Mime-Version: 1.0 Content-Type: multipart/alternative; boundary="567aabe1e78fc75c49897748f1c289eab4c8303b127b8ccf135e980131d7" Subject: =?UTF-8?q?Dealflow.es_#420:_Data_centre_galore._Capchase's_=E2=82=AC105m.?= =?UTF-8?q?_credit_facility._3_new_VC_funds.?= From: Dealflowes Newsletter To: Hidden Recipient Date: Mon, 27 May 2024 05:41:51 +0000 X-Hiring: We are hiring, reach out at header-hacker@emailshot.io X-EmailShot-Signature: hVKZ7npp2akQ9aI6_Dq90kx5OAS4MIIN44W3Wf9aLzokWAMa1DCJfJ9df0gnMMomd0cbv4NNT9p5-OdV8zpHog== --567aabe1e78fc75c49897748f1c289eab4c8303b127b8ccf135e980131d7 Content-Type: text/plain; charset="utf-8" Content-Transfer-Encoding: quoted-printable View this post on the web at https://newsletter.dealflow.es/p/dealflowes-42= 0-data-centre-galore Welcome to another edition of the Dealflow.es: a weekly summary of everythi= ng that=E2=80=99s happened in the Spanish startup and tech investing ecosys= tem. My name is Jaime Novoa and I=E2=80=99m a partner at Kfund. I spend the vast= majority of my time investing in early stage startups as part of Kfund [ h= ttps://substack.com/redirect/e3a991d5-a85d-408d-9bba-7f7cc869c188?j=3DeyJ1I= joiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]. We make invest= ments of =E2=82=AC100k to =E2=82=AC10m. If you want to chat, drop me an ema= il at jaime@kfund.vc This is a free newsletter supported by sponsors [ https://substack.com/redi= rect/80c7cd0b-3f45-49eb-bae4-d387aebcfb5d?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2= oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]. If you=E2=80=99re interested in sponso= rship opportunities, drop me an email at jaime@dealflow.es This week=E2=80=99s newsletter is sponsored by AWS: At the AWS Startup Loft, you'll have the opportunity to connect with some o= f Spain's most innovative and rapidly growing startups and scaleups, includ= ing Glovo, Cabify, Jobandtalent, Fever, Rated Power, Cobee, and Copado. Joi= n us to network, learn from investors and leaders of other startups, scaleu= ps, and unicorns. The Startup Loft will feature tailored startup sessions, from building gene= rative AI architectures to leveraging AWS for accelerated go-to-market stra= tegies, and conclude with networking at the Founders Bar by Automat-IT, whe= re you=E2=80=99ll be able to meet investors and fellow startups attending t= he AWS Summit Madrid. Book your spot for June 5 [ https://substack.com/redi= rect/f70d808d-432c-4819-83b3-2492e9ddc8c1?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2= oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]th [ https://substack.com/redirect/f70d8= 08d-432c-4819-83b3-2492e9ddc8c1?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-= i2X0JnCEslPprQ2lVE73SdM ] here [ https://substack.com/redirect/f70d808d-432= c-4819-83b3-2492e9ddc8c1?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnC= EslPprQ2lVE73SdM ]. Startup funding news=C2=A0=F0=9F=92=B8 Capchase [ https://substack.com/redirect/5e50bd0b-bc53-4e59-ac49-8e07c87ffc= 15?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] sec= ured a =E2=82=AC105m credit facility [ https://substack.com/redirect/bd127a= 5f-0d73-4ae7-884e-673d40781a19?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i= 2X0JnCEslPprQ2lVE73SdM ] led by Deutsche Bank. This latest funding adds to = more than $1 billion in joint debt and equity financing received since bein= g founded just 4 years ago. More info here [ https://substack.com/redirect/= e761dc43-d4fb-4256-b14b-5f2171ff1512?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6js= f13k-i2X0JnCEslPprQ2lVE73SdM ] Huspy [ https://substack.com/redirect/7f34a20e-aa84-4b9f-b511-532a56db9658?= j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ], a Dub= ai-based real estate company, raised a $37m Series A led by Balderton. The = company has more than 400 employees, 100 of which are based in Madrid. The = company offers end-to-end home buying and selling services in the United Ar= ab Emirates and Spain (where it launched in 2022). More info here [ https:/= /substack.com/redirect/57e7aaa7-d2d2-4a5e-a337-b27cf57ecf3e?j=3DeyJ1IjoiNGk= za2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] Andalusian startup Zinkee [ https://substack.com/redirect/37b0874e-57e9-426= d-a5e2-9e47ce908230?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPp= rQ2lVE73SdM ] has raised =E2=82=AC1.9m [ https://substack.com/redirect/44a0= f973-0f93-462b-9c28-a3e9457b8e28?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k= -i2X0JnCEslPprQ2lVE73SdM ] in a new funding round led by Athos Capital. Zin= kee's no-code platform simplifies SME management and allows the creation of= work apps without programming knowledge Other rounds of funding: CDTI backed Voovio [ https://substack.com/redirect/ca61d6f2-ad17-4261-97be-= e7bc238608eb?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE7= 3SdM ], previously funded by Moira Capital Partners Biotech company Ownmed [ https://substack.com/redirect/bf54101d-ff18-4984-9= 526-19ceb7bbbb98?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2= lVE73SdM ] raised =E2=82=AC630k M&A news =F0=9F=9A=80 BD Capital has initiated a takeover bid [ https://substack.com/redirect/576= 3645f-d29f-44f1-8729-f6bed213a586?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13= k-i2X0JnCEslPprQ2lVE73SdM ] for the Galician edtech company Netex, valuing = the company at =E2=82=AC65m (25% more than Netex=E2=80=99s value in the BME= Growth). more than 65 million euros. Netex did =E2=82=AC23m in sales last = year, up 14% YoY PayRetailers [ https://substack.com/redirect/6bca6414-64dd-4515-9612-f13b06= 1711e3?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]= , a fintech company based in Barcelona that focuses on payment operations i= n Latin America, has acquired Transfeera [ https://substack.com/redirect/eb= 1f2f48-d805-4b43-b486-8141a9a11695?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf1= 3k-i2X0JnCEslPprQ2lVE73SdM ], a regulated payment company in Brazil. The sp= ecific amount of the deal has not been disclosed Investor & accelerator news =F0=9F=9A=80 Arcano is partnering [ https://substack.com/redirect/22266900-a722-4bb1-989= 2-587ce44d23ed?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lV= E73SdM ] with Urizen Ventures, led by Adyemi Ajao (co-founder of Cabify and= also of VC firm Base10) and Tj Nahigian, to launch a $200m venture capital= fund. The fund's focus will be on investing in US technology companies 4Founders Capital has started raising capital for its third fund of =E2=82= =AC65m [ https://substack.com/redirect/ba0475a9-726f-40e9-ad18-ca1e73996541= ?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]. The = first closing is expected to take place by the end of the year, with the fi= nal closing in 2025 Beka Finance launched [ https://substack.com/redirect/0d809914-64e6-407a-8f= bf-4638c5a79972?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2l= VE73SdM ] the TFTL Foodtech Fund I, a new =E2=82=AC50m VC fund aimed at rev= olutionizing the agrifood industry in Europe and Israel International activity of Spanish funds: Samaipata paticipated [ https://substack.com/redirect/cfe1ceff-41b9-4286-9b= b5-012080122dcd?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2l= VE73SdM ] in the =E2=82=AC15m Series A round of Nory, a Dublin-based hospit= ality company, where it was already an investor LifeX led [ https://substack.com/redirect/f0dc2c7b-8c97-49d1-9dc7-cfaf8f643= 7c8?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] a = =E2=82=AC6.2m round in Swiss biotech firm Limula Not a Spanish fund, but Propel (the investment arm of BBVA with headquarter= s in the US), led [ https://substack.com/redirect/4bc250cc-f18a-4c86-89ca-2= 37f9e456872?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73= SdM ] a $7m round in Chilean fintech startup Fintoc Cayetana Hurtado, from Balderton Capital, launched [ https://substack.com/r= edirect/dcb9a005-7790-43b6-8fd4-a7f2a5b4a26c?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLa= bi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] her executive coaching practice work= ing with founders, CEOs and investors Startup news =F0=9F=92=A1 More than 80% of unicorns run on AWS*. Come discover why at the A= WS Summit Madrid on June 5th at IFEMA. Meet some of Spain=E2=80=99s most in= novative startups and scaleups, networking with founders and investors at t= he Founders Lounge, and build your own agenda from the +100 sessions availa= ble. Book your spot here [ https://substack.com/redirect/f70d808d-432c-4819= -83b3-2492e9ddc8c1?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPpr= Q2lVE73SdM ] Javi Lopez and Emilio Nicolas, founders of Magnific, appeared in two podcas= t interviews this week, on the Itnig [ https://substack.com/redirect/c0492c= 58-6c04-4500-859d-5e99c76b3d48?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i= 2X0JnCEslPprQ2lVE73SdM ] and SeedRocket [ https://substack.com/redirect/a8f= 366dc-1680-4788-9be9-54bb3637f816?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13= k-i2X0JnCEslPprQ2lVE73SdM ] show. They talked at length about the acquisiti= on, growth of the company and also provided some interesting numbers on the= company=E2=80=99s traction before the acquisition. One of the most interes= ting things they share is the fact that in the exit they did not negotiate = for a specific price, but for a multiple of revenue, signaling to how fast = the company was growing and their confidence that they could keep that grow= th trajectory Avi Meir, CEO of TravelPerk, states in an interview [ https://substack.com/= redirect/a5a33944-23c8-4b94-88c7-7f7b5f955719?j=3DeyJ1IjoiNGkza2oifQ.Av1IjL= abi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] that the startup has no plans to go= public and highlights the availability of money for companies with real cu= stomers and a clear path to profitability. Meir also mentions TravelPerk's = focus on implementing AI in their corporate travel platform and their healt= hy growth. Additionally, he comments on the importance of business travel a= nd rejects the idea that it will disappear in the post-pandemic world More trouble in the solar panel sector: SolarProfit suffered a significant financial setback in 2023 [ https://subs= tack.com/redirect/072b2958-e26a-4f11-ae69-ec315128f784?j=3DeyJ1IjoiNGkza2oi= fQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ], reporting a loss of =E2= =82=AC37m. This substantial loss has severely impacted the company's liquid= ity, raising concerns about its financial stability. The company's financia= l health has been under scrutiny, with auditors previously warning about th= e potential difficulties in collecting payments from various entities Holaluz is facing new financial challenges with upcoming maturities in July= [ https://substack.com/redirect/ef11aa74-bb88-4df5-b468-e7a97b7045d7?j=3De= yJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] and has yet= to secure the necessary financing. This situation raises concerns about th= e company's ability to manage its financial obligations and maintain stabil= ity amidst these pressures Also, Holaluz is experiencing a severe crisis exacerbated by a significant = customer exodus [ https://substack.com/redirect/ef11aa74-bb88-4df5-b468-e7a= 97b7045d7?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73Sd= M ]. The electricity retailer lost over 65,000 customers in the first half = of 2023, dropping from 283,930 to 218,104 Crescenta has surpassed its initial fundraising goals [ https://substack.co= m/redirect/38061115-88eb-4bf3-99c7-4dfdcbe42a57?j=3DeyJ1IjoiNGkza2oifQ.Av1I= jLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] for its two inaugural private equ= ity funds within two months of their launch in February. The targets for th= e Crescenta Private Equity Buyouts Top Performers I and Growth Top Performe= rs I funds have been increased from =E2=82=AC20m to =E2=82=AC35m and from = =E2=82=AC15m to =E2=82=AC25m, respectively, to meet high demand Meal subscription servicer Wetaca now serves over 100 companies in Spain [ = https://substack.com/redirect/48a24e1a-5a0d-4640-865b-41908b7131c3?j=3DeyJ1= IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]. Launched in 2= 021, their B2B service allows businesses to offer meals to employees, with = flexible funding options ranging from 0% to 100% The Spanish startup Brickken has been selected to participate [ https://sub= stack.com/redirect/1ce3e9f5-d3a1-4303-9ba9-c00dfd07142e?j=3DeyJ1IjoiNGkza2o= ifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] in PwC's Scale Digital As= sets program. Brickken offers real-world asset tokenization services and ha= s tokenized over $200 million in 14 jurisdictions Despite the aviation sector's [ https://substack.com/redirect/cca58706-4595= -4d19-a7f5-4d28424151b0?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCE= slPprQ2lVE73SdM ] challenges for startups, innovative companies like Renace= n and Smartvel are succeeding through unique solutions like 3D seat selecti= on and AI-driven travel content. Startups such as DeuSens, Bob, ClimateTrad= e, and Caravelo also thrive by offering VR training, off-airport baggage ch= eck-in, carbon offset marketplaces, and travel subscription models, partner= ing with major airlines to enhance industry operations This article [ https://substack.com/redirect/ecbe2e2a-c354-4cd4-90a8-a4b2de= 3e693c?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]= highlights 15 Spanish AI startups to follow in 2024 Company profiles: Clikalia [ https://substack.com/redirect/d79db659-a1a8-41b8-9b5e-9af1a06f11= 6e?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]: pr= optech SesameHR [ https://substack.com/redirect/8f4a7675-533b-4492-b000-0752ee7545= d9?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]: HR= software GranVoyage [ https://substack.com/redirect/200c5c7e-4788-48d3-bd4d-f826f3ba= 585d?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]: = travel tech Getting to meet the Growth leaders that have grown top companies like Skysc= anner, Dropbox, Freepik or Cabify is a once in a lifetime opportunity. Get = your ticket before prices go up on=C2=A0 [ https://substack.com/redirect/6e= b87048-9a14-447c-a2d8-f7390947dd1c?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf1= 3k-i2X0JnCEslPprQ2lVE73SdM ]31/5 [ https://substack.com/redirect/6eb87048-9= a14-447c-a2d8-f7390947dd1c?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0J= nCEslPprQ2lVE73SdM ]=C2=A0with the exclusive discount=C2=A0 [ https://subst= ack.com/redirect/6eb87048-9a14-447c-a2d8-f7390947dd1c?j=3DeyJ1IjoiNGkza2oif= Q.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]PH-DEALFLOW [ https://substa= ck.com/redirect/6eb87048-9a14-447c-a2d8-f7390947dd1c?j=3DeyJ1IjoiNGkza2oifQ= =2EAv1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ]. Big company & policy news =F0=9F=92=A1 Amazon Web Services (AWS) plans to invest =E2=82=AC15.7b [ https://substack= =2Ecom/redirect/4fdeb242-53c1-4a78-946= 5-c3264854d255?j=3DeyJ1IjoiNGkza2oifQ.A= v1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] in its three data centers in A= ragon, Spain, creating 6,800 new jobs. This investment is 6x larger than th= e original plan announced in 2021. AWS aims to support local businesses and= contribute to the region's economy, estimating a yearly equivalent of 17,5= 00 full-time jobs and a 21.6 billion euro contribution to Spain's GDP by 20= 33. More info here [ https://substack.com/redirect/42254dba-2da9-4b67-a904-= 60b10f59ceba?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE7= 3SdM ]. Two of the main needs data centres have are land and proximity of c= heap energy sources. Aragon has both. This article [ https://substack.com/r= edirect/1826ad7d-293c-4854-afc5-a7b52efe27de?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLa= bi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] wonders =E2=80=9CLos centros de dato= s se multiplican en Espa=C3=B1a: =C2=BFHabr=C3=A1 energ=C3=ADa para todos?= =E2=80=9D La Caixa, through its financial arm CriteriaCaixa, plans to double its stak= e in Telef=C3=B3nica [ https://substack.com/redirect/00da4c9c-d351-41b7-b36= b-6590abc5e963?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lV= E73SdM ] from 5% to 10%, matching the Spanish government's ownership. The i= ncrease, requiring an additional investment of approximately =E2=82=AC600m,= seeks to maintain La Caixa's influence and ensure stability in the telecom= munications company. Google declares revenues [ https://substack.com/redirect/33ace909-bf8c-4b86= -b25e-d5212715b6e6?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPpr= Q2lVE73SdM ] of =E2=82=AC262m in Spain and pays =E2=82=AC17m in corporate = taxes. Most of the services are billed from Ireland, which reduces the tax = bill. Although the declared figure is lower than the actual business, it re= flects a 23% growth compared to the previous year. The company has 529 empl= oyees in Spain and is searching for a new CEO for the region =C3=8D=C3=B1igo Barea, General Director of Just Eat Spain, highlights [ htt= ps://substack.com/redirect/a0dbbac7-6941-46cf-a4ae-fb3050fba743?j=3DeyJ1Ijo= iNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] the challenges th= at the company faces in Spain due to the competition (Glovo) that continues= to use autonomous riders despite being illegal. El Pais published [ https:= //substack.com/redirect/e72fa29f-6bc0-475a-bfb4-7d4682241c61?j=3DeyJ1IjoiNG= kza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] an analysis of the s= ector, highlighting the lack of profitability of many of the companies oper= ating in it, as well as the fact that Stuart and others have recently decid= ed to shut down operations in Spain BBVA has partnered with OpenAI [ https://substack.com/redirect/15299165-ca4= e-478b-a02a-e29b12778316?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnC= EslPprQ2lVE73SdM ] to utilize ChatGPT's APIs for market analysis and decisi= on-making. The bank will not exclusively use ChatGPT and is considering oth= er AI tools as well Cani Fernandez, President of the National Commission of Markets and Competi= tion (CNMC), highlights [ https://substack.com/redirect/b7ea4bcf-3771-4c43-= 89df-ffd51a9dc61b?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ= 2lVE73SdM ] the importance of protecting the innovative potential of SMEs a= nd startups against tech giants Indra has selected Citi and AZ Capital as financial advisors for the sale p= rocess of Minsait [ https://substack.com/redirect/4503f140-5e83-4927-988d-8= a6b1eb8ef2e?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73= SdM ], the technology division of the group Interesting reads =F0=9F=A4=93 Ram=C3=B3n Blanco, co-founder of Indexa Capital and Bewater Funds, publishe= d [ https://substack.com/redirect/06492030-4962-45ed-84fd-00b103a2579b?j=3D= eyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM ] =E2=80=9C= =C2=BFEs conveniente tener deuda 0 en la empresa?=E2=80=9C. Ram=C3=B3n Blan= co also appeared [ https://substack.com/redirect/f8f65bb1-4a4d-42c4-834e-26= fc2230445c?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73S= dM ] in the Product Hackers podcast Podcasts =F0=9F=94=88 Kfund interviewed [ https://substack.com/redirect/f13ebe57-6fcb-47fa-9441-b= f2746509171?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73= SdM ] Carlos Alonso-Torras, partner at Fintech Collective Historias de Crecimiento interviewed [ https://substack.com/redirect/5f31e4= 16-8949-42ad-af8b-434c6d28f045?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i= 2X0JnCEslPprQ2lVE73SdM ] Maxence de Damas, co-founder of Filtroo Thanks for reading Dealflow.es Newsletter! Subscribe for free to receive ne= w posts and support my work. Unsubscribe https://substack.com/redirect/2/eyJlIjoiaHR0cHM6Ly9uZXdzbGV0dGV= yLmRlYWxmbG93LmVzL2FjdGlvbi9kaXNhYmxlX2VtYWlsP3Rva2VuPWV5SjFjMlZ5WDJsa0lqbz= NOVFl5T0RrNUxDSndiM04wWDJsa0lqcHVkV3hzTENKcFlYUWlPakUzTVRZM09EZzFNakFzSW1WN= GNDSTZNVGN4T1RNNE1EVXlNQ3dpYVhOeklqb2ljSFZpTFRVME5qWWlMQ0p6ZFdJaU9pSmthWE5o= WW14bFgyVnRZV2xzSW4wLlE3VnI2a0M3M3BvUWxFOWRla1FmdFpUSzV3TzQtTW15VEplVjY1LS1= FclUmZXhwaXJlcz0zNjVkIiwicCI6MTQ0OTM4NjExLCJzIjo1NDY2LCJmIjp0cnVlLCJ1Ijo3NT= YyODk5LCJpYXQiOjE3MTY3ODg1MjAsImV4cCI6MTcxOTM4MDUyMCwiaXNzIjoicHViLTAiLCJzd= WIiOiJsaW5rLXJlZGlyZWN0In0.rlnFNA8ta8hAsg_1MwBz653u9hwDQDk3o293GEsc4F8? --567aabe1e78fc75c49897748f1c289eab4c8303b127b8ccf135e980131d7 Content-Type: text/html; charset="utf-8" Content-Transfer-Encoding: quoted-printable Dealflow.es #420: Data centre ga= lore. 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#420 edition of the Dealflow= ES newsletter
͏     ­͏     ­͏=     ­͏     ­͏     ­= ͏     ­͏     ­͏    = ­͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= 47;     ­͏     ­͏     &s= hy;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏  = ;   ­͏     ­͏     ­͏=     ­͏     ­͏     ­= ͏     ­͏     ­͏    = ­͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= 47;     ­͏     ­͏     &s= hy;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏  = ;   ­͏     ­͏     ­͏=     ­͏     ­͏     ­= ͏     ­͏     ­͏    = ­͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= 47;     ­͏     ­͏     &s= hy;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏  = ;   ­͏     ­͏     ­͏=     ­͏     ­͏     ­= ͏     ­͏     ­͏    = ­͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= 47;     ­͏     ­͏     &s= hy;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏  = ;   ­͏     ­͏     ­͏=     ­͏     ­͏     ­= ͏     ­͏     ­͏    = ­͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= 47;     ­͏     ­͏     &s= hy;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏  = ;   ­͏     ­͏     ­͏=     ­͏     ­͏     ­= ͏     ­͏     ­͏    = ­͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= 47;     ­͏     ­͏     &s= hy;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏  = ;   ­͏     ­͏     ­͏=     ­͏     ­͏     ­= ͏     ­͏     ­͏    = ­͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= 47;     ­͏     ­͏     &s= hy;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏  = ;   ­͏     ­͏     ­͏=     ­͏     ­͏     ­= ͏     ­͏     ­͏    = ­͏     ­͏     ­͏   &= #8199; ­͏     ­͏     ­͏ &n= bsp;   ­͏     ­͏     ­= 47;     ­͏     ­͏     &s= hy;͏     ­͏     ­͏   Q= 99; ­͏     ­͏     ­͏  = ;   ­
<= td>
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Dealflow.es #420: Data centre galore. Capchase's €10= 5m. credit facility. 3 new VC funds.

#420 edition of the= DealflowES newsletter

 = ;

Getting = to meet the Growth leaders that have grown top companies like Skyscanner, D= ropbox, Freepik or Cabify is a once in a lifetime opportunity. Get your ticket before prices go up on 31/5 with the exclusive discount PH-DEALFLOW.

Big comp= any & policy news 💡

Amazon Web Se= rvices (AWS) plans to invest €15.7= b in its three data centers in Aragon, Spain, creating 6,800 new = jobs. This investment is 6x larger than the original plan announced in 2021= =2E AWS aims to support local businesse= s and contribute to the region's econo= my, estimating a yearly equivalent of 17,500 full-time jobs and a 21.6 bill= ion euro contribution to Spain's GDP by 2033. More info here. Two of the main needs data centres have are land and proxi= mity of cheap energy sources. Aragon has both. This art= icle wonders “Los centros de datos se multiplica= n en España: ¿Habrá energía para todos?̶= 1;

La Caixa, through its= financial arm CriteriaCaixa, plans to double its stake= in Telefónica from 5% to 10%, matching the Spanish governme= nt's ownership. The increase, requiring an additional investment of approxi= mately €600m, seeks to maintain La Caixa's influence and ensure stabi= lity in the telecommunications company.

Google declares revenues of &= #8364;262m in Spain and pays €17m in corporate taxes. Most of the se= rvices are billed from Ireland, which reduces the tax bill. Although the de= clared figure is lower than the actual business, it reflects a 23% growth c= ompared to the previous year. The company has 529 employees in Spain and is= searching for a new CEO for the region

&= #205;ñigo Barea, General Director of Just Eat Spain, highlights the challenges that t= he company faces in Spain due to the competition (Glovo) that continues to = use autonomous riders despite being illegal. El Pais pu= blished an analysis of the sector, highlighting the lack of profi= tability of many of the companies operating in it, as well as the fact that= Stuart and others have recently decided to shut down operations in Spain

BBVA has partnered with OpenAI to utilize ChatGPT's APIs for marke= t analysis and decision-making. The bank will not exclusively use ChatGPT a= nd is considering other AI tools as well

= Cani Fernandez, President of the National Commission of Markets and Competi= tion (CNMC), highlights the importance of protecting the innovative potential of SMEs and = startups against tech giants

Indra has selected Citi and AZ Capital as financial advisors for the <= /span>sale process of Minsait, the technology divisi= on of the group

In= teresting reads 🤓

Ramón Blanco, co-founder of Indexa Capital and Bewater Funds, published “¿Es conveniente tener d= euda 0 en la empresa?“. Ramón Blanco also appeared in the Product Hackers podcast

Podcasts 🔈

Kfund interviewed Carlos Alonso-Torras, partner at Fintech= Collective

Historias de Crecimiento interviewed Maxence de Damas, co-founder of Filtroo

=

Thanks for reading Dealflow.es Newsletter! Subscribe for free to receiv= e new posts and support my work.

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Welcome to another edit= ion of the Dealflow.es: a weekly summary of everything that’s happene= d in the Spanish startup and tech investing ecosystem.

My name is Jaime Novoa and I’m a partner at Kfund. I = spend the vast majority of my time investing in early stage startups as par= t of Kfund. We make investments of €100= k to €10m. If you want to chat, drop me an email at jaime@kfund.vc

This is a free newsletter <= a href=3D"https://substack.com/redirect/80c7cd0b-3f45-49eb-bae4-d387aebcfb5= d?j=3DeyJ1IjoiNGkza2oifQ.Av1IjLabi2oN6jsf13k-i2X0JnCEslPprQ2lVE73SdM" rel s= tyle=3D"color: hsl(203.5294117647059, 83.6065573770492%, 40%); text-decorat= ion: none;">supported by sponsors. If you’re interested in = sponsorship opportunities, drop me an email at jaime@dealflow.es

This week’s newsletter is sponsored by AWS:

=
<= /div>

At the AWS Startup Loft, y= ou'll have the opportunity to connect with some of Spain's most innovative = and rapidly growing startups and scaleups, including Glovo, Cabify, Jobandt= alent, Fever, Rated Power, Cobee, and Copado. Join us to network, learn fro= m investors and leaders of other startups, scaleups, and unicorns.

The Startup Loft will feature tailore= d startup sessions, from building generative AI architectures to leveraging= AWS for accelerated go-to-market strategies, and conclude with networking = at the Founders Bar by Automat-IT, where you’ll be able to meet inves= tors and fellow startups attending the AWS Summit Madrid. Book your spot for June 5th here.

St= artup funding news 💸

€105m cre= dit facility led by Deutsche Bank. This latest funding adds to mo= re than $1 billion in joint debt and equity financing received since being = founded just 4 years ago. More info here

Huspy, a Dubai-based rea= l estate company, raised a $37m Series A led = by Balderton. The company has more than 400 employees, 100 of which are bas= ed in Madrid. The company offers end-to-end home buying and selling service= s in the United Arab Emirates and Spain (where it launched in 2022). More i= nfo here

Andalusian star= tup Zinkee has raised €1.9m in a new funding round led by Athos C= apital. Zinkee's no-code platform simplifies SME management and allows the = creation of work apps without programming knowledge

Other rounds of funding:

    <= li style=3D"margin: 8px 0 0 32px; mso-special-format: bullet;">

    CDTI backed= Voovio, previously funded b= y Moira Capital Partners

  • Biotech company O= wnmed raised €630k

M&A news 🚀

BD Capital has initiated a= takeover bid for the Galician edtech company Nete= x, valuing the company at €65m (25% more than Netex= 217;s value in the BME Growth). more than 65 million euros. Netex did ̈́= 4;23m in sales last year, up 14% YoY

PayRetailers, a fintech company based in Barc= elona that focuses on payment operations in Latin America, has acquired Transfeera, a regulated payment company in B= razil. The specific amount of the deal has not been disclosed

Investor & accelerator news= 🚀

Arcano is partnering with Urizen Venture= s, led by Adyemi Ajao (co-founder of Cabify and also of VC firm Base1= 0) and Tj Nahigian, to launch a $200m venture capital fund. The fund's focu= s will be on investing in US technology companies

4Founders Capital has started raising capital = for its third fund of €65m. The first closing is expected t= o take place by the end of the year, with the final closing in 2025<= /p>

Beka Finance International activity of Spanish funds:

  • Samaipata paticipate= d in the €15m Series A round of Nory, a Dublin-based hospit= ality company, where it was already an investor

  • LifeX= led a €6.2m round in Swiss biotech fir= m Limula

  • Not a Spanish fund, but Propel = (the investment arm of BBVA with headquarters in the US), led a $7m round in Chilean fintech startup Fintoc

Cayetana Hurtado, from Bal= derton Capital, launched her executive coachi= ng practice working with founders, CEOs and investors

Startup news 💡

<sponsor> More than 80% of unicorns run on= AWS*. Come discover why at the AWS Summit Madrid on June 5t= h at IFEMA. Meet some of Spain’s most innovative startups and scaleup= s, networking with founders and investors at the Founders Lounge, and build= your own agenda from the +100 sessions available. Book= your spot here </sp>

J= avi Lopez and Emilio Nicolas, = founders of Magnific, appeared in two podcast= interviews this week, on the Itnig and SeedRocket show. They talked at length about the a= cquisition, growth of the company and also provided some interesting number= s on the company’s traction before the acquisition. One of the most i= nteresting things they share is the fact that in the exit they did not nego= tiate for a specific price, but for a multiple of revenue, signaling to how= fast the company was growing and their confidence that they could keep tha= t growth trajectory

Avi Meir, CEO of TravelPerk, states in an = interview that the startup has no plans to go public= and highlights the availability of money for companies with real customers= and a clear path to profitability. Meir also mentions TravelPerk's focus o= n implementing AI in their corporate travel platform and their healthy grow= th. Additionally, he comments on the importance of business travel and reje= cts the idea that it will disappear in the post-pandemic world

More trouble in the solar panel sector:

  • SolarProfit suffered a = significant financial setback in 2023, reporting a loss of €= ;37m. This substantial loss has severely impacted the company's liquidity, = raising concerns about its financial stability. The company's financial hea= lth has been under scrutiny, with auditors previously warning about the pot= ential difficulties in collecting payments from various entities

    =

  • Hol= aluz is facing new financial challenges with upcoming maturities in July and has yet to secure the nec= essary financing. This situation raises concerns about the company's abilit= y to manage its financial obligations and maintain stability amidst these p= ressures

  • Also, Holaluz is experiencing a= severe crisis exacerbated by a significant customer ex= odus. The electricity retailer lost over 65,000 customers in the = first half of 2023, dropping from 283,930 to 218,104

Crescenta has su= rpassed its initial fundraising goals for its two inaugural priva= te equity funds within two months of their launch in February. The targets = for the Crescenta Private Equity Buyouts Top Performers I and Growth Top Pe= rformers I funds have been increased from €20m to €35m and from= €15m to €25m, respectively, to meet high demand

Meal subscription servicer Wetaca now serves over 100 companies in Spain. Launched in 2021, their B2B service allows businesses to offer meals to= employees, with flexible funding options ranging from 0% to 100%

The Spanish startup Brickken has been selected to participate in = PwC's Scale Digital Assets program. Brickken offers real-world asset tokeni= zation services and has tokenized over $200 million in 14 jurisdictions

Despite the avia= tion sector's challenges for startups, innovative compan= ies like Renacen and Smartvel are succeeding through unique solutions like = 3D seat selection and AI-driven travel content. Startups such as DeuSens, B= ob, ClimateTrade, and Caravelo also thrive by offering VR training, off-air= port baggage check-in, carbon offset marketplaces, and travel subscription = models, partnering with major airlines to enhance industry operations

This article hig= hlights 15 Spanish AI startups to follow in 2= 024

Company profiles:

 
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