Encomenda’s Seven Initial Investments Totaling €1.5M

Encomenda, led by investor Carlos Blanco, has launched its investment activities for 2024 by allocating €1.5 million to seven early-stage technology startups. This move marks the first series of investments from the company’s second venture capital fund, Encomenda II. The fund aims to reach a size of €40 to €50 million, focusing primarily on the Spanish startup market, while also considering investments in Southern European and Latin American companies.

Out of the seven companies that inaugurated this fund, six are Spanish, with one hailing from France. The selected startups include:

1. Cüimo: A marketplace offering services related to motorcycles, including appraisal and transfer management.
2. Mitte: A software for parking management that integrates various market applications and payment methods.
3. Illumo Robotics: A French-based startup developing robotics software that employs artificial intelligence and virtual reality to enhance order preparation in logistics and commerce.
4. Ezpays: Founded by Spaniards and headquartered in London, this fintech simplifies the collection of recurring payments directly from customers’ bank accounts.
5. Evolbe: Offers a management software for retail businesses, centralizing processes and people management.
6. Ecostars: A sustainability certification and environmental impact management software for the hotel industry.
7. Zinkee: A platform designed to facilitate the digitalization of small and medium-sized enterprises (SMEs).

The selection of these startups follows a rigorous analysis process by the Encomenda II team, which reviewed over 900 startups over a period of nine months. Mercè Tell, partner and operations manager at Encomenda, highlighted the depth of this evaluation process.

Notably, Encomenda’s partners have a history of successful investments in companies like Glovo, Deporvillage, Userzoom, Holded, Citibox, Housfy, Kantox, GOI, Meller, Payflow, Signaturit, and Trucksters, all of which are established businesses with significant growth potential.

This investment strategy, with a focus on innovative tech startups, aligns with Encomenda’s objective to add value to its portfolio companies, leveraging the experience and success of entrepreneurs like Javier Darriba in B2B and Saas sectors. The current investments by Encomenda represent a strategic step towards fostering technological innovation and growth within the dynamic startup ecosystem in Spain and beyond.