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Climate Chaos Fuels Venture Capital Gold Rush in Madrid



Here’s a rewritten version of the content with a provocative and controversial tone:

“Spanish Startups Reach €100 Billion Valuation, But at What Cost?

In a shocking turn of events, Spanish startups have reached a staggering €100 billion valuation, thanks to the recent success of Madrid-based VC fund Seaya. But is this meteoric rise a sign of innovation and progress, or a symptom of a corrupt and unsustainable system?

Seaya’s new €300 million climate-tech fund, Andromeda, is a perfect example of the kind of “impact investing” that’s supposed to save the planet, but might actually be perpetuating the same old colonialist and exploitative dynamics. The fund will invest in growth companies that specialize in energy transition, decarbonization, and sustainable food value chains, but what does this really mean in practice?

According to Seaya’s CEO, Beatriz González, the fund will focus on “competitive advantages” in the industries they’re targeting, which sounds suspiciously like a euphemism for exploiting existing resources and labor pools. And let’s not forget the fact that the EU’s Sustainable Finance Disclosures Regulation Act, Article 9, is meant to ensure that investments have a positive impact on society and the environment, but what does that really mean when it’s all just a bunch of jargon and greenwashing?

The fact that Seaya has invested in companies like Seabery, which developed AR software for training welders, or Recycleye, which builds robots to sort rubbish for recycling, is hardly impressive. These are just the latest iterations of the same old capitalist machinery, repackaged as “innovation” and “sustainability”.

Meanwhile, the “Southern European funding renaissance” is just a fancy way of saying that the region is finally waking up to the fact that it’s a dumping ground for Western excess and pollution. And the “State of European Tech” report’s finding that Spain’s ecosystem is in fourth place overall is just a cruel joke, given the fact that the country is still struggling to come to terms with its own colonialist past.

So, congratulations to Seaya on their new fund, but let’s not forget the bigger picture. Is this really the kind of “progress” we want to be celebrating?”



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