Lugo Transforma, the venture capital fund of Lugo's City Council, which aims to mobilize 12 million euros through the creation of an entrepreneurial public fund to attract new investments to the city, has just publicly announced the investment of 400,000 euros in 'InVerbis'. A technology company born in the Singular Center for Research on Intelligent Technologies (CiTIUS) of the University of Santiago de Compostela. InVerbis' becomes thus the third company that this Lugo initiative has invested in.
Jesús Torres, CEO of Torsa Capital, the company in charge of managing the fund, emphasized the importance of this agreement due to the potential and innovative nature of InVerbis. He hopes that it will attract highly qualified professionals. Meanwhile, the Mayor of Lugo, Lara Méndez, highlights the significant employment opportunities that the arrival of a pioneering company in its sector brings.
Consequently, 'InVerbis Analytics' continues to consolidate its growth, afeter having previously received financial support from Unirisco, the venture capital fund of Galician universities, and the Ministry of Science and Innovation through the Neotec program. Alejandro Ramos, the scientific director of InVerbis and a former CiTIUS predoctoral student, where he developed his PhD, explained that this milestone "confirms the strength that the company is achieving in the international market of process intelligence". Additionally, this new contribution of funds will enable the company to "focus on product updates tailored to the intelligent process solutions that the market will demand, as well as to enhance its communication and international presence", pointed Alejandro.
InVerbis is a technology-based company that markets a tool for analyzing and improving processes that can be used by private companies and public administrations. This Spanish project, located in the Galician region, has emerged from research developed at CiTIUS (University of Santiago de Compostela), and originally supported by the Ignicia Program of the Axencia Galega de Innovación of the Xunta de Galicia, in collaboration with the Fundación Barrié.
The company has a highly qualified team of Ph.D. and post-graduate engineers with real experience in various and diverse sectors such as health, logistics and services. Its development has been particularly positive, especially on the international market. In less than 3 years, it has been able to develop partnerships with major international software companies such as Denodo, TimeXtender or CERNER, among others.
Estrategia Lugo Transforma
Lugo has bet on a strategy aimed at attracting new investments to the city, persuading companies and creating sustainable employment. It will be articulated via the temporary entry of the City Council in the capital of innovative business projects, through the modality of venture capital fund. These projects must meet certain requirements such as high added value, growth potential and high qualification.
The City Council of Lugo is committed to supporting entrepreneurial funds that enable companies to access financing. focusing on initiatives that may have difficulty accessing funding from traditional financial sources. The initiative already has three current projects, including 'InVerbis Analytics', along with LexDigo and Innogando, although it is expected that one or two additional companies will be announced along the next month to join this initiative.