Cap Table
The percentages below are shown on a fully diluted (FD) basis, including the ESOP phantom shares pool. Total exceeds 100% because the ESOP represents additional equity-equivalent instruments that dilute all shareholders proportionally if exercised.
Distribution
Summary
| Stakeholder group | % (FD) |
|---|---|
| Founders (5) | 69.60 |
| Business angels and investors | 30.40 |
| ESOP phantom shares | 7.78 |
| Total (fully diluted) | 107.78 |
Founders
| Name | % (FD) | Position |
|---|---|---|
| Andy Aguilar | 21.23 | CEO & Co-founder |
| Alfonso Medela | 21.23 | Chief AI Officer & Co-founder |
| Taig Mac Carthy | 21.23 | COO & Co-founder |
| Gerardo Fernández | 3.41 | CTO & Co-founder |
| Antonio Martorell, MD | 2.50 | Chief Medical Officer & Co-founder |
| Total founders | 69.60 |
Business Angels and Investors
Reflects the post-seed 2024 cap table (€2.035M seed round closed Q4 2024).
| Name | Company | % (FD) |
|---|---|---|
| Victor Zambrana | Mutua Ventures SAU (lead seed 2024) | 10.13 |
| José Miguel Peris | Angels Capital SLU | 2.81 |
| Alberto de Rosa | Ribera Salud Tecnologías SLU | 2.81 |
| Adrián Gorricho | Kunsen Inversión-20, S.L. | 2.27 |
| Fernando Ibáñez | Biozell Ventures SL | 2.25 |
| Paloma Castellano | Telefónica Open Innovation SLU | 2.25 |
| Iñigo Ugarte | Ieteam Legit Health S.L. | 1.48 |
| Mayr Alcaine | Yarkel Ventures, S.L. | 1.17 |
| Adrián Gorricho | Kunsen Ventures, S.L. | 1.14 |
| Miguel Sánchez | ADN Global Research SL | 1.11 |
| Unai Carmona | Coben Business Group, S.L. | 0.68 |
| José Luis Fernández | Copernica Sinergias S.L. | 0.68 |
| Ricardo Ruiz | Skin Logic, S.L. | 0.40 |
| José Luis Fernández | — (individual) | 0.33 |
| Tomás Merina | — (individual) | 0.33 |
| José Luis López | Dermomedic Center, S.L. | 0.27 |
| Enrique Ranedo | Sugar Magnolia 2003, S.L. | 0.23 |
| Carlos Chiesa | — | 0.07 |
| Total investors | 30.40 |
ESOP (Phantom Shares)
Pool total: 891 phantom shares. Strike price: €841.56 per share.
| Name | % (FD) | Role |
|---|---|---|
| Antonio Martorell | 2.31 | Co-founder (additional grant) |
| Gerardo Fernández | 2.00 | Co-founder (additional grant) |
| Ignacio Hernández | 0.25 | Medical Data Scientist |
| Unassigned (available pool) | 3.22 | Reserved for new hires |
| Total ESOP | 7.78 |
Funding history
| Round | Date | Amount | Lead investor |
|---|---|---|---|
| Pre-seed / earlier rounds | 2019–2022 | ≈€342K (equity) | Various BAs |
| Seed | Q4 2024 | €2,035,489 | Mutua Ventures |
Non-dilutive capital captured to date: €3.44M in grants (CDTI Sello de Excelencia, EU programmes, regional grants) + €795K in soft loans (ENISA, Aquisgrán, Solventis, Santander). Total non-dilutive: €4.23M (64% of total capital).
See Funding for the complete breakdown.
Bridge round in process
A Bridge round of €1.5M-€2.0M is currently in process, targeting close in Q2 2026. SAFE/convertible structure with valuation cap referenced to a future Series A. Existing investors (Mutua Ventures, Telefónica Open Innovation, Ribera Salud, Biozell Ventures, Angels Capital, Sanitas) have been informed and are evaluating participation.
Use of bridge funds (planned): ~45% commercial expansion, ~25% FDA + US regulatory, ~20% runway buffer, ~10% operations.
See Bridge Round for the full thesis, path to €1M ARR, and use of funds detail.
Series A planned post-bridge
A full Series A round is planned for H2 2026 / H1 2027, once Bridge milestones are achieved (€1M ARR, FDA pre-submission completed, 2+ pharma multi-year frames signed). Targeted pre-money: €15-20M+, with a lead investor from US healthtech / clinical AI specialised funds preferred.