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Seaya's €300M Fund Taps Spain's Climate Expertise

Madrid-based venture capital firm Seaya has seized on Spain's climate challenges to launch a groundbreaking €300M fund
July 5, 2024

In a significant milestone for Spain's tech landscape, the enterprise value of Spanish startups surged past €100 billion in 2023, according to a recent Dealroom report. Building on this momentum, Madrid-based VC firm Seaya has launched the Seaya Andromeda fund, a €300 million initiative aimed at fostering climate-tech innovation under the EU's Sustainable Finance Disclosures Regulation Act.

Founded by Beatriz González, Seaya has long championed mission-driven startups across Europe and Latin America. The Andromeda fund marks a strategic pivot towards sectors critical for environmental sustainability, including energy transition, decarbonization, sustainable food chains, and the circular economy.

Seaya plans to deploy between €7 million and €40 million per investment, with a focus on scaling companies poised to make lasting impacts in climate technology. González highlighted Spain's strategic advantage in tackling climate challenges, citing the country's expertise in renewable energy and industrial manufacturing.

"We've seen the effects of climate change firsthand in Southern Europe, which has heightened social awareness and spurred innovation," González noted. "Our proximity to these challenges positions us uniquely to drive solutions."

The fund has already made strategic investments in companies like Seabery, which pioneers AR solutions for emissions-reducing training in welding, and Recycleye, an AI-powered waste management startup based in the UK. These investments underscore Seaya's commitment to leveraging deep-tech expertise to address pressing environmental concerns.

The launch of the Seaya Andromeda fund coincides with a broader resurgence in Southern European tech funding, exemplified by recent initiatives like Plus Partners in Barcelona. As Spain solidifies its position as a tech hub, backed by robust startup funding and strategic investments, the stage is set for continued growth and innovation in the region's tech ecosystem.

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