Last Wednesday, February 18 Marc García, co-founder & CEO at Viuing, was interviewed at the 2nd CEO talks of the year, organized at itnig by our colleagues from Delvy Law & Finance.

Below you can find the video of the interview, which was conducted in Spanish by Josep Navajo, lawyer and co-founder at Delvy.

About Marc García and Viuing:

Marc García describes himself as “an entrepreneurial spirit with a determined attitude and passionated about my job”.

But before launching his own business, Marc worked for two big corporations: 8 years at Ferrovial as sales area manager, and almost 9 years at Yamaha as coordinator of water vehicles, recreational vehicles and power products.

When asked about these experiences, Marc assess them very differently: “At Ferrovial I was very junior. I stayed because they offered me to lead a project — Don Piso — and I mainly learned about dealing with customers. But Yamaha was my top job experience”.

At Yamaha Marc learned how to design, evaluate and re-allocate budgets, and how to manage teams in a multinational environment. And during a F1 race, he and his co-founder, Sergio Palomino, had the idea of Viuing: “Standing at the grandstands we realized that we were actually missing most of the race, and we came up with the idea of a device we called Viuing”.

After that, he left his job because “I was a risk lover, as I guess all entrepreneurs are, who deeply believed in his project”. But, what is most important, Marc knew there was a market for his product!

And in October 2013, Viuing was born: a device for attendants to major events so they can see everything that is going on, even if it happens outside their field of vision. “Viuing is a way to maximize your experience”, says Marc.

Although the product is focused on motor sports’ events, because of the number of attendants, their needs, and for reasons of advertising investments, Marc knows the device can be used in many other events, like big music festivals or even for broadcasting a mass of the Pope.

And as you probably already know, early this year and with only 1 year of life, Viuing managed to close its first round of investment of €700K, which will allow them the “go to market” during 2015.

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VCs come into action — Breakdown of Spanish investment activity of January 2018

January closes with €195.3 million investments in Spanish startups within 24 operations

  • The Spanish entrepreneurial ecosystem is maturing thanks to investment rounds of more than €10 millions.
  • Barcelona and Madrid continue leading the Spanish ecosystem.

This is the first in a series of posts in which we will do an analysis of the Spanish startup investment landscape. We will look at the overall funding numbers and trends in the country month by month and compare it with data of the previous year.

What are the Spanish investment activities like on a month to month basis? What deals and volumes are we talking about? At what stages are startups prone to search investment and which regions in Spain attract the most funding?

The year 2017 brought us plenty in terms of innovation and investment activity within the area of technological startups, although Spain has been driven by political problems. The developments we have seen in 2018 so far are picking up at just the same fast pace.

January has closed with €195.3 million investments in Spanish startups within 24 operations. Of these funding rounds, highlights are the round of Cabify, Hawkers and Redpoints :

  • Cabify: The ride-hailing app that competes against Uber, has raised €143.3 million ($160) Series E funding round from a mix of previous and new investors, including Rakuten Capital, TheVentureCity, Endeavor Catalyst, GAT Investments, Liil Ventures and WTI, as well as prominent local investors from Spain and Latin America.

When analyzing the structure of financing deals, the increase in venture capital activity in Jan-18 is noticeable in comparison with Jan-17.

#Deals and volume in the Spanish startup investment landscape in January

In terms of the number of deals closed, we have seen a slight downward trend in the country. With a broad participation of Venture Capital, there have been less deals but more capital invested in each transaction. The reason for such a boost is mostly the gigantic financing round of Cabify with participation of giants’ VCs like Rakuten Capital, TheVentureCity and others.

The entry of European, American and Japanese funds investing in Spanish startups are accounting for a large percentage of the growth of the investments in Spain. At the same time, this global investment rise is making the average value of the financial rounds soar up to more than 1.5 times that of the previous year (without taking account of Cabify’s investment, that would turn this factor to more than 6 times the previous year)

The differences between January-2017 and January 2018 in terms of the increase in venture capital activity is shown below:

Startup investment deals by size of round

As we expected to see, the number of operations closed by investment size tends to a larger number in larger deals. While the number of deals of €500k or less have decreased considerably, the number of larger deals have gone up notably. This might be understood as an increasing number of companies maturing and reaching later stages of funding.

To properly ensure the aforementioned, in the following figure we show the breakdown of the investment activity by year of foundation of the company:

Startup investment activity (Jan-18) by year of foundation

Our previous statement is reinforced by this figure. The large transactions take place on established companies. In general, the more years a startup survives, the more established it is. As we observed, in average, the startups that were previously founded are those who raised more funding. That makes sense because normally an older startup has a bigger team and unless it has reached breakeven, it will need more funds to survive.

Startup investment deals by Region

Regarding the breakdown of startup investments by region, Barcelona, Madrid and Valencia bolster their position in the top of Spanish regions:

  • Cataluña (mostly in Barcelona) stands with 9 deals closed and an investment of €19 millions
  • Madrid gathers 7 deals and an investment of €148 million (€143 million in Cabify)
  • Valencia up to 3 deals and €23 million (€20 million in Hawkers)

Operations January 2018: