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Sodena

Carlos III el Noble Av., 36, 1º Right, Pamplona, Navarre, 31003, Spain

Overview

SODENA is the main instrument of the Government of Navarre for the business development of the region. SODENA carries out its activities as a public limited company, with a majority direct shareholding of 65.42% by the Government of Navarre, and an indirect participation through Nafinco (14.58%). It also participates in the shareholding of Grupo Corporativo Empresarial Caja Navarra (20%), through TME 2001 CorpCan, S.L.

Total investments
24
Lead investments
8
Investments · 12mo
5
Active investors
3
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Investment portfolio

  • Fuvex

    Participated · Series A · Aug 2026

    Founded in 2013, FuVeX develops, manufactures and operates long-range unmanned aircraft capable of beyond-visual-line-of-sight (BVLOS) flights up to 10 km to inspect and monitor large, hard-to-reach infrastructures. Its integrated ecosystem combines proprietary aircraft, operations systems and AI-powered analytics to automate inspections and detect anomalies; the company holds patents protecting its innovations. FuVeX has inspected more than 36,000 km of power lines and works under major contracts with operators such as UFD-Naturgy and Endesa. Commercial traction accelerated in 2026, with first-half sales equaling full-year 2025 revenue and a client base that has expanded from a single customer in 2024 to four large customers. The firm serves civil, security and defense markets and is expanding internationally across Europe and Latin America while scaling manufacturing and R&D to support dual-use systems.

  • Telum Therapeutics

    Participated · Series A · Jul 2026

    Telum Therapeutics, founded in 2019, is developing protein-based antimicrobial therapies using its proprietary APEX platform. Its lead programme targets severe infections caused by Acinetobacter baumannii, specifically hospital-acquired and ventilator-associated bacterial pneumonia (HABP/VABP). The company plans to use the Series A proceeds to complete Phase 1 clinical development of the lead candidate and to advance its broader pipeline against both Gram-negative and Gram-positive pathogens. Telum positions its approach as potentially overcoming limitations of existing antibiotic treatments. No revenue, user, or other operating metrics were disclosed in the announcement. The company highlighted support from both public and private Spanish and international investors as part of its financing.

  • DARWIN Biomed

    Participated · Seed · Jun 2026

    DARWIN Biomed develops advanced assistive robotics and intelligent systems for health, longevity and improved quality of life, including the MICHELANGELO smart walker. The company positions itself as a deep-tech transfer initiative that integrates robotics and advanced intelligence with a person-centered approach to address mobility and aging challenges. DARWIN Biomed reported a headcount of four (three founding partners and one employee) and plans to double staff within 18 months. Funds from the recent Pre-Seed round are earmarked to accelerate technology development, clinical validation and regulatory approvals. The company aims to obtain CE and FDA clearances and initiate commercialization across the EU-27 and the United States. DARWIN Biomed emphasizes collaboration with industrial and regional stakeholders to scale its solution and generate qualified employment and impact within the innovation ecosystem.

  • Velites

    Led · Equity · Feb 2026

    Velites, founded in Navarra, designs and sells functional-fitness gear ranging from premium jump ropes to its recently launched Holo apparel line and Hybrid training shoes. The company has forged strategic partnerships with Hyrox and CrossFit and now counts more than 3,000 affiliated gyms worldwide. Moving beyond e-commerce, Velites opened its first physical flagship in Madrid’s Príncipe Pío district to deepen its retail footprint. The team has grown to over forty employees and was recently strengthened by the hire of former Thomson Reuters executive Mikel Satrustegi as director of the CEO’s office to professionalize internal operations. Velites pursues an aspirational, community-centric growth model that invites customers to become investors and brand ambassadors. Financially, the firm is in the midst of a €4 million fundraising effort, of which €3.3 million has already been secured. The fresh capital is earmarked to accelerate global expansion and broaden product lines.

  • MOA

    Participated · Series A · Jun 2024

    MOA Foodtech integrates industrial biotechnology and artificial intelligence to develop high-value food ingredients from agricultural byproducts via a patented fermentation process. It converts substrates such as cereals, bagasse and legumes into competitive, low‑carbon functional ingredients that can be reintroduced into the food system. The company uses its AI platform, Albatros, to accelerate ingredient creation while reducing time and costs. Proceeds from the recent financing are intended to scale operations, expand production and commercialisation, and further develop the Albatros platform for international market launches. Founded in 2021 in Pamplona (Navarra), MOA employs 15 technical staff, 11 of whom are women. The company frames its approach as a circular solution that helps mitigate greenhouse gas emissions, deforestation and biodiversity loss by valorising large volumes of secondary agro‑food flows. MOA Foodtech is an agroalimentaria startup that develops protein ingredients of high nutritional value from agro‑food subproducts. Founded in 2020 and based at the CEIN incubator in Noain (Pamplona‑Iruña), the company is led by scientific director Susana Sánchez, CEO Bosco Emparanza and CFO José María Elorza. The startup aims to address growing demand for alternative proteins and has participated in acceleration programs such as Spain Foodtech and Orizont’s Match Point VI. MOA plans to have its first product on the market in 2022 and to grow its headcount from five employees to fourteen. The company has early commercial ties with Sanygran and Iberfruta, with options for minimum contracts of €25,000.

Team

  • Luis Navarro

    Regional Strategy Director

    LinkedIn
  • Alvaro Miranda Simavilla

    Director of the Board

  • Iñaki Larraya Garayalde

    LinkedIn