The Red Eléctrica Group and its technology subsidiary, Elewit, have joined the 'Spain: Entrepreneurial Nation Strategy', a set of 50 measures promoted by the Presidency of the Spanish Government with a 2030 horizon to modernise the production base of the Spanish economy and promote job creation through innovative entrepreneurship.

How did you get started?

FlexiDAO was founded in November 2017 as a result of a 1-year research project at UPC University by my colleague Grzegorz Bytniewsky (CTO) and I. Shortly after, Joan Collell (co-founder and COO) joined our team.

Cellnex Telecom, Lenovo and Elewit (a technology subsidiary of the Red Eléctrica Group) have led the investment round in the Barcelona-based Nearby Computing, start-up, an initiative of the Barcelona Supercomputing Center-Centro Nacional de Supercomputación (BSC-CNS) and the Polytechnic University of Catalonia (UPC), with an investment of approximately €2 million.

• The two companies have signed an agreement to market SAGA, an Elewit software that will enable electricity transmission and distribution companies to manage the maintenance and renewal of their network assets more efficiently.
• SAGA is a unique solution in the market because it combines the electricity infrastructure management experience and knowledge of the Red Eléctrica Group, Elewit's parent company, and IBM’s potential and leadership in artificial intelligence and advanced data analysis, using IBM Maximo APM for Energy and Utilities.
• In an increasingly demandi

Zeleros Hyperloop has completed a financing round worth more than €7 million. The company starts a new and important phase in the development of its unique version of hyperloop, the “fifth mode of transport”, the best alternative for the future to connect efficiently and sustainably long-distance routes for passenger and cargo transportation. Connections like Paris – Berlin could be reduced to less than an hour.

The Positive Energy+ platform estimates an initial investment of 4.19 million euros for the final 12 start-ups selected from the urgent call launched on 7 April. The initiative, which received 396 proposals in just thirteen days, closed successfully on 19 April and during the virtual Positive Energy+ Demo Day some of the finalists were announced.

CounterCraft, a European cybersecurity software company, today announced it has secured $5 million in additional funding. The financing round was led by Adara Ventures, joined by new investors eCAPITAL and Elewit, with participation from existing investors including Evolution Equity Partners, ORZA, and Wayra (Telefonica’s Open Innovation Hub).

This week the innovation ecosystem is looking south. Granada is holding Alhambra Venture, the forum for innovation, investment and entrepreneurship promoted by IDEAL. Elewit will also be taking part in this important event, and we will do so in coordination with Elena de Benavides, our Open Innovation & Entrepreneurship Lead who will present our strategy for open innovation and the main milestones in this field.

The Elewit ecosystem is growing! We have joined the BIDA Observatory (Spanish Observatory for Big Data, Artificial Intelligence and Data Analytics), that includes experts in the various digital tools that make it possible to start these projects that aim at speeding up digitalisation of companies and improving their position in the sector.

The Positive Energy+ platform has selected 14 projects from the 396 proposals received after the launch of its urgent call to tender last April. The proposals, which offer solutions to alleviate the economic and social impact of COVID-19, were presented at the Positive Energy+ Demo Day event, held virtually yesterday afternoon and organised by the corporations promoting the initiative: Enagás, Elewit, CLH, Iberdrola, bp, EIT InnoEnergy, Acciona, Capital Energy and DISA.