$8M for a Spaniard developing AI-powered vector graphics: a16Z leads but with three local funds

The big numbers: QuiverAI, the startup founded by Spanish entrepreneur Joan Rodríguez, has closed an $8.3 million funding round. The Andreessen Horowitz (a16Z) fund leads it.

• Based in San Francisco (USA), the company has chosen to raise a first round with an American leader. But that hasn't been an obstacle for Spanish funds to join: KFund, JME Ventures, and Mission (formerly Demium).

• In addition to these three management firms, prominent business angels have participated, such as the founders of the Spanish company Theker Robotics, the CEO of Webflow (Linda Tong), and the CEO and head of AI at Replit.

Who he is: His model is based on directly creating structured and editable vectors from the source (not creating images in pixels and then converting them).

• Rodríguez is an AI researcher who was based in Canada. Until last October, he was a 'researcher' at ServiceNow. StarVector is the model he has developed.

The market: It seeks to target the digital design-focused software market. This segment is expected to exceed $20 billion globally by 2030.

The context: This round comes at a time when competition for good rounds from Spanish funds against international managers (especially American ones) remains strong.

• As we mentioned at the time, rounds remain competitive in very early stages for Spanish funds, which see international funds ultimately securing relevant deals.

This Thursday, an in-depth story will be published in Ecotechers Pro to analyze how the year has started in AI funding rounds in the Spanish market (to subscribe: link.ecotechers.com/sub…)