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Elewit
Elewit is a corporate venture capital firm based in Madrid, Spain, that prefers to invest in the Internet of things, augmented reality, and other technologies.
Elewit
Elewit is a corporate venture capital firm based in Madrid, Spain, that prefers to invest in the Internet of things, augmented reality, and other technologies. It is also a technology platform operating within the energy and telecommunications sectors.
General information
Firm type
Private Equity
Year founded
2019
Location
Region
Europe
Country
Spain
City
Madrid
Corporate office
Madrid, Spain
Principals
Fernando Presa
CEO de Nexmachina
Daniel Vila
CEO de Recognai
Juan Peña
CEO de Orbital EOS
Philip Orr
CEO de Synaptec
Gerard Fernández
CEO de Engidi
Marta Porroy
Co-founder de Alchemy ML
Sector focus
Frequently asked questions
What is Elewit's relationship to Redeia?
Elewit is the wholly owned corporate venture platform of Redeia, the Spanish electricity and telecommunications transmission-system operator. It was established in 2019 to invest in and partner with startups tackling innovation challenges across Redeia's infrastructure. The platform uses Redeia's operating assets as a live environment to test and validate portfolio-company technologies.
Does Elewit operate as a traditional venture fund?
No. Elewit functions as a corporate venture capital platform backed by Redeia's balance sheet rather than a traditional closed-end fund. It combines direct equity investment with a 'venture-client' model that enables startups to run proofs-of-concept on Redeia's grid. This hybrid structure means portfolio companies get both capital and a fast track to revenue through commercial pilots.
What investment stages does Elewit typically target?
Elewit invests across early-stage venture — seed, startup, and expansion/late-stage rounds — consistent with its focus on technology validation and commercial scaling. The venture-client program is especially suited to seed and Series A companies that need a complex industrial sandbox to harden their products.
Which sectors does Elewit explicitly avoid?
Elewit's mandate is confined to technologies with direct application to electricity transmission, distribution, and telecommunications infrastructure. It does not invest in consumer internet, generalist SaaS, healthcare, or other sectors outside Redeia's six defined innovation challenges.
How does Elewit source proprietary deal flow?
Deal flow originates through Redeia's operational units, a network of Spanish and European innovation partners (including Innoenergy, SpainCap, Endeavor, and several universities), and the firm's own venture-lab scouting. The venture-client program itself attracts startups that see the grid-access pilot as a unique non-dilutive benefit.
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