Investor

Sodena

sodena.com ↗ ·Pamplona ·Multi stage ·Actively investing

Sodena is the Government of Navarra's financial development and venture capital arm, backing entrepreneurship, growth and relocation projects with added value for the Navarra region. It invests via seed capital (average ticket around €50K) and growth-stage financing (typically above €400K), across agrifood, health/biotech, industrial, digital transition and ecological transition sectors. Its roughly 70-company portfolio includes Fuvex, Telum Therapeutics, MOA Foodtech and Ysium Medical.

Portfolio
54
Team
29
AUM
n/a
Rounds
35
Cheque
€50K–2M
SectorsAgrifood, Health/Biotech, Industrial, Digital Transition, Ecological Transition, Sustainable Tourism, Audiovisual VC MapPublic & regional funds

Profile updated 18 Jul 2026

Team

Partners 1 Investment Team 4 Others 24
Iñaki Larraya Garayalde
Managing Director
Guillermo Alonso Orbea
Director, Invest in Navarra
José Mª Montes Ros
Investment Director (Other Financial Instruments)
María Eugenia Lecumberri Alli
Investment Director (Consolidation & Growth)
María Victoria Iriarte Izcue
Investment Director (Entrepreneurship / Seed)
Ainhoa Echarte Górriz
Project Management
Ainhoa Patiño Etxeondo
Executive Assistant
Amaya Manrique Pérez
Project Manager
Beatriz Blasco Felipe
Project Technician
Carlos Sarobe Carricas
Project Manager
Cristina Pascual Morrás
Project Technician
Daniel Mazo Sáez
Project Technician
Iker Linzoain Ramos
Project Manager
Iker Zaratiegui Saralegui
Project Technician
Iñaki Amatriain Lecumberri
Admin/Finance Technician
Juan Cristóbal García
Director, Regional Strategy
Katy Labiano Elizalde
Project Technician
Legarda Campos Bernal
Project Technician
Leire Goñi Ecay
Project Technician
Maite Leizagoyen Jericó
Administration & Support
Marian Erro Martínez
Project Technician
María García Arellano
Project Manager
María Pedrosa Sanz
Project Technician
Montse Esparza Abaurrea
Project Technician
Montse Guerrero Pérez
Deputy Director, Sustainability & Circular Economy
Patricia Sanz Planas
Project Technician
Unai Irigoien San Miguel
Project Technician
Íñigo Donézar Apesteguía
Project Technician
Óscar Arriaga Lasterra
Director, Administration & Finance

Portfolio companies 54

3PBIOVIAN
3pbiovian.com
Company Other Pamplona
Abanza Tecnomed
abanzamed.com
Company Seed Mutilva
Ability Pharmaceuticals
abilitypharma.com
Company Other Cerdanyola del Vallès
Air-Rops
air-rops.es
Company Seed Pamplona
Almotech
almotech.es
Company Seed Noáin
BeePlanet Factory
beeplanetfactory.com
Company Series A Orkoien
CO2 Revolution
co2revolution.es
Company Series A Madrid
Darwin Biomed
darwinbiomedical.com
Company Pre-seed Tudela
Digna Biotech
pharmatech.es
Company Other Pamplona
Dr. Platypus & Ms. Wombat
drplatypusandmswombat.com
Company Other Pamplona
Eversens
eversens.com
Company Seed Pamplona
Familiados
familiados.com
Company Seed Pamplona
Fuvex
fuvex.es
Company Series A Tudela
Greendur Technologies
greendur.com
Company Pre-seed Huarte
Homvers
homvers.com/es
Company Pre-seed Tudela
Iden Biotechnology
Company Other Pamplona
Idifarma
idifarma.com
Company Other Pamplona
IKAN Biotech
ikanbiotech.com
Company Seed Noáin
inBiot
inbiot.es
Company Seed Pamplona
InnoUp Farma
innoupfarma.com
Company Series A Pamplona
Leancleaning
leancleaning.es
Company Other Beriáin
MainRail
mainrailsolutions.com
Company Seed Pamplona
MainRail Solutions
mainrail.com
Company Seed Pamplona
Marrodan Food Technology
marrodanfoodtechnology.com
Company Other Lodosa
Medibiofarma
medibiofarma.com
Company Seed Noáin
Medical Plasmas
medicalplasmas.com
Company Seed Noáin
MOA Foodtech
moafoodtech.com
Company Series A Noáin
Multihelpers
multihelpers.com
Company Seed Pamplona
Muxunav
muxunav.com
Company Seed Noáin
Nabrawind Technologies
nabrawind.com
Company Other Pamplona
Nubapp
nubapp.com
Company Seed Pamplona
Nucaps Nanotechnology
nucapsnanotechnology.com
Company Seed Noáin
Ojer Pharma
ojerpharma.com
Company Seed Pamplona
Onna
onnahome.com
Company Other Madrid
Opportunity Health
opportunityhealth.life
Company Seed Sangüesa
Palobiofarma
palobiofarma.com
Company Other Noáin
Pentabiol
pentabiol.es
Company Other Esquíroz
Petkis
petkis.es
Company Other Beriáin
Pyroistech
pyroistech.com
Company Pre-seed Pamplona
QR4events
qr4events.com
Company Pre-seed Tudela
S21sec
s21sec.com
Company Other Madrid
SIC Lázaro
sic-lazaro.es
Company Other Corella
Stone Cooker
mesasuiseki.com
Company Other Pamplona
TedCas Medical Systems
tedcas.com
Company Seed Pamplona
Telum Therapeutics
telumtherapeutics.com
Company Series A Noáin
The Real Green Food
therealgreenfood.com
Company Other Villafranca
tuSpeaking
tuspeaking.com
Company Pre-seed Mutilva
Ubyko
ubyko.com
Company Seed Beriáin
Uptech Sensing
uptech-sensing.com
Company Other Pamplona
Vehortu
vehortu.com
Company Other Ribaforada
Velites
velitessport.com
Company Seed Pamplona
Welfare Tracker
welfaretracker.com
Company Seed Tudela
Yamy
yamy.es
Company Other Fustiñana
Ysium Medical
ysiummedical.com
Company Seed Arre

Funding rounds 35

MOA Foodtech · Series A · €3.3M
MOA Foodtech closed a €3.3M ($3.8M) round co-led by Swanlaab Innvierte Agri Food Tech and the EIC Fund, with CDTI-Innvierte participating. T…
2026-09-03
Homvers Furniture · Pre-seed · €200K
The Navarran startup, founded in early 2025, raised €200,000 (including a €100,000 participatory loan from regional development agency Soden…
2026-08-25
FuVeX · Series A · €3M
FuVeX raised an oversubscribed €3M round to scale its long-range dual-use drones across Europe and Latin America, targeting inspection of 70…
2026-08-05
Telum Therapeutics · Series A · €18M
Endolysin-antimicrobials biotech secured an €18M Series A co-led by the AMR Action Fund and Inveready to take its lead candidate against dru…
2026-06-30
Darwin Biomed · Pre-seed · €1M
Assistive-robotics startup raised a €1M pre-seed (Easo Ventures and Sodena as financial leads, Mondragon's ERREKA as industrial partner) to …
2026-05-06
Opportunity Health · Seed · €334K
Navarrese medtech Opportunity Health raised €334K with Sodena (€45K) and Easo Ventures reinforcing their earlier commitment, alongside ENISA…
2026-01-28
FuVeX · Series A · €1.7M
Navarre-based FuVeX closed the first tranche of a Series A at €1.7M, led by Navarre's public development company Sodena with a €500,000 tick…
2025-10-20
Opportunity Health · Pre-seed · €100K
Navarran medtech Opportunity Health raised €100,000 jointly from Sodena and Easo Ventures under their co-investment agreement for startups c…
2025-04-09
Muxunav · Debt · €400K
Navarre engineering firm Muxunav, which develops hardware and software for unattended payment systems, closed a €400,000 financing round cov…
2025-04-01
Ysium Medical · Seed · €800K
Navarrese medical-device company Ysium Medical, a spin-off of Vidorreta Design working in neurology, oncology, medical simulation and person…
2025-02-14
BeePlanet Factory · Series A · €5M
The Navarre-based second-life EV battery storage manufacturer closed a €5M round that brought in Santander Climate Fund, Easo Ventures (mana…
2024-12-09
MOA Foodtech · Series A · €3M
Navarre-based MOA Foodtech closed a €3M Series A led by Dutch fund ICOS Capital to scale its AI-plus-precision-fermentation platform (Albatr…
2024-06-25
inBiot Monitoring · Seed · €500K
inBiot closed a €500,000 round funded equally by Mondragon Fondo de Promoción (managed by Clave Capital) and Sodena, which each put in €250,…
2024-06-17
Medibiofarma · Other · €1M
Navarre biopharma Medibiofarma closed a €1M capital increase subscribed by the founding team together with regional public investor Sodena a…
2024-04-03
Palobiofarma · Other · €7M
Navarre-based clinical-stage biotech Palobiofarma closed a €7 million round with Inveready (via Inveready Biotech IV), regional public inves…
2024-02-12
Pyroistech · Pre-seed · €50K
Navarrese optical-spectroscopy startup Pyroistech, led by Ignacio Vitoria and part of the BerriUp accelerator since March 2023, received €50…
2023-12-07
MainRail · Seed · €854K
MainRail, a 2020 spin-off of the CEIT technology centre in Pamplona that sells predictive and corrective maintenance software for rail infra…
2023-12-05
QR4Events · Other · €80K
Navarre's public development agency Sodena backed QR4Events with €50,000, extendable to €80,000, to fund the company's commercial expansion …
2023-08-30
Almotech · Seed · €275K
Almotech is a Navarra startup behind Yenxa, a household appliance that turns used cooking oil into soap. The round funds product launch: Sod…
2022-12-17
BeePlanet Factory · Seed · €500K
ENION Venture Partners, the Barcelona-based energy-transition fund, entered the capital of Navarre company BeePlanet Factory with €500,000, …
2022-03-15
Medibiofarma · Seed · €1.2M
Navarre clinical-stage biotech Medibiofarma, based at the CEIN incubator in Noáin and founded in 2016 by the team behind Palobiofarma, close…
2022-03-15
Abanza Tecnomed · Seed · €1.2M
Navarran medtech Abanza Tecnomed closed a €1.2M round co-led by regional development agency Sodena (€350K plus the capitalisation of a €40K …
2022-03-09
Greendur Technologies · Pre-seed · €227K
Greendur Technologies, founded in 2020 by engineer Jesús Castillo to build a patented thermal battery that stores renewable energy and recov…
2022-02-16
MOA Foodtech · Seed · €1.5M
Less than a year after being founded, MOA Foodtech closed a €1.5M seed round led by Clave Capital through three vehicles (UN I+D+i Transfere…
2021-10-18
Familiados · Debt · €100K
Familiados, from Navarra, runs a platform for professional care services. It received a €100K participative loan from Sodena, Navarra's publ…
2021-04-27
Medibiofarma · Other · €615K
Navarra oncology biotech Medibiofarma raised €615K of equity: €115K from Sodena and €500K from existing shareholders. The total package was …
2021-04-22
BeePlanet Factory · Debt · €150K
BeePlanet Factory builds energy storage systems from second-life electric-vehicle batteries. It received a €150K participative loan from Sod…
2021-02-22
InBiot Monitoring · Seed · €204K
InBiot Monitoring, a company in Navarre that makes IoT devices to monitor indoor air quality, raised €204K. Sodena, the Navarre government's…
2021-02-09
InnoUp Farma · Seed
CDTI co-invested in InnoUp Farma alongside Inveready and Sodena. The amount was not given in the listing.
2021-01-28
Air-ROPS · Debt
Sodena granted Air-ROPS a participative loan. It was part of €144,000 in loans shared between IKAN Biotech, Vehortu and Air-ROPS; the per-co…
2021-01-26
Vehortu · Debt
Sodena granted Vehortu a participative loan. It was part of €144,000 in loans shared between IKAN Biotech, Vehortu and Air-ROPS; the per-com…
2021-01-26
IKAN Biotech · Debt
Sodena, Navarra's public development company, granted IKAN Biotech a participative loan. It was part of €144,000 in loans shared between IKA…
2021-01-26
CO2 Revolution · Seed · €250K
CO2 Revolution reforests large areas using drones, big data and smart seeds. It closed a €250K round with three new strategic partners, and …
2021-01-19
Eversens · Seed · €356K
Eversens is a spin-off of the Public University of Navarra (UPNA) that makes a portable exhaled nitric-oxide meter (Evernoa BASE) for diagno…
2020-07-01
Eversens · Seed · €356K
Eversens is a spin-off of the Public University of Navarra (UPNA) that makes a portable exhaled nitric-oxide meter (Evernoa BASE) for diagno…
2020-07-01

News & media 20

PublishedArticle
2026-09-21 MOA Foodtech cierra una ronda de €3,3M liderada por EIC ↗
Webcapitalriesgo
2026-08-25 Homvers impulsa con el apoyo de SODENA su mobiliario robotizado e inteligente con una ronda de 200.000 euros ↗
Webcapitalriesgo
2026-08-07 FuVeX: 3M de euros más para liderar el cielo ↗
Emprendedores
2026-08-06 FuVeX levanta €3M en una ronda sobresuscrita para inspeccionar el 70% de la red eléctrica española de distribución y liderar el mercado europeo de drones duales ↗
Webcapitalriesgo
2026-08-06 FuVeX levanta 3 millones de euros de financiación para inspeccionar el 70% de la red eléctrica española de distribución ↗
Infodron
2026-08-05 FuVeX levanta 3 millones para inspeccionar el 70% de la red eléctrica española y liderar el mercado de drones ↗
Press Digital
2026-08-05 Fuvex capta tres millones de euros para avanzar en su propuesta de soberanía tecnológica con IA y drones ↗
El Español / Invertia Disruptores
2026-08-05 FuVeX capta tres millones para impulsar sus drones de largo alcance ↗
Revista Ejecutivos
2026-08-05 FuVeX levanta tres millones de euros en una ronda sobresuscrita ↗
El Referente
2026-08-03 Julio consolida un verano récord en inversión: 672,85M€ en 38 operaciones ↗
El Referente
2026-06-29 Muxunav Closes a €400,000 Funding Round ↗
Muxunav (press release)
2026-05-06 Sodena facilitates meetings between Enisa and 16 innovative startups from Navarre ↗
Capital-Riesgo.es (EN)
2026-02-09 The Navarre-based group Saprem brings in Talde Private Equity and Sodena as majority shareholders ↗
Talde Private Equity
2025-12-23 Sodena closes 2025 reaffirming its role as a key financial instrument of the Government of Navarre in support of business development ↗
Capital-Riesgo.es (EN)
2025-07-04 CAF acquires Sodena's stake in Solaris B&C ↗
Capital-Riesgo.es (EN)
2024-11-21 Navarra Tech Transfer invierte 1,2M€ en seis proyectos innovadores ↗
El Referente
2024-06-25 MOA Foodtech secures €3 Million in Series A funding led by ICOS Capital ↗
Startups Real
2024-04-11 Jofemar Corporación, participada por SODENA, supera por segundo año su récord histórico en facturación y resultado operativo ↗
Capital-Riesgo.es (EN)
2024-03-19 Kunak asume la desinversión de Start Up Capital Navarra ↗
Capital-Riesgo.es
2023-12-21 Sodena and ECBF Agree to Identify and Finance Entrepreneurial Opportunities in the Circular Bioeconomy ↗
ECBF
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