI. Warden is an AI-powered cryptocurrency wallet and trading platform that describes itself as an "Agentic Wallet."
• STAMP raised €4M in funding led by Dozen. The Madrid startup digitizes VAT refunds by applying tax benefits directly at point of sale, eliminating traditional post-purchase reimbursement processes
• BigGuardian closed a €1.5M funding round led by Swanlaab Innvierte Agrifood-Tech. The precision veterinary startup develops IoT-based continuous monitoring platforms for livestock body temperature to enable early detection of infectious diseases in cattle and pigs
• TetraxAI, an AI-powered B2B SaaS platform transforming due diligence and risk management in renewables, closed a €1.2M pre-seed round led by The Footprint Firm
• AI-powered vocational guidance platform for schools Growth Road closed a €1M funding round led by Archipelago Next VC and Dozen Investments
• Other rounds of funding:
• AI-powered recruitment startup NovaHiring closed a €350k pre-seed round led by Solvo Global and Angels Capital
• Navarra-based Opportunity Health raised €334k to develop Yarnasa, an automatic choking intervention device
• iMeureka, an insurtech startup specializing in tech solutions for the insurance sector, closed a corporate operation with two investment firms acquiring 20% of the company

M&A activity 🎊

• After holdout investors including fund 14W finally accepted the offer following legal challenges, South Korean tech giant Naver has completed its acquisition of Wallapop for €600M. The deal values the Barcelona-based secondhand marketplace below its 2024 valuation of €806M
• Urbanitae completed a secondary transaction, selling a 5% stake for €10M to institutional investors including family offices and real estate developers, reaching a €200M valuation. We (Kfund) have been investors in Urbanitae since the very beginning and they continue to deliver on their promise
• “How a Small Spanish OTA Scooped Up 2 UK Travel Brands 50 Times Its Size”. A story about Destinia, the Madrid-based OTA with just €7.5M revenue, that recently acquired Travel Republic and Netflights from Emirates Group’s dnata
• Barcelona-based startup CareerOS acquired Norwegian company Highered to create a unified global career platform for students and universities
• Busup acquired Spanish mobility-as-a-service startup IOMOB and signed a strategic partnership with corporate carpooling specialist Tribbu to expand its corporate mobility platform

Investor & accelerator news 🚀

• Suma Capital launched its third SC Expansión fund, targeting €200M after its predecessor raised €160M post-pandemic. Suma Expansion’s previous funds invested in the likes of Tradeinn
• Former Popular Party president Pablo Casado registered Hyperion‘s asset management firm with Spain’s CNMV after his defense-focused VC fund exceeded expectations. The fund, which raised €150M in 2024, plans to launch a second pan-European fund of at least €500M by Q4 2026
• In 2025, Enisa granted 514 participatory loans totaling €86.2M to Spanish innovative SMEs
• Spanish funds active abroad:
• Nina co-led a seed round in US-based healthtech Navidence
• Paris-based GoCanopy raised €2.1M in pre-seed funding from Yellow, among others

Startup news 💡

New startups and product updates

• New companies:
• Temos AI launched by Sergi Gomez and Xavier Riba-Anglada to automate manual regulatory processes in the energy sector through AI agents, targeting outdated workflows that remain inefficient across energy companies
• Prudencia.ai launched its AI platform designed specifically for lawyers and law firms, attracting over 250 legal professionals to its limited free version
• New products:
• Endor Labs released Rover 2.0, an open source tool for managing and automating AI coding agents like Claude Code, OpenAI Codex, and Gemini CLI
• I missed this in December! Soraia Lima launched MiroMiro, a Chrome extension that extracts website assets in one click, including colors, fonts, images, icons, SVGs, Lottie animations, and CSS styles. The tweet got 2.3M views
• Co-founder Gerard Clos shared that Latitude moved upmarket by replacing its free tier with a 30-day trial and launching new plans at $300/month and $900/month. While self-serve volume dropped, demo-to-paid conversion increased substantially
• YepCode launched Yep Agent, a new “build it for me” feature that generates runnable JavaScript or Python automation processes from natural language descriptions
• Other news:
• Enginy.ai (formerly Genesy) rebranded to continue to address chaos in sales teams

Startup financials

• Internxt, the digital privacy and secure cloud services company, achieved positive EBITDA and over 100% net revenue growth in 2025. Internxt targets €10M annual revenue in 2026
• Tutrocito, a Spanish custom furniture startup founded in 2020, expects to reach €6-7M in revenue for 2025, up from €4.8M in 2024. The company employs 35 people and produces 50-70% of its furniture in-house

Profile of companies

• Impress, the Barcelona-based dental startup, has treated over 250k patients since launching in 2019. The orthodontic company operates 110 in-person clinics across Europe and uses an AI-enabled app to deliver treatment, positioning itself as a major player in the digital health sector.
• Profile of Pangea Propulsion, the aerospace startup (founded in 2018) developing rocket and satellite engines focused on efficiency, reusability, and greener fuels

Other news

• The way VTC works in Barcelona is nuts. Anti-innovation playbook. Bolt Spain director Daniel Georges criticized Catalonia’s new VTC law requiring 2-hour advance booking, warning it could cut on-demand mobility by 25% and collapse Barcelona’s transport during tourism peaks
• Crescenta hired Elisa de Molinedo as Head of Legal. She was previously at Santander

Big company news 🏦

• Telefónica launched a national edge computing network with 17 nodes across Spain to meet growing AI and cloud demand. The telco deployed 10 active nodes in major cities and plans 7 more by year-end. The project uses €100M in EU funds and leverages existing facilities as mini data centers, offering low-latency AI capabilities and data sovereignty for enterprises

Interesting reads 🤓

• EU-Startups highlighted 10 promising Spanish startups founded in 2024-2025, Notable companies include Accountable (€8.2M raised, fintech verification), Biorce (€8.5M, AI clinical trials), Lookiero (€17M, fashion e-commerce), Murphy AI (€12.6M, debt collection), and Zynap (€11.7M, cybersecurity).
• Latitude published “AI Is a Force Multiplier and a Price Compressor”
• Pablo Hansen, co-founder of Proliferate, wrote about how he rejected an 8-figure acquisition offer and convinced Lovable to become his design partner
• “I left my own startup to not become my father”. Factorial co-founder and former CTO Pau Ramon shared his personal story of leaving the company to become a stay-at-home dad. Pau chose family over the “founders don’t quit” mentality. After two years focused on family, he recently launched Ramensoft using proceeds from selling Factorial shares.
• Javi Santana (Tinybird) published “Programador”
• Jorge Galindo (Predictable Machines) published “How to improve your productivity by 200% in just 9 months”
• Two articles about Clawbot (now OpenClaw): Samuel Gil (JME) published “El momento Clawdbot (ahora OpenClaw) y el futuro del trabajo”, and David Bonilla, wrote “La semana de la langosta”