Fundeen — Seed (estimated) · €1.2M

Fundeen closed a €1.2M capital increase bringing Spain's public energy agency IDAE and independent power producer Grupo Enhol onto its cap table alongside several private investors; no lead was named in the announcements. IDAE's contribution took the form of a participative loan with subsequent conversion into equity. This close appears to be the outcome of the roughly €900,000 round Fundeen opened in October 2019, which by December 2019 had about a third committed by private investors with two funds in final stages.