By Philippe Simon

Factus was co-founded in 1999 by Rubén Bonet, its president and CEO, and Carles Puente Baliarda. It originally positioned itself as a products and services company, developing customised antennae for leading smartphone manufacturers (Samsung, LG, Siemens) and network operators (Telefonica). The firm was in consolidation phases until 2002. During this time it was able to raise EUR 20m from first-tier venture capital firms and to expand its workforce to 30 employees. International expansion followed with the opening of an office in Korea in 2003, with annual sales revenues reaching EUR 4m and staff expanding to 70 employees shortly afterwards.