Clave Capital, a leading venture capital firm in technology transfer in Spain with more than 20 years of experience in the sector, has exited Uptech Sensing, an engineering company with its own product specialized in the supply, deployment and commissioning of fiber optic-based monitoring solutions.
The sale of its stake has allowed it to obtain a 2.4x multiple for its Navarra Tech Transfer F.C.R. fund, launched in 2017 by the Government of Navarra through Sodena via a FEDER funds program, aimed at supporting technology transfer projects in the Chartered Community of Navarra.
Uptech Sensing has full capabilities in the design, manufacturing, installation and commissioning of turnkey solutions. Only a few companies worldwide can offer this comprehensive engineering independently, and only around a dozen companies have the global capability to design and manufacture DFOS equipment. The company currently has a multidisciplinary team of 25 technical professionals and is certified as an innovative SME, holding ISO 9001 and ISO 14001 quality certifications.
Its solutions, already deployed in Europe and the Americas, enable continuous, real-time monitoring of critical infrastructures, offering advantages such as early anomaly detection, predictive maintenance, protection against external threats and efficient management of critical assets.
The fund’s stake has been acquired by Arteche, a global leader in equipment and solutions for the electricity sector. This transaction is part of its inorganic growth strategy set out in Arteche’s 2024–2026 Strategic Plan “Energizing Futures Together”, which includes identifying opportunities to expand into new geographies, incorporate cutting-edge technologies and enter new market segments.
Clave would like to extend its congratulations to the entire team, led by Javier Urricelqui, as well as to Arteche for the synergies generated between the two companies to continue leading technological innovation in such a strategic sector as electricity from Spain. In particular, Santiago Lozano, partner, director of the Navarra Transfer F.C.R. fund and board member of Uptech during these years, highlights the team’s strong capabilities, commitment, dedication and deep knowledge of the market and of DTS (Distributed Temperature Sensing), DTSS (Distributed Temperature and Strain Sensing) and DAS (Distributed Acoustic Sensing) technologies, which have enabled them to deliver projects with major national and international operators.
With this divestment completed in March 2025, Clave continues its strategic commitment to technology transfer and value creation from the early stage through to exit, having completed four exits last year with an average multiple of 4x invested capital.
Clave has invested more than €40 million over the last 10 years in Deep Tech and has promoted several funds with a total size exceeding €100 million in tech transfer, working with universities (UPV, UNAV), corporations (Mondragon Corporation), and through vertically focused funds in sectors such as healthcare and foodtech, in both cases involving various industrial partners and leading funds alongside the different stakeholders that make up the tech transfer ecosystem
cloud technology axon
AIVORIQ has grown significantly since Alantra PE launched the project....
