Caixa Capital Risc, through its Criteria Venture Tech fund, and Iberdrola, through Perseo, its programme to promote the development of technology companies, have joined forces to boost the digitisation of smart grids and cybersecurity by investing €2.5 million in Barbara IoT. The Spanish start-up led by David Purón and Isidro Nistal has created an operating system to connect and protect industrial equipment with an anti-hacker shield.
Barbara IoT, founded in 2016 and based in Bizkaia, receives this capital injection to consolidate its leadership in the smart grid sector and expand into new markets. Through its software, the company captures data from sensors and industrial equipment, and executes Artificial Intelligence algorithms to detect anomalies or automate processes in real time. All this without the need to use the cloud, reducing costs for its customers while drastically reducing the risk of cyber-attacks. This last factor is key for critical sectors such as electricity, infrastructure, utilities, etc. where Barbara IoT is already working with clients such as Iberdrola, Cellnex, Grupo Red Eléctrica, Grupo DIA Global Omnium and others.
The company will use this capital injection to consolidate its leadership in the smart grids sector and to implement its expansion plan in Europe.
“We want to be the reference for the deployment of edge computing,” said David Purón, co-founder and CEO of Barbara IoT. “We already work with multinationals in sectors such as electricity, water management, critical infrastructure and telecommunications, and this round will allow us to scale in these markets and accelerate our expansion in Europe.”
Javier Bustillo, partner in Andersen’s Corporate and M&A practice, and Santiago López Vila, a senior lawyer in the same area, were responsible for advising Barbara IoT on the transaction.
RocaJunyent´s M&A and Corporate team advised Caixa Capital Risc and INVERSIONES FINANCIERAS PERSEO SL (Iberdrola) with partner Xavier Costa together with Sergio Giménez Beltrán, lawyer in the same area.