Investor

Seed Capital Bizkaia

seedcapitalbizkaia.eus ↗ ·Bilbao ·Early stage ·Actively investing

A public venture capital firm based in Bilbao, founded in 1989 and attached to the Department of Economic Promotion of the Provincial Council (Diputación Foral) of Bizkaia. It manages eight investment vehicles/funds (including seed capital, microfinance/crowdlending, and a social-impact fund) backing early-stage, innovative and socially impactful companies mainly tied to the Bizkaia business fabric, across sectors like energy, ICT, industrial, and healthcare. As of 2024 it held roughly 79 active investments and deployed €4.28M across 24 operations that year (a 23% increase over 2023).

Portfolio
21
Team
3
AUM
n/a
Rounds
12
Cheque
~€0.5–1M
SectorsEnergy, ICT, Industrial, Healthcare, Biotech, Social impact VC MapPublic & regional funds

Profile updated 19 Jul 2026

Team

Partners 1 Investment Team 0 Others 2
Oscar Ugarte Gamboa
Director-Gerente (Managing Director)
—
No one in this group yet.
Amaia Arrizabalaga Echeverria
—
Leire Recalde Muniay
Apoderada (Authorized Representative)

Portfolio companies 21

Addilan
www.addilan.com/en
Company Seed Durango
Alterity
alterity.energy
Company Seed Zamudio
Aplanet
aplanet.org
Company Series A Bilbao
Barbara
barbara.tech
Company Series A Bilbao
Barbara IoT
barbaraiot.com
Company Series A Madrid
BeGas Motor
begasmotor.com
Company Series B Madrid
beXReal
bexreal.com
Company Seed Derio
CLCircular
www.clcircular.com
Company Seed Mungia
Coometas
coometas.com
Company Seed Bilbao
Fisify
fisify.com
Company Seed Bilbao
Grabit
grabit.ai
Company Seed Bilbao
H2SITE
h2site.eu
Company Series B Loiu
Histocell
histocell.com
Company Series A Derio
Insulcloud
www.insulcloud.com
Company Series A Madrid
Mikrobiomik Healthcare Company
mikrobiomik.net
Company Seed Derio
Motmo
motmo.pro
Company Pre-seed Bilbao
NNEAT
nneatcyber.com
Company Seed Bilbao
NorayBio
noraybio.com
Company Other Bilbao
Revenant
gruporevenant.com
Company Seed Alonsotegi
Ticketbis
ticketbis.com
Company Series B Bilbao
Zetrack e-Farming
zetrack.eco
Company Seed Amorebieta-Etxano

Funding rounds 12

NNEAT · Seed · €800K
NNEAT, a Versia spin-off founded in 2025 by CounterCraft co-founder Dan Brett, closed a €800,000 seed round led by Easo Ventures with Basque…
2026-02-18
Revenant Industrial & Ports Machinery · Seed · €3.3M
The Basque startup Revenant, which remanufactures heavy-tonnage forklifts, port and industrial tow tractors and container handlers under a c…
2025-05-29
BeGas · Other · €18M
BeGas, a Basque manufacturer of engines for industrial vehicles running 100% on BioAutogas, closed an €18M capital increase with Stellum Gro…
2024-12-30
Coometas · Seed · €600K
Coometas, which digitalises third-sector aid through digital vouchers redeemable in local shops, closed a €600,000 round combining an equity…
2024-07-15
Zetrack eFarming · Seed · €930K
Basque startup Zetrack eFarming raised €930,000 in a seed round with Seed Capital Bizkaia entering as a new shareholder, a convertible loan …
2024-02-12
CLCircular · Seed · €1M
Basque startup CLCircular, a spin-off of Arctic Sea that rents IoT sensors to monitor temperature, humidity, impacts and light in cold-chain…
2023-08-03
Fisify · Seed · €900K
Bilbao-based Fisify closed a €900,000 round led by Clave Capital, with Draper B1, Seed Capital Bizkaia and ENISA participating. Its AI softw…
2023-04-20
H2SITE · Series A · €12.5M
H2SITE, a Bilbao-based spin-off of Tecnalia and Eindhoven University of Technology, raised a €12.5M Series A led by Bill Gates-backed Breakt…
2022-06-29
Barbara · Seed · €2.5M
Barbara (formerly Barbara IoT) raised €2.5M led by Caixa Capital Risc through its Criteria Venture Tech fund, with Iberdrola investing via i…
2022-05-11
Barbara IoT · Series A · €2.5M
Barbara IoT raised €2.5M led by Caixa Capital Risc through its Criteria Venture Tech fund, with Iberdrola entering via its PERSEO startup pr…
2022-05-11
Barbara IoT · Seed · €500K
Barbara IoT closed its first institutional round, €500,000 led by GoHub Ventures (the corporate venturing vehicle of Global Omnium) with Bas…
2020-12-16
Histocell · Seed · €2.5M
Histocell closed a €2.5M capital increase announced on 11 June 2015 to fund the international launch of its Reoxcare wound-healing product, …
2015-06-11

News & media 7

PublishedArticle
2026-07-26 Seed Capital Bizkaia participa en la nueva ronda de Sherpa.ai ↗
Webcapitalriesgo
2026-07-16 EZTEN II, nuevo fondo dotado con €50M, se estrena invirtiendo en Walter Pack en una ronda liderada por Stellum ↗
Webcapitalriesgo
2026-04-20 Barbara IoT Closes €4.5M Round to Scale Edge AI Into Global Critical Infrastructure Markets ↗
Kurrant
2026-02-17 H2SITE, backed by Seed Capital Bizkaia Fund I, strengthens its international expansion with a new hydrogen production project in Norway ↗
Capital-Riesgo.es
2025-11-28 Seed Capital Bizkaia's BI and BAF venture capital funds will receive an additional 8 million euros ↗
Capital-Riesgo.es
2025-02-19 "Nuestro reto en 2025 es hacer crecer los fondos en capital y operaciones" ↗
Estrategia Empresarial
2025-01-23 Seed Capital Bizkaia Has Invested 4.28 Million Euros in Innovative and Socially Impactful Projects in 2024 ↗
Born2Invest
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