Flame Analytics — Seed (estimated) · €800K

Gijón-based Flame Analytics, which provides location analytics and customer engagement software for physical spaces (clients include IKEA, El Corte Inglés and Alain Afflelou), closed a €1M second institutional round. It breaks down as €800,000 of equity from Bewater Funds plus a €200,000 loan from the Sociedad Regional de Promoción del Principado de Asturias; the company says it has tripled ARR for two consecutive years.