Samaipata

As Artificial Intelligence continues to reshape how tech companies are built, we’re proud to have Roberto Cruz, our Operating Partner specialized in AI, guiding Samaipata’s portfolio founders through this new wave of innovation. With over 30 years of experience in technology, Roberto has held leadership roles at IBM and leading corporations, as well as in scaleups like IDOVEN, where he received the award for Best Advanced Analytics Project in Spain; Ontruck, and TietAI. At Samaipata, Roberto helps our founders integrate AI strategically into their products and processes, translating technical potential into real, sustainable business value. His expertise reinforces our mission to empower early-stage founders with top-tier operational knowledge. Learn more about Roberto’s role and how AI is shaping Samaipata’s portfolio in the news (link in comments). Thanks to La Vanguardia for covering the story!

Today marks the start of Bits & Pretzels, and we didn’t want to miss it! Our Partner Luis Garay will be in Munich throughout the 3-day event. You can catch him today at the ICEX side event, joining a roundtable discussion alongside Nico de Luis (Co-founder of Shakers), Gonzalo 🛸 Pérez, (Head of Investments at Wayra) and Joseba Sagastigordia (Managing Director at MONDRAGON Ventures), moderated by Jose Maria Blasco Ruiz, Executive director of Growth and Competitiveness at ICEX) and Munoz Lucinio (Economic and Commercial Counselor at the Spanish Embassy in Berlin). Join us to learn how Spain is leading innovation and shaping the future of tech and entrepreneurship. And if you’re around on Wednesday, don’t miss the chance to meet Luis at Oktoberfest, where he’ll be participating as a Table Captain. See you there! 

Last week, we gathered an intimate group of senior executives to explore a critical question: how can large corporations move from AI pilots to real business transformation? Together with an exceptional lineup of speakers - Ismael Ruiz (VP Digital Transformation, Suntory Global Spirits), Josemaría Lucas, CFA (Co-founder & CEO, Tuio), Guillem Oliva de Fuenmayor (Co-founder & CEO, Konvo AI), and Kai Brandt (Co-founder & CEO, Genesy), we came up with interesting insights, here are some key takeways: 1️⃣ Start small, scale big Quick wins from small projects build credibility and momentum — paving the way for multimillion-dollar savings or revenue use cases. 2️⃣ Buy > Build (most of the time) Vendors handle compliance, update faster, and attract top AI talent. Build only makes sense for extreme fit, sensitive data, or heavily regulated contexts.  3️⃣ Startups vs Aggregators Aggregators (e.g., Salesforce) provide integration, security, and governance. Startups innovate faster and deliver sharper fit. The winning strategy? A mix: trusted horizontal platforms + best-of-breed startups for critical use cases. 4️⃣ Convincing management  FOMO is real. Missing out on AI means losing competitiveness. The message to the C-suite: it’s not about “trying AI,” it’s about focusing on a few high-ROI use cases. A big thanks to Angel Gutierrez Borjabad (Founder, 7R Ventures), who moderated the discussion, and to all speakers and guests for the intense debate. At Samaipata, we believe the future belongs to those who dare to experiment, learn fast, and build bridges between startups, corporates, and investors. And this is only the beginning.

Congrats to the Konvo AI team on their Seed round, led by Samaipata! Founded in Berlin by Guillem Oliva de Fuenmayor and Scott Kapelewski, Konvo is redefining eCommerce customer service with proactive AI Agents that don’t just chat, but take autonomous, real-world actions. From contacting a courier to resolve a delivery issue to making personalized product recommendations, Konvo is transforming customer support from a cost center into a revenue engine. The round was led by Samaipata, with participation from our friends at Abac Nest Ventures, JME Ventures, and Itnig - Startup Ecosystem as well as key angels and industry figures including Xavier Pladellorens (Deporvillage) and Tomás Pueyo (ex-CPO, Ankorstore). Huge congratulations to Guillem, Scott, and the entire Konvo AI team on this milestone. At Samaipata, we believe Konvo AI is building a category-defining company — shifting customer service from reactive ticketing to proactive engagement. We look forward to being part of the journey as they scale across Europe and continue to pioneer the future of AI-driven commerce. You can find the link to the announcement in the comments.

Great news! Nory has raised a $37M Series B round led by Kinnevik, with participation from Accel, Base10 Partners, TriplePoint Capital and Samaipata! This raise is a huge testament to the company's amazing progress since we led their Seed round back in 2023. Founded in 2021 by Conor Sheridan, Nory is transforming restaurant operations with its AI-first management platform. By automating time-consuming back-office tasks and delivering real-time, data-driven recommendations, Nory enables operators to cut costs, unlock efficiency, and focus on what matters most: creating outstanding dining experiences. This new funding will enable Nory to accelerate product development, expand its AI assistants, and scale operations in the US, as the company doubles down on its mission to empower restaurants to thrive despite mounting industry challenges. Huge congratulations to Conor and the entire Nory team on this milestone. Since leading their Seed round back in 2023, and through our continued support in their Series A and now Series B, we remain confident in Nory’s potential to become a global leader in hospitality tech. You can find the link to the news in the comments.

Congrats to HappyRobot on their freshly announced $44M Series B! We were lucky enough to have Pablo Palafox join us on the Samaipata podcast to share the details of this fundraising round. We also talked about: - The whirlwind of pivots that shaped HappyRobot’s early days. - The challenge of scaling AI infrastructure to handle thousands of client interactions overnight. - The balance of raising fast and big while keeping discipline at the core. It’s the story of a Spanish-founded company building one of the fastest-growing enterprise AI platforms in the US — and doing it at hyperspeed. Listen to the conversation in the comments to learn more about the round!

What does it look like to re-underwrite conviction in a startup you already backed? In his latest Samaipaiata Insights piece, Íñigo Laucirica Subrá reflects on our journey with VIVLA - from our first investment in 2022 to today’s $8M round - and shares how our understanding of the company has matured as the business has grown. The essay goes beyond a retrospective: it’s a structured, forward-looking re-underwriting of our thesis using Hamilton Helmer’s 7 Powers framework - offering a rare look at how conviction evolves over time when things go right. This is the kind of thinking that shapes how we invest. And how we stay invested. Read the full essay in the comments!

We’re excited to announce that we are leading an €8M round in VIVLA, the European leader in premium second-home fractional ownership. This funding round - joined by Bonsai Partners, FJ Labs, and other investors - will support VIVLA’s international expansion. Already profitable, VIVLA has already built an impressive portfolio of 60 properties in Spain’s most sought-after destinations and manages over €80M in AUMs. Huge congratulations to Carlos Emilio Gómez, Carlos Floría Martín, and the entire VIVLA team on this new chapter!

The Samaipata Podcast: Episode 5! This time we sit down with Sergio Furio, founder & CEO of Creditas, one of Latin America’s most capitalized fintechs. We dive into his journey from BCG and Deutsche Bank to launching Creditas in Brazil - a company built around a clear mission: reducing the cost of credit in a broken system. From lead gen marketplace to full-stack lender and fund manager, Sergio shares how Creditas evolved through pivots, macro shifts, and critical cash calls. A sharp, tactical episode with a founder who has done it and is now backing the next generation as an angel and LP. Episode link in the comments (in Spanish)

One of the biggest challenges in early-stage VC is seeing companies make it from Seed to Series A. Based on Crunchbase data, fewer than 15% of Spanish startups do 4 years after raising their seed. At Samaipata, over 70% of our portfolio companies have reached Series A—often backed by top international firms. A strong graduation rate does not cover the full picture, but it is one of the clearest early indicators of portfolio strength. Thanks to Forbes for highlighting our work. Link in comments (in Spanish)