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Blaine, the leading technology platform in the artificial vegetation market, has raised 2.3 million euros in a series A financing round that will be used to continue promoting its international expansion and scale the personalized decoration service, thus strengthening its position as a leader in the industry and confirming the commitment to its own technology

Barcelona, ​​March 4, 2024.- Blaine, the leading technology platform in the artificial vegetation market, has raised 2.3 million euros in a series A financing round that will be used to continue promoting its international expansion and scale the personalized decoration, thus strengthening its position as a leader in the industry and confirming its commitment to its own technology. This new round has been led by a family office from the Canary Islands and has had the support of previous investors in the company, including Draper B1 and Archipélago Next, among others. On the other hand, ENISA has reinforced the investment round through public financing.

The company, founded in 2019 by Óscar Gallego, Carol Frau and Carles Grau, has the mission of transforming and simplifying the decoration of spaces for B2B and B2C through artificial vegetation, incorporating purchasing, design, manufacturing, delivery and assembly services in an "all-in-one" platform, integrating AI to optimize design and customer service processes. Thanks to this platform, Blaine has been able to disintermediate its value chain by manufacturing its own product with 98% realism and a much more competitive price.

"Blaine has experienced rapid consolidation in the European market and is now preparing its expansion to reach the United States, a strong market with great competitors," says Óscar Gallego, CEO and co-founder of Blaine. Furthermore, he stated "We are in a constantly expanding market, not only in Spain, but throughout the world. According to a market study, it is estimated that by 2028 the market will reach 37 billion euros. In this context , our position as leaders will be fundamental to guarantee our long-term success."

The funds obtained in the round will allow the company to continue developing the digital platform to simplify and optimize internal operational processes with the aim of continuing to promote its aggressive growth plan with the focus always on profitability. "Our platform is capable of generating images through AI by inserting products from our catalog into the client's space without the need for a specialist. This allows us to be much more profitable and scalable, since we require fewer resources," says Óscar.

Consolidation and growth

The year 2023 has marked a significant milestone for Blaine, as it has managed to consolidate its international presence. In response to its rapid and extensive expansion, the company has expanded its logistics center by more than 4000m², integrating it with its plant factory to ensure a more efficient and agile supply chain. These improvements have led to notable growth in the team, preparing it to successfully address the next year.

Blaine's service for professionals has experienced growth, multiplying turnover by four compared to the previous year, giving businesses such as restaurants, hotels and offices the opportunity to decorate in a unique, agile and personalized way. This has marked a turning point in the business, since it has been able to validate that both the B2C and B2B sectors are very important in the market. The continued expansion of the services offered by Blaine has driven growth that has exceeded the expectations established in the 2023 plan.

Contact

Contact name: Andrea Recoder

Contact description: Blaine Box. Head of Social

Contact phone: 634029053