Roka Furadada to raise 1.5 million euros in a round led by the investment group O Financial Club

Roka Furadada, a Barcelona, Spain-based startup working for the development of active ingredients with therapeutic and/or cosmetic use to protect against skin diseases related to UV radiation, announced the completion of a Series A financing round of 1.5 million euros ($1.8M).

The money was raised from investors led by the local investment group from Spain O Financial Club, and includes the participation of Klinea Ingeniería Farmacéutica, which will act as technological partner, the network of business angels "Women Angels for Steam", which supports female entrepreneurs in the STEAM (Science, Technology, Engineering, Arts & Architecture and Mathematics) sectors, and current partners, led by Menadiona, the project´s industrial partner.

The funds from the capital increase will be used to accelerate the registration process of new molecules in different markets, complete the team with new researchers, accelerate sales activity, and continue the development of new environmentally-friendly products committed to protecting our skin from UV radiation.

Roka Furadada, led by its founder and CEO Judit Camargo, develops patented solar filters (the active ingredient in sun cream that protects us from solar radiation) which are respectful of the marine environment, especially corals, and have no side effects on humans.

Roka Furadada, which holds the European Commission’s Seal of Excellence, plans to complete the registration of its first molecule in the European Union during the first half of the year and start its commercialization in 2021. During 2021 it also plans to begin the registration process in Asia and Latin America. Roka Furadada's business model is B2B, and potential customers are both sun cream manufacturers and solar filter producers and distributors.