The Spanish startup Citring has closed a funding round of €920,000, led by Faraday Venture Partners and Angels Capital, the investment arm of Juan Roig affiliated with Marina de Empresas.
The operation also counted on the support of existing shareholders, such as Rafa Olmos and Zummo Innovaciones, as well as the entry of new private investors, including Julio Ribes, founder of Swipcar and HolaGlow, who strengthen the stake and bring strategic value to the company.
Citring, founded by Roc Viñas, began operations in late 2017 and was propelled by Lanzadera, one of Spain’s leading accelerators. Since then, the company has evolved to position itself as a disruptive proposition within a new product vertical: automatic home juicers. Its first product, Citring One, sets a new standard in home juicing, delivering a fast, clean, and simple experience.
Products manufactured in Spain
They also manufacture their products in Spain, in facilities near Barcelona. Currently, the brand markets its range through its online channel and, exclusively, in leading specialty retailers of reference at both national and local levels: Mi Electro, with more than 500 stores across the country, and Pascual Martí Electrodomésticos, a benchmark in the Valencian Community, with eight points of sale and a long-standing track record in the sector.
“We saw an opportunity to boost natural juice consumption at home and to make enjoying freshly squeezed juice easier in daily life. That is why we set out to redesign the experience, reinforcing a habit that naturally fits into the home environment,” explains Roc Viñas, CEO and founder of Citring.
The capital injection will allow Citring to accelerate its commercial growth and international expansion.
During this first year, the company has validated the existence of global demand for Citring One, and this round will enable it to strengthen its operational capacity with the aim of consolidating itself as the reference brand in the new product category it is developing.
“Roc participated in the first edition of Lanzadera Corporate (2018-2019) with a single idea: persevering founders and focused. This, along with Angels’ commitment to supporting entrepreneurs who have gone through Lanzadera, has made possible that seven years later we meet again to drive a new growth phase for Citring, which is today a reality,” notes the Angels’ CEO, Pepe Peris.
“Citring represents exactly the kind of companies we back at Faraday. With this investment, it becomes the twelfth portfolio company of our Faraday Europe II fund, which has already completed half of its planned investments in less than two years, building an increasingly diverse portfolio across sectors and business models. We believe that any business, no matter how complex, can scale successfully when there is a clear value proposition, a well-defined growth plan, and an ambitious CEO with execution capability. Roc and the team have demonstrated precisely that combination, building an innovative product category with a clear international orientation,” says Olimpia Carabel, Investment Manager at Faraday.
