Emocional, a Spain-based HRTech startup that develops artificial intelligence capable of detecting emotional states and personalities, recently announced that it has raised $435,000 (Euros €400,000) in a new round led by RedArbor, the leading human resources technology company in Latin America. The round also saw participation from BackFund and BCombinator, in addition to the financial support of 160,000 euros from Enisa that it has granted to the startup so that it can continue with its growth and developing technological muscle.
Emocional plans to improve and optimize the artificial intelligence models developed by the platform. To do this, it will work with supercomputing centers to turn its technology into an international benchmark, capable of helping and improving emotional well-being in companies. It will also hire new profiles to expand its human team and promote talent in the company.
Founded in 2021 by Pedro J. Espinosa and Aniol Hervas, Emocional’s goal is to create an emotionally sustainable future and generate a positive social impact on society through the creation of disruptive technologies and services capable of detecting and improving the emotional state of people in the work environment, maximizing their capabilities, increasing their satisfaction. vital and promoting their personal and professional growth. The company has a high-performance multidisciplinary team, where a positive attitude, initiative, ambition and the desire to change the world are the main ingredients.
Commenting on the investment, Founder & CEO of Emocional, Pedro Espinosa, said:
We are super happy to have Redarbor in this new stage. Thanks to the experience, knowledge and excellence that David has shown in his more than 40 years as an entrepreneur, we are convinced that we will be able to build something that helps thousands of companies around the world.
The startup currently employs 21 workers, including artificial intelligence professionals, software engineers, as well as professionals specialized in psychology, marketing or design.
David González, Founder & CEO of Redarbor, added:
I am very pleased to participate in a project as innovative and promising as Emotional. It also has great potential for synergies with our business and shares many of our values. I hope to be able to contribute to achieve many more successes.
González further said:
This alliance will make it easier for both companies to work together on new services integrated into innovative technology, which will make it easier for companies, which are already part of the Redarbor and Emotional client portfolio, to have tools to improve mental health in work environments. I love collaborating with entrepreneurs and that is why it is a great pleasure for me to be able to contribute to Pedro and Aniol’s project. I am convinced that together we can build something very big.
With this transaction, Redarbor acquires 10% of the company’s shares, David González Castro joins the co-founding team of Emocional, up to now made up of Pedro J. Espinosa, psychologist and programmer, and Aniol Hervás, engineer.
As upcoming financing milestones, Emocional proposes a seed round scheduled for 2023 valued at around €3 million. With the forecast of obtaining these funds, the company will be able to continue investing in R&D, as well as developing disruptive technologies focused on people and their personal and emotional development, according to a report.