Amazing Up closes 2023 with revenue exceeding 1M € and 13% EBITDA

The technology company bolsters its funding round with a margin improvement of 12.82% for new investors

Amazing Up, Ingeniería Interactiva del Ocio, SL, has seen a 30.73% increase in revenue in 2023, reaching over 1.2 million euros, according to the final annual accounts released this week. Located in the science park of Universitat Jaume I de Castellón, the company specializes in disruptive technologies for the S.T.D. (smart tourist destination), heritage, and cultural sectors. It also reported a significant boost in profitability, achieving an EBITDA margin of 13.30% on its revenue. Juan José Ortiz, the CEO, stated: «These figures affirm the company’s growth and sustainability. We have achieved our sales and profit targets, providing a solid foundation for our expansion plans over the next five years.»

Ortiz also noted that the Strategic Plan for 2024-2028 aims to develop new technological products based on in-house Artificial Intelligence and multi-screen management software, as well as to penetrate new international markets, particularly in the Persian Gulf and Latin America. For these initiatives, Amazing Up has initiated a second capital increase of 450,000 euros, supplemented by an ENISA loan of 300,000 euros, to fund the company’s growth strategy for the upcoming five years.

In the market, Amazing Up has offered 13.23% of its shares for 450,000 euros, with a pre-money valuation of 3.4 million euros. The 2023 outcomes have significantly raised the company’s valuation to 3.9 million euros. Nonetheless, the Castellón-based tech firm has chosen to maintain its initial pricing, effectively applying a 12.82% discount on the current valuation for the benefit of new investors participating in this round.

Following a prior capital increase that welcomed Prensa Ibérica Media into its shareholding—a major Spanish media group holding about 7% through its subsidiary Zeta Digital—this round marks Amazing Up’s second capital expansion. The remaining shares are held by the founding partners. Aligned with its Strategic Plan, the company is poised to increase its revenue tenfold over the next five years and deliver an 11-fold return to investors. Amazing Up also plans to enter the BME Growth stock market in the medium term.

With nearly a decade of experience, Amazing Up has solidified its presence with an extensive range of proprietary solutions in Artificial Intelligence, Extended Reality (Virtual, Augmented, and Mixed), geopositioning, the Internet of Things, Big Data, Smart City, and museum-based disruptive technologies, customized for client-specific projects. This adaptability has facilitated a sustained revenue growth rate of over 30%, which it aims to enhance by entering new international markets. Moreover, the firm has consistently improved its margins and adapted effectively to technological shifts.

Recognized as an innovative company by the Association of Science and Technology Parks of Spain (APTE), Amazing Up harnesses its substantial expertise in the creative and technological industries. It predominantly serves the digital, tourism, education, and leisure sectors, which collectively contribute to over 40% of Spain’s GDP. The company has developed unique solutions, leveraging an interdisciplinary team of more than 20 professionals in engineering, computing, design, and communication.

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