Maine Avenue Technologies S.L. (MAT), a Spanish company specializing in software and hardware solutions for the secure refurbishment of smart devices within the circular economy sector, has successfully closed a €200,000 Seed funding round. The transaction, supported by business consultancy and M&A boutique Dydes, was completed on May 14, 2026.
The round attracted new institutional investors, including Eoniq.fund and Austral, alongside several private investors.
The capital raised will be primarily allocated to strengthening the company's marketing and sales capabilities, expanding its team, and accelerating product development, including enhancements to existing solutions and the creation of new prototypes and use cases.
Founded in 2003 by Javier Contreras and Francisco del Sol, MAT has been developing a differentiated technological proposition for the refurbished devices market since 2019, covering products such as tablets, televisions, smartphones, and other connected devices. The company offers an integrated software and hardware platform that enables secure and efficient processes including data backup, certified data erasure, device diagnostics, refurbishment, and condition assessment, both in specialized technical centers and at retail locations.
MAT's key differentiator lies in its combination of security, automation, and ease of use. The solution has been designed so that operators can perform complex refurbishment processes without specialized training, simply by connecting the device and selecting the desired operation.
Furthermore, MAT has become the first company in its sector to develop a solution that simultaneously addresses refurbishment requirements, user security, and data privacy concerns—an increasingly critical factor in a market driven by the reuse of electronic devices and growing awareness of data protection.
The company holds the highest security certification available for refurbishment processes and has also obtained ADISA certification, reinforcing its position as a leading provider in a rapidly expanding market.
"This funding round will allow us to accelerate our commercial growth and continue developing innovative solutions that facilitate the safe reuse of smart devices," said Javier Contreras, CEO and Co-Founder of Maine Avenue Technologies. "We believe the refurbished device market will continue to grow significantly over the coming years, and we aim to establish ourselves as the leading technology provider for operators across the sector."
Eduardo Cortés, M&A Director at Dydes, added: "MAT combines two attributes that are highly attractive to investors: a differentiated technology platform with significant barriers to entry and a market with substantial growth potential driven by the circular economy and increasing demand for refurbished devices. Their technological leadership and accumulated expertise position them exceptionally well to capture this opportunity."
With this transaction, the company enters a new phase focused on acquiring new customers in the Spanish market while strengthening its technological leadership in a sector that is becoming increasingly strategic for sustainability and the circular economy.
About Maine Avenue Technologies (MAT)
Maine Avenue Technologies is a Spanish technology company specializing in the development of software and hardware solutions for the secure refurbishment of smart devices. Its technologies automate data erasure, diagnostics, refurbishment, and device management processes, contributing to the reuse of electronic equipment and the advancement of the circular economy.
About Eoniq Fund
Eoniq Fund is an investment firm focused on early-stage technology companies across Southern Europe. Active as investors since 2010, Eoniq has been one of the pioneers in financing startups outside Spain's traditional investment hubs, building a broad network of entrepreneurs, co-investors, and ecosystem experts. Beyond capital, the firm is known for actively supporting portfolio companies in their professionalization, growth, and strategic development.
About Austral
Austral is an Andalusian investment management firm with extensive experience in the construction, financing, and operation of projects linked to strategic sectors. Through its Venture Capital vehicle, Austral invests in pre-seed startups closely connected to industry, including companies such as Biomixing, Oritia & Boreas, and Solaris Vita.
Over the years, the team has participated in more than 60 transactions, providing industrial expertise, a long-term perspective, and experience in projects that generate positive societal impact.
https://www.australventures.eu
About Dydes / Magenta Group
Based in Madrid, Dydes (Magenta Group) is a business consulting firm and M&A boutique that advised MAT throughout the fundraising process and capital-raising strategy. Operating across Spain with a team of more than 25 professionals, the firm specializes in supporting companies and management teams in growth, strategy, planning, organizational development, management information systems, and M&A and capital-raising transactions.
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