The innovation hub funded start-ups in Europe and Latin America.
Telefónica’s innovation hub, Wayra, invested a total of €4.5 million in 39 start-ups in Europe and Latin America. Of that, €1.8 million was invested in 15 start-ups in Spain – 29% more than in the previous year.
The projects are related to AI, the IoT, cloud, video, virtual reality, cybersecurity, connectivity, data analytics and fintech.
Telefónica said in a statement that, “Wayra is reinforcing its objective of investing in technological start-ups in keeping with Telefónica’s strategic projects. Wayra’s participation totals up to €250,000 per company, helping them to develop business with the group and connect with Telefónica’s key business areas.
For the first time, Telefónica acquired two start-ups last year that were partly owned by Wayra – mGovertis and iHacklabs – to bolster Telefónica Tech’s cybersecurity capabilities.