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Wednesday, February 21, 2024

GA_P advises Elaia Partners on Qbeast´s €2.5m funding round

Gómez-Acebo & Pombo has advised Elaia Partners as lead investor on Barceona-based big data startup Qbase´s latest funding round, raising €2.5 million to boost the company´s growth

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Qbeast, a Spain-based startup, has closed a €2.5 million funding round, led by
Elaia Partners, and also subscribed by new investors Sabadell Venture Capital, and the individual Uber Founding CTO Óscar Salazar, and by existing investors Inveready Capital,
BStartup 10 and several business angels.

Qbeast, based in Barcelona, is a company specialising in big data, wose mission is to accelerate the transition to a Big Data-driven economy and society. A spin-off from the Barcelona Supercomputing Center – Centro Nacional de Supercomputación (BSC-CNS), Qbeast wants to make it easier to manage so-called data lakes, helping teams to better predict and optimise. The startup has just secured new investment as it plans to go to market.

Founded in 2020, Qbeast was launched by Cesare Cugnasco, Pol Santamaria, Paola Pardo, Clemens Jesche, and Nicolas Escartin with the aim of aligning flexibility and efficiency in data analytics.

Cesare Cugnasco, CEO at Qbeast, said: “Companies dealing with data have little choice: if they want to know what is happening in their business, they need to use a data warehouse. While if they want to predict the future, optimize its processes and use Machine Learning, they need a data lake. They end up using different technologies and needing different people, but also with double the cloud bill and double the time to develop, which is a huge problem. At Qbeast, we are going to change this by making the life of data teams easier and data tools more efficient.” 

The received funds will go towards boosting the company’s growth.

Gómez-Acebo & Pombo advised Elaia Partners with a Corporate team formed by partner Alex Pujol and associate Mónica Martells.

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