There is a significant amount of capital seeking to be invested in innovation projects, but investors are looking for successful operations and are guided by criteria such as scalability, strong technological component and internationalisation capacity. Odilo and Immfly, which received €1.3M and €2.4M this February, are two examples.
Odilo receives €1.3M
Odilo is a digital content management platform that allows groups to offer their users access to digital content, e-books, audio and video, on demand, through a model of pay-per-use agreements. This startup has received €1.3M in a round led by inveready.
Odilo had already received a €2.2M round in 2014 from Active Venture Partners. This facilitated its internalisation process, which has led it to win public contracts in Europe, Latin America, Oceania and North America in the last year, and in the United States it was awarded the contract to offer digital content to all the inhabitants of the State of Michigan.
Last October Odilo became the first company outside the United States to sign global distribution agreements for lending with the five largest publishing groups in the world.
The funding obtained from Inveready and ENISA will allow the company to continue its successful commercial breakthrough in new markets, having signed new commercial agreements in Asia and Europe as well as strengthening its digital education area where Odilo's solution is generating great interest for the school environment mainly in the United States.
Immfly receives €2.4M from la Caixa
Immfly the Catalan startup that allows travellers to enjoy multimedia content while travelling by plane, has received a €2.4M round led by Caixa Capital Risc,
The platform gives passengers access to entertainment and e-commerce services at the destination. Immfly has signed deals with around 50 media companies, including the BBC, Bloomberg News and the Financial Times, and around 200,000 passengers have used the service on 11,500 Iberia Express flights. The startup expects to announce new travel industry clients later this year.
The company's goal is to become the preferred in-flight monetisation partner for the travel industry, reaching 100 million connected passengers by 2018. They are working to develop digital on-board platforms, helping airlines to increase customer loyalty by increasing their Net Promoter Score among passengers and enabling the creation of new ancillary revenues through sponsorship and e-commerce on the platform.
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