Spain’s capital is not just about history and culture, it is also about the future, as these 14 start-ups prove.
Madrid is one of Europe’s largest population centres and, just like London and Berlin, it has a thriving start-up scene.
Home to the headquarters of one of the world’s biggest telcos, Telefónica, Madrid also has more than 17 universities and 30 research centres.
As start-up scenes go, Madrid has a vibrant ecosystem characterised by a range of communities and ecosystems, including: Tetuan Valley, Guiripreneurs, InterNations, Impact Hub and Wayra meet-ups. There is also the Madrid Venture Café and annual events including Zinc Shower for audiovisual and cultural start-ups, the South Summit and Salón MiEmpresa.
And here are our picks of the Madrid start-ups to watch in 2018.
Billin provides cloud software for small businesses to help them manage their invoicing. It is used by more than 10,000 companies and professionals, and has processed more than €100m worth of invoices. Founded by Diego Goya Quijano and Marcos de la Cueva, Billin recently raised $1.5m in a round led by Kibo Ventures and K Fund.
Cabify is Madrid’s answer to Uber and Mytaxi. The company’s sphere of influence is Spain, Portugal and Latin America. It recently raised $100m in an investment round from previous investors including Rakuten, Seaya Ventures and AngelList.
Drone Hopper is a heavy-duty drone designed to provide aerial support for firefighting wildfires. It can transport and nebulise up to 300 litres of water. It can also be used for pest control and crop management.
— etece.es (@etece_es) April 6, 2017
A TaskRabbit-style platform focused on the gig economy, Etece is an online job portal for professional service providers, for “people who need a job doing but don’t have the time to do it themselves”. Founded in late 2012 by Ramón Blanco, the company recently raised a Series D round, bringing total funding to date to €1.3m.
Jobandtalent has developed a mobile-focused platform that reduces the need for traditional hiring and interviewing practices. On a mission to disrupt the recruitment sector, the company was founded by Felipe Navío, Juan Urdiales and Tabi Vicuña. Jobandtalent last year raised $42m in a Series B round led by Skype founder Niklas Zennström’s Atomico.
— Indexa Capital (@IndexaCapital) December 13, 2017
Indexa Capital is a fintech player that promises greater potential returns on investment and lower commissions due to automation. Indexa was founded by Francois Derbaix, Ramón Blanco and Unai Anseo in 2015, and recently raised €1m from Pedro Luis Uriarte, Cabiedes & Partners, Viriditas Ventures, Fides Capital and Luis M Viceira.
— Influencity (@influencity) December 4, 2017
Influencity allows brands to connect with more than 4m influencers around the world to create influencer marketing campaigns. Founded in 2014 by Alberto Villar, Daniel Sánchez and Francisco Castillo, the company has set up offices in New York. Brand clients include MTV, Just Eat, Sony and Uber.
Previously known as Monkimun, Lingokids was founded by siblings Cristobal and Marieta Viedma, and offers language lessons for kids between two and six in the form of interactive games. The lessons are built using Unity 3D and run on Android and iOS. The company recently raised $4m in a funding round led by Holtzbrinck Ventures and JME Venture Capital, with participation from Bessemer Venture Partners, Sabadell Venture Capital and Big Sur Ventures. The company also raised pre-seed funding from 500 Startups.
Logtrust is a big-data company that offers real-time analytics across large enterprise IT systems. Founded by Pedro Castillo, Logtrust was recognised as a Gartner Cool Vendor last year. In October, Logtrust raised $35m in a Series B round led by Insight Venture Partners and Kibo Ventures.
OnTruck has created an on-demand logistics platform that connects businesses directly with road freight carriers. Founded in 2016, OnTruck is on a mission to disrupt the logistics business, one of the last bastions of traditional industry in need of digital disruption. Founded by Antonio Lu, Gonzalo Parejo Navajas and Iñigo Juantegui, OnTruck recently raised $10m in a Series A led by Atomico and Idinvest Partners.
Seedtag is an adtech player that integrates advertising into online images. This offers publishers a new source of revenue. Seedtag was founded in 2014 by Albert Nieto and Jorge Poyatos, and recently raised €2m in a round from Spanish, French and Brazilian investors, bringing overall funding to date to €3.9m.
— Francesc (@francesc) November 10, 2017
Claiming to be building the first AI that understands code, Sourced is a recruitment start-up that helps to find developers by sourcing code from more than 17m software repositories and 6.6m developers worldwide. Founded by Eiso Kant, Jorge Schnura and Philip von Have, Sourced has raised $6m in funding to date, including a $4m funding round last year.
Spotahome is about revolutionising the real-estate sector by taking the process 100pc online. Founded in 2014 by Alejandro Artacho, Bruno Bianchi, Bryan McEire and Hugo Monteiro, Spotahome is focused on the mid- to long-term letting market for apartments, and has generated €60m total contract value for landlords. Spotahome recently closed a €13.6m Series A round from investors including Passion Capital, Nordic Makers, Samos Investments and Mexico Ventures, bringing its total funding raised to date to €20.7m.
Focused on the future of online reputations, Traity was created by alumni of Seedcamp and 500 Startups in Europe. Traity aims to create a world where people can trust each other online through the creation of a reputation standard or passport. Founded by Borja Martín, José Ignacio Fernández and Juan Cartagena, Traity has raised $4.7m to date and has established offices in Silicon Valley.
Updated, 4.57pm, 15 December 2017: This article was updated to clarify Logtrust’s business model and to replace a tweet from its account with a video.
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