👉 Friendly reminder that we now have Dealflow Data, where all of 2026’s funding rounds and exits are visible and searchable.
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Join us in person at Tinglados to catch up on the latest Gemini updates and announcements from recent weeks. Discover firsthand how to deploy advanced models and agentic AI in real-world scenarios, connect directly with industry experts, and learn how leading companies are already transforming their operations.
The agenda is designed for all profiles: the morning session will focus on business strategy with real success stories, while the afternoon will feature a developer-focused session with live technical demos on building agents with Gemini. Since capacity and seats are limited, reserve your spot before it sells out!
Startup funding news 💸
Very few funding announcements last week:
Tenoro, an Argentinian and Spanish AI operating system for retail, raised a €1.7M seed round led by Plus Partners, with Bynd, Soldiers Field. The company has surpassed €1M in ARR in Mexico
M&A news 🎊
Indra acquired a 30% stake in Spanish cybersecurity company TRC, with an option to purchase the remainder within two years. TRC employs more than 400 people and generated over €120M in 2025 revenue. The transaction is subject to CNMC approval.
Barcelona-based Adsmurai acquired Italian marketing agency Ciaodino, adding 30 employees and clients
OfiPro, an A Coruña-based invoicing and accounting software company, was acquired by French company
M&A in cybersecurity: Aiuken Cybersecurity acquired 4Elitech, a specialist in industrial cybersecurity, critical infrastructure and IoT. Sources valued the deal at around €20M
Startup news 💡
Company and product launches:
Submer launched Corenix, a subsidiary providing custom modular infrastructure for AI data centres. Corenix website here
Omnia launched Omnia Agent on Product Hunt, an AI agent that automates generative-engine optimisation
Philippe Gelis, co-founder of Kantox (acquired by BNP) is now building Kronopoly. “Invest like the ultra wealthy in a passive way”. Philippe published “2.680 new millionaires every day!”
Lucas García de Viedma, an Exponential fellow, launched Mailtag, a privacy-focused tool that automatically organises email using categories described in natural language
Alinia AI introduced Seny, a compliance-focused base model that supervises AI agents in regulated industries. More info here
Researchers from IDIBELL, the Barcelona Supercomputing Center and ISGlobal developed ChromAgeNet, an AI model that detects ageing in blood stem cells
Startup financials:
Bytetravel, the Barcelona travel-tech company, doubled first-half revenue to €14.8M, while adjusted EBITDA quadrupled to €1.8M. Growth was driven by its eSIM business
Didit, an identity-verification startup from Y Combinator’s Winter 2026 batch, grew revenue 64x in 15 months while remaining profitable
Wetaca partnered with BM Supermercados to sell prepared meals in 70 stores around Madrid. Wetaca did €21.5M in revenue last year
Other news:
Interview with Pablo Palafox, co-founder of HappyRobot, and Alberto Granados, president of growth and expansion. The company currently has around 100 employees in Spain
French fintech Qonto opened its first Madrid office, complementing its office in Barcelona hub with around 300 employees. Spain is one of its 4 largest markets
ObsessionDB joined Y Combinator’s Fall 2026 batch. Co-founded by Spaniard Andres Monteoliva, they’ve built a real-time data warehouse for AI agents
Indexa Capital appointed GVC Gaesco to find institutional buyers for 6.06% of its capital. The sale is intended to lift free float above the 10% threshold needed to move to Spain’s continuous market before the end of 2026
Canadian legaltech group Clio turned vLex’s Barcelona headquarters into its global hub for legal AI after acquiring the Catalan company last year for more than €850M
Investor news 🤑
Barlon Capital, led by Javier Rubió and Dídac Lee, launched a new €100M fund, 2x the size of its previous vehicle. The fund will target mainly Spanish consumer startups
Plus Partners, the pre-seed fund launched by Enrique Linares and Oriol Juncosa, increased its fund to €50M from an initial €40M target
Ecotechers published an analysis of SETT and CDTI’s growing role in Spain’s startup ecosystem. The two public institutions committed more than €1.5B to VC funds in 2025
Ecotechers also published an analysis of Atresmedia’s decade-long investment in Fever. It invested almost €29M and generated approximately €295M in proceeds, an average return of around 10x
Spanish investors active abroad:
Kembara (Mundi) did the 2nd investment out of its €1B fund: Reverion, a German developer of reversible solid-oxide fuel-cell power plants. Kembara led a $175M Series B led by Kembara
Masia invested in Hop Aero, as part of an $11M seed round led by Initialized Capital. The company is building an autonomous hypersonic cargo rocket
Complaion, an Italian startup compliance startup backed at pre-seed by us at Kfund as well as Enzo, raised a €13.5M round led by Eurazeo and Italian Founders Fund
Big company & policy news 🏢
Mercadona increased average revenue per store by almost 50% since 2020. Physical-store sales reached €40.8B and online revenue rose by 6x to €1.7B
LaLiga asked the European Commission to add services including NordVPN, ExpressVPN, Surfshark and Proton to the EU’s Counterfeit and Piracy Watch List
Spain’s Congress rejected the decree that included the Cuenta Financia Europa, a proposed investment account that would have allowed up to €150k to be invested in EU stocks, funds and ETFs with tax incentives
Tesla’s Model 3 became Spain’s best-selling car in September, the 1st time ever tha an EV has achieved the milestone
Bizum, Italy’s Bancomat, Portugal’s MB Way, Vipps MobilePay and Wero agreed to create the Madrid-based European Network of Payments
Interesting reads 🤓
Joshua Novick (Bondo Advisors) published “Ni tú vendes a €32M, ni yo compro a €40M”.
Luigi Mallardo published “Before You Scale, Know What You’re Scaling”.
Julio Ribes (founder of Holaglow and previously Swipcar) published “Dejo de ser CEO de Holaglow: lo que he aprendido construyendo un negocio de retail”