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💶 Fundraising, early-stage impact startups in Spain


Spanish flag and EU flag / fifty euro bill wrapped around a growing plant
Credit: David Vives & Anne Nygard, Unsplash.

The Spanish, early-stage impact startups that are fundraising, including the tech sectors green tech, deep tech, clean tech, ag tech, bio tech and ocean tech. Continuously updated. NOTE TO FUNDRAISING EARLY-STAGE IMPACT STARTUPS IN SPAIN: If you want to be included in this post, send us an email and elaborate on why please.


So far included in alphabetical order: Bio2Coat, Blowind, Cimico, Clinpify, Enkitek, Frontwave Imaging, Gate2Brain, Innogando, Lumio, Ocean Ecostructures, Poseidona, Powerfultree, Tether, Titanium Technology.

 

Bio2Coat, impact startup led by CEO José Ignacio Velasco


Two Co-founders, Bio2Coat showing their Natural Preservation Technology next to Mango fruits
Images: from Bio2Coat website.

To be part of the solution for reducing food waste, the Ag tech/ food tech, early-stage startup Bio2Coat Natural Preservation Technology offers edible coatings and films for food preservation.


The two co-founders CEO José Ignacio Velasco and Farayde Matta Fakhouri first met at the Universitat Politècnica de Catalunya (UPC) where they started a scientific collaboration back in 2011.


About the meeting, CEO José Ignacio Velasco told Food Ingredients First:

“We immediately identified synergies between our research lines, a complementary background and expertise in food technology and material science and, more importantly, a shared dream of helping our planet by reducing food waste and plastic waste from packaging materials.”


Last year 2022 and this year 2023, they have been announced as the winner in many competitions within the ag tech and food tech space, after having participated in several publicly funded national and international accelerators.


💶 To become market ready, Bio2Coat will be fundraising "in a few months". To be updated.

 

Blowind, impact startup led by CEO Antonio Gutiérrez

Blowind, CEO Antonio Gutiérrez with sons Antonio and Román.
Blowind, CEO Antonio Gutiérrez with sons Antonio and Román.

With the telling name Blowind, this mobility and clean tech startup is reimagining how electric vehicles can get recharged, from Sevilla.

Seemingly a first mover, Blowind manufactures and supplies patented, wind-powered generators to all automotive manufacturers. (not only trucks.)

Their generator is designed to make electric vehicles more self-sufficient by converting kinetic energy from the wind into electricity to charge the vehicle’s batteries during movement.


Thanks to technology based on superconductors, cryogenics and vacuum engineering, it has been possible to create a generator of a smaller size that can generate sufficient energy to continuously recharge the batteries.

The CEO Antonio Gutiérrez is a trained architect and has many years of experience from energy retrofitting of buildings. His broad knowledge in energy efficiency is the foundation for this innovation. 💶 Blowind is fundraising 1.700.000€ to develop their technology to become market ready.

 

Cimico, impact startup led by CEO Ines Larrea Villanueva

Product image / Cimico, CEO Ines Larrea Villanueva.
Cimico, CEO Ines Larrea Villanueva from a video by AgroBank CaixaBank.

This deep tech/bio tech based in San Sebastian, The Basque country, uses biological bacteria to treat wastewater and remove high concentrations of organic matter, nitrogen and phosphorus in urban and industrial plants.


The solutions from Cimico are moving bed biotechnologies called MOBED, supports that are placed in the water so that bacteria grow and consume nitrogen and phosphorus pollutants. Their CEO Ines Larrea Villanueva explains that their technology uses less space and consumes less energy, saving considerable costs for the industry.


The lifespan is said to be: "with normal use in a steel tank it is more than 20 years and more than 15 years in a concrete tank with smooth walls."


They have also developed a mathematical simulation system called Filmath, claimed to be "unique in the world and specific for biofilm technologies." The simulation allows for performing calculations "very close to reality, optimising the design and sizing of the plants" they serve.


It was her father, Luis Larrea Urcola, who encouraged her to join Cimico.

"He is an expert in biological wastewater treatment, and after a long career as a researcher, he was certain that there was a business opportunity but he did not know very well how to make it happen", she says in a recent interview with Gananzia. (translated)


"With our technology, which is patented, we compete with six companies worldwide", she further comments, adding:


"The regulation is tightening, which is expanding the demand for this type of systems."

💶 Cimico is fundraising to cater to the high demand for their tech.

On July 19, 2023 it was announced that Moira Capital, has acquired 30% of Cimico for €7M.

 

Clinpify, impact startup led by CEO Alberto Zarco Santiago



CEO Alberto Zarco Santiago, Clinpify
CEO Alberto Zarco Santiago, Clinpify

This auto tech /green tech claims to be the first AI-guided, robotic car wash.

Clinpify has a patented technology which is said to benefit vehicle owners, car wash operators and the environment.


This impact startup, based in Madrid, states that their technology is capable of washing a vehicle with only 35-40 liters of water, to be compared to the 180-200 liters that a traditional car wash needs. In addition, they integrate photovoltaic technology to provide energy to the machine, saving up to 70% of energy compared to current washing systems.


In an interview with Spanish innovaspain, CEO and co-founder Alberto Zarco Santiago, explains how it works: (translated)


“Our robots are the same as you can find in an industrial manufacturing plant. But instead of taking on a repetitive scheduled task, in our case, every five minutes we have to work with a vehicle that has nothing to do with the previous one. They have different shapes, sizes and characteristics. Our robots, guided by artificial intelligence, are able to adapt to all of these factors.”


He continues:

"The booth itself is developed with 3D printing technology, in a sustainable and efficient production process. The cabin is compact, modular and transportable. It works like a charger. Once it is connected to water and electricity, it starts working."


About the future he says:

“Our estimate is to be on the market in the last quarter of 2025, or in the first quarter of 2026. The idea is to start by launching a short production series of 4 units and reach 116 units in 2027 distributed throughout the national geography. We also intend to reach other European markets and the United States."


💶 Clinpify is fundraising 1 million euros to complete a functional prototype.

Through its finalised proof of concept, they claim that their technology is viable.

 

Enkitek, impact startup led by CEO Víctor Cantón Ferrer


CEO Víctor Cantón Ferrer, Enkitek.
CEO Víctor Cantón Ferrer, Enkitek.

To help feed the global population in 2050, that is a certainly a both commendable and worthwhile long-term goal set up by ag tech Enkitek.


"My passion is change: learning new things, facing new challenges. I'm not afraid of change, I have respect for it. What I'm really afraid of is not changing", the CEO Víctor Cantón Ferrer aptly describes himself.


Founded in 2021 in Barcelona by Victor Canton Ferrer, CEO and Eugeni Llagostera Saltor, a few months later joined by Eric Mora Juan, CTO, the plan is to make vertical crops more profitable by growing more food in less space, using their software.


It's all about vertical farming and hydroponics which is the technique of growing plants using a water-based nutrient solution rather than soil.


"Vertical farms help generate vegetables in less time, while optimizing natural resources. They are also designed to exist within cities by eliminating CO2 from distribution", explains Eric Mora Juan in a post and continues:


"In a sector where the operating cost is currently skyrocketing, we believe that we can help encourage investment in vertical farms thanks to our technology, you will save between 40% and 80% of operating costs thanks to our technology that integrates process management with robotics, IOT sensors and diagnostic AI."


Enkitek’s solution is being tested by six customers/ business partners, bringing an estimated turnover of 92,000 euros for 2023, states an article in Spanish La Vanguardia.


💶 Enkitek has applied for a Spanish innovation loan (Enisa) of 150,000 euros and is now fundraising a matching private investment of 150,000 euros. The funds will be used for accelerating their technology and for marketing and sales, aiming to reach 5M in revenue by 2027.

 

FrontWave Imaging, impact startup led by Susana Castel


FrontWave Imaging team and software for breast cancer detection called UBIware
FrontWave Imaging team and software for breast cancer detection called UBIware

With their software, this bio tech/ deep tech FrontWave Imaging transforms medical ultrasound data into high-resolution images of the breast tissue.


The high-resolution images that are produced with their software, called UBIware, have excellent tissue contrast, making it much easier to detect micro calcifications and precancerous lesions, compared to current diagnostic imaging techniques, to expose breast cancer.


The device and software employs supercomputing, ultrasound data, and advanced algorithms to provide these high-resolution images of the breast. Their technology is a breakthrough especially for women who have dense breast tissue (50% in some countries), while completely avoiding radiation.


The company was founded in 2020 as a spin-off from the Barcelona Supercomputing Center and the Imperial College of London. The co-founders are Susana Castel, CEO, Josep de la Puente, CTO, Lluis Guasch and Òscar Calderón Agudo, CDO.


FrontWave is now preparing for a clinical validation in Q4, 2023 at the Hospital Universitari Vall d'Hebron in Barcelona "where a computerised tomography machine will be installed that will compare the results with classic imaging methodologies such as mammography."


"In 2024, once the clinical research is completed, UBIware will be certified as Medical Device Software (MDSW) Class I, which accredits the obtaining of an optimal medical image of the breast and allows its commercialisation for USCT machines."


💶 Frontwave Imaging is fundraising €600,000 to complete the clinical validation and to secure patents in Europe, the US and China.

 

Gate2Brain, impact startup led by CEO Meritxell Teixidó


Meritxell Teixido, CEO and co-founder, Gate2Brain.
Meritxell Teixido, CEO and co-founder, Gate2Brain.

Based on 15+ years of research, this deep tech/bio tech Gate2Brain has developed a patented technology, based on peptides (small proteins), that enhances drug delivery to the brain. By crossing the biological blood-brain barrier, these peptides secure transportation of drugs to the brain to cure it.


Their flagship product (G2B-002) and proof of concept of the technology, offers a new therapeutic approach with improved biopharmaceutical properties and potent activity against rare paediatric cancers.


More in detail:"therapeutic-peptide shuttle conjugates, are new chemical entities, permeable, non-antigenic, stable, receptor-specific, soluble, non-invasive, and cost-effective products that can cross biological barriers (such as the blood-brain barrier)."


The company is a spin-off from the Universitat de Barcelona (UB), the Institute for Biomedical Research of Barcelona (IRB Barcelona) and the San Joan de Déu Hospitalin Barcelona. It was set up 3 years ago by co-founders Meritxell Teixido, CEO, Gloria Sanclimens Pérez de Rozas, COO and Esther Riambau, Board member.


Meritxell Teixidó was involved in setting up Barcelona's Scientific Park, as the third employee. "Little by little, this developed in IRB Barcelona, (the Institute for Biomedical Research of Barcelona), ​​where I spent 15 years participating in and leading research projects. In the middle of the pandemic, I decided to leave my position to start with Gate2Brain", she says in an interview.


"Currently Gate2Brain's biotechnology is focused on childhood brain tumor, but later it can also be applied to other pathologies, not only in oncology and not only in children but also in adults", it is stated in a recent interview.


They have received a grant of 2,5M€ from The EIC Accelerator, the European Innovation Council, to further develop their flagship product, G2B-002 which is currently in regulatory, preclinical development for paediatric brain tumors with intact BBB.


After the clinical trial, the product is said to be mature to be licensed out to pharmaceutical companies, to further develop it to the market.


💶 Gate2Brain is fundraising a co-investment of 2M€ to complement the EIC Grant and reach the clinical trial for their asset in 2026. They are also open to a bigger round (5-10M€) for interested parties in the clinical trial.

 

Innogando, impact startup led by CEO Elio López García


Innogando co-founders Elio López García and Daniel Pardo Rus out on their green land next to a cow showcasing their connected sensor.
Innogando co-founders Elio López García and Daniel Pardo Rus.

From Galicia, cofounders Elio López García, farmer and veterinarian, and Daniel Pardo Rus, software engineer, have developed battery-free, wearable sensors for cows - and for other animals - to keep track of their daily habits and health status.


Innogando, an Ag tech company behind the solution, claims that they have developed the most advanced animal monitoring system that exists on the market.


Their product is called RUMI, a digital technology to monitor the health status of cows initially. It remotely tracks their cows' movements, and non-movements, when just relaxing and chewing grass, or ruminating, hence the name.


The placement for the wearable sensors - automatically recharged with sunlight - depends on the animal. It can be placed on the tail, in an ear or around the neck of a cow. (see image)


Today the company has a team of 16 people with 350 customers in Spain and in Portugal and are currently monitoring 3,000 animals. They have started testing their solution in South America and soon also in Ireland.

💶 Innogando is confirmed to be fundraising.

 

Lumio, impact startup led by CEO Alexis Las Heras Gahinet

Lumio Co-founders María de Santiago, Alexis Las Heras, Pablo Manchón.
Lumio Co-founders María de Santiago, Alexis Las Heras, Pablo Manchón.

Behind this clean tech startup is the three cofounders María de Santiago Olalquiaga, CMO, Alexis Las Heras Gahinet, CEO and Pablo Manchón Aroca, CTO. They launched Lumio in Madrid three years ago in 2020 and has since then experienced a rapid growth journey.

With more than 1500 users in Spain, their peer-to-peer (P2P) platform makes it possible to share - as in sell or donate - surplus renewable energy generated from solar panels.


They also do installations of solar panels but since that space is very crowded in Spain their competitive edge is the sharing of surplus part.

"You can share your surpluses with one or more supply points (second home, business, family, friends, etc.)", according to their FAQ.

💶 Lumio is fundraising €1,5 million to develop the platform and expand to Portugal and France.

 

Ocean Ecostructures, impact startup led by CEO Ignasi Ferrer Pellicer

Bio Boosting System (BBS) regeneration technology in the ocean /Co-founders, Ocean Ecostructures.
Bio Boosting System (BBS) regeneration technology in the ocean /Co-founders, Ocean Ecostructures.

Ocean Ecostructures is an ocean tech, based in Barcelona, co-founded by CEO Ignasi Ferrer Pellicer, Chief Science Officer Anna Lloveras Armengol and Chief Operating Officer Mireia de Mas Romeu.

Thanks to their Bio Boosting System (BBS) regeneration technology that attracts microfauna, added to a proprietary "versatile life skin" made of natural material, they transform concrete in the ocean into bio-regenerative structures.

Their solution reshapes the docks in ports, one recent example in the port of Tarragona, into active agents for the recovery of marine flora and fauna.

Other applications are wind parks or just about any lifeless concrete structure submerged in the oceans. "From grey to blue" as their tagline reads.

With the iOceans digital monitoring system and a tracking app, the evolution of environmental benefits is possible to share with local citizens.

Already 3 months after the installation, the company claims to have attracted many kinds of marine fauna to live on the enhanced infrastructure and marine species to interact with it.


💶 Ocean Ecostructures is fundraising. To be updated with amount and purpose.

 

Poseidona, impact startup led by Sònia Hurtado


CEO and founder Sònia Hurtado, Poseidona
CEO and founder Sònia Hurtado, Poseidona

As an active proponent of the circular economy the Ag tech Poseidona, based in Barcelona, develops sustainable proteins from algae residues and biomass to create "the tastiest, mouth watering food products."


The CEO and founder Sònia Hurtado has experience from Silicon Valley where she co-founded Current Foods. For more than 15 years, she has been working in different areas of the food industry, especially within R+D and marketing.


She writes that she is particularly interested in new food concepts within sustainability, health and ethics, while being on a personal mission to "save the animals using food science."


Poseidona is "committed to provide the food industry with alternative proteins that are truly sustainable and help to restore the ocean." Their purpose is to "contribute to create a better world where the ethics prevail over any other topic, and respecting and protecting the earth is the only possible way."


Their motto sums it up beautifully: Nourishing the people, healing the ocean.


💶 Poseidona is fundraising their pre-seed round of €500.000, (€270.000 already committed). Powerfultree, impact startup led by CEO Imanol Olaskoaga


Powerfultree CEO Imanol Olaskoaga / agrivoltaics.
Powerfultree CEO Imanol Olaskoaga. Credit: Local news channel.

Have you heard about agrivoltaics? This circular economy approach means that solar energy farms and traditional farms for crop cultivation can collaborate to optimise use of land, instead of historically competing for the available land.


Installing raised solar panels, to leave room for the crop to grow, naturally costs more than ground-mounted ones though. In addition, every land and crop have different needs and costly build-arounds and tailor-made solutions for the local farming community are typically not attractive for investors.


Meanwhile countries worldwide are looking at new ways to best keep and nurture cultivable lands as well as how to meet demand for renewable energy, including solar.


The Ag tech startup Powerfultree in the Basque country seems to have timed this growing market demand well and provides solutions to design, develop and install agrivoltaic parks that cater to the needs of all parties involved. Founded in 2021, they are led by CEO Imanol Olaskoaga and was recently chosen by Repsol to participate in their one-year accelerator.


"Our engineering team is responsible for studying in detail each specific case (type of crop, soil, climatology, location, radiation, etc.) to provide solutions that help improve harvests, develop precision agriculture and obtain extra income from the production of clean energy", they claim.


With their tech partner they have added digital capabilities such as crop- and weather monitoring to the different systems they offer.


"Big Data technology is playing a crucial role in the monitoring and management of agrovoltaic energy systems. By using sensors and connected devices, we can obtain real-time data on energy production, crop yield and environmental conditions", comments Juan Manuel Erum, Managing Director at Erum Dynamic Solution. 💶 Powerfultree is fundraising for a €700k participative loan (€300k already subscribed).

 

Tether, impact startup led by CEO Luis Medina Rivas


Tether co-founders Luis Medina Rivas and Martim Perestrelo.
Tether co-founders Luis Medina Rivas and Martim Perestrelo.

Cars are parked 95% of the time. With this data in mind, the CEO Luis Medina Rivas, came to the realisation that these idle cars could be used to generate green energy. Together with his co-founder Martim Perestrelo they founded Tether, a clean tech based in Barcelona.


With a background as a Solar design engineer at General Electric he had experienced frustration about the huge amount of solar projects that didn't get built because of grid instability concerns, when the economics for batteries did not make sense.


"I had found the batteries we are looking for!", he exclaims in a recent pitch. "Tether creates software that connects to electric vehicle chargers and vehicles that are parked all throughout the city, and by simply coordinating when they charge and when they don't charge, we are able to become a backup for the electric grid, and get paid by the grid operator for doing so", he summarises in the same pitch.


To become part of the Tether network, the car-owners register and connect.


Tether then shares part of the revenues with the EV charger operators and the Original Equipment Manufacturer, OEM's so everyone seemingly wins.


They have just closed a Proof of Concept (PoC) collaboration with AUDI AG.


Jointly, the two co-founders have 4 masters in renewable energy and the company seems to have a strong team from renowned companies.


💶 Starting in September 2023, Tether is fundraising.

 

Titanium Technology, impact startup led by CEO Alejandro Samaniego Miracle

Titanium Technology, CEO Alejandro Samaniego Miracle / biofouling product image.
Titanium Technology, CEO Alejandro Samaniego Miracle.

As a surfacing startup in the blue economy, this deep tech/ ocean tech Titanium Technology uses electrochemistry on titanium surfaces to prevent biological growth (called biofouling), without any polluting impact to the environment.


This way, their patented technology eliminates the need for traditional and toxic cleaning methods, using chemical substances that are damaging the oceans.


In 2019, CEO Alejandro Samaniego Miracle founded Titanium Technology in Madrid. He is a Doctorate Qum laude in Advanced Chemistry and holds two masters; MA in Chemical Science and Technologies (UCM) and MA in Chemical Industry Management (CESIF), and two degrees; BA in Chemistry and BA Materials Engineer.


💶 Titanium Technology is fundraising 1.5 million euros to provide the necessary guarantee for one of the grants they are awaiting and the rest to co-finance the project.

 

NOTE to reader: All companies have been selected by Caroline Lagergren, founder Expand To Spain, without any outside interference, based on what kind of innovation and people drive actual societal change for the better. We also try to dig up the lesser-known diamonds.


--> To get updates on continuously added impact startups that are fundraising in Spain, make sure to subscribe to our newsletter here.





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