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Appentra raises EUR1.8m in funding round led by Armilar Venture Partners and K Fund

Appentra, a spin-off of La Coruña University, has raised EUR1.8 million in a new investment round led by Armilar Venture Partners and K Fund, also joined by Caixa Capital Risc, Xesgalicia and Unirisco, the investors that had already trusted the company since its very early stages. The new investors will bring a strong expertise as international VCs specialised in B2B software companies, and will help to fully realise Appentra’s vision.

Since its foundation, Appentra has become a reliable partner and software supplier among its customers in the United States, Saudi Arabia and Europe. Closing this round of investment successfully contributes to improve the confidence and trust of its main stakeholders.

Pedro Ribeiro Santos, a Partner at Armilar Venture Partners, says: “Over the course of the last decade we have been watching how computing architectures are incorporating more (and different) parallel processing units, and yet the vast majority of applications are still being developed under a “standard” sequential coding approach. Parallel code can truly potentiate real-time systems and faster or more elaborate decision models but it is a complex discipline and there is a shortage of skilled parallel developers. Appentra has the potential to be in the driver’s seat of this huge opportunity, helping developers build bug-free parallel code. It is a great example of a unique technology with roots in academia, shaped over more than ten years of research by a great team of founders, addressing a key market need, and backed by a very strong group of investors. It’s with great enthusiasm that we join this journey.”

Xavier Álvarez, ICT Director at Caixa Capital Risc, also notes that: “This deal is an example of our commitment with companies with a promising future and innovative solutions based on technology.

“Appentra is a project that perfectly matches the spirit we’re looking for in companies when it comes to investing. It has a solid project and a very attractive product which makes it a company with a high potential growth.”

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