Madrid, January 31, 2024. - Wayra, Telefónica's main open innovation initiative, invested in a total of nine Spanish startups in 2023. Wayra Spain selected companies innovating across multiple sectors and focused particularly on those applying artificial intelligence (AI), thus maintaining its commitment to supporting the entrepreneurial ecosystem and driving digital transformation in Spanish society, in a year where the Venture Capital sector has experienced a reduction in investment. In 2023, Wayra focused on solutions applying AI in the fintech sector. In this regard, noteworthy investments include Bcas, which offers students a close, flexible, and democratic financing model as an innovative alternative to traditional banking; Depasify, an exclusive platform for unifying all traditional finances and digital assets; and Uelz Pay, a platform that automates the management of recurring payments, adapting to the individual needs of each company.
With the aim of continuing to drive the digitalization of small and large companies, Wayra also invested in the B2B SaaS sector last year. One of the investments made was in Invopop, which helps global companies automate the issuance of electronic invoices through its API; Remuner, a sales commission management platform that uses AI to automate variable compensation plans to align company and employee goals and incentives; and Haddock, a platform that helps restaurants maximize their profitability by digitizing financial and operational management through AI, where investment was renewed in 2023.
Another startup invested in by Wayra, and one that is expected to be key in the future of work, is Shakers, which allows companies to connect with digital specialists to develop their technology projects more quickly and securely.
Insurtech was another of Wayra's strategic sectors in 2023.
Through Íope Ventures, an investment vehicle created by Wayra and Telefónica Seguros, Wayra invested in Bdeo, AI capable of detecting vehicle damage in the home and significantly accelerating claims resolution and insurance underwriting.
Wayra also invested in the mobility sector by investing in Cafler, a platform that facilitates, with a single click, any type of management for vehicle users, from maintenance services to insurance.
Andrés Saborido, Global Director of Wayra, states: “At Wayra, we are very proud of what we have achieved and the lessons learned over all these years. We understood the importance of perseverance.” Looking to the long term and, above all, taking advantage of moments of great technological disruption like the ones we are experiencing to continue growing. That's why, in the last year, we have strengthened our position in AI, one of the technologies that is most transforming the world and in which we have invested since our beginnings.”
Wayra, 13 years in business
Wayra was founded in 2011 as a startup accelerator to energize local entrepreneurial ecosystems and has evolved into a Corporate Venture Capital firm that helps startups scale globally and serves as a link with Telefónica, offering them access to the Group's network of 380 million customers. After more than 10 years in operation, Wayra has a presence in nine countries across Latin America and Europe, with over 190 startups working with Telefónica and 530 active startups in its global portfolio. Currently, Wayra Spain offers open innovation services to large corporations such as Desigual, HBX Group, PortAventura, Pfizer, the Pfizer Foundation, and the Community of Madrid, among others, to drive their digital transformation. Wayra is looking ahead to 2024 with a focus on generative AI applied to an increasing number of sectors and on solving new problems with a continuous focus on automation. Furthermore, it aims to continue promoting sustainable development, cybersecurity, technologies applied to well-being, the improvement of immersive digital experiences, and exploring sectors such as blockchain and digital health.