StartupXplore • Inrobics
Aktien-Crowdfunding
Inrobics
Social AI for wellbeing and personalized rehabilitation
Key project data
Target amount
0,75 MEUR
Valuations
3,5 MEUR
Would AI invest?
74/100
1
100
KI-generierte Übersicht
AI project overview
Condensed summary based on project data
<h1><span style="font-size:15pt"><span style="font-family:Calibri,sans-serif">Inrobics Social Robotics — Crowdfunding Investor Memo</span></span></h1> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Inrobics builds Alma®, an AI system that runs on small robots, tablets and on-screen characters to guide people through physical and mental exercises — used with children in rehabilitation, patients recovering movement, and older adults in care.</span></span></p> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>Sector: </strong>Digital health / assistive-AI & social robotics<strong> · Stage: </strong>Seed / pre-Series A<strong> · HQ: </strong>Leganés (Madrid), Spain<strong> · Raise: </strong>€100K–€350K (platform disclosure)</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">ℹ️ Information, not investment advice. </span></strong><span style="color:black">Capital at risk — you could lose the full amount invested. Full notes are at the end of this memo.</span></span></span></p> </td> </tr> </tbody> </table> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">Snapshot</span></span></h2> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">1 · Is the price fair? 💶</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">2 / 5</span></strong><span style="color:black"> — The €3.5M pre-money price is about 13 times last year's revenue (€261K). Health-AI companies with proven data and workflow integration change hands at roughly 4x–8x revenue (Nelson Advisors; Windsor Drake, 2026), so this entry price sits above the benchmarks we could find.</span></span></span></p> </td> </tr> <tr> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">2 · Can they reach an exit stage? ⭐</span></strong></span></span></p> </td> <td style="background-color:#fbf1d9; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">AI SCORE 74 / 100 — Good. </span></strong><span style="color:black">Strongest evidence: a publicly verified founding team of three PhDs and a CE-marked medical product already used in 20 centres by 1,000+ people. Biggest gap: revenue fell from €414K (2024) to €261K (2025), and the €13.1M pipeline is not backed by signed contracts in the pack.</span></span></span></p> </td> </tr> <tr> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">3 · If they do, what could it pay? 🎯</span></strong></span></span></p> </td> <td style="background-color:#f0f4f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Target ~10x over 5–7 years</span></strong><span style="color:black"> (the standard expectation for seed stage — the company sets no investor target). If a successful sale is reached, illustratively roughly 10x–20x before fees and future dilution. Method: typical health-tech sale multiples of 4x–8x revenue (Nelson Advisors; Windsor Drake, 2026) applied to a modest successful scale, measured against the €3.5M entry price. No comparable exits for this niche were found on record.</span></span></span></p> </td> </tr> </tbody> </table> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>How to read the score</strong></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Three answers, one honest note. The fairness score says whether the entry price is supported by the sector benchmarks we could find. The AI Score is our read on whether the company has the building blocks in place to reach a point where a sale or other exit can happen — it rates readiness on the evidence shown, not the chance of success, and even companies with every building block in place fail more often than they succeed, which is why crowdfunding only works as a small part of a spread-out portfolio. The returns range is an illustration of what a successful sale could pay, built from named sector benchmarks — not a forecast. Where something was not in the pack, it did not lower any score — it appears in the questions list instead, so you can ask the company directly before investing. The listing was reviewed by a licensed crowdfunding platform (Startupxplore) before going live. Nothing here is a recommendation.</span></span></p> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>What the score bands mean</strong></span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:153px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">85–100 · Excellent</span></strong></span></span></p> </td> <td style="background-color:#d9ebc2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:460px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">All key building blocks for reaching an exit stage are evidenced and strong — rare at this stage</span></span></span></p> </td> </tr> <tr> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:153px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">70–84 · Good</span></strong></span></span></p> </td> <td style="background-color:#faeeda; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:460px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Building blocks largely in place, with specific gaps — named in the questions section</span></span></span></p> </td> </tr> <tr> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:153px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">50–69 · Average</span></strong></span></span></p> </td> <td style="background-color:#faece8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:460px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Meaningful building blocks missing or weakly evidenced</span></span></span></p> </td> </tr> <tr> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:153px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">30–49 · Weak</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:460px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Several core building blocks absent, or the evidence points against them</span></span></span></p> </td> </tr> <tr> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:153px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">1–29 · Critical</span></strong></span></span></p> </td> <td style="background-color:#fcebeb; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:460px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Fundamental building blocks are not visible in the evidence</span></span></span></p> </td> </tr> </tbody> </table> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">What we could check. </span></strong><span style="color:black">We verified the founders' identities and credentials, the UC3M spin-off origin, the lead investor (Grow Venture Partners), prior grants and awards, and the CE-marked medical-software status against public sources. The revenue, margin, pipeline, MRR and cap-table figures rest on the company's own materials — see the questions section.</span></span></span></p> </td> </tr> </tbody> </table> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">At a glance</span></span></h2> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">✅ Three reasons to look closer</span></strong></span></span></p> </td> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Three reasons for caution</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A CE-marked medical product already deployed across 20 health and education centres, supporting 1,000+ users, with €500K+ revenue to date (company; consistent with filed accounts).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A publicly verified founding team of three computer-science PhDs from UC3M, with research stays at USC and Carnegie Mellon, backed again by lead investor Grow Venture Partners (€250K).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">10+ years of R&D behind the product, a national research award (SCIE–Fundación BBVA, 2025), and clinical studies underway with Cruz Roja and McGill (company).</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Revenue fell from €413,908 (2024) to €261,423 (2025), and 2024 revenue was about 88% dependent on a single client that is also a related party (CUSTER Investigaciones AIE) — per the company's own accounts.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The €13.1M pipeline and €800K+ of “contracted” 2026 revenue are not backed by signed contracts in the pack, while the plan jumps to €1.0M revenue in 2026.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The round size and the ownership share you receive are stated three different ways across the company's own documents (see the questions section), and the entry price sits above the sector benchmarks we found.</span></span></li> </ul> </td> </tr> </tbody> </table> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Deal terms. </span></strong><span style="color:black">No terms were identified in the reviewed documents that would prevent a crowdfund investor from sharing in the upside. On a sale, money contributed as share capital and premium is returned first, and the rest is split among all shareholders in proportion to their holdings. Full mechanics — including one feature worth checking (a €1 early-exit buy-back) — are at the end of this memo.</span></span></span></p> </td> </tr> </tbody> </table> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">🏢 What the company does</span></span></h2> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Inrobics Social Robotics is a spin-off of the Universidad Carlos III de Madrid (UC3M) that develops Alma®, an artificial-intelligence platform for physical, cognitive and emotional well-being. The company reports that Alma runs across different devices — humanoid robots, tablets and on-screen avatars — rather than depending on any single piece of hardware, guiding users through exercises and generating progress data for professionals. Its customers are clinics, hospitals, rehabilitation and early-intervention centres, schools and nursing homes (sold business-to-business and to the public sector), plus home users reached through care providers. It earns money mainly from software subscriptions and analytics, sometimes bundled with hardware, and reports €500K+ of revenue to date across 20 centres and 1,000+ users. The company operates primarily in Spain, with pilots and distributors in several other countries. This raise is intended to fund sales and marketing (50%), product and technology (30%) and international expansion (20%) — and, per the company, to launch its elder-care product and accelerate public-sector projects.</span></span></p> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">📈 The returns picture</span></span></h2> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:187px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Element</span></strong></span></span></p> </td> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:427px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Detail</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:187px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>The target</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:427px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">About 10x over 5–7 years. The company does not give investors a target return, so this is the standard expectation for a seed-stage company. Its own materials show only an internal revenue forecast — €1.0M in 2026 rising to €42.8M by 2030.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:187px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">How the company plans to get there</span></strong></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:427px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">By scaling three named channels — special-education rollouts, nursing-home deployments and home tele-rehabilitation — through partners such as the Community of Madrid, the Vitalia nursing-home group and Telefónica, growing recurring software revenue. No comparable company sales (exits) were provided in the pack for this niche, so there is no company benchmark to reproduce here.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:187px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>What has to be true</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:427px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The company would need to convert its stated pipeline into signed, recurring contracts and grow revenue many times over from the current €261K, reaching a scale — roughly tens of millions in revenue — at which a larger healthcare or technology buyer would acquire it.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:187px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">If reached — potential returns</span></strong></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:427px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Illustratively, roughly 10x–20x before fees. Method: typical health-tech sale multiples of 4x–8x revenue (Nelson Advisors HealthTech M&A, 2026; Windsor Drake AI-in-Healthcare, Q1 2026) applied to a modest successful scale, measured against the €3.5M entry valuation. We found no recorded exits for European social-robotics / assistive-AI rehabilitation software at this stage, so this is an illustration, not a forecast. Because the entry price is already above the sector benchmarks we found, every return outcome is compressed relative to a company priced within the benchmarks. <strong>These figures do not include dilution from future fundraising rounds, which would reduce actual returns — see the dilution section.</strong></span></span></span></p> </td> </tr> </tbody> </table> <p> </p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Why aim for this target? </span></strong><span style="color:black">Startup investing is high risk. Most early-stage companies fail or return little. A small number of winners must make up for the losers, so each investment is typically aimed at roughly 10x over 5–7 years. Treat any single crowdfunding investment as a small part of a wider, spread-out portfolio.</span></span></span></p> </td> </tr> </tbody> </table> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">📊 Score breakdown</span></span></h2> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Score = each category's score weighted by its importance; weights sum to 100%.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Category</span></strong></span></span></p> </td> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:53px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Score</span></strong></span></span></p> </td> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Weight</span></strong></span></span></p> </td> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:360px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Verdict & key reason</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Team capability</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:53px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">88</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">20%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:360px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Excellent — three PhD founders (UC3M), publicly verified, with USC and Carnegie Mellon research pedigree and a national research award; lead investor Grow re-invests.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Product-market fit</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:53px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">74</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">15%</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:360px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Good — a CE-marked product deployed in 20 named centres including reference hospitals; which sites are paying versus unpaid pilots is not in the pack.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Traction & growth</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:53px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">60</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">16%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:360px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Average — real, verified revenue (€261K in 2025) but down from €414K in 2024, with ~88% of 2024 revenue from one related-party client; the pipeline is not backed by signed contracts in the pack.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Market size</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:53px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">70</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">12%</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:360px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Good — the ageing-population and care-shortage thesis is well supported publicly; the specific market-size figures in the deck (e.g. €700bn, 82% savings) carry no cited source.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Business model</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:53px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">66</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">8%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:360px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Average — a clear subscription-plus-hardware model with named contract economics as targets; unit economics (cost to win and serve a customer) are not in the pack, and the jump to €1.0M in 2026 is not bridged with signed deals.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Competition</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:53px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">64</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">9%</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:360px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Average — competitors exist (e.g. Cyberdyne, PARO); the hardware-agnostic, CE-marked positioning is credible, but no head-to-head or win/loss evidence is provided.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Regulatory & compliance</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:53px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">80</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">10%</span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:360px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Good — CE-marked as Class I medical software, processes aligned to ISO 13485, GDPR compliant; Class IIa and FDA steps are described as in progress (normal for the stage).</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:140px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Technology risk</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:53px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">82</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:60px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">10%</span></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:360px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Good — 10+ years of R&D, peer-reviewed founder publications and a product already in clinical use indicate the core technology risk is largely behind the company.</span></span></span></p> </td> </tr> </tbody> </table> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">❓ Questions to ask before investing</span></span></h2> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">These are facts the company holds and can supply on request. They were not in the materials we reviewed — they may well exist in interviews, webinars or the company's data room. The score above is based on what was available; these questions are how you close the gap.</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">What is the actual size of this round, and exactly what percentage of the company do I receive per €1,000 invested? Your Termsheet (€50K–€280K; 1.24%–6.59%), the platform disclosure (€100K–€350K; 2.77%–9.09%) and press coverage (€520K–€750K) all differ — which governs?</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Who owns what share of Inrobics before and after this round (the full cap table), and how large is the employee share pool?</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Which of the 20 deployment centres are paying customers versus unpaid pilots, and what recurring revenue comes from each?</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">In 2024, about 88% of revenue came from one client, CUSTER Investigaciones AIE, which is also a related party owing the company €317,401. What is that relationship, and what was 2025 revenue excluding it?</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Revenue was €261K in 2025 and €414K in 2024, yet the plan shows €1.0M for 2026. Which signed contracts bridge that gap, and what are their values and start dates?</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Please share the signed contracts or letters of intent behind the €13.1M pipeline and the €800K+ of contracted 2026 revenue.</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">What does it cost you to win and to serve a customer (your gross margin, and payback time), by product line?</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">What is your current cash position and monthly spend, and how many months of runway does this round buy?</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">What is the status of the CE Class IIa and FDA steps (reference numbers, target class and timeline)?</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">What patents or trademarks protect Alma® (application numbers, filing dates and countries)?</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Please provide the holding-vehicle (SPV) articles and the agreement that sets out how my vote is pooled and exercised on my behalf.</span></span></span></p> </td> </tr> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Under</span> <span style="color:black">what conditions could I be required to sell in a company sale I did not choose (a “drag-along”), and what price protection applies to the crowdfunding pool specifically?</span></span></span></p> </td> </tr> </tbody> </table> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">📜 What you own</span></span></h2> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">You would receive ordinary shares — but not directly in Inrobics. Your money buys shares in a separate holding vehicle (an “SPV”) that the platform sets up, which in turn invests in Inrobics. Your voting rights are pooled: the SPV's administrator (proposed to be Startupxplore's entity) votes on company matters according to the majority view of the SPV's investors. On a sale of Inrobics, money that shareholders put in as capital and premium is returned first, and whatever remains is split among all shareholders in proportion to their holdings — so you share in the upside. One feature to check: if you want to exit before a company sale, the documents allow you to sell your holding back to the SPV for €1 — effectively giving up your money rather than selling at a market price. Full mechanics are in the reference section below.</span></span></p> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><em>Everything below is reference detail for readers who want to go deeper.</em></span></span></p> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">🔍 Detailed review</span></span></h2> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Team capability</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The three founders are each PhDs in computer science from UC3M, publicly confirmed via the university, LinkedIn and press. CEO José Carlos Pulido holds an MBA in digital health and did a research stay at the University of Southern California; CTO José Carlos González researched at Carnegie Mellon and KIT; CSO Fernando Fernández is a UC3M professor with 20+ years in AI and robotics. The team won a national research award (SCIE–Fundación BBVA) in 2025.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Founder credentials independently verified against multiple public sources.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Deep, directly relevant domain expertise in assistive social robotics and digital health.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Lead investor Grow Venture Partners re-invests (€250K) — a continuity signal.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The team's headcount is stated as 13 in one document and 15 in another — a minor inconsistency.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A commercial or sales leadership track record at scale is not evidenced in the pack.</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Product-market fit</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Alma® is deployed across 20 named health and education centres, including reference hospitals (Hospital Nacional de Parapléjicos Toledo, Niño Jesús, San Juan de Dios), which the company and press describe consistently. Three verticals — rehabilitation, elder care and education — are described in detail, with named clinical opinion leaders and studies underway with Cruz Roja and McGill.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Real deployments in recognised reference institutions.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Clear, detailed product tiers for centres, analytics and home use.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Named clinicians and clinical studies support the use case.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The pack does not say which of the 20 centres are paying customers versus unpaid pilots.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Retention or repeat-usage data by site is not in the pack.</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Traction & growth</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The company reports €500K+ revenue to date, 1,000+ users and monthly recurring revenue of €16K. Its own filed accounts show revenue of €261,423 in 2025 (provisional), down from €413,908 in 2024 and up from €116,155 in 2023. In 2024, roughly 88% of revenue (€367,919) came from one client, CUSTER Investigaciones AIE, which also appears on the balance sheet as a related party owing €317,401. The company reports a €13.1M pipeline and €800K+ contracted for 2026.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Revenue is real and verifiable in filed accounts, not merely projected.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The cumulative client count grew 8 → 15 → 20 across 2023–2025.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A large stated pipeline across education, nursing homes and home care.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Revenue fell year-on-year from €414K (2024) to €261K (2025) — quoted from the company's own P&L.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">2024 revenue was ~88% concentrated in a single, related-party client.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The pipeline and 2026 contracted revenue are not backed by signed contracts in the pack, while the plan steps up to €1.0M in 2026.</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Market size</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The company frames a large opportunity driven by ageing populations, a shortage of care professionals and more than 50% unmet rehabilitation need. The underlying demographic thesis is well supported in public health-economics literature. The specific headline figures in the deck — €700bn annual healthcare-expenditure impact, 82% savings, >200M underserved people — are presented without a cited external source.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The ageing-population and workforce-shortage driver is genuine and widely documented.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The company addresses several large adjacent segments (rehab, elder care, education).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Regulatory tailwinds exist for validated digital-health tools in Europe.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The deck's specific market-size and savings figures carry no external citation.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">No sizing of the company's own realistically addressable segment is provided.</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Business model</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The model is business-to-business and to the public sector, combining hardware with SaaS subscriptions and analytics, plus a home offering reached via care providers. Named contract economics are given as targets — an education rollout at €11K rising to €48K monthly recurring revenue, nursing homes at €42K, and tele-rehab at €15K rising to €350K. The company forecasts revenue rising from €1.0M (2026) to €42.8M (2030) at an 85% margin.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A recurring-revenue (subscription) core with a credible channel mix.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Specific, named target contracts across three verticals.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A route to public-sector scale via the Community of Madrid and large care groups.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Unit economics — the cost to acquire and serve a customer, and margin by line — are not in the pack.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The forecast is a summary slide with no supporting model, and the 2026 step-up is not bridged with signed deals.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Historic results leaned on grants: 41% of 2024 income was subsidies, per the accounts.</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Competition</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Third-party trackers list competitors such as Cyberdyne, PARO, Wearable Robotics and Raccoon.World, confirming an active field. The company positions Alma® as differentiated by being AI-centred and hardware-agnostic (not tied to one robot), modular, personalised and clinically evidenced.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The hardware-agnostic, software-first positioning is a credible differentiator.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">CE-marked medical-software status is a real barrier competitors must also clear.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Established clinical relationships create switching friction.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">No head-to-head comparison or win/loss data is provided.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Several competitors are larger and better funded.</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Regulatory & compliance</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The company reports CE marking as Class I medical software, processes aligned to ISO 13485, GDPR compliance and UNE 62304 (medical-device software lifecycle). Press coverage repeats the CE-marked medical-software status. Class IIa and FDA steps are described as in progress — normal for this stage, and not a negative.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">CE-marked medical software is a meaningful, stage-appropriate regulatory achievement.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Quality processes aligned to recognised medical standards (ISO 13485).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A credible path toward higher classification (Class IIa) is described.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The specific certificates were not independently located in public registries (certificates are not always public).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The FDA / Class IIa status has no reference number or timeline in the pack — an item to confirm.</span></span></li> </ul> </td> </tr> </tbody> </table> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Technology risk</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The product descends from the NAOTherapist research project, with 10+ years of R&D and peer-reviewed founder publications, and is already in clinical use — indicating the core technology risk is largely retired. The balance sheet records €1,500 of registered industrial property.</span></span></p> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#edf3e6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">✅ Strengths</span></strong></span></span></p> </td> <td style="background-color:#fbe9e7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:307px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">⚠️ Concerns</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A long, published R&D lineage from a university research base.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The product is already deployed and functioning in clinical settings.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A multi-device, adaptive architecture is described in detail.</span></span></li> </ul> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:307px"> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Patent or IP filings are not referenced by number in the pack (recent filings can also be genuinely not-yet-public).</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The robot form factor depends on third-party hardware (e.g. NAO, Kebbi).</span></span></li> </ul> </td> </tr> </tbody> </table> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">💶 Valuation detail</span></span></h2> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Item</span></strong></span></span></p> </td> <td style="background-color:#e7ecf2; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Detail</span></strong></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>Pre-money valuation</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">€3.5M (Termsheet).</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Post-money valuation</span></strong></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Not stated. Indicatively ~€3.6M–€4.25M depending on which round size applies; not reconciled in the pack.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>Instrument</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Ordinary shares (equity), held via a platform holding vehicle (SPV) that invests in the company.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Ownership % offered</span></strong></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Stated two ways: 1.24%–6.59% (Termsheet) and 2.77%–9.09% (platform disclosure). The exact percentage per euro is therefore not unambiguous from the pack — see the questions section.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>How the valuation was set</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Stated as an assumption based on the fully-diluted cap table; no comparables or formal method is shown in the pack.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">External benchmarks</span></strong></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">Health-tech sale multiples of ~4x–6x revenue generally, and 6x–8x+ for AI-native platforms with proprietary data and workflow integration (Nelson Advisors, 2026; Windsor Drake, Q1 2026). At €3.5M pre on €261K revenue, this is ~13x revenue — above those benchmarks. No sector-and-stage comparable rounds or exits were found.</span></span></span></p> </td> </tr> <tr> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Valuation fairness (1–5)</span></strong></span></span></p> </td> <td style="background-color:#faece7; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><span style="color:black">2 / 5 — above the benchmarks we could find, resting on two named independent sources (Nelson Advisors; Windsor Drake). Note: pricing a pre-scale company on a revenue multiple is only one lens — a buyer may pay for the platform and clinical validation rather than current revenue — but on the benchmarks available, the entry price is high.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:193px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>Notable terms</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:420px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Holding-vehicle (SPV) structure; a 20-year term on the SPV shareholders' pact; a platform success fee of up to 10% on gains plus up to 6% on the investment; the €1 early-exit buy-back; and an investor put over founders' shares.</span></span></p> </td> </tr> </tbody> </table> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">🚩 Red flags & integrity checks</span></span></h2> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:40px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>1</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:573px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>Missing critical data — </strong>the round size and the ownership percentage differ across the company's own documents; the post-round cap table, the signed contracts behind the pipeline, and unit economics are not in the pack we reviewed.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:40px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">2</span></strong></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:573px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Internal inconsistencies — </span></strong><span style="color:black">headcount stated as 13 (one-pager) and 15 (deck); round size €50K–€280K (Termsheet) versus €100K–€350K (platform disclosure); 2025 revenue of €261K versus a €1.0M plan for 2026, unbridged.</span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:40px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>3</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:573px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>External discrepancies — </strong>none against the company. One third-party database (Tracxn) misnames the founder as “Denys Bachynskyy”, contradicted by UC3M, LinkedIn and press; this is a database error, not a company claim.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:40px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">4</span></strong></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:573px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Negative public information — </span></strong><em><span style="color:black">None found in public registries or news searches.</span></em></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:40px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>5</strong></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:573px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>Prior fundraises — </strong>prior institutional backing is confirmed (Grow Venture Partners, Capital Cell, CaixaImpulse, Impulse2Grow, Madrid Emprende, Alhambra Venture; roughly €330K disclosed across databases). Grow returns as lead here — a positive continuity signal; whether earlier milestones were met is not independently establishable.</span></span></p> </td> </tr> <tr> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top; width:40px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">6</span></strong></span></span></p> </td> <td style="background-color:#f5f6f8; border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top; width:573px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">Valuation reasonableness — </span></strong><span style="color:black">€3.5M pre-money is ~13x 2025 revenue, above the ~4x–8x health-tech benchmarks found (Nelson Advisors; Windsor Drake, 2026). Recorded as a comparison; no sector-and-stage comparable rounds or exits were found to price against.</span></span></span></p> </td> </tr> </tbody> </table> <h2><span style="font-size:12.5pt"><span style="font-family:Calibri,sans-serif">📜 Instrument & investor terms — full mechanics</span></span></h2> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">What you own — in full</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">You buy ordinary shares in a holding vehicle (an “SPV” — a company set up purely to pool investors) that then invests in Inrobics. You do not hold Inrobics shares directly. Your vote is pooled: the SPV's sole administrator (proposed to be Startupxplore's entity, Startup Ventures, S.L.) votes the underlying shares according to the majority instruction of the SPV's investors, and abstains where no majority is reached. In practice, your influence is exercised only through that pooled mechanism, and decisions to sell reach you through the SPV.</span></span></p> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Dilution — how your share can shrink</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The company frames this as a seed / pre-Series A round and refers to future rounds, so further fundraising is expected — each new round would reduce (dilute) your percentage unless you invest more. The company's shareholder agreement gives its investor share classes anti-down-round protection (if a later round is priced lower, founders top them up with extra shares); this sits with investor classes broadly rather than specifically with the crowdfunding pool. Existing shareholders have rights to join future rounds (pre-emption).</span></span></p> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong>Illustrative example (mechanics only — exact percentages depend on the unresolved round figures). </strong>If you invested €1,000 at a €3.5M pre-money valuation, you would start with roughly 0.028% of the company. If the company later raised a round that issued 25% new shares, your stake would fall to about 0.021% — unless you invested more to keep your share. This is an illustration, not a quote, because the exact round size and share count are not settled in the pack.</span></span></p> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">If the company is sold or wound down</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">Payout order in plain words: lenders are paid first; then shareholders get back the money they put in as share capital and premium, in proportion to what each contributed; then whatever remains is split among all shareholders in proportion to their holdings. There is no special class that takes a disproportionate share of the surplus — so you share in the upside. A majority can require everyone to sell in a full-company sale (a “drag-along”): at company level this can be triggered after 24 months with a majority including an investor majority, or after 48 months on an investor majority, with an expert-set price floor (a sale below 70% of an independent valuation is blocked unless agreed). You also have the right to join a sale on the same terms (a “tag-along”). There is no public market for these shares and no buy-back promise; the only company-provided early exit is selling your holding back to the SPV for €1 — that is, giving it up rather than selling at value.</span></span></p> <h3><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Terms not in the pack we reviewed</span></span></h3> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">These exist in the shareholder documents and could have been disclosed — a genuine gap, unlike day-to-day operating figures. Each also appears as a question above.</span></span></p> <ul> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The post-round cap table — who owns what percentage of Inrobics after this round.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The completed articles of the holding vehicle (SPV) — its name, domicile and capital were left blank in the template provided.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">The syndication agreement that governs exactly how your pooled vote is decided and exercised.</span></span></li> <li><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif">A single, reconciled figure for the round size and the ownership percentage this round represents.</span></span></li> </ul> <table cellspacing="0" class="Table" style="border-collapse:collapse; border:none; width:613px"> <tbody> <tr> <td style="background-color:#eaf0f6; border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top; width:613px"> <p><span style="font-size:10pt"><span style="font-family:Calibri,sans-serif"><strong><span style="color:black">ℹ️ This is not investment advice. </span></strong><span style="color:black">The purpose of this overview is to help potential investors preselect crowdfunding projects quickly. Before investing, the final selected project should be reviewed in detail based on the information provided by the company on the respective crowdfunding platform, and you may want to seek independent professional advice.Memo generated by AI from public information and platform-disclosed company materials. Investors must perform their own due diligence. Past fundraising or operational performance does not guarantee future results. Crowdfunding investments are illiquid, high-risk, and capital loss is possible.</span></span></span></p> </td> </tr> </tbody> </table> <p> </p>
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StartupXplore ES
Mindestinvestition
EUR 1000
Finanziert
EUR 23,0M
