QUIXOTIC funding news – Madrid-based QUIXOTIC Secures €1.3 Million in Seed Funding

Demium, a venture capital firm based in Valencia that has supported businesses like Citibox, Holaglow, Dealcar, Ilumo Robotics, and Singularu, and Bynd Venture Capital, a Portuguese venture capital fund with over 14 years of experience specialising in seed or early stage investments in technology startups, have jointly led this operation. International business angels and Pedro Buerbaum and Thomas Rebaud's investment platform Akka, formerly known as Blast, have also backed it.

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To further accelerate its expansion, the company also intends to add financial financing through the National Innovation Company, or ENISA. In the upcoming months, QUIXOTIC will be able to further fortify its expansion and innovation plan thanks to this extra assistance.

With these funding, the business plans to further develop its SaaS platform in order to provide new, fully integrated cloud products and support the growth of the green economy.

Established in 2021, the company draws from the technological consulting experience of its founding team for the energy industry in Spain. With nearly twenty highly qualified professionals, it serves 17 clients, including brands from the Repsol group and MasOrange, the new group formed by the merger of MásMóvil (which includes MásMóvil Energía, Lucera, PepeEnergy, etc.) with Orange, a French company. QUIXOTIC has grown by 300% in the past year in comparison to the prior year.

Omar Sequera, co-founder and co-CEO of QUIXOTIC, said: “We are very grateful for the trust placed in our team and our platform. This milestone will allow us to continue accelerating the digitalization and democratization of the energy sector, making it easier for any marketer, regardless of its size, to compete on equal terms with large companies. We are transforming the way energy is managed and consumed, and collaborating to reduce energy poverty in our country.”

Tomás Penaguião, partner at Bynd Venture Capital, added: “We are very excited to announce our investment in QUIXOTIC. The founding team, with extensive experience in the energy sector, has developed innovative software that offers clear value to customers through cost savings, error minimization and regular updates. We believe that the company is in a privileged position to drive significant change in the digitalization of the energy sector.”

Jorge Dobón, founder of Demium Capital, said: “At Demium we are confident that the recent changes in the energy sector open up many possibilities for companies such as Quixotic, which aim to help marketing companies and energy communities adapt to an increasingly changing environment through cross-functional software.”

As distributed generation and community self-consumption gain more traction, the energy market is shifting towards more accessible and sustainable solutions. With the ability to share excess green energy, lower energy costs, and create more sustainable local economies, energy communities are emerging as a critical answer for businesses and residents.

About QUIXOTIC

QUIXOTIC is a modular platform for energy companies and communities: contracting, billing, integrations, collections… QUIXOTIC automates manual tasks end-to-end so you can focus on the customer.