LUMO Fund, the €100 million impact-focused venture vehicle managed by Eindhoven-based LUMO Labs, has received a €6 million investment from Spain’s Sociedad Española para la Transformación Tecnológica (SETT), a public entity under the Ministry for Digital Transformation and the Civil Service.
The commitment will support early-stage startups across Spain and Europe, reinforcing the fund’s multi-stage strategy from Pre-Seed to Series A.
What The Company Does
LUMO Fund is designed as a multi-stage vehicle targeting 30 to 35 startups over the next four years. Beyond capital deployment, the fund provides a structured coaching programme aimed at purpose-driven founders building technology solutions with measurable social and environmental impact.
LUMO Labs concentrates its investment strategy at the intersection of selected UN Sustainable Development Goals, including Health and Wellbeing, Quality Education, Sustainable Cities and Communities, and Climate Action. Its geographic focus includes Benelux and Germany as core regions, while also expanding activity across the Nordics, Baltics, and the Iberian Peninsula.
Founded in 2016 by former entrepreneurs Andy Lürling and Sven Bakkes, LUMO Labs invests in scalable digital deeptech platforms and infrastructure, including AI, blockchain, IoT, digital security, and immersive technologies. Its first fund, launched in 2020, backed 23 impact-oriented startups.
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Market Context / Industry Background
Public-private capital collaboration has become increasingly central to Europe’s innovation strategy, particularly in strategic digital and deeptech sectors. Early-stage funding gaps remain a challenge in parts of Southern Europe, where startups often struggle to secure pre-seed and seed capital necessary for initial validation and scaling.
SETT’s participation aligns with broader national and EU objectives to stimulate private investment in high-impact technology sectors. Areas such as artificial intelligence, digital security, and IoT are considered priority fields for strengthening economic resilience, digital sovereignty, and sustainable growth across Europe.
Spain’s innovation ecosystem has matured significantly in recent years, with growing sector diversity and a rising number of technically skilled founders. Institutional commitments such as this aim to reinforce momentum at the earliest stages of company formation.
Founder / Investor Commentary
Andy Lürling, Founding Partner at LUMO Labs, described the investment as an opportunity to deepen support for Spanish founders at early stages, particularly in bridging funding gaps that can delay product validation and international scaling. He noted that Spain’s technology ecosystem is entering a pivotal phase of development, characterised by increasing talent depth and sectoral diversity.
With the launch of its second fund in 2024, LUMO Labs appointed Jorge Blasco as Partner for Southern Europe. Based in Barcelona, Blasco played a key role in structuring the SETT partnership and will continue to support ventures across the region.
SETT’s commitment is made through Spain’s Next Tech fund, part of the country’s Recovery, Transformation and Resilience Plan financed by the EU’s Next Generation EU programme. The initiative seeks to catalyse private investment into strategic digital industries and strengthen Spain’s position as a European hub for high-impact innovation.
Growth Plans / Use Of Funds
The €6 million allocation from SETT will be deployed into early-stage startups within LUMO Fund’s portfolio strategy, with a particular emphasis on Spanish ventures operating in high-impact digital sectors. The broader €100 million fund will continue investing across multiple European regions, combining capital with hands-on operational support.
LUMO Labs intends to expand its coaching and founder support programmes alongside capital deployment, aiming to accelerate validation cycles and improve long-term scalability of impact-driven deeptech companies.
About LUMO Labs
LUMO Labs is an Eindhoven-based impact-focused venture capital firm investing from pre-seed to Series A in digital deeptech sectors including AI, data, blockchain, IoT, VR/AR, and digital security. The firm combines capital with structured coaching to support founders building scalable solutions addressing climate action, health, education, and sustainable urban development.
