LUMO Labs, a Dutch venture capital fund, has announced a strategic move to establish its operations in Spain and Portugal from the Norrsken House in Barcelona. This decision aims to bolster access for startups in the region to LUMO Labs’ capital, expertise, and extensive network. This development underscores the fund's commitment to supporting the burgeoning startup ecosystem on the Iberian Peninsula.

Investment Commitment

Recently, LUMO Labs revealed its new 100 million EUR successor fund dedicated to the commercialization of emerging digital technologies aimed at creating a greener and more robust society. Over the next four to five years, the fund plans to invest in approximately 34 to 35 impact-driven startups across Europe. In addition to its previous focus on early-stage companies in the Netherlands, Germany, and Belgium, LUMO Labs is now actively seeking innovative startups from Spain, Portugal, Scandinavia, and the Baltic States.

A Hub for Impact Tech

The Norrsken Foundation, known for establishing Europe’s largest hub for technology and impact, opened its doors in Barcelona just under a year ago. Located in a stunning 10,000 square meter beachfront building, the facility has become a focal point for tech-driven initiatives aimed at making a social impact. The addition of LUMO Labs as a global partner exemplifies the growing significance of this hub and reflects the city’s dedication to fostering an environment conducive to innovation and entrepreneurship.

Andy Lürling, the founding partner of LUMO Labs, expressed excitement about the new location. He noted, “With our presence in Barcelona, we intend to reinforce the Impact-Tech Axis between the North and South of Europe. Over the last four years, with our previous fund, we have been actively reviewing startups from across Europe. We chose Barcelona as our regional hub because here we see the highest activity of impact-driven tech startups that match our investment thesis.”

Strengthening Local Ecosystems

Jorge Blasco, LUMO Labs’ partner for Spain and Portugal, highlighted the significance of the Norrsken House as a collaborative space. He stated, “Norrsken House Barcelona makes it possible to literally come together. It is great to see LUMO land in Barcelona. The collaboration from local authorities, such as Barcelona Activa, the city council, ACCIO, and ICF, has been great, and we look forward to intensifying our contribution to the local startup ecosystem.”

The Deputy Mayor of Barcelona, Jordi Valls, recognized the impact of LUMO Labs’ presence on the local startup landscape. He mentioned that the fund’s commitment to projects with social and environmental impact aligns with the city council’s policies aimed at fostering economic growth through technological innovation while addressing climate change. Valls emphasized that the fund enhances the options available to the local ecosystem for securing appropriate funding tailored to their business models.

Encouraging a Culture of Innovation

Marc Jordana Soldevilla, CEO and Co-founder of Norrsken Barcelona, emphasized the importance of entrepreneurship and technology in shaping a better future. He stated, “We believe that entrepreneurship and new technologies are forces that can build a better tomorrow. We are delighted that international venture capital firms investing in technology like LUMO choose Norrsken as their main base in Barcelona. We are starting to see an increasing number of startup founders choosing to focus on impact, climate technologies, deep tech, and other emerging technologies, all of which need funding and support to reach the market.”

LUMO Labs' establishment in Barcelona marks a significant milestone for the startup ecosystem in Spain and Portugal. By facilitating access to capital and resources for impact-driven startups, the fund is poised to foster innovation that addresses pressing social and environmental challenges. As LUMO Labs joins the vibrant community at the Norrsken House, its commitment to nurturing a collaborative environment will be crucial in driving the future of impact technology across Europe. This development not only reinforces Barcelona's status as a key player in the tech landscape but also positions it as a pivotal hub for ventures committed to making a meaningful difference.