SODENA

SODENA is a government organization based in Spain, established in 1984, that serves as the primary vehicle for business development in the region of Navarre. It operates as a public limited company with a majority ownership of 65.42% held by the Government of Navarre, complemented by an indirect participation of 14.58% through Nafinco. SODENA focuses on fostering regional economic growth by utilizing venture capital to support various business initiatives. Its investment portfolio includes a diverse range of assets, with significant portions allocated to long-term financial investments and investments in group companies. By leveraging its resources and strategic partnerships, SODENA aims to enhance the business landscape in Navarre, promoting sustainable economic development.

Mª Victoria Iriarte Izcue

Investment Director

Past deals in Spain

Palobiofarma

Venture Round in 2024
Palobiofarma is a Spanish biotechnology company based in Barcelona, focused on discovering and developing new medicines by modulating adenosine receptors. It aims to be a leader in European adenosine receptor drug discovery, using medicinal chemistry and in vitro pharmacology to identify selective adenosine receptor modulators, with potential applications in treating advanced prostate cancer.

Bee Planet Factory

Venture Round in 2022
Bee Planet Factory S.L., founded in 2018 and headquartered in Noáin, Spain, specializes in recycling automotive batteries and repurposing them for home and commercial energy storage solutions. The company focuses on the second-life use of batteries removed from electric vehicles, which retain significant storage capacity (70%-80%) and high performance after their initial application. Bee Planet Factory offers various products, including BeeBattery Home for residential energy accumulation from photovoltaic panels, BeeBattery Pack for medium-scale commercial and industrial storage, and BeeBattery Power for large-scale industrial and renewable energy applications. Through its innovative approach, the company aims to promote sustainable energy consumption and contribute to an emission-free future.

The Thinklab

Debt Financing in 2021
The Thinklab is a Madrid-based film production company that provides film production, post-production, and 3D animation and visual effects services. It develops content for global audiences across documentary, fiction, advertising, and animation formats, with a portfolio of works broadcast on international channels. The company focuses on producing films that address environmental, social, and political issues by delivering storytelling through creative and technical capabilities.

Bee Planet Factory

Grant in 2021
Bee Planet Factory S.L., founded in 2018 and headquartered in Noáin, Spain, specializes in recycling automotive batteries and repurposing them for home and commercial energy storage solutions. The company focuses on the second-life use of batteries removed from electric vehicles, which retain significant storage capacity (70%-80%) and high performance after their initial application. Bee Planet Factory offers various products, including BeeBattery Home for residential energy accumulation from photovoltaic panels, BeeBattery Pack for medium-scale commercial and industrial storage, and BeeBattery Power for large-scale industrial and renewable energy applications. Through its innovative approach, the company aims to promote sustainable energy consumption and contribute to an emission-free future.

InnoUp Farma

Venture Round in 2021
InnoUp Farma, S.L. is a nanomedicine company based in Noain, Spain, established in 2013. The company specializes in developing and licensing advanced therapies for various diseases through innovative nanotechnology. InnoUp Farma has created a technology platform that utilizes nanoparticles to enhance the oral administration of anti-cancer drugs that typically exhibit low oral bioavailability. Additionally, the company is engaged in developing nanoparticles as adjuvants for immunotherapy and vaccination. InnoUp Farma also explores the development of over-the-counter products, contributing to its diverse portfolio in the pharmaceutical sector.

Multihelpers

Debt Financing in 2017
Multihelpers is a Spanish startup that connects individuals requiring assistance with home improvements and repairs to professional handymen, known as 'Helpers', who offer their services for additional income.

Idifarma Desarrollo Farmacéutico

Venture Round in 2016
Idifarma Desarrollo Farmacéutico, S.L., founded in 2001 and based in Noain, Spain, specializes in contract development and manufacturing services for the pharmaceutical and biotechnological sectors. The company offers a comprehensive range of services that encompass the entire lifecycle of pharmaceutical products, including active pharmaceutical ingredient (API) selection, formulation development, GMP manufacturing, quality control, and regulatory affairs. Idifarma also provides packaging services for both investigational and commercial medicinal products. Serving over 100 international clients, from start-ups to large multinationals, Idifarma is equipped to handle both generic medications and innovative drug formulations. With a commitment to quality and efficiency, the company implements a strict quality control system and utilizes high-performance equipment to deliver tailored solutions within established deadlines.

Ikan Biotech

Debt Financing in 2016
Ikan Biotech SL is a biotechnology company based in Noáin, Spain, that specializes in developing enzybiotics and preclinical services utilizing zebrafish models. Incorporated in 2015, Ikan Biotech is recognized as the first contract research organization focused on this innovative approach. The company employs zebrafish to create tumor models for testing the efficacy of potential cancer treatments, allowing for the microinjection of tumor cells to streamline drug development. This platform enables the healthcare industry to assess drug candidates' safety and effectiveness at early stages, facilitating research across various sectors, including pharmaceuticals, biotechnology, and agrochemicals.

InnoUp Farma

Venture Round in 2015
InnoUp Farma, S.L. is a nanomedicine company based in Noain, Spain, established in 2013. The company specializes in developing and licensing advanced therapies for various diseases through innovative nanotechnology. InnoUp Farma has created a technology platform that utilizes nanoparticles to enhance the oral administration of anti-cancer drugs that typically exhibit low oral bioavailability. Additionally, the company is engaged in developing nanoparticles as adjuvants for immunotherapy and vaccination. InnoUp Farma also explores the development of over-the-counter products, contributing to its diverse portfolio in the pharmaceutical sector.

Caviar Pirinea SL

Seed Round in 2015
Caviar Pirinea S.L. is a leading producer of trout and sturgeon fish products in Spain, established in 2013 and headquartered in Barbastro, Huesca. The company operates three fish farms situated at the foot of the Pyrenees in El Grado, Oliván, and Yesa, where fish are cultivated in optimal natural conditions, benefiting from high-quality mountain spring water. Caviar Pirinea is committed to environmental sustainability and biodiversity, having been the first company globally to receive the European certificate for organic aquaculture at both its farms and processing facilities. The company emphasizes quality in its production processes, which are adapted to meet stringent environmental standards. Its workforce includes seasoned professionals with extensive experience in trout and sturgeon farming, along with a dynamic team of younger employees who contribute to innovative practices in global aquaculture. Caviar Pirinea also engages in online retailing of its products, which are recognized for their superior quality in the agri-food market.

Iden Biotechnology

Series A in 2015
Iden Biotechnology is a scientific company based in Noain, Spain, specializing in the development and commercialization of innovative biotechnological solutions for agriculture. Founded in 2005, the company focuses on plant-based technologies that enhance crop traits, increase starch content and yield, improve nutritional profiles, and promote stress tolerance. It also offers growth enhancers and fortifiers applicable to various crops, as well as technologies for valorizing byproducts from the biofuel industry into high-value compounds. Additionally, Iden provides research and development services, including plant genetic modification and culture infrastructure, targeting sectors such as agri-food, agrobiochemical, pharmaceutical, and energy. The company aims to facilitate the transfer of advanced biotechnological knowledge from academia to industry, enhancing the overall quality and efficiency of agricultural practices.

Palobiofarma

Series A in 2013
Palobiofarma is a Spanish biotechnology company based in Barcelona, focused on discovering and developing new medicines by modulating adenosine receptors. It aims to be a leader in European adenosine receptor drug discovery, using medicinal chemistry and in vitro pharmacology to identify selective adenosine receptor modulators, with potential applications in treating advanced prostate cancer.

Iden Biotechnology

Venture Round in 2013
Iden Biotechnology is a scientific company based in Noain, Spain, specializing in the development and commercialization of innovative biotechnological solutions for agriculture. Founded in 2005, the company focuses on plant-based technologies that enhance crop traits, increase starch content and yield, improve nutritional profiles, and promote stress tolerance. It also offers growth enhancers and fortifiers applicable to various crops, as well as technologies for valorizing byproducts from the biofuel industry into high-value compounds. Additionally, Iden provides research and development services, including plant genetic modification and culture infrastructure, targeting sectors such as agri-food, agrobiochemical, pharmaceutical, and energy. The company aims to facilitate the transfer of advanced biotechnological knowledge from academia to industry, enhancing the overall quality and efficiency of agricultural practices.

ProRetina Therapeutics

Venture Round in 2010
ProRetina Therapeutics, S.L., founded in 2007 and based in Pozuelo de Alarcon, Spain, is a biotechnology company focused on developing therapeutics for retinal dystrophies and degenerations. Its pipeline includes PRO 001, a neuroprotective agent administered in a sustained-release formulation to treat Retinitis Pigmentosa, and PRO-015, a gene vector coding the human proinsulin gene also indicated for Retinitis Pigmentosa. The company's efforts are directed towards providing effective treatments for these degenerative diseases of genetic origins.

Wasserlab

Seed Round in 2009
Wasserlab is a Spanish company specializing in the design and manufacture of water purification systems tailored to the needs of laboratories, hospitals, and various industries. With over 15 years of experience, Wasserlab delivers ultrapure water (Type I), pure water (Type II), and osmotic water (Type III) through a sophisticated sequential process that includes filtering, reverse osmosis, and resin deionization. The company operates globally and collaborates with top sales agents to ensure technical assistance is readily available. Wasserlab's innovative approach offers an efficient alternative to traditional distilled water, meeting the stringent demands for high-quality water in scientific and industrial applications.

Ojer Pharma

Pre Seed Round in 2007
Ojer Pharma engages in research, development, production, and marketing of dermopharmaceutical products in Spain, including prescription medicines, cosmetics, and medical devices, and operates internationally. The company has developed a bioadhesive transparent gel technology that acts as a sustained-release matrix for dermatological actives, both lipophilic and hydrophilic, which supports a range of therapies and seeks to offer dermatological alternatives with competitive advantages.

iSOCO

Venture Round in 2006
Isoco is an international company that specializes in providing business solutions through advanced technologies and strategic consultation. The firm focuses on optimizing relationships among organizations, customers, suppliers, employees, and partners to transform these interactions into economic value. Isoco constructs collaborative networks that leverage technology to foster communication, generate knowledge, and create opportunities. The company has developed a strategic plan and category management methodology aimed at enhancing supplier relationship management, thereby enabling organizations to strategically improve their customer relationships. Isoco's contributions to the industry have been recognized, notably when it was named a Key Vendor in 2013 by Gartner for its virtual assistant innovation. Additionally, Isoco holds accreditation as an official purchasing auditor under the new European Standard Purchasing framework in Spain.

Openbravo

Venture Round in 2006
Openbravo is a prominent provider of open source software solutions tailored for midsize and large specialty retailers worldwide. The company specializes in the Openbravo Commerce Suite, a comprehensive multichannel retail management platform that facilitates the transformation of physical store operations, enhancing customer shopping experiences. This cloud-based platform equips retailers with various functionalities, including sales, refunds, cash management, and warehouse management, allowing them to adapt to ongoing changes in the retail landscape. Openbravo's technology is designed to be highly flexible and extendable, with mobile capabilities to support diverse business needs. The company operates offices in France, India, Mexico, and Spain, and distributes its software through a global network of authorized partners, serving around 6,000 organizations daily.
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