Bioo - Revolutionizing energy with nature: light-emitting plants, sounds and eco-design (raising through crowdfunding)

Startup Analysis #3 - Check out this revolutionary startup that brings nature into eco-spaces; plus news on VC Startup Deals - ifeel, Grubtech, Oscar, Lexdoka, and Stoic.

Welcome to another edition of How to land in Venture Capital: a weekly newsletter on the new ventures’ ecosystem. On this episode we will deep-dive into a startup called Bioo, a biotechnology company that leverages natural energy through cutting-edge technologies.

My name is Conrad and I write about How to land in Venture Capital and Deal Flow Startup Analysis. I help founders and investors achieve their goals by connecting both parties to financing opportunities. Additionally, I love to provide mentorship to guide startups on how to secure funding.

If you want to chat, drop me an email at conrad.carbonell@iese.net.

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Looking for a job in the startup ecosystem?

This companies has recently raised capital, they might need some people!

News on Iberian VC Investment Deals

ifeel, an operator of a psychological support platform intended to make effective mental healthcare more scalable. Based in Madrid, recently raised $20 million of Series B venture funding.

Grubtech, a developer of a hyperconnected F&B platform and operating system intended to help manage the restaurant business, based in the UAE and with presence in Barcelona, Spain, raised €15 million of Series B venture funding.

Oscar, a developer of home services application designed to offer repair and maintenance and other related services to customers based in Lisbon, Portugal, raised €6 million in a seed stage. The fund will be used to consolidate their ops in Iberia and to expansion to Europe.

LexDoka, a developer of a contract management platform designed a platform that offers features including automated contract generation, negotiation tools, digital signatures, and contract repositories, enabling businesses to streamline their contract workflows and improve efficiency. Based in Barcelona, they raised €300k of venture funding.

Stoic, a developer of a transformation platform designed to develop team leaders based in Oviedo, Spain, raised €250k of venture funding. The funds will be used to support the improvement and expansion of platform.

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Remember, here you can find the post on how to analyze startups:

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Today’s company: Bioo

Bioo is a biotechnology company that leverages natural energy through cutting-edge technologies. Their primary focus is on integrating nature with technology to create sustainable solutions that improve the quality of life.

In simple terms, Bioo provides innovative green technologies that generate electricity from nature, aiming to build biotechnological buildings and cities.

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Team

Bioo is led by a diverse team of experts in biotechnology, engineering, and business. The core team includes:

• Pablo Vidarte (CEO & Founder): With a strong background in business and biotechnology, Pablo is the visionary behind Bioo's innovative projects.
  Forbes 30 under 30 Europe.

• Joaquín Vidal (CTO): Joaquín oversees the technological advancements at Bioo.

• Luis Casado (COO): he led family-owned companies with up to €30 million of annual turnover in LATAM and EMEA in farming, food, and automotive sectors developing growth strategies to serve billion revenue customers.

• José Antonio Sobrino (CSO): As the Chief Scientific Officer, José Antonio leads the research and development efforts, focusing on integrating biotechnology with practical applications.

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Market Opportunity

The demand for sustainable and renewable energy solutions is growing rapidly. Bioo is positioned to capitalize on this trend by offering unique products that harness the power of nature. The global push towards green energy and sustainable development presents a significant market opportunity for Bioo’s innovative technologies.

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Problem

Traditional energy sources are unsustainable, leading to environmental degradation and resource depletion. There is a pressing need for renewable energy solutions that can seamlessly integrate into everyday life and infrastructure.

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Solution

Bioo addresses this need by developing products that generate electricity from biological sources, such as soil and plants. Their main products include:

1. Bioo Panel

Generates electricity from the soil using microbial fuel cells, providing a sustainable energy source for various applications.

2. Bioo Switch

Uses plant interaction to control electronic devices, offering a unique and eco-friendly way to manage energy consumption.

3. Bioo Lumina

Creates bioluminescent plants that reduce the need for traditional lighting, enhancing energy efficiency.

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Customer and Business Model

Bioo operates in the B2B sector, targeting industries such as urban planning, smart cities, and agriculture. Their business model includes:

• Direct Sales: Selling their products directly to urban developers and agricultural businesses.

• Partnerships: Collaborating with governments and corporations to integrate their solutions into large-scale projects.

• Licensing: Licensing their technology to other companies looking to implement sustainable energy solutions.

Client Applications

Bioo's technologies can be used in various sectors, including:

• Urban Planning: Integrating Bioo Panels in green spaces to generate sustainable energy.

• Smart Cities: Utilizing Bioo Switch and Bioo Lumina to enhance energy efficiency and sustainability.

• Agriculture: Implementing Bioo's solutions to reduce irrigation needs and enhance crop growth with sustainable energy sources.

Go-To-Market Strategy

Bioo employs a multifaceted strategy to penetrate the market:

1. Targeted Outreach: Focus on industries with high sustainability demands.

2. Partnerships: Collaborate with urban planners and governments for large-scale implementations.

3. Demonstrations and Trials: Offer pilot programs to showcase the effectiveness of their technologies.

Feasibility and Scalability

• Feasibility: Bioo’s technologies have been proven effective in lab settings and initial market trials.

• Scalability: The production process for Bioo’s products can be scaled to meet large demands, and the technology is adaptable to various applications.

Defensibility

Bioo’s competitive edge lies in the technical complexity and proprietary nature of their biotechnological solutions. Their innovations in microbial fuel cells and bioluminescence offer significant protection against competitors.

Competition

While Bioo offers unique solutions, they face competition from established players in the renewable energy and sustainable technology markets:

• Plant-e: power generation from living plants

• Tesla Solar: Known for solar energy solutions.

• Siemens: Offers a range of sustainable energy technologies.

• Philips Lighting: Provides energy-efficient lighting solutions.

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Traction and Achievements

Bioo has achieved significant milestones, validating the potential and market readiness of their technology:

• Pioneering Innovation: Bioo created the world’s first biological battery, a groundbreaking product capable of generating returns from any urban green space.

• Recognition: Awarded by the European Parliament as the most innovative company in Europe and recognized by Google as the most disruptive globally.

• Leadership: Pablo Vidarte, CEO of Bioo, has been listed in Forbes 30 Under 30 since the age of 20 and is a member of Emmanuel Macron's Council of 100.

• Unique Capability: Bioo is the only company that not only saves on consumption but also generates resources and direct economic returns in the agricultural and urban sectors.

• Strategic Partnership: Preparing to launch in the agricultural sector with Bayer CropScience, which oversees more than 50 million hectares of agricultural land worldwide.

• Financial Performance: The company has maintained a positive EBITDA since its inception, showcasing strong financial health and sustainable growth.

Capital:

They have recently raised €900k in crowdfunding, still looking for €100k; and, until the date, they had raised almost €60 million.

Patents:

From Aug 2022 to Dec 2023, Bioo has developed 5 patents for they products:

• Device for producing energy and use thereof

• Organic switch lamp

• Device for producing energy and use thereof

• Lamp with organic switch

• Detection module, interface systems and method

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Should we invest?

Yes, because:

• Innovative Solution: Bioo’s biotechnological products offer a novel approach to renewable energy.

• Market Demand: There is a growing need for sustainable energy solutions.

• Strong Team: The founders and team members bring complementary expertise in biotechnology and business development.

• Scalability: Bioo’s products are scalable and adaptable to various applications.

No, because:

• Competition: The market includes established players with significant resources.

• Execution Risk: Ensuring successful market adoption and scaling poses challenges.

• Regulatory Challenges: Compliance with evolving environmental regulations could impact operations.

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Disclaimer 1: I am not gaining any financial or other personal benefits from announcing or promoting this startup. My purpose is solely to provide information based on the available data.

Disclaimer 2: the information provided is for informational purposes only and does not constitute investment advice. I encourage readers to conduct their own research and due diligence before making any investment decisions.