Bullnet Capital

Bullnet Capital is an independent venture capital firm founded in 2001 and based in Pozuelo de Alarcón, Spain. The firm specializes in early-stage to development capital financing, focusing primarily on technology-oriented projects, particularly in software, hardware, and high-value-added services. Bullnet Capital typically invests between €1 million and €2.5 million in its portfolio companies, while also being open to considering both smaller and larger investment rounds. The firm actively seeks co-investment opportunities in larger projects and primarily targets companies that are originated and based in Spain, with a particular emphasis on healthcare and technology sectors.

Carmen Arenzana

Finance Director

Miguel del Cañizo

Founding Partner

José Luis Gómez

Investment Manager

Javier Ulecia

Founding Partner

32 past transactions

2EyesVision

Series A in 2023
2Eyes Vision S.L is a technology company based in Madrid, Spain, specializing in visual diagnostics and corrections. Founded in 2015 as a spin-off from the Spanish National Research Council (CSIC), it focuses on addressing presbyopia, an age-related ocular condition affecting individuals over 45 years old. The company's flagship product, SimVis, is a pioneering technology that allows patients to experience multifocal corrections in real-world scenarios prior to undergoing intraocular lens implantation, refractive surgery, or contact lens fitting. This innovative visual simulator enhances the clinical practice of ophthalmology by enabling opticians to provide personalized, noninvasive assessments for patients considering refractive or cataract surgery, ultimately improving patient outcomes and experiences.

2EyesVision

Series A in 2022
2Eyes Vision S.L is a technology company based in Madrid, Spain, specializing in visual diagnostics and corrections. Founded in 2015 as a spin-off from the Spanish National Research Council (CSIC), it focuses on addressing presbyopia, an age-related ocular condition affecting individuals over 45 years old. The company's flagship product, SimVis, is a pioneering technology that allows patients to experience multifocal corrections in real-world scenarios prior to undergoing intraocular lens implantation, refractive surgery, or contact lens fitting. This innovative visual simulator enhances the clinical practice of ophthalmology by enabling opticians to provide personalized, noninvasive assessments for patients considering refractive or cataract surgery, ultimately improving patient outcomes and experiences.

2EyesVision

Funding Round in 2022
2Eyes Vision S.L is a technology company based in Madrid, Spain, specializing in visual diagnostics and corrections. Founded in 2015 as a spin-off from the Spanish National Research Council (CSIC), it focuses on addressing presbyopia, an age-related ocular condition affecting individuals over 45 years old. The company's flagship product, SimVis, is a pioneering technology that allows patients to experience multifocal corrections in real-world scenarios prior to undergoing intraocular lens implantation, refractive surgery, or contact lens fitting. This innovative visual simulator enhances the clinical practice of ophthalmology by enabling opticians to provide personalized, noninvasive assessments for patients considering refractive or cataract surgery, ultimately improving patient outcomes and experiences.

Fyla

Funding Round in 2022
Fyla Laser S.L. is a manufacturer based in Valencia, Spain, specializing in fiber laser technology. Founded in 2006, the company produces a range of laser products, including white in-fiber lasers, ultrafast pulsed lasers, and various accessory modules. These advanced laser systems are designed for industrial applications in sectors such as materials processing, bio-imaging, and industrial metrology. By focusing on the design, development, and commercialization of laser technologies, Fyla aims to lead the transformation of the industry towards photonics, facilitating the emergence of new sectors and applications while emphasizing quality and profitability for its clients and stakeholders.

Fyla

Funding Round in 2021
Fyla Laser S.L. is a manufacturer based in Valencia, Spain, specializing in fiber laser technology. Founded in 2006, the company produces a range of laser products, including white in-fiber lasers, ultrafast pulsed lasers, and various accessory modules. These advanced laser systems are designed for industrial applications in sectors such as materials processing, bio-imaging, and industrial metrology. By focusing on the design, development, and commercialization of laser technologies, Fyla aims to lead the transformation of the industry towards photonics, facilitating the emergence of new sectors and applications while emphasizing quality and profitability for its clients and stakeholders.

2EyesVision

Venture Round in 2020
2Eyes Vision S.L is a technology company based in Madrid, Spain, specializing in visual diagnostics and corrections. Founded in 2015 as a spin-off from the Spanish National Research Council (CSIC), it focuses on addressing presbyopia, an age-related ocular condition affecting individuals over 45 years old. The company's flagship product, SimVis, is a pioneering technology that allows patients to experience multifocal corrections in real-world scenarios prior to undergoing intraocular lens implantation, refractive surgery, or contact lens fitting. This innovative visual simulator enhances the clinical practice of ophthalmology by enabling opticians to provide personalized, noninvasive assessments for patients considering refractive or cataract surgery, ultimately improving patient outcomes and experiences.

Anyverse

Series A in 2020
Anyverse specializes in the production of high-confidence synthetic datasets aimed at enhancing the training and testing of autonomous systems such as autonomous vehicles, advanced driver-assistance systems, unmanned aerial vehicles, and smart cameras. The company utilizes a proprietary rendering engine that provides photometric-accurate light simulation, ensuring reliable outputs. Its software solutions enable users to have comprehensive control over various factors, including sensor specifications, scenario dynamics, and environmental variability. By employing physics-based data generation technology, Anyverse allows organizations to simulate a wide range of real-life conditions, such as different lighting and weather scenarios, thereby facilitating the development of perception models in shorter training cycles.

Anyverse

Series A in 2020
Anyverse specializes in the production of high-confidence synthetic datasets aimed at enhancing the training and testing of autonomous systems such as autonomous vehicles, advanced driver-assistance systems, unmanned aerial vehicles, and smart cameras. The company utilizes a proprietary rendering engine that provides photometric-accurate light simulation, ensuring reliable outputs. Its software solutions enable users to have comprehensive control over various factors, including sensor specifications, scenario dynamics, and environmental variability. By employing physics-based data generation technology, Anyverse allows organizations to simulate a wide range of real-life conditions, such as different lighting and weather scenarios, thereby facilitating the development of perception models in shorter training cycles.

LeanXcale

Venture Round in 2018
LeanXcale SL provides a big data platform. It offers LeanXcale, an ACID full SQL database (OLTP database) for blending OLTP and OLAP functionalities and polyglot data management applications. The company’s LeanXcale also provides analytical queries over operational data. LeanXcale SL was incorporated in 2015 and is based in Madrid, Spain.

Fyla

Funding Round in 2018
Fyla Laser S.L. is a manufacturer based in Valencia, Spain, specializing in fiber laser technology. Founded in 2006, the company produces a range of laser products, including white in-fiber lasers, ultrafast pulsed lasers, and various accessory modules. These advanced laser systems are designed for industrial applications in sectors such as materials processing, bio-imaging, and industrial metrology. By focusing on the design, development, and commercialization of laser technologies, Fyla aims to lead the transformation of the industry towards photonics, facilitating the emergence of new sectors and applications while emphasizing quality and profitability for its clients and stakeholders.

2EyesVision

Venture Round in 2017
2Eyes Vision S.L is a technology company based in Madrid, Spain, specializing in visual diagnostics and corrections. Founded in 2015 as a spin-off from the Spanish National Research Council (CSIC), it focuses on addressing presbyopia, an age-related ocular condition affecting individuals over 45 years old. The company's flagship product, SimVis, is a pioneering technology that allows patients to experience multifocal corrections in real-world scenarios prior to undergoing intraocular lens implantation, refractive surgery, or contact lens fitting. This innovative visual simulator enhances the clinical practice of ophthalmology by enabling opticians to provide personalized, noninvasive assessments for patients considering refractive or cataract surgery, ultimately improving patient outcomes and experiences.

LeanXcale

Venture Round in 2016
LeanXcale SL provides a big data platform. It offers LeanXcale, an ACID full SQL database (OLTP database) for blending OLTP and OLAP functionalities and polyglot data management applications. The company’s LeanXcale also provides analytical queries over operational data. LeanXcale SL was incorporated in 2015 and is based in Madrid, Spain.

wooptix

Series A in 2016
A word About US.A bunch of visionary people. Scientific scouts. Daring entrepreneurs. Just a crew of dreamers, all with a common goal. Improving Human Experience.They give a Key to interact with the world through your imagination & our technology. Is a new way to play with the environment. Mountains. Trees. Clouds. Flowers. Rivers. Rocks. Animals. Waves. People. Friends. And a new way to show your feelings. flying, exploring, Surfing & Underwater.

Visure Solutions

Series B in 2014
Visure Solutions define Requirements Definition and Management as a global set of different activities where requirements specification and subsequent management thereof are not sufficient and other activities are required, such as requirements Capture, Analysis, Verification and Validation, without forgetting to carry out adequate change Configuration and Control Management, in addition to the traceability of the requirements to the rest of the project elements. Visure not only helps its clients to expedite the Requirements Definition and Management implementation process but also to use and manage it, through the use of different mechanisms and training, evaluation and specialized consulting activities.

UAV Navigation

Venture Round in 2012
UAV Navigation is a privately-owned company based in Madrid, Spain, specializing in the design and manufacture of flight control and motion processing systems for unmanned aerial vehicles (UAVs). Founded in 2004, the company provides navigation and autopilot solutions, including its AP04 autopilot system, HCAP avionics system, and AH01 motion processor. UAV Navigation also offers additional components such as magnetometers and engine monitors. The company's VECTOR SDK software allows users to develop custom flight control laws, modes, and telemetry systems, enhancing communication between the autopilot and ground control stations. Its technology serves a diverse array of markets, including aerospace, sporting goods, consumer electronics, and automotive applications. With a multinational team of experts in aerospace, microelectronics, and aeronautical engineering, UAV Navigation has established itself as a key player in the UAV industry, catering to tier 1 aerospace manufacturers and expanding its innovative solutions across various sectors. The company maintains an ISO9001 certification and operates through a global distributor network.

KDPOF

Venture Round in 2012
KDPOF is a Spanish company located in Madrid whose mission is the development of technology for high capacity communications over Large Core Plastic Optical Fiber (POF), covering from the system definition to the digital integrated circuits design. Its POF communication technology combines key elements belonging to the state of the art of digital communications and information theory to provide an adaptive and efficient system able to work over a wide range of optoelectronics and cheap large core POF.

KDPOF

Venture Round in 2011
KDPOF is a Spanish company located in Madrid whose mission is the development of technology for high capacity communications over Large Core Plastic Optical Fiber (POF), covering from the system definition to the digital integrated circuits design. Its POF communication technology combines key elements belonging to the state of the art of digital communications and information theory to provide an adaptive and efficient system able to work over a wide range of optoelectronics and cheap large core POF.

UAV Navigation

Venture Round in 2009
UAV Navigation is a privately-owned company based in Madrid, Spain, specializing in the design and manufacture of flight control and motion processing systems for unmanned aerial vehicles (UAVs). Founded in 2004, the company provides navigation and autopilot solutions, including its AP04 autopilot system, HCAP avionics system, and AH01 motion processor. UAV Navigation also offers additional components such as magnetometers and engine monitors. The company's VECTOR SDK software allows users to develop custom flight control laws, modes, and telemetry systems, enhancing communication between the autopilot and ground control stations. Its technology serves a diverse array of markets, including aerospace, sporting goods, consumer electronics, and automotive applications. With a multinational team of experts in aerospace, microelectronics, and aeronautical engineering, UAV Navigation has established itself as a key player in the UAV industry, catering to tier 1 aerospace manufacturers and expanding its innovative solutions across various sectors. The company maintains an ISO9001 certification and operates through a global distributor network.

Códice Software

Venture Round in 2009
Códice Software is an engineering company established in 2005 and based in France, specializing in software configuration management solutions. The company has developed a comprehensive system that enhances the tracking of changes to source code and digital assets, facilitating better visibility and management of concurrent development efforts among teams. Códice Software's offerings include a robust distributed version control system designed for ease of use, particularly benefiting game developers with its advanced graphical user interface and features like Branch Explorer and Semantic.

Zhilabs

Venture Round in 2008
Zhilabs S.L., founded in 2008 and based in Barcelona, Spain, specializes in developing software and solutions for telecommunications operations. The company is known for its flagship product, FlowSight, which enables telecom operators to collect and analyze vast amounts of data from their networks in real-time, thereby improving operational efficiency and enhancing customer experience. FlowSight allows operators to tailor their networks for individual subscribers, providing insights into network performance and customer usage patterns. Additionally, Zhilabs offers a range of products, including StreamLiner for policy and charging rules, mobile packet core management solutions, and quality of experience (QoE) solutions that help identify opportunities for improved service delivery. The company's technologies are integrated into major mobile and fixed broadband networks globally, serving Tier-1 operators. Zhilabs also provides support services and virtualized network intelligence software, further assisting clients in managing and optimizing their data-driven networks. As of 2018, Zhilabs operates as a subsidiary of Samsung Electronics Co., Ltd.

Multiwave Photonics

Series B in 2008
Multiwave offers pulsed fiber lasers that allow the customer to control key operating parameters. Multiwave also offers other optical sources based on fiber-optic technologies, as well as product design, product development and engineering services aimed at developing and selling cost-effective and reliable products and solutions that resolve customer pains.

Digital Legends

Venture Round in 2008
Digital Legends Entertainment S.L. develops mobile games for smartphones, tablets, and connected TVs across various operating systems. The company develops games by using its proprietary technology that solves the problem of enabling the content across various smartphone platforms. Digital Legends Entertainment S.L. was founded in 2001 and is based in Barcelona, Spain.

Visure Solutions

Series A in 2007
Visure Solutions define Requirements Definition and Management as a global set of different activities where requirements specification and subsequent management thereof are not sufficient and other activities are required, such as requirements Capture, Analysis, Verification and Validation, without forgetting to carry out adequate change Configuration and Control Management, in addition to the traceability of the requirements to the rest of the project elements. Visure not only helps its clients to expedite the Requirements Definition and Management implementation process but also to use and manage it, through the use of different mechanisms and training, evaluation and specialized consulting activities.

Oncovision

Venture Round in 2006
Oncovision, a Spanish technology start-up established in 2003, specializes in developing medical imaging devices aimed at enhancing cancer diagnosis and treatment. The company focuses on Molecular Vision applied to health sciences, particularly in oncology, neurology, and cardiology. By creating innovative diagnostic tests and multimodal imaging technologies, Oncovision provides healthcare professionals with tools that offer clinical and economic advantages, ultimately improving patient quality of life. The company has garnered recognition for its original technologies and strong intellectual property, receiving accolades from prestigious Spanish and European institutions. Its team, composed of scientists, technicians, and technologists, has contributed to numerous publications and presentations at global medical conferences. Oncovision's advancements in imaging technology position it as a leader in the Spanish and European health industries, with a commitment to pioneering new standards in cancer treatment and care.

Anafocus

Venture Round in 2003
AnaFocus is specialized in the design and production of custom high-speed, high-performance CMOS camera systems on-chip (camera SoC) and vision systems on-chip (VSoC) for industrial, surveillance, scientific, and medical applications. Our team consists of over forty experienced and highly specialized engineers and PhDs expert in high-performance image sensor and SoC design, and in all aspects of vision technology: from camera design (hardware & software), optics and illumination, signal processing, to interfaces and vision algorithms. We are entirely committed to innovation and technical excellence in all our developments. Internally, we are constantly challenging ourselves to develop new technologies and solutions changing the conventional way of doing things. One example: during the last 18 months over 10 patent applications have been filled in cooperation with AnaFocus customers. We are completely market oriented and customer total satisfaction is our focus and firm commitment. During our last six years we have developed over 15 different sensor chips, cameras, and smart cameras serving customers worldwide. Despite of being a relatively unknown company we are proud to say that AnaFocus camera SoC and VSoC are today powering last generation products belonging for the worldwide market leaders in machine vision, surveillance, and scientific camera market.

Arvirago

Venture Round in 2003
Arvirago Entertainment is a Computer Games company located in Spain.

Netspira Networks

Venture Round in 2002
Netspira Networks develops software tools and applications for the management of added-value services in the data networks of mobile telephone operators. Founded in 2001, it is based in Madrid, Spain.