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Candam Technologies

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Unlock a new era in waste management: Convert any bin into smart, elevating recycling to new heights

100%
 - 
Funded 2 May 2024
€800,010 target
€816,615 from 279 investors
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Business overview

Location Barcelona, Spain
Social media
Website candam.eu/
Sectors SaaS/PaaS Mixed Digital/Non-Digital B2B
Company number B66947367
Incorporation date 9 Feb 2017
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Investment summary

Type Equity
Valuation (pre-money) €6.8M
Equity offered 10.51%
Tax relief N/A
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Business highlights

  • Tech capable of identifying materials via acoustic AI
  • 11 commercial agreements and 2 offices (UAE, PL)
  • Revenue nearly hit €1M in 2023
  • Ongoing patenting processes and ownership of all technology
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Key features

  • Secondary Market
  • Nominee investment min. €27.00 +

Idea

Introduction

Candam Technologies is a deep tech company based in Barcelona. Our mission is to ensure that every citizen receives a fair reward for their recycled packaging, thanks to our technology.


♻️ 1. Return & Earn Schemes – RecySmart is an IoT device able to transform any single bin into a Smart. It can identify users and characterize packaging material recycled by citizens. This valuable data enables waste managers and the retail industry to reward or refund them for their correct recycling actions to increase the packaging recovery rates.


🤖 2. Smart Waste – Optimize Waste Collection: Candam offers a wide range of technology to optimize waste collection where recently we have been adjudicated with the largest deployment in the EU.


💲 Secured €4 M through private equity and prestigious EU grants. We have established 11 commercial agreements in multiple countries like Spain, Portugal, the UK, the Gulf Region, etc. In 2023, revenue nearly hit €1M.

Substantial accomplishments to date

🤝 SALES

1st full city project with RecySmart: The first full city deployment implementing 400 devices in Guadalajara City (90 K inhabitants) together with Valoriza (one of the biggest waste managers in Spain).


🇦🇪 1st Project in the UAE (outside EU): We entered the Middle East through a commercial agreement with Beaah Group, the Gulf's top waste management company. We've begun the initial small-scale implementation with plans for further regional expansion.

🇪🇺 Largest Smart Waste project: The city of Madrid has the largest Smart Waste installation in the EU. Candam is implementing 11,000 sensors to detect the filling speed of each bin to optimize waste collection routes during 2023 and 2024.

🗑️ NEW VERTICAL - PRIVATE COLLECTION

We launched a new business vertical targeting retail, gas stations, airports, and other sectors. We introduced the RecySmart Bin as a replacement for Reverse Vending Machines.

💰FUNDING

Candam has raised 4€ M coming from private equity and prestigious European Grants (Life, Eurostars, etc).

🏭 TECHNOLOGICAL MILESTONES

RecySmart fully Industralized: Our tech is fully industrialized (TRL9) and ready to be produced on a massive scale. The industrialization includes Automated fixtures, injection moulds and real-time production results from our manufacturing company.

🧠 IPR

Candam owns the whole IPR. There are 2 patent processes:

Acoustic: Our patent application in the EU scope received positive feedback and we applied to the International Patent.

Scanning: We applied at the EU level.

Monetisation strategy

Our revenues come from:

📈 RECYSMART DEVICE SALES

1) the initial sale of RecySmart devices to our main clients, private waste management companies, providing services to municipalities or retail industry, gas stations, among others. The price ranges from 600 to 1300 € depending on the quantity of devices purchased per order.


🖥️ SAAS - Software as a Service

2) the recurrent Software as a Service for each installed device. The SaaS is on a monthly fee for enabling the use of our Citizen App, our Return and Earn platform, and our Backoffice in the project. The SaaS fee ranges from 5 to 10 € per device per month.

Additionally, per each project delivered we charge the expenditures associated with the installation and maintenance fees in case our client requests a turn-key project.

Use of proceeds

33,7% SALES & MARKETING

• 67% are salaries on our current 4 headcount Salesforce to 11 positions

• 22% represents travel expenses

• 11% includes online marketing campaigns, external PPRR agencies, etc

25,6% OTHER OPEX

• 43% are external consultants in areas such as legal, audit or administration

• 22% are leases and maintenance

• 19% are general expenses like insurance, office telecom services, etc

• 16% is composed of software and IT expenses

22,1% CAPEX & R&D:

These cash outflows are 75% covered by grants already granted

• 69% are salaries from Candam’s IT team

• 14% CAPEX: Injection moulds, Patents and IT equipment for new positions

• 8% consists of consultancy, prototyping and industrialization

• 6% are dedicated to AI algorithms.

• 3% is mainly other kinds of expenses

15,6% OTHER DEPARTMENT’S SALARIES

The salary cost of CTO, COO and CFO and 4 additional job positions will be hired

3,0% OTHER FINANCING & PAYMENT COMMITMENTS

• 96% are repayment of loans

Key Information

Material debt

The company has the following outstanding loans as of 31/12/2023:

1 - €4,080 loan from CaixaBank at an interest rate of 1,50% per annum. The loan is to be repaid by 07/04/2025.

2 - €32,315 loan from CaixaBank at an interest rate of 4,90% per annum. The loan is to be repaid by 01/09/2025.

3 - €90,000 loan from ENISA at an interest rate of Euribor + 3.75% per annum. The loan is to be repaid on 31/12/2026.

4 - €110,207 grant from CDTI PiD at an interest rate of 0,013% per annum. The loan is to be repaid on 01/02/2038.

5 - €100,000 loan from Banc Sabadell at an interest rate of Euribor + 3.00% per annum. The loan is to be repaid on 31/10/2024.

The funds raised from this investment round will not be used to repay these loans.

Share classes

The company currently has 3 classes of shares: A, B and C shares. All investors in this round, including Seedrs investors, will be receiving C shares. On a liquidation event, this is the distribution waterfall:

1 - The Investors (C shares) will receive the amount of the disbursements made in cash contribution in the Company by each one of them since 2022, pro-rata their investment, per batches and in reverse order of each investment round agreed (the most recent investment will be the first to receive the amount corresponding to that investment).

2 - Second, the Founders (A Shares) will receive a total amount of €150,000, to be distributed equally among them.

3 - Any remaining amount will be distributed among all the Shareholders in proportion to their stake in the Company’s share capital.

Fractional shares

The price per share of this investment round is €90. Given the high price per share, we have decided to allow investors to hold fractional shares. This means that we have reduced the investment multiple to €9 (representing 1/10 of a share). As these shares will be held via the Seedrs Nominee, fractional entitlements are possible.

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If you successfully purchase a share lot of this business, you will be granted access.

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Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from €6,818,940

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

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Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

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Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

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Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

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