Telefonica Ventures, one of Spain-based telecoms company Telefonica’s corporate venturing units, and Caixa Capital TIC, the corporate venturing unit of Spain-based bank La Caixa, have invested €3m ($3.9m) in smart mobility company addFleet.
addFleet, which is part of the Inspirit Group, focuses on fleet management systems and urban mobility. The company, which was created in January 2012, will use the funds to prepare for the international launch of its M2M and cloud technology service. The service connects mobile phone users to Taxi dispatch centres
The investment in addFleet is the first by Telefonica Ventures in Spain after investments in other international technology companies such as Quantenna, Joyent and Boku.
Caixa Capital is the venture capital division of Spanish bank La Caixa. Caixa Capital uses three vehicles to invest in Spanish companies that show a high degree of growth potential and innovation: Caixa Capital BioMed, Caixa Capital TIC and Caixa Capital Micro.
Caixa Capital TIC invests in the area of internet technologies and the internet. Its portfolio currently includes Privalia, Groupalia, Zyncro, Goodeal, i-neumáticos, Apesoft, Genasys, KD Pof, Urbiótica and vLex.