We analyse from the point of view of corporate finance the €1.6 million capital injection received by Infraspeak from funds Firstminute Capital, Tencent, Innovation Nest, Construtech Ventures, 500Startups and Caixa Capital. With the injection, Infraspeak will aim to strengthen its bid to expand its team across borders. In the coming months, the company plans to reach the UK, Spain and France and hire 10 new employees.
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Founded in 2015 and based in Porto, Infraspeak offers maintenance management software for suppliers, managers and purchasers of maintenance equipment and infrastructure. Using the most advanced web and mobile technologies, Infraspeak radically increases the control and productivity of its usersreducing bureaucracy, risks and costs.
It is aimed at companies that supply, manage or purchase maintenance of equipment and infrastructure, such as hospitals, shopping centres, hotels and spas, schools and colleges, banks, supermarkets, water and electricity utilities, among many others.
Managers and technicians at companies such as Vila Galé Hotels, Pinto & Cruz or Siemens now have more efficient, paperless operations, lower costs and less stress, with the help of Infraspeak. There are more than 7 million maintenance tasks processed on the platform.
The Portuguese startup, which grew more than 200% in 2017, will focus on growing new markets and strengthening the team.
In mid-October 2018, a €1.6 million investment round to Infraspeak was confirmed in order to expand its operations to the UK, Spain and France.. Participants in this financing round included funds Firstminute Capital and Tencent Holdings and several European unicorn founders, as well as Innovation Nest (Poland), Construtech Ventures (Brazil), 500 Startups (US) and Caixa Capital (Portugal).
"After three years focused on product development, acquiring reference customers and building a team we are proud of, it's time to look forward to new heights," said Infraspeak co-founder and CEO Felipe Avila da Costa. To support this cycle, Infraspeak currently has 10 job openings and plans to open more by the end of 2018.
Lina Wenner, an investor at Firstminute Capital, said: "We see great potential in digital solutions for industries that are still in the 'paper era'. "It seems appropriate, and the timing is right, to create a marketplace and a records management system and infrastructure for hotels, hospitals and other non-residential buildings. "We believe Firstminute Capital is strategically positioned to help Infraspeak lead the European market as a result of our position at the intersection of the enterprise and corporate universes," he added.
The growth of the platform is a priority for Infraspeak. An example of this is the launch of Infraspeak Marketwhich took place on 19 September in Funchal, in the context of Everything Works Tour 2018, the tour that the company is doing in seven cities in four different countries (Portugal, UK, Spain, and Brazil).
The following table shows the most relevant rounds in the sector that have taken place recently.
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Takeovers of companies in the network and telecommunications infrastructure management sector
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