The 'startup' Allread raises 2.5 million to continue its internationalization

The computer vision startup Allread, one of the most disruptive Catalan companies, has closed a round worth 2.5 million euros. The resources obtained are intended to export software that allows reading texts and codes on maritime containers and freight wagons. The startup uses deep learning to analyze all the information they present, both on the surface and on license plates or barcodes, processing it and offering the data of the elements entering or leaving the facilities digitally and much faster. All of this, with a very simple and remote prior installation, based on the images provided by the security cameras of the ports.

Allread already operates in ten countries in Europe and Latin America, and is present in about thirty ports and terminals, such as those in Barcelona, Algeciras, Bilbao, Porto, Livorno, Toulouse, Reunion, and Belize. According to its CEO and co-founder, Miguel Silva-Constenla, the goal now is to expand its presence in the rest of Spain, Europe, and Latin America, with the aim of reaching 100 clients by 2023, at which point they will go for another round.

With a staff of 26 employees, the Barcelona-based company plans to sustain this expansion through the hiring of new technological and commercial profiles, with the forecast of reaching 45 employees by the end of next year. The growth it is experiencing also translates into its turnover. In 2021, it recorded revenues of 400,000 euros and, this year, it expects to exceed one million euros.

In the second round of the startup, the Tech Transfer Agrifood fund, managed by the venture capital firm Clave Mayor Capital, the Decelera Ventures fund, the public fund of Puertos del Estado 4.0, the Center for Industrial Technological Development (CDTI), and several private investors participated. The operation was legally advised by DWF-Rousaud Costas Duran.

The first round of the Barcelona-based company raised 700,000 euros in 2020 and was led by the Valencian company Global Omnium, through its corporate investment fund specialized in deep tech GoHub Ventures. Family offices and business angels from Esade Ban, Acció, and the Ministry of Science and Innovation also participated. Previously, they had obtained 125,000 euros from the program that accelerated them, The Collider of Mobile World Capital Barcelona (MWCapital), and Acció.

Founded in 2019 by Miguel Silva-Constenla, Adriaan Landman, and Marçal Rossinyol, the startup started from a technology developed and transferred by the Computer Vision Center of the Autonomous University of Barcelona (UAB). Through The Collider program, the software that is now commercialized was developed.

Together with Allread, the MWCapital accelerator has created 17 more emerging companies, which have achieved a valuation of 29 million euros, have raised close to seven million euros, and have consolidated a workforce of more than 100 employees. Currently, the program is immersed in its seventh edition, with the forecast of selecting the new boosted startups at the end of the year.