The Institution for Knowledge, Madri+d, and the platform, Dealroom, have presented a report that lists the most highly valued startups in the Madrid community. Wiyo was ranked second, valued at €65 million.
The report corresponds to the fourth quarter of the year and analyzes energy and clean technology startups in the Madrid region. Currently, there are 674 startups in this sector in Spain, of which 23% are in Madrid, corresponding to a total of 153.
In terms of investments, these businesses have received $12.7 million this year and have created 2,900 new jobs in the capital of Spain. The study has ranked the best-valued companies in Madrid. Wiyo, a company founded by Danny Moreno Levy and Patricia Fermín de Moreno, ranked second with a valuation of €65 million. The report indicates that it is the first platform to develop a data provider system based on IoT. It also praises its disruptive battery-free technology that only uses Wi-Fi.
In first place is the photovoltaic company Soto Solar, with €200 million. Following Wiyo are Alga Energy with €50 million, Energy Solar Tech with €40 million, and Beridi, ADEX, and Ezzing Solar with €25 million each.
A decarbonized Spain by 2050
Spain aims to achieve the complete decarbonization of energy by 2050. This challenge involves progress in alternative energies and an opportunity to generate employment and economic growth. Because of this, it has become an ideal ecosystem for investment and growth of innovative startups in energy and efficiency to facilitate achieving this goal.
The first phase of this goal is to reduce greenhouse gas emissions by at least 20% by 2030 compared to 1990 data. As well as to generate at least 74% of electricity from renewable sources.
Furthermore, it is also expected to ensure that 35% of final energy consumption comes from alternative sources and improve the country’s energy efficiency by 35%.
On the other hand, for the second phase, which ends in 2050, the aim is to achieve complete use of renewable energy and reduce emissions by 90%, as established in the Paris Agreement on Climate Change.