Entrepreneurial Ecosystem

Caixa Capital Risc invests in cybersecurity firm Build38

Alongside the eCapital fund, the investment group enters the shareholding of a German startup that has located its development team in Barcelona

19 january of 2021 at 23:58h

Build38 is one of the many startups that do not have their registered office in Barcelona, but have chosen the Catalan capital to locate their development team, as they find talent in the city and, furthermore, it offers an attractive environment to base their most valuable employees. This cybersecurity company based in Munich has just strengthened its ties with Barcelona by allowing Caixa Capital Risc, Criteria Caixa's venture capital manager, to enter its capital.

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The operation has been carried out through a capital increase of three million euros, which has been subscribed in equal parts by Caixa Capital Risc and the German fund eCapital. GD Ventures and the founding partners, among whom three Spaniards stand out, remain the largest shareholders of Build38. According to thestartup, this financing round represents the beginning of a new stage based on the development of new functionalities and products and the entry into new segments such as health or digital identity.

With offices also in Singapore, Build38 develops cybersecurity solutions for mobile applications and passwordless authentication and has clients in the financial and automotive sectors and in the ticketing area.

CaixaCapital Risc manages a volume of 200 million euros and invests in startups and growth-stage companies in the ICT, biotechnology, and industrial sectors. Its commitment to the cybersecurity sector is a priority "given the unstoppable momentum of service digitalization by companies." Criteria Caixa is the company that manages the business assets of the "La Caixa" Banking Foundation.

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