Funding
As of May 2026
Total funding raised: €6.61M across grants, equity, and loans. 64% non-dilutive.
Funding mix
Grants (non-dilutive)
€3.44M
Equity
€2.38M
Loans (non-dilutive)
€795K
| Source | Amount | % |
|---|---|---|
| Grants (non-dilutive) | €3,436,877 | 52.0% |
| Equity investment | €2,375,382 | 36.0% |
| Loans (non-dilutive) | €795,000 | 12.0% |
| Total | €6,607,259 | 100.0% |
Equity rounds
Pre-seed (2020-2022)
Raised €342,000 from business angels, including both cash contributions and convertible loans.
| Investor | Entity | Amount |
|---|---|---|
| Unai Carmona | Coben Business Group, S.L. | €30,000 |
| Enrique Ranedo | Sugar Magnolia 2003, S.L. | €10,000 |
| Mayr Alcaine | Yarkel Ventures, S.L. | €51,000 |
| Jose Luis Fernández | Copernica Sinergias S.L. | €30,000 |
| Iñigo Ugarte | ieTeam Legit Health S.L. | €65,000 |
| Carlos Chiesa | — | €3,000 |
| Adrián Gorricho | Kunsen Ventures, S.L. | €50,000 |
| Adrián Gorricho | Kunsen Inversión-20, S.L. | €100,000 |
| Ricardo Ruiz | Skin Logic, S.L. | €3,000 |
| Total | €342,000 |
Seed Round (Q4 2024)
Closed €2,033,382 at a pre-money valuation of €7,500,000. Led by Mutua Ventures with strategic investors from the healthcare and telecom sectors.
| Investor | Entity | Amount |
|---|---|---|
| Victor Zambrana | Mutua Ventures SAU (lead) | €899,630 |
| Antonio Martorell | — (non-cash contribution) | €222,172 |
| José Miguel Peris | Angels Capital SLU | €199,955 |
| Alberto de Rosa | Ribera Salud Tecnologías SLU | €199,955 |
| Fernando Ibáñez | Biozell Ventures SL | €199,450 |
| Paloma Castellano | Telefónica Open Innovation SLU | €199,450 |
| Ricardo Ruiz | Skin Logic, S.L. | €29,455 |
| José Luis Fernández | — | €29,455 |
| Tomás Merina | — | €29,455 |
| José Luis López | Dermomedic Center, S.L. | €24,405 |
| Total | €2,033,382 |
Grants
Non-dilutive funding represents over half of total capital raised. The largest grant, the CDTI Seal of Excellence (€2.49M), was awarded through the EU's Horizon Europe programme.
Flagship grant
€2.49M
CDTI Sello de Excelencia (Horizon Europe)
R+D grants total
€2.78M
7 R+D programmes captured
Internationalisation
€295K
DFB, ICEX, EIT Health, SPRI
| Grant | Institution | Granted | R+D |
|---|---|---|---|
| CDTI Sello de Excelencia | CDTI / Next Generation EU | €2,493,492 | Yes |
| Hazitek 2021 | Gobierno Vasco / FEDER | €55,622 | Yes |
| Hazitek 2022 | Gobierno Vasco / FEDER | €38,290 | Yes |
| Bikaintek 2022 | Gobierno Vasco | €90,162 | Yes |
| Programa Investigo | SEPE | €66,218 | Yes |
| Plan 2i 2022 | DFB / FEDER | €34,121 | Yes |
| Plan 2i 2023 | DFB / FEDER | €6,851 | Yes |
| Ekintzaile+ 2023 | Gobierno Vasco / SPRI | €87,500 | No |
| Zabaldu 2023 | Gobierno Vasco / SPRI | €23,760 | No |
| Zabaldu 2024 | Gobierno Vasco / SPRI | €23,614 | No |
| Zabaldu 2025 | Gobierno Vasco / SPRI | €48,005 | No |
| Internacionalización Germany | DFB | €50,905 | No |
| Internacionalización UK | DFB | €37,360 | No |
| Internacionalización US | DFB | €46,253 | No |
| Bridgehead Europe | EIT Health / EU | €41,600 | No |
| COVID Exponential Programme | EU Horizon 2020 | €100,000 | No |
| EPIC-X 2026 | EIC / EU | €60,000 | No |
| ICEX Next 2025 | ICEX | €24,000 | No |
| Other early-stage grants | Various | €108,124 | No |
| Total | €3,436,877 |
Pending resolution
Three competitive R+D grants submitted and awaiting resolution:
- Fast Track Innobideak 2026 (aEASI) — SPRI Gobierno Vasco. Submitted 30 April 2026. €250,000 requested (max SPRI ceiling) on a €520K project. Resolution by 31 October 2026.
- RED.IA Salud (VALIDERMIA) — Red.es. €400-600K range. Awaiting resolution.
- Plan 2i 2026 (VALIDERMIA) — DFB Bizkaia. ~€97K. Awaiting resolution.
Total pending non-dilutive capital: €747-947K.
Loans
Soft loans with low interest rates (average <3%), primarily from regional and public lenders.
| Lender | Amount |
|---|---|
| ENISA (participating loan) | €300,000 |
| Aquisgrán Elkargi | €200,000 |
| Solventis Elkargi | €155,000 |
| Santander | €100,000 |
| Seed Capital (x3 tranches) | €40,000 |
| Total | €795,000 |