RocaJunyent advises CLCircular on its funding round with SETT

We have advised CLCircular, a company led by Iñigo Alonso Echevarría, on the closing of its second funding round, with the participation of SETT – Sociedad Española para la Transformación Tecnológica, E.P.E., which acts as the Spanish State’s vehicle for promoting technological transformation in the country.

The transaction has been structured in two phases:

• A first capital increase of over one million euros, subscribed by the existing shareholders – the founders, Easo Ventures and Suma Capital – joined by BYTEK Smart Solutions, S.L., a company specialising in smart technological solutions and digital transformation.
• A second capital increase, conditional upon the completion of the first, amounting to close to one million euros and fully subscribed by SETT.

The funds contributed by SETT will be used to support the Company’s core business activities within the framework of Component 15, Investment 9 of the Recovery, Transformation and Resilience Plan (PERTE Chip), thereby contributing to Spain’s technological and industrial sovereignty objectives under the European Union’s Recovery and Resilience Facility.

All contributions have been made on fully equal economic and legal terms, in accordance with the pari passu principle among all participating investors.