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Welcome to our last newsletter of the year! We've had an amazing time at the Web Summit connecting with investors and startups worldwide. Dive into our Community Manager's Web Summit diary on our blog for all the juicy details! This edition is packed with news from successful climate tech exits to profitable startup investment tips. Plus, let's cheer for our portfolio stars—NumberEight's ad revenue skyrocketed, Energiot secured vital funding, and Uelz nailed it at South Summit. Looking forward, seize the opportunity to be part of our Angel Fund Launchpad 2024 Cohort. And don't miss checking out our latest investments—the future is bright with Tripartie, Triple, EDHP, KOUO, NumberEight, Sorwe, and Instreamatic! Enjoy the read and stay tuned for more exciting updates!

Happy Angel Investing!

COREangels Community at Web Summit Lisbon 2023

Hey there, fellow angel investors and entrepreneurial enthusiasts!

we are absolutely buzzing to share the whirlwind of experiences, connections, and electric vibes we soaked up during our unforgettable time at Web Summit 2023 in Lisbon. Buckle up for a rollercoaster ride through the highlights, laughter, and insightful moments that made this gathering of global innovators so special.

Day 1: Team Building Extravaganza

Kicking off our adventure with a tower-building showdown might sound like a plot twist from a sitcom, but let me tell you, spaghetti and determination were the secret ingredients. The competition got heated, but leave it to the Italian flair of Michele Morabito (COREangels Climate), Eufemia Scala (COREangels) and leadership of Rui Falcao (COREangels Lisbon) to craft the winning tower!

Being in a team and meeting face-to-face with Maha M. (COREangels MEA) and Paulo Lopes Marcelo (COREangels Lisbon) was a refreshing shift from our usual virtual collaborations.

Lunch Break: Cultural Souvenirs and River Views

Lunch at Le Chat restaurant was more than a gastronomic delight—it was a cultural exchange fiesta!

Afterwards, Maha Mandour and Ahmed Essam , the leaders from our Middle East and Africa fund, wowed us with souvenirs straight from Egypt.

Insights Straight from the Movers and Shakers

Jo?o Barros took the stage, with is story of entrepreneurial highs and lows. His journey from startup founder to angel investor struck a chord with us all.

COREangels Night

Our fund leaders wowed the crowd with their impactful speeches.

Web Summit week has always held a special place in my heart, fostering a sense of belonging to something bigger. However, being here at COREangels Night, I feel this much stronger. We are a community growing and evolving each year—all thanks to each and every one of you.” - Cintia Mano, CEO of COREangels

I believe that we must bring the entrepreneurial toolkit into public health and leverage talents across sectors to have the agility to respond to both persistent and emerging public health challenges. - Terry Huang

At the core of our mission lies the pursuit of extraordinary talent, visionary ideas, and innovative startups. Our fund aims not only to generate financial returns but also to catalyze positive change within the industries and regions we engage with. I firmly believe that through COREangels, we can create a lasting impact that transcends mere financial success. - Maha Mandour, Fund Leader of COREangels MEA

It is all about the network. This is how we got in touch with COREangels and this is what the the groups provide as core value for their angels and the startups. - David Griesbach

From southern Europe, let's fight climate change together. - Federico Giannetti

Special shoutout to Dr. David Griesbach for gifting us his recently published book, the "Lean Innovation Guide "—a must read guide for entrepreneurs and investors who are in the world of innovation.

Days 2-3: Web Summit Wonders

As we delved deeper into the Web Summit, each passing day revealed more triumphs and moments of pride for our community.

Pedro Bandeira , our reliable jury member, played a pivotal role at Startup Portugal .

Our engagement spanned across diverse forums and discussions. From Terry Huang and Ahmed Essam participating in the Startup Genome Ecosystem Leadership Forum to Maurizio Calcopietro 's role in the Internationalization Seminar, each interaction paved the way for collaborations and partnerships that transcend boundaries.

The Web Summit stages witnessed our leaders making impactful appearances. Urs Rothmayr represented COREangels Barcelona, sharing insights at the Barcelona Catalonia Networking Cocktail, while Cintia Mano took the stage at ApexBrasil booth, connecting continents through her profound insights on investments.

Spotlight on Our Stellar Startups

Our rockstar startups stole the show! ETHIACK bagged the prestigious "Most Promising Startup" title, validating our belief in their potential.

With booths boasting innovation prowess, Enso Co-living , KnowCode , Kouo, Motoreto , TalentFY , and Vurdere shone like diamonds in the Web Summit rough.

Phew, reliving these moments gets me fired up all over again! The blend of leadership, learning, and celebrating innovation was an absolute thrill. COREangels showed up, showed out, and left an indelible mark on Web Summit 2023. Here’s to nurturing more groundbreaking ventures and building a community that thrives on innovation!

Exploring Successful Exits in Climate Tech

In this session, we were fortunate to have Federico Giannetti, PhD , the Managing Partner of COREangels Climate , as our special guest. Federico, with his vast experience as a climate investor, guided us through the world of climate tech investments and successful exits in this sector.

The discussion began by revisiting the fundamental definition of climate tech. Federico reiterated how climate tech encompasses technologies explicitly designed to combat CO2 emissions and global warming. Understanding this fundamental definition is crucial as it forms the bedrock for making informed investment decisions in this space.

We basically reviewed what we learned in the first webinar:

We looked into the unique reality of climate tech compared to the traditional venture capital landscape. Federico highlighted the distinct path taken by climate tech startups, emphasizing the heavy focus on hardware innovation. This divergence from the conventional VC investment models help understand the varied exit strategies involving angel investors, VC funds, private equity, and infrastructure funds.

One of the most intriguing aspects Federico discussed was the resilience displayed by climate tech investments, even during economic downturns. Since investments in climate tech are not only driven by financial motives but also by a collective imperative to combat global warming.

The webinar was a treasure of information. Federico presented trends in climate tech investments, the sector's growth and its resistance to economic fluctuations and how the trends show promising signs for the future of climate tech investments.

The analysis of climate tech exits was particularly interesting. We examined various sectors, geographical influences, and types of exits, such as M&A, IPOs, and SPACs. Federico's detailed breakdown allowed us to understand the complex landscape of exits, their varying values and associated strategies.

Corporate engagement emerged as a significant catalyst in driving successful exits within the climate tech sphere. Federico emphasized the importance of startups aligning their goals with large corporates, a symbiotic relationship that often paved the way for lucrative exits.

Predicting future trends in climate tech became a riveting exercise. By analyzing past exit data and sectoral trends, Federico provided invaluable insights into potential future exit markets. This foresight empowers investors to make informed decisions based on current sector investments and their potential impact on future exits.

The discussion also touched upon multiples and valuations, showcasing higher multiples in EV/Revenue and EV/EBITDA for climate tech startups compared to other industries. This insight hinted at potential returns, painting an optimistic picture for investors eyeing the climate tech sector.

As the webinar drew to a close, I found myself captivated by Federico's comprehensive insights. His expertise and data-driven approach reaffirmed the immense potential and significance of climate tech investments. Federico's parting words emphasized that investing in climate tech is not just an opportunity for financial gains; it's a vital contribution towards a sustainable future.

Until our next engaging Business Angels Talks, let's continue to explore, learn, and invest in a future where climate tech leads the charge towards a greener, more sustainable world.

Watch the Full Webinar:

This article has been written inspired by a presentation by Federico Giannetti, Managing Partner of COREangels Climate, during a 2023 Business Angels Talks Episode. Business Angels Talks is a monthly webinar series by COREangels International, that features discussions, presentations, and panels led by prominent investors, entrepreneurs, and industry experts. Covering angel investing, startup growth, and entrepreneurship, it offers valuable insights, growth strategies, and trends in a dynamic setting. Open to the public and COREangels Community members, it's a platform to learn, network, and engage in the startup investment ecosystem.

NumberEight Achieves Remarkable Growth in Ad Revenue

Exciting news surfaces as NumberEight , a cutting-edge startup specializing in on-device mobile AI software, demonstrates a remarkable 153% surge in ad revenue for Adverty , a pioneering force in in-play advertising. This groundbreaking achievement stands as a testament to the strategic investment and support provided by COREangels EnterpriseTech , an esteemed early-stage investor group focusing on disruptive solutions across Europe and the US.

Under the visionary leadership of founders Abhishek Sen and Chris Watts , NumberEight 's innovative technology has played a pivotal role in doubling Adverty's fill rate while also propelling a staggering 73% increase in eCPMs. By introducing real-time demographic targeting and prioritizing user privacy amidst the stringent GDPR regulations in European markets, NumberEight has carved a niche for itself in the mobile gaming advertising ecosystem.

Jorge Martínez-Arroyo , the Angel Leader of COREangels EnterpriseTech , highlights, "Our investment philosophy centers on empowering visionary startups that drive impactful change. NumberEight 's phenomenal growth reflects the innovative approach and disruptive solutions we seek to support."

"Our investment philosophy centers on empowering visionary startups that drive impactful change. NumberEight's phenomenal growth reflects the innovative approach and disruptive solutions we seek to support."

This strategic partnership with Adverty marks a significant milestone, revolutionizing in-play advertising by offering a programmatic ad format that not only respects user privacy but also empowers advertisers with unparalleled targeting capabilities.

For those eager to explore the possibilities of real-time demographic targeting, Abhishek Sen extends an invitation to a free trial, offering up to 10,000 free demographic lookups. Reach out directly to Abhishek Sen to embark on a journey towards hyper-personalized experiences and cutting-edge technology.

COREangels EnterpriseTech , remains committed to investing in visionary startups that redefine customer experiences and transform talent acquisition, retention, and engagement. Stay tuned for more success stories from our portfolio companies, as we continue to champion innovation and drive meaningful change in the entrepreneurial landscape.

Energiot Secures Vital Funding Round with COREangels Climate

Energiot , a Spanish IoT startup, dedicated to intelligent grid management through IoT devices, recently secured a substantial funding round led by COREangels Climate , in collaboration with Spanish firm Axon Partners Group .

This milestone represents a monumental leap for Energiot , which emerged as a spin-off from the Barcelona Institute of Microelectronics. The strategic investment, marked as a seed financing round, not only witnesses the entrance of Axon and COREangels Climate into Energiot 's growth journey but also highlights the continuous support from EIT InnoEnergy , an organization that has been a backbone for the company since its inception.

The infusion of capital into Energiot aligns with the imminent surge in electrical demand anticipated in the coming years. Reports from the International Energy Agency (IEA) forecast an unprecedented expansion of nearly 80 million kilometers of new power lines worldwide by 2040. This escalating demand necessitates a tripling of current network connections, underpinning the critical role of innovative solutions like those championed by Energiot.

The investors' enthusiasm is rooted in addressing the challenges posed by the exponential rise in renewable energy production, electrification, and the subsequent strain on existing networks. Energiot 's focus on modernizing and digitizing power grids, real-time monitoring, predictive maintenance, and implementing dynamic management systems aligns perfectly with these industry needs.

Energiot intends to utilize this funding to optimize grid operator functionalities by deploying IoT devices that enhance the maintenance and operations of electrical network assets. The company has already made significant strides, collaborating with major European grid operators such as Iberdrola, EDP, and Enercal, solidifying its presence in the energy sector.

Gonzalo Murillo , President, and Founder of Energiot , articulated, "This investment round will facilitate pivotal pilot projects with additional network operators, scale-up manufacturing and commercialization of our products, and incrementally expand our team's expertise."

Energiot 's remarkable achievement in securing funding, with COREangels Climate and Axon Partners Group as pivotal contributors, signifies a transformative leap not only for the company but also for the sustainable technology landscape. As they venture into a new phase of growth and innovation, Energiot embodies the commitment shared by its investors toward a sustainable and technologically advanced future.

The impact of this investment extends far beyond financial realms, marking a collaborative effort towards building smarter, more resilient energy networks and reinforcing the ethos of environmental stewardship embraced by COREangels Climate and its partners.

About COREangels Climate:

COREangels Climate is as a pioneering climate tech angel group in southern Europe's VC and Angel Investing landscape. Comprised of a group of angel investors deeply committed to combatting climate change, this group focuses on identifying and funding early-stage startups that champion sustainability across various sectors. Beyond financial support, COREangels Climate offers invaluable expertise, fostering a supportive ecosystem for visionary entrepreneurs. Their mission extends to co-creating initiatives like IT's Climate , fostering collaboration among talented founders and investors to drive transformative solutions addressing the planet's most pressing environmental challenges. By leveraging their resources, connections, and expertise, COREangels Climate plays a pivotal role in catalyzing a greener, more sustainable future.

Source: El Economista

COREangels Barcelona's Uelz Pay's Triumph

Uelz Pay , the Valencia-based startup, has secured a remarkable €800k funding round and triumphed at South Summit 2023, marking a significant leap forward. This exciting development not only underscores Uelz Pay 's rapid ascent but also highlights COREangels Barcelona 's commitment to driving innovation within Spain's startup ecosystem.

Under the leadership of CEO and Co-Founder Maria Luke , Uelz Pay has emerged as a frontrunner, redefining the landscape of business payments. Their innovative platform, designed to streamline collections for companies with recurring revenues, has garnered widespread praise from investors and industry experts, culminating in their victory at the prestigious entrepreneurial event, South Summit 2023.

The recent funding surge attracted a notable consortium of backers, including Angels Capital , TheVentureCity , Wayra from Telefónica's open innovation initiative, COREangels Barcelona, Ivan Pe?a’s Uhaldia investments, and influential fintech business angels like David Lozano Lucas and Alex Saiz Verdaguer from Monei.

Uelz Pay 's platform offers a comprehensive suite, enabling companies to automate diverse recurring payment flows across multiple payment gateways and methods. Empowering businesses with flexible payment modes, frequencies, seamless API integration, and distribution via email, WhatsApp, and social media, the platform revolutionizes traditional billing methods.

Furthermore, the platform's robust tracking of payments, generation of insightful metrics, and provision of crucial sales data empower businesses with decision-making capabilities crucial for thriving in rapidly evolving markets. Its stringent security protocols and error recovery mechanisms significantly reduce standard error rates, ensuring a reliable and efficient payment ecosystem.

COREangels Barcelona 's investment in Uelz Pay reflects their dedication to driving innovation and supporting early-stage Spanish startups with exceptional potential. Led by Urs Rothmayr , an influential figure renowned for his commitment, COREangels Barcelona distinguishes itself by championing unique business models and disruptive ideas.

Urs Rothmayr 's hands-on approach guarantees that startups in their portfolio receive not just financial backing but also invaluable mentorship and guidance pivotal for their success. As Uelz Pay continues its trailblazing journey in revolutionizing business payments, COREangels Barcelona reaffirms its commitment to supporting visionary entrepreneurs across Spain.

In essence, this partnership embodies the pursuit of growth through innovation and emphasizes the significance of strategic investments in pioneering ventures like Uelz Pay , paving the way for the future of finance and technology in Spain's startup landscape.

Source: StartupRise

A Day in the Life of our CEO

You know her as the powerhouse behind COREangels , our CEO who's always juggling multiple hats – and guess what? We've got a sneak peek into a day in her life that'll make you admire her even more (if that's possible)!

So, picture this: a typical day in the life of our incredible CEO. But hold on tight, because her schedule is anything but typical. Buckle up and get ready for a rollercoaster of productivity, passion, and a sprinkle of fun.

From the crack of dawn at 7:00 AM, she's already up and at 'em, having a power breakfast with her teenage kids. Who knew mornings could be so zen, right? And did we mention Wednesdays are yoga days? Namaste, indeed!

After kickstarting the day with family time, it's time for some serious business. But hey, a CEO's gotta stay fit, so there's no skipping on that morning workout routine. Exercise and meditation are non-negotiables – talk about commitment!

Fast forward to mid-morning, and our CEO's already diving headfirst into her jam-packed schedule. But hey, even a chess match or two finds its way into her day – gotta keep that strategic mind sharp!

Lunchtime? Yep, she's got it all figured out, folks. Whether it's cooking up a storm (thanks to some genius time-saving kitchen hacks) or heading out for a working lunch in Lisbon, she's making every minute count.

Back to work in the afternoon, and it's all about meetings, investments, and supporting budding entrepreneurs. Talk about a true mentor! She's not just leading from the front; she's rolling up her sleeves and getting into the nitty-gritty of startup life.

By the end of the workday, she's back to her family, catching up with the kids' schedules and enjoying some quality time. And let's not forget the monthly book club sessions – because who says CEOs can't be bookworms too?

The clock strikes 9:00 PM, and it's finally downtime. Well, sort of. There might be a Netflix date with the family or a late-night chat about the latest book club pick. But hey, she's earned it!

Our CEO's energy and commitment are truly contagious, and her ability to balance work, family, and self-care is nothing short of inspiring.

Source: Executiva

Celebrating One Year of COREangels Climate

Accelerating Climate Innovation

As the world commemorates the historic agreement at Cop28 in Dubai, signaling a transition away from fossil fuels by 2050, the significance of initiatives dedicated to combating climate change grows immensely. Among these is COREangels Climate , our visionary angel investment fund in Italy devoted to early-stage climate tech technologies in Europe. Founded and supported by family offices and individuals from Italy, Spain, Portugal, and the Netherlands, COREangels Climate recently marked its first-year anniversary with promising announcements and ambitious plans.

Federico Giannetti, PhD , co-founder, and managing partner of COREangels Climate expressed, "In light of the historic agreement reached at Cop28, our commitment takes on an even deeper meaning. We've created a network of Southern European investors actively supporting companies in our region experiencing rapid growth in sectors traditionally dominated by Northern Europe. These companies are not only growing but also contributing to CO2 reduction, far surpassing current predictions."

Reflecting on its inaugural year, COREangels Climate has exceeded expectations. With a steadfast focus on sustainability and innovation, the investment vehicle has strategically invested in companies collectively projected to impact CO2 reduction and sequestration exceeding 1 Gton. Its investment strategy concentrates on Southern Europe, collaborating with internationally significant funds, handpicking enterprises with substantial potential to combat climate change and transition towards a zero-carbon economy.

Since commencing operations in March 2023, COREangels Climate has experienced rapid development and growth. Notable public investments include:

1. Wsense (Italy): Pioneering underwater communication technology for environmental monitoring, recently concluded a Series A funding round, solidifying its market position and expanding technological innovation capacities.

2. Strong by Form (Spain): Innovating wood-based biocomposites set to replace steel and cement, contributing significantly to sustainable construction practices.

3. Energiot (Spain): Actively engaged in energy infrastructure monitoring, their innovative solutions are enhancing the efficiency and sustainability of energy transmission networks.

"In light of the historic agreement reached at Cop28, our commitment takes on an even deeper meaning. We've created a network of Southern European investors actively supporting companies in our region experiencing rapid growth in sectors traditionally dominated by Northern Europe. These companies are not only growing but also contributing to CO2 reduction, far surpassing current predictions."

As COREangels Climate celebrates its first year soon, it foresees an even more impactful future. With plans to add two strategic investments before year-end and a projection of ten additional investments in 2024, the fund is set to further consolidate its presence in Spain, Portugal, and Italy. Their dedication to nurturing innovative solutions aligns with global efforts toward a more sustainable and climate-resilient future.

Source: Dealflower

Angel Fund Launchpad 2024 Cohort Open Now

Don't miss your chance to be part of a diverse community of COREangels fund managers! Angel Fund Launchpad Cohort 10 , opens doors for Fund Managers, VCs, Experienced Angel Investors, Portfolio Managers, and Family Offices worldwide. Apply with a co-leader before January 19th. We still have 3 more seats available. ?? https://coreangels.com/angel-fund-launchpad

Exclusive AWS Credits for all COREangels Startups

Great news for COREangels startups ! Thanks to the remarkable efforts of the COREangels Atlantic team, our invested startups now have access to exclusive perks of Amazon Web Services (AWS) credits for two years. Startups can follow our step-by-step guide to activate these valuable benefits, courtesy of COREangels.

?? Redeem Perks