Spanish investors pump €3.5m into Fast Drinks

The company's management team also contributed to the financing round.

Clave Mayor invested via the Seguranza vehicle, a €36.1m fund with a focus on SMEs in Castilla y Leon. The fund's original 12-year lifespan has been extended to 14 years.

Ade Gestión Sodical committed capital from the €54.9m Ade Capital Social vehicle, with Caixa Capital Risc contributing capital from Caixa Innvierte Industria, which held a first close on €23m in November 2012.

The fresh capital will boost the international reach of the firm, which aims to sell seven million cans globally by 2017.

Company
Founded in 2005 and based in the Valladolid University Science Park, Fast Drinks manufactures and develops self-heating cans. Each can holds three chambers; the first contains the drink, the second holds calcium salts while the third is filled with water. To activate the heat, the can must be rotated, the bottom cover removed and pressed. As the water hits the calcium salts, heat is generated. Contents are heated within 3 minutes and cans can hold hot drinks and soups.

Since its product hit the market in 2009, the company has sold 4 million cans. Approximately 70% of cans were sold abroad.

People
Carlos Trenchs is a director at Caixa. Francisco Armero is director of Clave Mayor's Valladolid office.

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• Topics
• Southern Europe
• Industrials
• Expansion
• Spain
• Caixa Capital Risc
• Clave Mayor