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Venture Capital

European and Indian Startups Fundraising News

Newnex's latest track on the venture capital investment landscape across Europe and India. Stay informed as we delve into insights, fundraisings, and strategies shaping venture capital and startup scaling.We tracked $1.1+ billion fundraisings in the European and Indian VC markets.Top of the mind:Temasek steps-up European commitment with Paris officeNorway's wealth fund says no investing in private equityEVs are facing a tough timeMustafa Suleyman appointed CEO of Microsoft AIImpact of EU's Digital Markets Act and FTA's actions on big-techY-Combinator visiting London and 3-universities in UKIndia Venture Capital Report 2024 - Bain & CompanyEuropean startup fundraisings ($930m):Mission Zero Technologies, a cleantech company specializing in direct air capture (DAC), has disclosed a successful Series A funding round, raising £21.8 million. Leading the investment is 2150, with significant participation from World Fund, Fortescue, Siemens Financial Services, and Breakthrough Energy Ventures. Crosstown H2R, a climate technology startup based in Baden, has emerged from stealth mode, revealing that it has secured over €2 million in subsidies and grants from the Swiss Federal Office of Energy (SFOE) and additional investors. UpHill Health has secured a Series A funding of €7 million. The funding round was spearheaded by Portugal's private equity firm, Explorer, along with the collaborative support of the joint social impact fund of Redstone and EnjoyVenture. Previous investors, including Brighteye Ventures, Maze, Caixa Capital, and Grupo Luz Saúde, have reaffirmed their confidence in the company by backing it once more. The startup Candela has unveiled a new capital infusion of €24.5 million, with French boat manufacturer Groupe Beneteau joining as a new investor, alongside the return of existing backers such as EQT Ventures and Ocean Zero LLC. This funding will be allocated towards further enhancing its technology and expanding its sales team. French fintech Xaver has introduced its B2B AI platform tailored for life insurance and private pensions, alongside announcing the successful procurement of €5 million in Pre-Seed. Leading the investment are Motive Ventures and Cavalry Ventures, with participation from a cohort of former C-level executives from banks and insurers, including Martin Blessing (Commerzbank, UBS), Thomas Münkel (Allianz Group, UNIQA), and Matthias Setzer (Meta, PayPal). Additionally, founders such as Julian Teicke (Wefox), Raffaele Terrone (Scalapay), Felix Ohswald (GoStudent), Elmar Broscheit (Gorillas, Macquarie), Michael Wax (Forto), Jessica Holzbach (Penta/Pile), Tushar Ahluwalia (Razor Group), and Christian Reber (Pitch, Superlist), alongside Mario Götze, are among the investors. Fintech scouts from Sequoia, a16z, Lakestar Scout Fund, and EQT Ventures, along with participation from further funds like Robin Capital, The Delta, and Notion Capital, further contribute to the funding round. German embedded finance platform Solaris SE has confirmed the finalization of its €96 million Series F round, with primary backing from SBI Group alongside other existing investors. Eindhoven-based EFFECT Photonics, a firm specializing in highly integrated optics solutions, has revealed the successful closure of a $38 million Series D funding round. Innovation Industries Strategic Partners Fund spearheaded the investment, supported by Dutch pension funds PMT and PME, alongside co-investor Invest-NL Deep Tech Fund, and the involvement of other existing investors. Innatera, headquartered in Rijswijk, South Holland, and renowned for its groundbreaking ultra-efficient neuromorphic processors, has revealed the successful closure of a €15 million Series A financing round. This round was co-financed by the EIC Fund and existing investors MIG Capital, Matterwave Ventures, and Delft Enterprises. Additionally, the Invest-NL Deep Tech Fund is contributing €4.8 million to this Series A round. Stanhope AI, a London-based startup, aims to circumvent existing challenges with a novel AI approach, for which it has recently raised £2.3 million to further develop. The funding round was spearheaded by the UCL Technology Fund, given that Stanhope is a spinout from University College London. Additionally, Creator Fund, MMC Ventures, Moonfire Ventures, and Rockmount Capital have also participated in this investment round. Belgium-based e-peas, a fabless semiconductor company specializing in ultra-low power management for energy harvesting, has disclosed the successful procurement of €17.5 million in a new funding round led by Otium Capital. Joining as new investors are Nomainvest and EIC Fund, alongside the continued support of existing investors including KBC Focus Fund, The Faktory, Wallonie Entreprendre, Noshaq-Leansquare, and Start.Invest. Graswald.ai, a German 3D brand creation tool, has successfully raised $3.3 million in funding, co-led by Lakestar and Supernode Global. The platform offered by graswald.ai revolutionizes enterprise 3D content by providing a Figma or Canva-like experience for 3D, significantly enhancing customer engagement through immersive visuals. Cathedral Studios, a UK-based indie game development studio, has announced the successful closure of a Seed funding round amounting to $6.66 million. This investment, spearheaded by Arca and supported by significant contributions from key industry players including Hartmann Capital, LiquidX, IVC, 6th Man & Spartan, marks a significant milestone for Cathedral Studios as it endeavors to redefine the horror gaming genre. Greenly, a Paris-based leading carbon accounting platform, has secured a significant $52 million Series B funding round led by Fidelity International Strategic Ventures, with participation from new investors BGV (Benhamou Global Ventures), Move Capital, Hewlett Packard Enterprise (HPE), XAnge, Energy Impact Partners, and HSBC. Cure51 has secured €15 million in a seed funding round, led by Sofinnova Partners. Other notable contributors to this round include Hitachi Ventures GmbH, Life Extension Ventures, Xavier Niel, and Olivier Pomel, CEO, and co-founder of Datadog. Pelikan Mobility, a commercial fleet platform, has disclosed a successful seed round raising €4 million. The funding was secured from Pale Blue Dot, Frst, Seedcamp, and other investors. London-based Automated Architecture (AUAR), a construction tech startup, has revealed the successful closure of a £2.6 million Seed round of funding. This investment was spearheaded by deep-tech and AI fund Miles Ahead and Robotics & Automation Ventures (ABB RA Ventures). Additionally, Rival Holdings, Morgan Stanley, Vandenbussche Group, Bacchus Venture Capital, and angel investors Nicolas Bearelle, Stefano Bernardi, and Dob Todorov have also contributed to the round. CemVision a startup aiming to produce cement that is 95% greener than traditional options, has closed a €10M seed round with investment from Polar Structure, BackingMinds, and Zacua Ventures. Supported by the EQT Foundation and Breakthrough Energy, CemVision has also garnered interest from a diverse array of venture capital investors, including Playfair Capital, Norrsken VC, and Kompas VC, as well as energy companies like Vantaa Energy. Green PRAXIS, a startup specializing in supporting operators and infrastructure owners in managing natural assets, has disclosed the successful completion of its Seed fundraising round. The funding was secured from a consortium of investors, including Open CNP, the CNP Assurances Corporate Venture fund, AFI Ventures, the Ventech early-stage impact fund, as well as historical investors. Buddywise has announced the closure of its €3.5 million seed round aimed at preventing workplace accidents in industrial spaces across Europe. The funding round was co-led by specialist AI fund J12 and Kvanted, with participation from Soundcloud founder Eric Quidenus-Wahlforss. Firecell, empowering industrial enterprises of all sizes to embrace smart industry solutions, has revealed the successful conclusion of a €6.6 million Seed round in equity. The funding was led by Ventech and Matterwave Ventures, with participation from Bpifrance's Digital Venture fund and Bouygues Telecom Initiative. A new wealth-building platform named Belong has emerged from stealth mode after securing an impressive £2.95 million in Pre-Seed funding. Notably, this marks the largest Pre-Seed round ever raised by female founders in Europe. Additional investors in the venture include Octopus Ventures, Viola Fintech, Connect Ventures, Portage Ventures, and January Ventures. Moreover, prominent Fintech angel investors Ricky Knox and Gautham Radhakrishnan, along with Nutmeg co-founder William Todd, leading UK Economist John Kay, and tech industry expert Edwina Johnson have also joined in supporting the venture. Dema.ai, a prominent predictive analytics platform for e-commerce, has finalized a €7 million seed funding round. The investment is spearheaded by J12 Ventures and Daphni, along with a consortium of high-profile angel investors. The primary objective of this funding is to facilitate the company's continued growth and the advancement of its innovative predictive analytics tool. Global Screening Services (GSS), headquartered in London, a regulatory compliance platform assisting financial institutions in fulfilling their global sanctions obligations, has secured $47 million in a funding round. Notably, the company had previously raised a similar amount last year from prominent backers such as Japan’s Mitsubishi UFJ Financial Group (MUFG), one of the world’s largest banks. In this recent funding round, GSS has disclosed another significant supporter: the Commonwealth Bank of Australia (CBA), alongside Cynosure Group and AlixPartner, contributing to this latest cash infusion. Medtech company Protembis has successfully raised a €30 million Series B round aimed at supporting the enrollment of their PROTEMBO Investigational Device in clinical trials. This funding round was co-led by a European consortium of VC investors, including Segulah Medical Acceleration based in Sweden, XGEN Venture from Italy, and TechVision Fund based in Germany. Additional investors in the round include Coparion, several large family offices, and angel investors. Clean Food Group (CFG) has disclosed a funding of £2.5 million. This capital injection is designated for the ongoing development of CFG’s sustainable oil and fat alternatives, paving the way for a scheduled commercial launch in 2025. The funding round was spearheaded by Clean Growth Fund, a prominent investor specializing in low-emission companies across various sectors including power and energy, buildings, transport, agriculture, water, and waste. Frankfurt-based Gunzilla Games, a AAA games developer, has revealed the successful acquisition of a combined funding totalling $30 million. This includes a $10 million strategic token round, co-led by CoinFund and Avalanche’s Blizzard Fund, with additional participation from Republic Capital and Morningstar Ventures. Paris-based Metyos, a medtech startup focusing on chronic kidney disease (CKD), has announced the successful closure of a €2.3 million pre-seed round of funding. The investment was spearheaded by Cenitz, with participation from KIMA Ventures, Advans Lab, and Bpifrance. Additionally, the round saw support from doctors, health insurance angels, and business leaders from Implicity, Deepmind, and Nabla. Sweden-based Arevo AB, a biotech company specializing in enhancing plant growth for a healthier planet, has disclosed a funding round amounting to €3.1 million from new investor Industrifonden. Additionally, existing investors Navigare Ventures, Fort Knox, Stora Enso, and Kempestiftelserna have collectively contributed an additional €3.5 million to further bolster Arevo's growth initiatives. UK biogas tech company WASE has unveiled a successful fundraising effort, amassing over £8.5 million, which includes £2.4 million in non-dilutive funding. Extantia Capital led the financing round, with participation from Hitachi Ventures, WEPA Ventures, and Engie New Ventures, the corporate venture capital arm of global energy company Engie. Additionally, Elbow Beach Capital and Empirical Ventures have also contributed to the investment round. London-based Oriole Networks, a startup leveraging light to train LLMs (Large Language Models) a hundred times faster with significantly less power consumption, has secured £10 million in seed funding. The round was co-led by UCL Technology Fund, Clean Growth Fund, XTX Ventures, and Dorilton Ventures, with support from Innovate UK Investor Partnership. Freital-based watttron, a frontrunner in digital temperature control systems, has secured €12 million in Series B funding. The round was spearheaded by the Circular Innovation Fund (CIF), a global venture capital fund dedicated to circular innovation and co-managed by European-based Demeter and North American-based Cycle Capital, along with the European Circular Bioeconomy Fund (ECBF). In addition to watttron's longstanding partners TGFS Technologiegründerfonds Sachsen, Constancia New Business (CNB), SKion GmbH, BA Mr. Rico Kleinhempel, new investors have also joined to support watttron's endeavor to drive sustainability in the packaging industry. London-based iCustoms, a company specializing in fully automated customs management solutions, has revealed the closure of a $2.2 million seed funding round. The investment was supported by Fuel Ventures, PlugnPlay, Outrun Ventures, Montblu Capital, SyndicateRoom, and prominent angel investors. Stockholm-based Agteria Biotech, a company specializing in biotechnology solutions for reducing methane emissions from livestock, has announced the completion of a €1.4 million pre-seed funding round led by Norrsken Launcher. The Swedish company intends to utilize the capital to develop scalable and cost-effective solutions aimed at addressing cattle methane emissions. The distributed cloud provider, Hive, has secured a €12 million Series A investment round led by SC Ventures. The revenue management platform ayora has disclosed the successful acquisition of $1.6 million in a Pre-Seed funding round. J12 spearheads the funding, with Twin Path Ventures also participating. Additionally, a group of angel investors, including Farah Ballands (former CEO of Estera and Appleby partner), Roger Siddle (former Chairman of Lawyers on Demand, UK Managing Partner at Bain), and Abhijat Saraswat (CRO of Lupl, former Senior Director at Litera), have contributed to the round. AI-powered computer vision company, Robovision, has successfully raised $42 million in its latest investment round. Target Global and Astanor Ventures took the lead in this round, with additional participation from Red River West. Digital health company Wellola has confirmed the completion of a €2.2 million funding round, elevating its total funding to €4 million. Elkstone spearheaded the investment, with additional contributions from Enterprise Ireland and Bay Advisory. Bavest, a B2B fintech company based in Frankfurt and Munich, has revealed the successful closure of a €1.1 million pre-seed round of funding. This latest round boasts notable backers including Christian Trummer from Bitpanda, ReZoom Capital, Nautic Ventures, Jens Rehwinkel, Dieter Staib, and senior figures from leading consultancies and the fintech sector. London-based Metaview, an AI-powered interview note-taking platform catering to recruiters, has disclosed the successful closure of a $7 million fresh funding round. The round was led by Plural, with participation from Coelius Capital and existing investors Vertex Ventures US, Seedcamp, and Village Global. Notable angels such as Kyle Parrish (Figma VP of Sales) and Barney Hussey-Yeo (Cleo co-founder) also contributed to the round. The digital health startup Tonic App has finalized a Series A funding round of €10.85 million. Leading the investment are BlueCrow Capital and Iberis Capital. Additionally, Vesalius Biocapital III, Armilar Venture Partners, Shilling VC, and FSNB Health & Care have also joined in as participants. Stippl, a comprehensive travel app, has announced raising over €575k in funding. Supported by Marbruck Investments from Australia and Volve Capital from the Netherlands, the tech firm intends to enhance its AI-powered travel planning feature. Berlin-based Recare, a SaaS platform simplifying patient transfers from hospitals to care providers, has announced securing €3.2M in new funding to enhance its digital discharge management marketplace in Germany. The funding encompasses contributions from existing investors and a €2M loan facilitated by Gilion, renowned for assisting tech companies in accessing funding and projecting growth. Helsinki-based Onego Bio, a food-biotech company, has disclosed securing $40M in a Series A funding round led by NordicNinja, marking one of the largest A-rounds in the Nordics. The round also saw equity investments from Tesi and EIT Food, alongside contributions from existing investors Agronomics, Maki.vc, Holdix Turret, and specific strategic partners. Luminance has secured $40M in funding for its Series B round. The company aims to fulfill a longstanding prediction in legal circles since ChatGPT's release: that LLMs will be capable of handling a significant portion of paralegals' tasks. March Capital led the round, with contributions from National Grid Partners and existing investors, including Slaughter and May. Coadjute, headquartered in London and specializing in property technology, has revealed securing new funding from notable entities including Lloyds Banking Group, Nationwide, NatWest, and Rightmove. Sparxell, a UK-based company specializing in the development of high-performance, sustainable, plant-based pigments, has successfully concluded a $3.2 million funding round. This round comprises Seed investments, grants, and awards. Among the investors participating in the seed funding is The Circular Innovation Fund, a global venture capital fund jointly managed by Demeter and Cycle Capital, with L’Oréal as an anchor investor. Other contributors include Future Communities Capital, sustainability-focused investor PDS Ventures, impact investor Katapult, biotech and consumer sectors investor Joyance Partners, and climate investor SNØCAP VC. Supersimple, headquartered in Tallinn and known for its AI-native data analytics platform, has revealed securing $2.2M in a pre-seed round of funding. The platform enables users to delve into data and offer accurate responses to intricate queries within minutes. Leading the investment is Tera Ventures, with involvement from Specialist VC, Tiny VC, and several angel investors, including the former CTO of Twilio and the founders of Sixfold and Grünfin. Telness Tech, headquartered in Stockholm and specializing in software solutions for the telecommunications industry, has announced raising €5 million from its two major shareholders — Industrifonden and Viltor (JCE Group). XUND, a health tech scale-up headquartered in Vienna, has revealed securing €2 million in an extended Seed funding round. The funding round saw participation from new investor Thieme Group, alongside existing investors such as MMC Ventures and MassMutual Ventures. Alrik, an operations software provider, has recently secured €1 million in seed funding from global venture capital firm Pi Labs. Alrik aims to address the construction sector's significant carbon footprint by implementing sustainable practices. Warwick Acoustics, known for its patented loudspeaker technology poised to transform in-car audio systems, has secured an additional £7 million in funding. Mercia Asset Management spearheaded the funding round, which also saw participation from NFU Mutual and various private investors. Fluid Topics, a digital platform facilitating automated customer service, has secured a Series B round of €15M from Kennet Partners. Among its previous investors are Ventech, a pan-European early-stage venture capital firm, and Credit Mutuel Innovation. Pigment, a platform aiding organizations in business planning and strategic decision-making, has disclosed a Series D funding round of €133 million. This round is spearheaded by ICONIQ Growth. Additionally, Sandberg Bernthal Venture Partners and numerous existing investors, including IVP, Meritech, Greenoaks, and Felix Capital, have also contributed to this funding round.Barcelona-headquartered HR unicorn Factorial has secured an $80 million go-to-market investment from General Catalyst, with GC covering a substantial portion of the expenses associated with acquiring new customers. This funding round comes after Factorial's oversubscribed $120 million Series C round in 2022, which was led by Atomico. Mimo, a financial management startup streamlining the administrative aspects of B2B payments, has secured £15.5 million in funding. Led by Northzone, this round will facilitate the launch of a new platform for the company. Additional investors joining the round include Cocoa Ventures, Seedcamp, and Upfin VC, alongside angel investors. Clyde Hydrogen, a Scottish cleantech company, has raised more than £1 million to support its decoupled electrolyser technology. This innovation is designed to enhance hydrogen production safely, at scale, and with low costs. The funding came from Zinc, the University of Glasgow, and a group of angel investors. Scavenger AI, a German startup specializing in data analytics and AI, has secured €1.1 million in Pre-Seed funding. This investment aims to empower companies to conduct intricate data analyses within seconds. HTGF led the investment round in collaboration with Calm/Storm Ventures, Femventix, and the B4i Fund. Fotokite AG, a Swiss-American company specializing in tethered drones for firefighting and public safety teams, has concluded its Series B funding round, securing $11 million. Leading the funding round is Carbyne Equity Partners, a European private equity firm focusing on nurturing European enterprises. Existing investors such as Swisscanto Private Equity Growth I and Credit Suisse Entrepreneur Capital Ltd also participated in the round.Kepler Vision Technologies, a prominent software developer in the healthcare industry, has received a €1.5 million investment from Dutch investment firm ROM InWest. This funding will support the worldwide dissemination of Kepler's groundbreaking fall detection product, Kepler Night Nurse, which aims to transform elderly care and ease the burden on healthcare workers. Indian Startup fundraisings ($177m): SuperK, a technology-driven grocery retail chain, has secured approximately $3.7 million in its Series A funding round. The round was led by Catalyst Trusteeship Limited. Additionally, VSS Investment Fund, Veltis Capital, Stargazer Fund, CoralBay Ventures, Silver Needle Ventures, HOF Profectus, IA Growth Opportunities, and Abhishek Goyal collectively invested the remaining amount in the round. JustDeliveries, a company offering logistics solutions for perishable goods, has secured $1 million in a pre-Series A funding round, with Nabventures leading the investment. Other investors, such as Faad Network, Anay Ventures, Caret Capital, and Mahansaria Family Office, also joined the round. Nabventures, a subsidiary of the National Bank for Agriculture and Rural Development (Nabard), is a venture growth equity fund focused on investing in startups within agritech, foodtech, rural fintech, healthtech, and edtech sectors. AdOnMo, an ad-tech firm based in Hyderabad, has secured approximately $7 million in its Series B1 funding round, marking its first significant investment since the Series A round led by Zomato last year. Healthcare expert Ravindranath Kancherla and his son Kancherla Pruthvinath contributed Rs 16.6 crore, while Qatar Insurance Company and ZNL Growth (Z Nation Lab) invested Rs 8 crore and Rs 1.80 crore, respectively. Additionally, a group of thirty-six individual investors, including Manish Kailash Chhabra, Vindhya Guduru, Vikram Malhotra, Usha Reddy Chigarapalli, and Desireddy Srinivasa Reddy, participated in AdOnMo’s Series B funding round. Aeria, a platform focusing on tenant experience and asset management for commercial real estate, has secured $1.8 million in pre-seed funding. Kalaari Capital and Foundamental led the funding round, joined by AC Ventures, AL Trust, and other investors. KreditBee, a digital lending platform, has secured $9.4 million in an extended Series D round from existing investors. Wiseanya Ltd led the round by contributing Rs 40.91 crore, while Motilal Oswal PE (via India Business Excellence) and Mirae Asset invested Rs 9.52 crore and Rs 1.15 crore, respectively. Premji Invest, MUFG Bank Limited, and NewQuest Capital also participated in the round with the remaining funds. Premji Invest holds the largest external stake at 23.44%, followed by Newquest Asia and Alpine Capital. SydeLabs, a startup specializing in AI security and risk management, has secured $2.5 million in its seed funding round, with RTP Global leading the investment. Picus Capital also participated in the round, alongside notable angel investors including Kunal Shah and Sai Srinivas Kiran.  Skyflow, a provider of software services that securely stores user data for companies, has secured an additional $30 million to expand its Series B funding round. This latest investment round was led by Khosla Ventures, along with continued support from existing investors including Mouro Capital, Foundation Capital, and Canvas Ventures. Sindhuja Microcredit, a next-generation microfinance firm, has successfully raised $14.5 million in its Series C funding round. The investment comes from GAWA Capital, through its vehicle Huruma Fund, and Oikocredit. Mave Health, a mental healthtech startup based in Bengaluru, has secured Rs 6 crore in a pre-seed funding round, with leading contributions from All-In Capital and Utsav Somani’s iSeed Fund. This funding round also attracted investment from prominent investors such as Bharat Founders Fund, Deepinder Goyal of Zomato, Kunal Shah of CRED, Mohit Kumar, and Vatsal Singhal of Ultrahuman. Additionally, angel investors including Gaurav Agarwal of TATA 1mg, Nandan Reddy of Swiggy, and Rohan Verma of BreatheWellBeing, among others, participated in the funding round. SingleInterface, a domestic SaaS platform, has secured $30 million in a funding round led by Asia Partners, an investment firm based in Singapore. PayPal Ventures also joined the round as a participant. The startup specializes in offering a range of tools aimed at assisting brick-and-mortar businesses in expanding their online presence. Its focus areas include digital marketing, customer engagement, and eCommerce solutions. ONO, an agritech startup, has secured $1.31 million in a seed funding round led by Aeravti Ventures, with involvement from Indigram Labs. The startup aims to utilize the raised capital to improve the agricultural supply chain and create economic growth prospects for farmers and ecosystem stakeholders across India's expansive APMC/MANDI network. Planys Technologies, a deeptech startup headquartered in Chennai, has secured $4 million in an ongoing pre-Series A funding round led by a varied group of investors. The startup funding round was led by Shell Oil Company, ONGC Startup Fund, MEMG Family Office, LetsVenture, Kris Gopalakrishnan, and Keiretsu Forum. Metalbook, a full-stack metal supply chain platform based in Delhi, has reportedly secured $3 million from Northern Arc, a Chennai-based RBI-registered debt financing firm. The Series A funding was led by Rigel Capital, with participation from Stride Ventures, Foundamental, FJ Labs, Axilor Ventures, and Trifecta Capital Advisors. In an extended Series A funding round, BeepKart, a comprehensive retailer of two-wheelers, has secured $6.5 million led by its existing investors. Participating in this round are Chiratae Ventures, Stellaris Venture Partners, and Vertex Ventures. This funding infusion will support the startup's expansion initiatives and strengthen its foothold in the market. Vodex, a startup specializing in generative AI, has secured $2 million in a seed funding round, with prominent investors Unicorn India Ventures and Pentathlon Ventures leading the investment. Arch0, a startup specializing in cloud security, has secured $1.25 million in a pre-seed funding round, with Leo Capital leading the investment. Additionally, a varied group of investors, including Village Global, Indian Silicon Valley Capital, Appreciate Capital, Supermorpheus, and others, participated in the round. This funding will support the expansion of the startup's core team and the enhancement of its artificial intelligence (AI) capabilities in cloud security operations. Bambrew, a cleantech startup, has secured $7 million in a series A funding round, consisting of a blend of debt and equity. The funding was spearheaded by Blume Ventures, with participation from Blue Ashva Capital, Mumbai Angels, Indus Capital, as well as angel investors such as Sreevathsa Prabhakar, Mandeep Manocha, and RK Narayan.ClaimBuddy, a platform offering assistance with health insurance claims, has disclosed raising $5 million in its Series A funding round. The investment was led by Bharat Innovation Fund, with participation from Japanese fund CAC Capital, as well as existing investors such as Chiratae Ventures and Rebright Partners. Neysa Networks, a startup specialising in AI cloud and platform-as-a-service, has raised $20 million in seed funding. The round was led by Matrix Partners India, Nexus Venture Partners, and NTTVC. This funding will support the development of their generative-AI-cloud platform as a service and observability solutions for both Indian and global markets. Recykal, a B2B waste management and recycling marketplace, has secured $13 million from a Category II scheme managed by 360 ONE Asset Management Limited. EyeMyEye, a full-stack eyewear platform, has secured $2.5 million in a new tranche as part of its pre-Series A round. RBA Finance & Investments, Ashish Ramesh Kacholia and Sachin Shah participated in this new funding. In a recent funding round, the medical diagnostics platform 5C Network has secured $3 million from Redwood India Healthcare Fund.Sprinto, a compliance automation platform catering to SaaS companies, has successfully raised $20 million in a Series B funding round. The round was spearheaded by Accel, with continued support from existing investors Elevation Capital and Blume Ventures.-----Newnex is the go-to global VC co-investors platform - select from global VCs and privately invite to co-invest in your current and future rounds.Startup Europe India Network - B2B growth platform for scaleups and industry and domain leaders and organizations to efficiently scale technology and science innovation.

16 Apr

Venture Capital

European Startups funded recently - Newnex Fortnight

19 March 2024 Newnex tracked $1.3+ billion in funding rounds over the past two weeks in European Venture Capital.  Catalog, a French startup, aims to develop a software-as-a-service (SaaS) solution designed to efficiently oversee B2B sales operations across multiple sales channels. The company has recently secured a €3 million funding round, with LocalGlobe taking the lead. Other notable investors in this round include HelloWorld, Kima Ventures, Motier Ventures, and ATI. eComID, a Swedish startup focused on empowering global online retailers to reduce online returns, has successfully closed an oversubscribed pre-seed round, securing €2.75 million. CapitalT led the funding round, with a follow-on investment from H&M Group Ventures and strategic angel investors. The capital injection will enable eComID to enhance its platform capabilities and extend its previously invitation-only solution to a broader range of brands. Phagenesis, a UK-based medical technology startup, has secured a $42 million Series D funding round aimed at launching its swallowing disorder medical device in the US market and extending its presence across Europe. This financing round saw co-leadership from EQT Life Sciences in the Netherlands and Sectoral Asset Management in Canada. Notable participation came from British Patient Capital, Northern Gritstone, and Aphelion as well. Gridcog, a cleantech software startup, has confirmed the acquisition of £3.3 million in funding. The company has engineered a clean energy simulation and tracking platform, empowering businesses venturing into clean energy projects, ranging from large-scale solar to EV charging, to identify the most suitable solutions for their commercial and market needs. Led by AlbionVC, the funding will fuel Gridcog's intensified expansion efforts across the UK and Europe, following a remarkable year marked by a five-fold revenue surge in these regions. Haiper, headquartered in London, has emerged from stealth mode, unveiling its video-generative AI platform. The company revealed that it has successfully raised $13.8 million in a seed funding round, with Octopus Ventures taking the lead. Monzo, the UK's foremost digital bank, has disclosed securing £340 million in a funding round aimed at accelerating its expansion initiatives. Spearheaded by CapitalG, the round also welcomes prominent global tech investors such as GV (Google Ventures) and HSG (HongShan Capital), alongside existing supporters like Passion Capital and Tencent. Sunfire, a German manufacturer of electrolyzers, has unveiled its successful €215 million Series E equity financing round. This significant milestone is bolstered by an additional term loan of up to €100 million extended by the European Investment Bank (EIB). Formalize, previously known as Whistleblower Software and headquartered in Denmark, has successfully secured €15 million in a Series A funding round. The investment, spearheaded by BlackFin Tech, the venture arm of BlackFin Capital Partners, will be instrumental in furthering Formalize's mission to become Europe's leading compliance software provider. Multiverse Computing, a Spanish company specializing in value-based quantum and quantum-inspired computing solutions, has secured €25 million in an oversubscribed investment round. The round was led by Spanish VC Columbus Venture Partners through their SCR, with significant contributions from Quantonation Ventures based in Paris and new investors, such as the European Innovation Council Fund, Redstone Quantum Fund, and Indi Partners, among others. Limbic, headquartered in London, has successfully raised a $14 million Series A round with backing from Khosla Ventures, aimed at expanding its product offerings to healthcare providers in the United States. The startup specializes in AI-driven mental health solutions, including a chatbot and clinical referral software. Notably, Limbic's chatbot is already utilized by 33% of the UK's NHS Talking Therapies services, benefiting approximately 260,000 patients. Additional investors in this round include LGBTQIA+ investment syndicate Gaingels and Illusian, the family office of Ilkka Paananen, co-founder of Supercell, a game development company. Cellcolabs, headquartered in Sweden, has secured $8.7 million from angel investors. The company focuses on producing specialized stem cells crucial for the development of cell therapy treatments targeting diseases linked to inflammation. Among the investors are Fredrik Österberg and Jens von Bahr, both cofounders of the publicly-listed casino technology company Evolution AB. Zama, a company specializing in open-source cryptography and developing cutting-edge Fully Homomorphic Encryption (FHE) solutions to safeguard privacy in blockchain and AI, has revealed a €67 million Series A funding round. Multicoin Capital and Protocol Labs lead the investment, with contributions from Metaplanet, Blockchange Ventures, VSquared, and Stake Capital. Notably, the funding round also boasts participation from blockchain luminaries such as Juan Benet, founder of Filecoin, Anatoly Yakovenko, co-founder of Solana, and Gavin Wood, co-founder of Ethereum and co-creator of Polkadot. Greenlyte Carbon Technologies (GCT), a Direct Air Capture startup, has revealed the completion of a €10.5 million Pre-Series A funding round. GCT has also secured two grants from the European Fund for Regional Development. Notably, alongside substantial contributions from existing investors such as Earlybird Venture Capital, Green Generation Fund, Carbon Removal Partners, and Board member Dr. Udo Jung, Partech has joined the investor consortium. Mews, headquartered in Amsterdam and renowned for its cloud-based property management system (PMS), has unveiled a significant milestone with the announcement of securing $110 million in funding. Kinnevik spearheaded this round, with notable participation from Revaia, Goldman Sachs Asset Management, Notion Capital, and LGVP. This investment has propelled Mews to unicorn status, valuing the company at $1.2 billion. Theia Insights, headquartered in Cambridge and specializing in deep tech, has revealed the successful closure of a fresh funding round, amassing $6.5 million. Leading this round is Silicon Valley's Unusual Ventures, with notable participation from Fidelity International Strategic Ventures and LA-based Clocktower Ventures, alongside several strategic angels. The influx of capital will be allocated towards further technology development and the expansion of services across both the US and Europe. Kurs Orbital, an Italian spacetech startup, has successfully secured €3.7 million in Seed funding to propel its innovative solutions into the in-orbit services and logistics market. OTB Ventures spearheaded this funding round, with participation from Credo Ventures, Galaxia (the Italian National Technology Transfer Hub for Aerospace of CDP Venture Capital), alongside Obloo Ventures and the regional co-investment fund Piemonte Next, created and managed by CDP Venture Capital and supported by the Financial Institute of the Piedmont Region, Finpiemonte. Additionally, In-Q-Tel (IQT) and Inovo also contributed to the round. Wobble Genomics, a spin-out from the University of Edinburgh, disclosed securing £8.5 million to advance the commercialization of its technology. Mercia Ventures and BGF co-led the funding round, with support from IQ Capital, EOS Advisors, and Old College Capital, the university's venture fund. UK fintech Nuke From Orbit has successfully raised £500,000 in a Pre-Seed funding round aimed at launching its innovative product to market. The startup has devised a unique approach to enhancing mobile phone security, specifically focusing on safeguarding financial accounts and personal identifiable information (PII). The funding originates from various UK-based companies and investors, including Oliver Bridgen, Co-Founder & COO of specialist FX broker Ballinger Group, and Jordan Hallows, founder of Wey Bridging Finance. Berlin-headquartered insurtech startup INSRD has revealed its successful raise of a €500K Pre-Seed round. Participating in Cohort 5 of Earlybird Venture Capital's Vision Lab Program, INSRD benefits from funding, mentorship, and networking opportunities. The startup is focused on revolutionizing commercial insurance to cater to rapidly Cogna, a provider of hyper-customized software driven by individual preferences and delivered through artificial intelligence, has secured £3.76 million in funding to transform the approach to solving unique and complex challenges within traditional industries. Leading the funding round is Hoxton Ventures, with additional investment from Notion Capital and Octopus First Cheque Fund. Notable angel investors, including Stan Boland (Founder of Icera), Hermann Hauser (of Amadeus Capital Partners), Professor Neil Lawrence (DeepMind Professor of Machine Learning at Cambridge), Zayd Enam and Tim Shi (Founders of Cresta), Ping Wu (CEO of Cresta), as well as Aviv Nevo and Nick Elliot (Helsing), also participated in the round. Paris-based Ask for the moon, previously known as Wingzy, a knowledge management software, has disclosed securing €2.5M in a new funding round. Matterwave Ventures and UI Investissement, recognized as prominent players in the industrial Deeptech sector, participated in the round. Legitify, an online notarization solution, has confirmed the completion of a successful €1.5 million Seed funding round. The round was spearheaded by Verb Ventures, with additional investments from Enterprise Ireland, Actium Partners, Redbay Ventures, and other notable investors. Phelas, a Munich-based leader in the energy storage sector, has disclosed securing €4.1 million in a seed round of funding. E44 Ventures, an Israeli climate tech fund, leads the funding round, with involvement from Axon Partners Group, Deutsche Telekom hubraum Fund, BNV Partners, along with other investors and existing angel investors. Suiso, a UK-based company dedicated to generating affordable, low-carbon, or zero-carbon energy, has secured £3 million in funding. The investment originates from NPIF – Mercia Equity Finance, managed by Mercia Ventures. This funding source is associated with the Northern Powerhouse Investment Fund and Mercia’s EIS funds. SUBLIME Energie, a deeptech startup, has revealed securing €11.5 million in funding. This recent round of financing, led by the Environment and Solidarity Revolution Fund managed by Credit Mutuel Impact and PSL, will bolster the development, production, and deployment of a demonstration plant. Eye Security, headquartered in The Hague, specializes in safeguarding small and medium-sized European enterprises from cyber threats. The startup has disclosed securing €36 million in a Series B funding round, with J.P. Morgan Growth Equity Partners leading the investment. Additionally, existing investors such as Bessemer Venture Partners and TIN Capital participated in the round. Steadybit, a prominent player in chaos engineering, has confirmed raising $6 million in Series A funding. Paladin Capital Group led the investment round. Steadybit is dedicated to enhancing software reliability through chaos engineering, a practice aimed at ensuring systems remain robust and resilient in unpredictable online environments. Stockholm-based micro-mobility startup Voi, known for offering electric scooters for last-mile transportation, has announced the successful raise of $25 million in an oversubscribed funding round. Existing investors, including VNV Global, Raine Group, Nineyards Equity, Balderton, Creandum, Project A, Stena, Black Ice Capital, as well as founders and employees, participated in the latest funding round. London-based logistics startup Packfleet has disclosed securing $10 million in a Series A round of funding. The round was co-led by General Catalyst and Voyager. Additionally, existing investors such as Creandum, Entree Capital, and Founder Collective participated in the round. Belgium-based Simera Sense, a provider of end-to-end optical solutions for the small satellite Earth observation industry, has secured €13.5 million in its first significant growth investment round. The funding spearheaded by NewSpace Capital and Knife Capital. With this investment, the company intends to enhance its product range, expand production capacity, and accelerate on-board processing capabilities, thereby bringing transformative changes to the market. Helsinki-based medical device company Sooma Medical has announced securing €5 million in growth funding led by Voima Ventures, a Nordic early-stage investor. Other participants in the round include Verge HealthTech Fund and existing investor Stephen Industries. Sooma specializes in offering Transcranial Direct Current Stimulation (tDCS) through its portable neuromodulation device. tDCS utilizes a gentle electrical current to stimulate the brain and alleviate symptoms of depression without the necessity of pharmaceuticals. By targeting the brain, Sooma's technology provides symptom relief without the typical side effects associated with antidepressant medications. Lyon-based healthtech startup HawkCell has revealed securing €5 million in a Series A round of funding led by German venture capital firm MIG Capital. Additionally, French investment bank Bpifrance participated in the funding round. HawkCell specializes in transforming human MRI into the first animal-dedicated imaging using AI algorithms. Their plug-and-play technology is tailored for veterinary applications, contributing to the advancement of animal healthcare and preclinical research. Amsterdam-based Ellogon, a company focused on personalizing immunotherapy through data and algorithms, has announced securing €1 million in fresh funding. The funding comes from ROM InWest and UvA Ventures Holding. Berlin-based Quantistry, a provider of cloud-native chemical simulation platforms, has disclosed securing €3 million in a fresh funding round. The round was led by Ananda Impact Ventures. Other investors participating in the round include Chemovator, the business incubator of BASF, IBB Ventures, and a Family Office. Tomorrow Things, an AI startup, has successfully secured €1.5 million in funding to advance the development of its AI-powered Operating System for machines on the internet. Tomorrow Things operates as an intelligent automation platform, generating digital twins of technical assets. High-Tech Gründerfonds (HTGF) and neoteq ventures spearheaded the funding round, with additional support from Notion Capital, solo GP Robin Capital, and a group of specialized business angels including Christian Noske, Maximilian Eichler, Thomas Lang, Thomas Hollwedel, and Markus Doetsch, focusing on fundraising, marketing, and B2B SaaS. Bristol-based battery technology company Anaphite has successfully raised £1.6 million in funding. This funding comprises £685,000 in grant funding from the Investor Partnerships Future Economy programme, along with over £880,000 committed by private investors. The investors include Elbow Beach Capital, Wealth Club, Bristol Private Equity Club, and several angel investors. Anaphite's approach to battery manufacturing involves unique chemistry, aiming to produce more sustainable, faster-charging, and lower-cost batteries to drive the transition towards electric vehicles (EVs). Smartschool, an edtech company originally founded in Poland and now headquartered in San Francisco, has revealed raising $1.5 million in a Pre-Seed funding round. The funding was provided by Inovo VC, The Explorer Fund, and angel investors such as Andreas Michaelides, Chief of Psychology at Noom, and Konrad Howard, co-founder of Booksy. BotGuard OÜ, a cybersecurity software company founded in Estonia, has successfully raised a €12 million Series A funding round. The company specializes in assisting web hosting providers in managing traffic and safeguarding their infrastructure from malicious threats. The funding round is led by MMC Ventures, with participation from existing investors Tera Ventures and Expeditions Fund. Additionally, prominent angel investors such as Stefan Lindeberg have also contributed to the round. Berlin-based Polar Signals, a provider of continuous profiling products, has announced securing an additional $6.8 million in funding. This funding round was led by Spark Capital. Additional investors include GV, Lightspeed, Haystack, Lorimer, and a group of esteemed angel investors, including Guillermo Rauch, Julius Volz, Monica Sarbu, Jimmy Zelinskie, Nikhil Benesch, and Erik Bernhardsson. Stockholm-based Younium, a provider of B2B subscription management and billing software, has announced securing an additional SEK 31 million in funding. The funding round was led by existing investors and joined by Partinc Capital, which currently holds the largest ownership stake in Younium alongside the founders. Autonomo, a checkout-free software company, has announced the successful closure of a £2 million Seed funding round. The startup specializes in building checkout-free software, allowing retailers to transform their existing stores into cashierless shopping experiences. The funding round is led by Potter Ventures, with participation from Liverpool-based UK investors River Capital through their award-winning EIS growth fund 'fund:AI'. Vienna-based climate tech startup Necture, known for its platform for managing car fleets and charging infrastructure to accelerate the adoption of electric fleets, has announced securing additional funding. This brings its Series A round to €7 million. The latest round was led by Switzerland’s Smart Energy Innovationsfonds and Austrian VC Verbund X Ventures, with participation from existing investors Speedinvest and smartworks innovation GmbH. Munich-based data product management pioneer, Mindfuel, has announced the closure of a €3.75 million seed investment round. The investment was led by Project A Ventures, with participation from several angels. With successful ventures in their home markets, Mindfuel plans to utilize the funding to expand its platform into new markets across Europe. German fintech Naro has recently concluded a $3 million pre-seed funding round. The round was led by European investors La Famiglia, in partnership with General Catalyst and Discovery Ventures. Additionally, founders of European unicorns Flix and Forto, as well as other VCs such as Angel Invest and Robin Capital, participated in the round. Operators with leadership experience at fintech companies like Liqid, N26, Plaid, and Trade Republic also contributed. This funding marks Naro's emergence from stealth mode. Amsterdam-based journey management platform TheyDo has announced the completion of an additional $34 million in a fresh funding round, led by Blossom Capital. Other existing investors, including Arches Capital, Innovation Quarter, global customer experience evangelist Steven van Belleghem, Highsage Ventures, and 20Sales, also participated in the round. Dubendorf, Switzerland-based dental startup Odne announced that it has secured $5 million in a Series A1 round of funding led by Revere Partners and NV Capital. Additionally, several other renowned funds, such as Dental Innovation Alliance (DIA), Plug&Play, Hatcher, Zürcher Kantonalbank, as well as various family offices and angel investors, participated in the round. London-based medtech company ThinkSono, specializing in ultrasound AI guidance solutions, has successfully concluded its latest funding round, surpassing its target to secure £2.1 million. The latest investment was led by id4 ventures and saw contributions from Brandenburg Kapital, Calm Storm Ventures, Dubai Angel Investors, CrowdCube, Cur8 Capital, alongside several angel investors and vascular surgery clinicians. SURI, a prominent UK personal care brand specializing in sustainable oral care products, has announced the successful completion of its Series A funding round, securing £6 million in investment. The funding round was co-led by prominent investors JamJar investments, V3 Ventures, dmg ventures, and Hambro Perks. French white-label cloud gaming company Gamestream has announced today that it has raised €4.5 million in funding. Audacia and Bpifrance, through its Tech and Touch fund, have joined the company's previous investors in this round of funding. Germany-based acto, a provider of active decision intelligence for B2B sales teams, has successfully raised €3.7 million in a seed round of funding. The investment was led by 468 Capital and Cusp Capital, with continued support from adesso ventures. Additionally, another.vc and business angels such as Benedikt Franke (Planetly) and Niklas Hellemann (SoSafe) participated in the round. GScan, a deep tech firm, has secured a €3 million seed round from investors including Markus Villig, the founder of Bolt, as well as Japanese corporate venture funds and existing angel investors. Paris-based Kolet, a sustainable eSIM provider, has announced the closure of a €5 million seed funding round with European investment funds daphni and 9900 Capital. Paris-based Lago, an open-source metering and usage-based billing platform, has successfully raised $22 million in a fresh round of funding led by FirstMark. Other notable participants in this funding round include Y Combinator, Lee Fixel’s Addition, New Wave, and Script, along with industry veterans Meghan Gill, Romain Huet, and Clément Delangue. Vawlt, a startup specializing in long-term data storage, has recently concluded a funding round, raising €2.15 million. The round was led by Lince Capital and included participation from Basinghall and Beta Capital, along with existing investors Armilar Venture Partners and Shilling VC. Additionally, two former executives from Cisco and OVHcloud also contributed to the funding round. ---Join the Global Co-Investor Network for GPs, LPs and Startups - Get access to www.newnex.io.

19 Mar

Startups

Indian Startups Funded Recently

12 March 2024We are delighted to bring the Newnex Fortnight India fundraising tracker for the thriving Indian venture capital ecosystem, produced in partnership with the Startup Europe India Network. In the past two weeks, Newnex Co-Investor Network has counted a total of over $340+ million in fundraising and deal-making activities in India.Mokobara, the direct-to-consumer (D2C) luggage brand, has secured $12 million in its Series B funding round. Peak XV Partners, formerly known as Sequoia Capital India, led the funding, with participation from existing investors Sauce VC and Saama Capital. Shadowfax, a leading logistics service provider catering to hyper-local and on-demand delivery businesses in India, has successfully raised $100 million in a recent funding round. TPG NewQuest took the lead in Shadowfax's Series E financing round, incorporating some secondary transactions. Notable existing supporters such as Flipkart, Mirae Asset Venture Investments, IFC, Nokia Growth Partners, Qualcomm, Eight Roads Ventures, and Trifecta Capital also joined in the latest funding initiative. Mswipe Technologies has concluded a $20 million growth equity round, with Alpha Wave Global leading the investment and the involvement of existing investors. Having recently obtained a payment aggregator (PA) license from the Reserve Bank of India (RBI), the digital payments company has amassed over $125 million in funding from prominent investors like Matrix Partners, B Capital, DSG Consumer Partners, Epiq Capital, UC-RNT, and Ola. The newly secured funds will play a crucial role in Mswipe's plans to enhance its merchant payment network, as well as bolster product development and technological infrastructure. Digantara, a startup in the space technology sector, has secured $1.88 million in additional funding as part of an extended Series A round. The funding was led by Naman Finance And Investment Private Limited (NFAI), with participation from SIDBI Venture Capital. IntrCity, the mobility platform that operates SmartBus and RailYatri, has secured an additional around $4.5 million in its Series C funding round. Mirabilis Investment Trust led this investment round, and it included contributions from existing investors such as Nandan Nilekani's family trust, Omidyar Network India, and Ujamaa Ventures based in the United States. The funds raised will be utilized by IntrCity to improve its product offerings, expand user acquisition efforts, and further develop services along its hub routes to cater to its expanding travellers base. Zvolv, a prominent global hyper-automation company operating in India, the US, MEA, Australia, and New Zealand, has successfully raised ₹16 crore in funding. The funding round was led by Silverneedle Ventures, with participation from existing investors including JSW Ventures and others. Zvolv intends to utilize the newly acquired funds to expand and reinforce its extensive LCNC (Low Code No Code) Hyper-automation capabilities. The focus will involve integrating a trust-based generative AI layer into the next generation of enterprise AI applications. CredAble, a fintech startup, has secured $10 million in a recent funding round from Equentia Natural Resources, based in Singapore. Educational Initiatives (Ei), an education software company, has successfully raised approximately $20 million in a secondary funding round from the HCL Group. Additionally, as part of the transaction, the IT company will acquire a minority stake in the Bengaluru-based Educational Initiatives from the private equity firm Gaja Capital. Exly, formerly known as MyScoot and a provider of business tools, has secured $6.2 million in a new funding round led by Chiratae Ventures. The round also saw participation from existing investors Mayfield India and Venture Highway. Exly's suite of offerings encompasses course builders, appointment schedulers, a marketing suite, as well as customer relationship management (CRM) and lead capturing conversion tools tailored for creators and solo-entrepreneurs. Cardiotrack, a company specializing in data-centric healthcare screening technology and services delivered through health and life insurance providers, has successfully raised $2 million in a pre-series-A funding round. The funding was led by Girish Narasimhan and co-investor Y S Shashidhar. Notably, Cardiotrack had previously secured an angel investment of $1.6 million from a group of Ultra High Net Worth Individuals (UHNIs). AI startup Dubpro.ai has secured $500,000 in its seed funding round, with Venture Catalysts leading the investment. Other participants in the round include Anicut Capital, 9Unicorns, JJFO, and FirstCheque. Zactor Tech, a brand specializing in financial wellness and literacy, has successfully raised an undisclosed amount in its pre-seed funding round. The funding, co-led by High-Net-Worth Individuals (HNIs), places the company's valuation at $3 million. The raised funds are earmarked for product development, user acquisition, and initiatives related to financial literacy. Proptech firm Bandhoo has secured $0.9 million in a pre-Series A funding round led by Venture Catalysts. The funding round also saw participation from Neeraj Aggarwal, Manish Gupta, S Srinivasan, Amit Khera, and Abhishek Kumar. Notably, Bandhoo had previously raised $1.5 million in its seed round in June 2021, with contributions from Unitus, InfoEdge Ventures, and Bharat Innovation Fund.Generative AI startup Ema has successfully raised $25 million in its inaugural funding round. The round was led by Accel, Section 32, and Prosus Ventures. Additional participants include Wipro Ventures, Venture Highway, AME Cloud Ventures, Frontier Ventures, Maum Group, and Firebolt Ventures. Noteworthy high-profile angels who joined the round comprise Meta COO Sheryl Sandberg, Yahoo co-founder Jerry Yang, and Snowflake chief executive Sridhar Ramaswamy. Identity verification startup IDfy has secured $27 million in a combination of primary and secondary fundraising. Elev8, KB Investment, and Tenacity Ventures are among the contributors to this funding round. Louisa AI, an AI-powered platform, has raised $5 million in seed funding to further develop its technology focused on systematizing "serendipity" in professional settings. Born from a concept at Goldman Sachs in 2018, Louisa AI utilizes network effects to facilitate business connections for sales and deal-making. The seed funding round garnered support from various investors, including Oxford University’s investment arms, early-stage venture capitalists such as Palm Drive VC, Evolution VC, Nucleus VC, Gaingels, and former Goldman Sachs partners, colleagues, clients, friends, and family offices. Social media startup Hunch has successfully raised $23 million in a Series A funding round. The round was led by Alpha Wave and Hashed Emergent, based in South Korea. Edtech start-up MyCaptain has secured ₹14 crore in funding from investors including Inflection Point Ventures, MyNavi, Piper Serica, Super Capital, and Ankur Capital. The company aims to expand its hybrid programs into various cities, establishing over four regional sales centres. Additionally, MyCaptain is planning to introduce new programs with a target of reaching a portfolio milestone of approximately 50 beginner courses and five placement readiness programs. Contract manufacturing startup Zetwerk has secured $20 million in fresh investments from venture debt and private equity firm Wheelhouse Venture Capital. Notably, Rakesh Gangwal, the co-founder of Indigo Airlines, made the investment through the venture firm, Zetwerk. The Ayurveda Experience (TAE), a direct-to-consumer company specializing in Ayurvedic beauty and health products, has raised $27 million in a funding round led by Singapore-based venture investment firm Jungle Ventures. The round also witnessed the participation of investors such as SIDBI Ventures, Anicut Capital, and Sharrp Ventures (a part of the Mariwala Family Office associated with consumer goods major Marico). In this funding, approximately $15 million was allocated as primary funding for the company, while the remaining funds were directed towards secondary share sales by existing shareholders. Direct-to-consumer (D2C) skincare firm Foxtale Consumer has secured approximately $14 million in fresh equity funding. The funding round was led by Singapore-based Panthera Growth Partners, with participation from the company's existing investors, Matrix Partners India, and Kae Capital. PlanetSpark, an edtech platform based in Gurugram, has secured $17 million in an extended Series B funding round led by Prime Venture Partners through Seabright. Other participants in the round include InnoVen Capital, Alteria Capital, myPat, GGT3 Ventures, Ashish Gupta, and IAN Investors. The company's co-founders, Maneesh Dhooper and Kunal Malik, also made investments. abCoffee, a speciality coffee company with tech-enabled grab-and-go services, has successfully raised $3.4 million in its Series A funding round. Nexus Venture Partners led the investment, with additional participation from Tanglin Venture Partners, the company's existing investor. This funding follows a $2 million seed funding round secured in September of the previous year, with contributions from Tanglin, 100X VC, Panthera Peak, OTP Venture Partners, and various angel investors. Bummer, a direct-to-consumer apparel company, has secured Rs 9.25 crore in a funding round, with leading participation from Gruhas' Collective Consumer Fund, backed by Nikhil Kamath. Fluid Ventures, a D2C-focused venture firm and an existing investor in Bummer, also took part in this funding round. The investment, made through fresh shares, will be entirely allocated to the company's growth and development. --- Join Newnex - the global LP, VC and startup co-investor Network and Platform. Bring together co-investors at scale. The future is digital: go beyond your immediate network and get your investments and fundraisings closed rapidly.  Join Startup Europe India Network: Are you a startup, investor, corporate, expert active in Europe and India Tech or Climate? Join Startup Europe India Network to connect, engage and collaborate with the fast-growing Indian ecosystem www.startupeuropeindia.net

12 Mar

Venture Capital

European Startups funded recently - Newnex Fortnight

5 March 2024Newnex tracked $806+ million in funding rounds over the past two weeks in European Venture Capital.Monite, a fintech firm based in Berlin, is making waves in the finance automation sector with its API-first approach. Specializing in delivering smooth finance automation solutions for B2B platforms, Monite recently concluded a $6 million top-up funding round led by Valar Ventures, the venture capital fund supported by Peter Thiel, along with participation from existing investor Third Prime. Walk15, a sustainable mobility startup headquartered in Vilnius, has revealed the successful acquisition of €1 million in a recent funding round. Coinvest Capital, a venture capital fund, took the lead in the investment, with support from the "8NGLS" syndicate, consisting of 32 angels led by Justinas Pašys, CEO of "PVcase. WIVI Vision, a health tech startup based in Madrid, has disclosed a successful Series A funding round, securing €4 million through a combination of equity and debt. Adara Ventures led the investment, and other contributors include Hearstlab, Avançsa, Caixabank DayOne, BBVA Spark, Banco Santander, along with existing partners like Peak Thomas (Pedro Tortosa) and VC Go GMBH.GlycanAge, a longevity startup based in the UK, has successfully raised $4.2 million in a seed funding round to expand its business, allowing users to determine their biological age. The funding round was spearheaded by Bulgarian LAUNCHub Ventures, in collaboration with Kadmos Capital, a UK-based deeptech fund. EVIOS, a prominent provider of at-home EV charging solutions, has successfully raised £4 million in a Series A funding round from Beringea. EVIOS, launched in 2022, has quickly become a major player in the expanding home EV charging market. In October 2022, the company acquired Andersen EV, the leading premium home charge point provider in the UK. The collaboration between Andersen EV and EVIOS aims to capitalize on the significant growth in the UK's electric vehicle market and the subsequent surge in demand for home charging solutions. London-based startup Climate Policy Radar, utilizing data science and artificial intelligence to monitor global climate change policies and laws, has officially announced the successful raising of over $6.8 million in new funding. This funding includes grants from philanthropists and foundations such as the Environmental Defence Fund (EDF), Google.org, Open Society Foundations (OSF), The Patrick J. McGovern Foundation, Sequoia Climate Foundation, Schmidt Futures (founded by Eric and Wendy Schmidt), along with ongoing support from existing backer Quadrature Climate Foundation (QCF).Bioptimus, a Paris-based AI-powered bioscience startup, has officially come out of stealth mode after securing $35 million in a seed funding round. The funding is led by Sofinnova Partners, with significant participation from Bpifrance Large Venture and additional support from global funds in France, including Cathay Innovation. The round also features contributions from top global tech investors such as Headline, Hummingbird, NJF Capital, Owkin, and Top Harvest Capital, along with the notable participation of tech entrepreneur Xavier Niel. EST-Floattech, a Netherlands-based developer of maritime battery systems, has revealed a successful fundraising of €4 million in a recent financing round. The funding comes from the Energy Transition Fund Rotterdam, contributing €3 million and marking the fund's first venture into maritime battery systems. Existing investors, including Rotterdam Port Fund, PDENH, Ponooc, and Yard Energy, have also participated by offering an additional €1 million. This financial support is aimed at advancing the development of sustainable solutions for various maritime applications, including inland vessels, ferries, yachts, and more. Juniper, a UK-based startup specializing in reproductive healthcare insurance as an employee benefit, has successfully raised £1.5 million in a pre-seed funding round. Insurtech Gateway, along with 2100 Ventures, Exceptional Ventures, and Heartfelt, are among the backers of the recently unveiled startup. Angel investors involved in the funding round include Tara Reeves from Eurazeo, Vera Baker from Atomico, Charles Delingpole, founder of ComplyAdvantage, Matt Cooper, co-founder of Exceptional Ventures, and several other undisclosed individuals. IsomAb, a University of Nottingham spin-out focused on developing a novel treatment for individuals with diabetes at risk of amputation, has successfully raised £7.5 million in funding. The funding round is led by Broadview Ventures and supported by MEIF Proof of Concept & EarlyStage Fund, managed by Mercia Ventures and part of the Midlands Engine Investment Fund (MEIF). Additionally, Mercia's EIS funds and existing investor SCVC have contributed to the funding round. Connected, a Portuguese startup dedicated to realizing universal, standardized, and affordable Narrowband Internet of Things (NB-IoT) connectivity from space, has successfully secured a €2 million funding round. Notably, this is the largest Pre-Seed funding ever raised by a space technology startup based in Portugal. The funding round is co-led by FundBox, Shilling VC, and Iberis Capital, with substantial contributions from Amena Ventures, angel investor Keith Willey, and Octopus Ventures.Desentum, a biopharmaceutical company headquartered in Espoo, has disclosed a successful funding round of €12 million. The funds will be utilized to further the clinical development of their birch pollen allergy vaccine. The funding was spearheaded by Springvest Oyj. Fastned, the Amsterdam-based fast-charging company has reported a successful fundraising round, securing over €24 million through new bonds, and an additional €3.5 million from previous investments. This 14th funding round totalled over €27.5 million, featuring a 6% coupon and a 5-year maturity period. With this round, Fastned has now raised over €180 million from retail investors. Looping, an Oslo-based company specializing in reusable transport packaging, has successfully secured NOK 23 million in a recent funding round. The funding was led by Norselab, with participation from MP Pensjon, Marius Maske AS, and existing shareholders. Tiny Library, a Weesp-based rental platform for baby and children's equipment, has successfully secured €1.4 million in funding. The investment comes from impact investors ROM InWest, Rabobank, and Rabo Foundation, along with participation from existing investors like Stichting ifund and Shamrock Ventures. Amsterdam-based Sparqle, a sustainable delivery platform focused on enhancing the sustainability of last-mile delivery, has secured €1.2 million in a recent funding round. Monumo, a deep-tech company that integrates artificial intelligence (AI), has publicly revealed its presence, supported by a noteworthy £10.5 million seed funding round from angel investors. Monumo takes pride in pioneering developments in electric motor design, leveraging patented technology grounded in simulation, optimization, and prototype frameworks. Evergrowth, a Vilnius-based platform providing an AI-driven account-based sales solution, has successfully secured €2 million in a pre-seed funding round. The investment is led by Impellent Ventures and Practica Capital. Cyclize, a climate-tech startup based in Stuttgart, Germany, has announced the successful acquisition of €4.75 million in a recent funding round. The round was led by UVC Partners, and other participants include High-Tech Gründerfonds (HTGF), Aurum Impact, UnternehmerTUM Funding for Innovators, and prominent business angels such as Dr. Klaus Schäfer, former CTO of Covestro. Hakio, a Danish AI-powered demand forecasting platform based in Aarhus, has successfully raised €4 million in a seed round of funding. The investment, co-led by People Ventures and Dreamcraft Ventures, aims to accelerate the development of Hakio's platform. The technology utilizes machine learning to enhance forecasting in the fashion industry, with a focus on addressing global waste concerns. Existing investors Blazar Capital and Founderment also participated in the funding round. Kvasir Technologies, a sustainable biofuel development company based in Søborg, Denmark, has announced the successful closure of a €3 million Seed extension round of funding. The investment was contributed by The Footprint Firm, a sustainability advisory and impact investor, and the Export and Investment Fund of Denmark (EIFO), formerly known as Vækstfonden. Akela Hub, a Netherlands-based AI-driven platform designed for innovators seeking solutions to their challenges, has successfully secured €1 million in a recent funding round. The investment comes from Unknown Group and founder Giels Brouwer. The funds will be utilized to support the global expansion of Akela Hub's AI scouting platform. Baseimmune, a biotech company specializing in using proprietary deep learning AI to predict future pathogen mutations for developing novel vaccines, has successfully closed a Series A funding round of $11.3 million. The funding round was led by new investors MSD Global Health Innovation Fund and IQ Capital. Existing investors, including Hoxton Ventures, Creator Fund, Beast Ventures, and Maki.vc, also participated in the round.Scinvivo, a medtech startup based in Eindhoven, has announced securing €4.7 million in funding. The investment comes from Santec OIS Corporation, The NLC Health Impact fund, current shareholders, and an "Innovatiekrediet" (Innovation credit) loan from the Netherlands Enterprise Agency (RvO). The funds will be used to enhance the catheter, OCT system, and software, making them suitable for clinical use and appealing to urologists. Threedy, a Darmstadt-based company providing a unique infrastructure component to address the increasing demand for highly available 3D data in responsive and interactive 3D applications, has announced a €9.6 million Series A investment. The funding round is backed by new investors LBBW Venture Capital, TRUMPF VENTURE, Futury Capital, and EquityPitcher Ventures. Existing investors Matterwave Ventures, Fraunhofer, and High-Tech Gründerfonds (HTGF) have also renewed their commitment by participating in the Series A investment. Januar, a Copenhagen-based payment gateway for crypto companies, has secured €1.5 million in a Seed Extension round. The funding comes from investors including CMT Digital, Third Prime, Skyfall Ventures, and Michael Grønager, Co-founder & CEO of Chainalysis. This round also saw follow-on investments from existing investors. Altilium, a UK-based cleantech group dedicated to supporting the energy transition to net zero, has announced securing an additional $9.43 million in its Series A follow-on round. The funding comes from SQM Lithium Ventures, bringing the total investment in the round to $12 million. Device Authority, a prominent provider of identity and access management (IAM) solutions for Enterprise IoT ecosystems, has secured an additional $2 million in Series A funding from Prelude, the venture capital arm of Mercato Partners. Rototip, an Ankara-based manufacturing startup, has successfully secured €1 million in a financing round aimed at expanding its near-shoring manufacturing solutions for European and North American companies. The inaugural funding round was led by Amsterdam's ACT Venture Partners, with participation from Joerg Rheinboldt's Heartfelt and Istanbul-based APY Ventures. Embat, a Madrid-based fintech specializing in corporate treasury management, has successfully raised $16 million in a Series A funding round. The funding round is led by historic backers of Trade Republic, Klarna, iZettle, and Pleo, Creandum. Existing investors Samaipata, 4Founders, and Venture Friends also participated. Noteworthy angel investors in this funding round include Deutsche Bank head Kilian Thalhammer and former Commerzbank CEO Martin Blessing. RobCo, a Munich-based provider of affordable and connected robotics automation solutions tailored for small and medium-sized enterprises (SMEs), has successfully secured $42.5 million in a Series B funding round. The investment was led by global venture capital firm Lightspeed Venture Partners, with participation from existing investor Sequoia Capital. Kindred Capital and Promus Ventures also took part in this funding round. Sorella, a Paris-based female health startup, has announced the closure of a €5 million funding round just one year after launching its first multidisciplinary health clinic. The investment was led by blisce/, an impact investment firm based in Paris and New York. Vorwerk Ventures also participated in the funding round. LIZY, a Brussels-based company specializing in car rentals for SMEs and professionals, has successfully secured €11.5 million in a recent funding round. The investment comes from D’Ieteren, Alychlo, NewAlpha Asset Management, and Welvaartsfonds. The funds will be utilized to accelerate LIZY's growth and expand its workforce. Pimberly, a Manchester-based Software as a Service (SaaS) company specializing in providing Product Information Management (PIM) and Digital Asset Management (DAM) software, has raised £4 million in funding. The investment comes from NPIF – Mercia Equity Finance, a fund managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF), along with funds from Mercia. Pimberly's software aims to help businesses enhance e-commerce sales, grow revenues, and deliver exceptional customer experiences through high-quality product information and digital assets. Lapse, a London-based social media app, has secured a $30 million Series A funding round led by DST Global Partners and Greylock, a US-based venture capital firm. Existing investors Google Ventures and Octopus Ventures also participated in the funding round. Notably, three angels, including Naveen Gavini (former Chief Product Officer at Pinterest) and Nima Khajehnouri (former VP of Engineering at Snap Inc), also contributed to the investment. Unseenlabs, a French spacetech company, has successfully raised €85 million in a Series C funding round. The funding, which comprises a mix of equity and debt, will enable the company to launch more satellites and expand its presence in North America and Asia. The Series C round was led by French investors Supernova Invest, ISALT, and UNEXO, and saw participation from Unseenlabs' existing investors, including French VCs 360 Capital, OMNES, Breizh Up, and S2G Ventures, as well as public bank Bpifrance. Mistral AI, a Paris-based AI startup focused on foundational models, recently unveiled a large language model intended to compete with OpenAI's GPT-4. Additionally, the company announced a chat assistant and a distribution partnership with Microsoft. While the news was somewhat understated, Microsoft has invested €15 million in Mistral AI as part of the partnership. Microsoft states that this investment will be converted into equity in Mistral's next funding round. Restimo, a Warsaw-based startup specializing in automating restaurant operations, has successfully secured €465,000 in a Seed round of funding. The funding comes from various business angels, including Bartosz Majewski, co-founder of Casbeg, and Bartłomiej Kiszala, co-founder of Base CRM. A consortium of investors from the Sterling Angels association, led by Krzysztof Polak, also participated in the funding round. Notably, clients of Restimo, such as David Cao, owner of the UKIM restaurant, also contributed to the investment. Paris-based startup Photoroom, which utilizes AI to make advanced photo editing accessible to a broader audience, has successfully closed a $43 million Series B funding round. The round was led by existing investor Balderton Capital, with the participation of new investor Aglaé and continued support from YCombinator. The funding will likely aid Photoroom in further developing its AI-powered photo editing capabilities and expanding its reach. Curve Therapeutics, a UK-based biotech startup, has secured £40.5 million in a Series A financing round led by Pfizer Ventures. The funding will be used to further develop Curve Therapeutics' cancer drug discovery platform. New investors British Patient Capital and Columbus Venture Partners participated in the round, along with existing backers Advent Life Sciences and Epidarex Capital.London-based Mondra, an AI-driven SaaS platform focusing on product footprinting and supply chain decarbonization, has secured £3.6 million in pre-Series A funding. The investment round was led by 7th Gen Ventures, with participation from AlbionVC, GC Foodtech Ventures, Foodsparks by Peakbridge, Ponderosa Ventures, and Vala Capital.Berlin-based startup Yendou, positioning itself as the "Salesforce for R&D teams in life sciences," has successfully raised $1.3 million in a pre-seed funding round. The investment will enable the company to expand its clinical operations automation platform to meet the increasing demand from pharmaceutical and biotech companies. Leading the pre-seed round is b2venture, with participation from Heartfelt, Infinita Fund, and various angel investors from the pharmaceutical industry, including Meri Beckwith, co-founder of the Peter Thiel-backed startup Lindus Health. The German 'no-code' tool provider, Heyflow, has successfully secured $16 million in a Series A funding round led by Singular. Other participants in the funding round include Atlantic Labs and Project A Ventures. Heyflow's platform integrates workflows, web pages, integrations, analytics, and optimization into a unified, comprehensive, no-code solution. This enables businesses such as Rocket Mortgage, Adecco, Crédit Agricole, and BCG Digital Ventures to concentrate on enhancing conversion rates. Hamburg-based startup atmio has come out of stealth mode, unveiling its operating system aimed at addressing climate change. The company has raised €1.3 million to date in a pre-seed/angel investor round, with backing from HCVC, OMA Business Angels, Rivus Capital, Robin Capital, and Nucleus Capital, along with industry experts including longtime Dräger executive Bernhard Mohr. Berlin-based ecoligo, a company positioning itself as a leader in the global clean energy transition, has declared a successful €11 million funding round. The round was oversubscribed and led by existing investors, with the addition of two new investors: The Energy Entrepreneurs Growth Fund, supporting companies in the energy access ecosystem in Sub-Saharan Africa, and Gaia Energy Impact Fund II, a French VC fund focusing on impact companies in markets along the energy value chain. Polestar, the premium electric vehicle company based in Gothenburg, has revealed the successful securing of a $950 million three-year loan facility. This funding comes from 12 prominent international banks, including BNP Paribas, Natixis, Standard Chartered, BBVA, HSBC, and SPDB.Paris-based cybersecurity startup Filigran is leveraging the success of OpenCTI to develop a suite of open-source threat management products. The company has gained early traction with OpenCTI, its open-source threat intelligence platform. To support its expansion, Filigran recently secured €15 million (approximately $16 million) in a funding round led by Accel, with participation from existing investors Moonfire Ventures and Motier Ventures. Chiral, a nanotechnology company, has disclosed a $3.8 million funding round aimed at advancing the integration of nanomaterials into devices. The company specializes in nanotechnology, automation, and high-precision robotics, which are crucial in transitioning the industry from silicon to the next generation of electronics. The pre-seed funding round was co-led by Founderful (formerly Wingman Ventures) and HCVC, with additional support from grants provided by ETH Zurich and Venture Kick. Sonichem, an East Midlands-based startup, has developed a biorefinery technology that provides an ultra-clean method to convert low-value woody biomass, such as sawdust, into high-value green and renewable biochemicals. The company has recently secured £1.2 million in pre-Series A funding, with a follow-on investment from ACF Investors, known for backing ventures like NumberEight and Reboxed. London-based virtual reality interactive training platform Moonhub has officially announced a $1.4 million venture round. The round is led by Danish VC Unconventional Ventures, with ongoing support from existing investors Pi Labs and Ada Ventures. Choice, a Prague-based B2B SaaS platform for restaurants, has successfully secured €2.3 million in a new investment round. J&T Ventures from Prague led the round, and existing investors Reflex Capital and Presto Ventures continued their support for the startup. This brings Choice's total amount raised to just under €5 million. Frankfurt-based Enviria has successfully raised over $200 million in a Series B funding round led by BlackRock, the world's largest asset manager. This substantial investment will facilitate Enviria's expansion plans for its existing portfolio of 500 commercial and industrial solar projects across Germany. Austrian aviation tech firm CycloTech, known for its groundbreaking flight propulsion technology, recently secured €20 million in funding, mere weeks after commencing the funding round. The investment, led by Breeze Invest and Konos Holdings, will facilitate the advancement of the initial full-scale prototype of the CycloRotor propulsion system.Stockholm-based Plexigrid, a company aiming to reinvent electric grids for the energy transition, has secured €6.5 million in a recent funding round from the European Innovation Council (EIC) Accelerator Programme. The funding includes a non-diluting €2.5 million technology development grant and €1 million in equity capital from Plexigrid itself. EIC contributed the remaining €4 million as equity capital, which will be combined with external funding in Plexigrid’s upcoming funding round. Heat Geek, a sustainable energy startup, has revealed a €4.3 million seed funding round. The funding aims to support the company's mission to decarbonize homes through the widespread implementation of heat pump technology. Transition led the round, with participation from Triple Point Ventures. Notable angel investors include Ed Broussard, Rob Harris, Jeff Twentyman, Akta Raja, Stewart Seigel, and 15 experienced individuals associated with Heat Geek. Vitrue Health, a digital musculoskeletal (MSK) health platform for workplaces, has secured an additional €3.7 million in funding, bringing their total raised capital to €6.5 million. MMC Ventures and Hambro Perks led the funding round, with participation from Simplyhealth Ventures, Crista Galli Ventures, and Chris Bruce. The funds will be used to enhance the platform's capabilities and improve the way employers address, prevent, and treat MSK conditions in the workplace. --- Join the Global Co-Investor Network for GPs, LPs and Startups - Get access to www.newnex.io.

05 Mar

Startups

Indian Startups Funded Recently

27 February 2024We are delighted to bring the Newnex Fortnight India fundraising tracker for the thriving Indian venture capital ecosystem, produced in partnership with the Startup Europe India Network. In the past two weeks, Newnex Co-Investor Network has counted a total of over $259+ million in fundraising and deal-making activities in India.Yu, the instant food brand curated by chefs, has successfully raised Rs 20 crore in a follow-on Series A funding round. The funding was spearheaded by prominent public market investor Ashish Kacholia and the Asian Paints Promoter Group, represented by Manish Choksi and Varun Vakil. Yu also boasts investments from include Indian cricketer Hardik Pandya, Sameer Mehta (Founder of Boat), Srikrishna Dwaram (Partner at True North Private Equity), Nikhil Srivastava (PAG Private Equity), and DPIIT's Start Up India Seed Fund. This infusion of capital will enable the company to expand its manufacturing capacity and venture into various product categories and segments. Amber, a leading provider of global student housing solutions, has secured $21 million in its first external funding round, with Gaja Capital leading the investment. Lighthouse Canton and Stride Ventures also joined the round as participants. The newly raised capital will be utilized to support the company's global expansion efforts and to further improve its services for both property managers and students. Corrit Electric, a startup in the electric vehicle sector, has secured Rs 5 crore in funding from Porush Jain. The newly acquired funds will be dedicated to expanding operations and advancing research and development initiatives. In a Series B funding round, Supertails, a full-stack pet care startup, has successfully raised $15 million. The funding was led by RPSG Capital Ventures, with participation from existing investors Fireside Ventures, Saama Capital, DSG Consumer Partners, and Sauce VC. The newly acquired capital will be utilized to facilitate business growth by acquiring new customers, investing in technology, and expanding healthcare services, including the enhancement of Supertails Pharmacy.Happi Planet, a direct-to-consumer (D2C) homecare startup, has secured approximately $1 million in a strategic funding round led by Fireside Ventures. The funding will play a crucial role in the expansion of the startup's offline footprint and bolstering its online presence. Happi Planet distributes its products through various online marketplaces, including Amazon, Big Basket, and D Mart Ready, and has a presence in Reliance Signature offline stores. Scrut Automation, a compliance automation platform with a focus on risk, has successfully raised $9 million in its Series A funding round from existing investors. Notable participation in the round includes Lightspeed Partners, MassMutual Ventures, and Endiya Partners. Scrut Automation simplifies numerous labor-intensive compliance tasks by integrating with cloud and SaaS tools. Tork Motors, a startup specializing in electric vehicle manufacturing, has secured $6 million in funding from Maxis Capital. Tork Motors is well-known for being an electric two-wheeler manufacturer, with its flagship product, Kratos R, gaining recognition in the market. Medtech startup Noccarc has successfully raised $2 million in a funding round led by the Indian Angel Network (IAN). The funding round also witnessed the participation of Sunil Munjal, Chairman of Hero Enterprises, IIT Kanpur, Small Industries Development Bank of India (SIDBI), and the Technology Development Board (TDB). The raised capital will play a crucial role in accelerating Noccarc's growth by expanding its product portfolio. Veera, the internet browser with a rewards focus, has garnered attention by securing $6 million in a seed funding round led by Ayon Capital, a Florida-based single-family office. The funding round also witnessed the participation of various investors, including institutions and angels such as Folius Ventures, 6th Man Ventures, The Operating Group, and iSeed Ventures. This funding will play a crucial role in Veera's growth, supporting the expansion of its product development, infrastructure enhancement, and marketing initiatives. Mobility fintech firm Moove has successfully raised $10 million in a debt round from Stride Ventures. This marks Moove's first external debt funding in India. Moove aims to grow its fleet, increasing the total number of vehicles to surpass 5,000 as part of its strategic expansion initiatives. Scandalous Foods, a B2B sweets startup, has successfully concluded its pre-seed funding round, raising Rs 3 crore. The most recent injection of Rs 1.4 crore came from the Indian Angel Network (IAN), led by KRS Jamwal and Mrunal Jhaveri, along with notable angel investors including Arjun Vaidya of V3 Ventures, Ajay Mariwala (MD of VKL and FSIPL), and Sushma Gupta. The company aims to broaden its presence in the food service industry and establish a robust HoReCa (Hotel, Restaurant, and Cafe) base in key markets, including Mumbai and Nasik. Illumine Industries Private Limited (Illumine-i), a sustainable design and engineering firm, has secured approximately $2 million in its Series A funding round from Anicut Capital. Buoyed by the funding, Illumine-i is set to enhance its emphasis on automation, digitization, and elevating asset caliber. The company specializes in structural and electrical engineering for power plants and energy storage, while also extending its expertise in digital modeling and project management to the broader architecture, engineering, and construction (AEC) sector. Explurger, a domestically developed social media platform tailored for travelers, has attracted notice by securing $4.5 million in a Series A funding round led by Affle (India) Limited. Alongside its photo and video-sharing functionalities, the platform also records the exact miles, cities, countries, and continents visited by users. Noteworthy angel investors, including Piyush Jain and Lovkesh Arora, among others, have also participated in the startup's funding. Captain Fresh, a tech startup specializing in fish and seafood, has successfully raised $25 million as part of its ongoing series C funding round. The extension of the series C round has attracted investment from Nekkanti Seafoods Group, British International Investment (BII) – a UK-based development finance institution and impact investor, along with contributions from several family offices. The funds raised will be utilized to strengthen Captain Fresh's distribution network in the United States and Europe. Vidyut, an electric vehicle (EV) financing and vehicle lifecycle management platform, secures $10 million in Series A funding, led by 3one4 Capital, and featuring participation from Saison Capital, Zephyr Peacock, Force Ventures, Alteria Capital, and Sujeet Kumar, the CEO of Udaan. The funding, comprising both equity and debt financing, will support the platform's expansion and enhance its offerings in the EV financing and vehicle lifecycle management sector. FlexiLoans, a fintech lender specializing in MSMEs, secures Rs 60 crore in non-convertible debt from Vivriti Asset Management. The initial tranche of Rs 30 crore comes from Vivitri Emerging Corporate Bond Fund, part of Vivriti Asset Management, to sustain and bolster ongoing business operations. In its Series A funding round, Metalbook, a platform facilitating the global metals supply chain, has successfully raised $15 million. The funding was led by Rigel Capital, and saw participation from FJ Labs, along with continued support from existing investors such as Axilor Ventures, Foundamental, Stride Ventures, Trifecta Capital, and others. Metalbook is now well-positioned to enhance its influence on large-scale global projects by advancing solutions in manufacturing, infrastructure supply chains, metal sourcing, logistics, and financing. Ayekart, the agrifood fintech platform, has secured $6.5 million in its Series A funding round. This funding was led by Omnivore, with participation from Siana Capital and Unleash Capital. The capital raised will be deployed to facilitate the nationwide expansion of Ayekart's operations, enabling it to serve a broader audience, including Farmer Producer Organizations (FPOs), food manufacturers, distributors, and retailers. IDC Kitchen, the quick-service restaurant chain, has obtained Rs 1.5 crore in a debt fund from Velocity, a financing platform backed by Peter Thiel’s Valar Ventures. The allocated funds will be directed towards marketing initiatives and other inventory-related expenses, supporting IDC Kitchen in expanding its outreach and upholding its dedication to providing an authentic South Indian culinary experience. Arcatron Mobility, a consumer medical startup, has secured undisclosed growth capital from OrbiMed, a global healthcare-focused investment firm. In addition to OrbiMed, existing backers such as BL Taparia Family Office, Chona Family Office, MGA Ventures, and the founders of Arcatron also participated in this funding round. The funds raised will be allocated towards intensifying research and development efforts, creating new products, and strengthening branding and marketing initiatives for the company. In a pre-seed funding round, Segwise, a startup specializing in constructing AI agents for global mobile product and growth teams, has raised $1.6 million. Powerhouse Ventures led the round, with participation from other investors including Antler India, Blume Ventures, Everywhere Ventures, Saka Ventures, and Untitled Ventures. Notable contributions also came from Kunal Shah (Cred) and product leaders associated with companies such as Microsoft, Amazon, SAP, Gojek, Flipkart, PhonePe, Groww, among others. Conscious Chemist, a skincare brand, has secured Rs 1 crore in debt capital from Recur Club. The company intends to deploy the funds towards bolstering its marketing initiatives to enhance brand visibility, expanding its product categories, and establishing a presence in offline retail outlets. Operating in the B2C space, the brand offers a range of skincare products in its catalog, including cleansers, moisturizers, sunscreens, face masks, serums, and more. In its pre-seed funding round, Mumbai-based fintech platform PocketATM has successfully raised $400K. The investment comes from a diverse group of investors including Indian Express Commercial Ventures, Samir Modi of Modicare, Himanshu Nautiyal from Fractal Analytics, Nirav Mehta of Morgan Stanley Private Equity, Hemant Adarkar of Artha Center, Venkatesh Hariharan (Public Policy Advisor), and Rajat Agarwal, Partner at Vertices Partners. RailYatri, the train ticketing platform, has secured $3.44 million in a funding round that combines equity and debt. Mirabilis Investment Trust led the round with an investment of Rs 12 crore. NRJN Family Trust, backed by Nandan Nilekani, and Omidyar Network contributed Rs 6.9 crore and Rs 5.69 crore, respectively. Additionally, Blacksoil participated in the round with a debt funding of Rs 4 crore. QuiD, a supply chain fintech startup based in Bengaluru, has secured ₹5 crore in pre-seed funding. The funding round was led by institutions including Mint Cap Enterprises and Stone Park Capital, with participation from individual angel investors such as Sushant Kumar of Omidyar Network. The funds raised will be deployed to improve and expand technological capabilities, as well as strengthen connections with existing clients and partner lenders. Kanlet, an AI-driven sales execution platform, has secured $400,000 in pre-seed funding, with Suvan Ventures and several angel investors leading the investment. The raised capital will be allocated towards product development, sales and marketing efforts, as well as talent acquisition for the company. Rentomojo, the furniture rental brand, has secured ₹210 crore in a Series D & D1 funding round, with Edelweiss Discovery Fund Series – I leading the investment. The round also saw participation from existing investors, including Chiratae Growth Fund and Magnetic. Notably, Rentomojo has renowned investors like Accel and Bain Capital in its list of backers. Varaha, a climate technology startup specializing in greenhouse gas emissions offsetting, secures $8.7 million in its latest funding round led by RTP Global, with participation from existing investors Omnivore and Orios Venture Partners. The round also includes involvement from the Japanese cooperative bank, Norinchukin Bank. Furthermore, AgFunder and Octave Wellbeing Economy Fund, an affiliate of IMC Pan Asia Alliance Group, have also invested in the company.Electric mobility startup Yulu has secured $19.25 million in equity funding from its existing investors, Magna and Bajaj Auto Ltd. This additional capital infusion will empower Yulu to sustain its growth trajectory, reinforce its market leadership, and facilitate expansion in terms of vehicles, operational locations, as well as advancements in product and technology innovation to meet the increasing demand from users. Food-tech platform Ghost Kitchens India has successfully raised $5 million in a Series A funding round, comprising a combination of equity and debt. The round was spearheaded by GVFL Limited, with contributions from NB Ventures, LetsVenture, and Lead Angels. Notable participation in this funding round also came from existing investors Yuj Ventures, Dholakia Ventures, and actor Rana Daggubati. Healthcare edtech startup Virohan has secured approximately $1.8 million in an extended pre-Series B funding round, with Blume Ventures leading the investment. This funding comes after a 14-month gap for the Gurugram-based company. Mitsui Sumitomo Insurance Venture Capital, managed by MS&AD Ventures, participated in the round, along with Suneight OK Partnership (Suneight), Bharat Inclusive Technologies, GoldenBird MultiProduct LLP, VVAG Partners, and individual investors including Pankaj Sharma, Sridhar Subramanian, Upasana Tilak Wadhwa, Viraj Nanda, Bhargav Suhas Jangle, and Vinita Bimbhet. Education-focused Non-Banking Financial Company (NBFC) Auxilo has secured around $6 million in non-convertible debt from AK Capital Finance. Since its inception, Auxilo has raised over $100 million through a combination of equity and debt. Walko Food's NIC, an ice cream brand and quick-service restaurant (QSR) company, has successfully raised $20 million in a new funding round. The funding was led by existing investor Jungle Ventures. This fresh injection of capital is intended to drive Walko's expansion across its product portfolio and customer reach, with a particular focus on accelerating its presence in the Indian ice cream market. Influencer marketplace Flytant has successfully raised an undisclosed amount in its seed round, with the primary investment coming from the innovative digital investment platform Shuru-Up, based in Ahmedabad. Flytant provides an opportunity for nano, micro, and macro influencers to easily monetize their social media content, offering a departure from the traditional reliance on agencies. Influencer marketing platform Starbuzz.ai has raised $500,000 in its seed funding round from an undisclosed investor. The startup is incubated by Hyderabad-based T-Hub. Starbuzz.ai offers tools that aid in detecting fake followers, and its comprehensive analytics empower brands to make data-driven decisions, ensuring maximum return on investment (ROI) and upholding brand integrity. KushoAI, a startup focused on developing AI agents to enhance software reliability, has successfully raised $600,000 in pre-seed funding. The funding round was led by Antler India, with participation from Blume Founders Fund, UpSparks Capital, and angel investors including Mohit Kumar and Vatsal Singhal (co-founders, Ultrahuman), and Ashok Hariharan (CEO, IDfy), among others. Indic Wisdom, an agri-produce startup, has secured Rs 4 crore in a pre-Series A funding round led by Inflection Point Ventures. The round also witnessed participation from Mahendra Sankhe, Launch Capital, Bifco Finance, and other High Net Worth Individuals (HNIs). The funds raised will be utilized to boost the brand's visibility, expand its distribution network, and enhance production capacity, aiming to increase market presence and operational efficiency. Elder care startup Samarth Life has secured approximately $1.45 million in a funding round, with Aroa Venture Partners leading the investment. Social Alpha and Zhooben Bhiwandiwala of Mahindra Partners also participated in the funding round. Samarth Life intends to utilize the funds to drive its growth and expansion initiatives in the elder care sector. Oopar Club, a community-driven social networking and socialization-tech platform, has raised Rs 50 lakh in its maiden pre-seed funding round. The funding was led by startup community-builder PedalStart, with participation from Ankitt Jain, co-founder of Paper Arizona. The funds will be utilized to upgrade its technology and flagship platform, acquire talent, and increase its user base. The investment will also support overall growth, product and tech enhancement, and team building. Animal management and nutrition brand eFeed has obtained Rs 1 crore from the revenue-based financing platform Klub. Previously, the Pune-based startup had raised $1 million in a seed round led by Omnivore in January 2023. The newly secured funds will be directed towards capacity building, increasing production from 50 tons to 500 tons, enabling the company to scale its products in multiple geographies. AutoVRse, a homegrown AR/VR tech startup, has successfully raised a $2 million seed round led by Lumikai, a gaming and interactive media-focused venture capital fund. Other notable investors in the funding round include Rajat Monga, co-founder of TensorFlow, and Inference.io, Yash Kotak, founder and CEO of Jumper.ai, Deepak Kumar, Chief Customer Officer at Observe.AI and early investor at Fractal, and Viswanathan Krishnamurthy, ex-CIO/VP at Yahoo & Eaton. The funds raised will be utilized to enhance the enterprise product "VRseBuilder," aiming to enable VR deployment at scale for the digital transformation of training, design, and sales workflows, particularly in heavy industry and manufacturing enterprises. Consumer houseware startup Basil has raised Rs 3.6 crore in a seed funding round co-led by IIMA Ventures and Appreciate Capital. The funding round also saw participation from angel investors, including Mohit Sadaani, Koo co-founder Aprameya Radhakrishna, Abhishek Goyal, Malini Adapureddy, and Magicpin co-founder Brij Bhushan. Basil, a direct-to-consumer startup, offers tailored products designed to appeal to Gen Alpha and their millennial parents. The startup's water bottles and Bento boxes address a significant market gap in the industry. Hyderabad-based electric two-wheeler Original Equipment Manufacturer (OEM) PURE EV has raised $8 million in funding. The investment was led by Bennett Coleman and Company Limited, Hindustan Times Media Ventures, along with Ushodaya Enterprises Private Limited, existing investors, and High Net Worth Individuals (HNIs). Health and wellness platform Cult.fit (formerly Cure.fit) has secured Rs 84.5 crore (approximately $10.2 million) in an extended Series F funding round. The round was led by existing backer Valecha Investments, contributing Rs 36.36 crore, followed by Gul Advani who invested Rs 28.26 crore. The remaining sum was joined by Extreme Brands LLP (Exceed Entertainment), L&K Wellness Services (Reset Life), and individuals including Surendra Kedia, Sangeeta Mansharmani, Shraddha Sheth, Nikhil Kakkar, and Prashant Machwe. --- Join Newnex - the global LP, VC and Startups Co-Investor Network and Platform. Bring together co-investors at scale. The future is digital: go beyond your immediate network and get your investments and fundraisings closed rapidly. Join Startup Europe India Network: Are you a startup, investor, corporate, expert active in Europe and India Tech or Climate? Join Startup Europe India Network to connect, engage and collaborate with the fast-growing Indian ecosystem www.startupeuropeindia.net

27 Feb

Venture Capital

European Startups funded recently - Newnex Fortnight

20 February 2024  Newnex tracked $859+ million in funding rounds over the past two weeks in European Venture Capital.London-based startup AudioStack is making waves with a £2.5 million pre-Series A funding round, led by Quadri Ventures. AudioStack specializes in proprietary technology that utilizes a suite of AI-powered media creation tools. These tools include script generation, text-to-speech, speech-to-speech, generative music, and dynamic versioning, positioning AudioStack at the forefront of innovative audio technology.BOX ID, a logistics software provider based in Munich, has successfully raised €3.5M in a recent funding round aimed at expanding its Internet of Things (IoT)-based supply chain visibility offerings. KPN Ventures led the investment, with participation from existing seed investors HTGF, Bayern Kapital, and Wille Finance, as well as contributions from business angels associated with the BayStartUP Network.Naboo, a French startup, has created an innovative platform enabling companies to effortlessly book entire seminars with a single click, offering a transparent and straightforward pricing structure, Securing €7.5 million in funding from investors such as ISAI, Kima Ventures, Better Angle, and longstanding partners CapHorn and Maif Avenir. Transforming the landscape of customer shopping interactions, the Polish startup ZeroQs is pioneering smart shopping carts as a viable alternative to self-service checkouts. Recently, the company secured €457k (PLN 2 million) in funding from the Polish venture capital fund Freya Capital in a follow-on investment. Netherlands-based Channable, a provider of e-commerce feed management and PPC automation solutions for digital marketers, brands, and online retailers, has revealed a successful Series B funding round, raising over €55M. Partech led the funding round, with participation from existing investor Peak. Deftpower, a Netherlands-based company situated in Arnhem and specializing in an AI-supported Software as a Service (SaaS) platform for electric vehicle (EV) charging, has successfully secured €2.5 million in funding from the EU EIC Accelerator, a prestigious program for promising energy startups. Additionally, 4impact Capital, along with existing investors such as Proeza Capital, Twickelborg, Cosmic Cat, Rethink Ventures, and Koolen Industries, also participated in this funding round. Orexa, a clinical-stage pharmaceutical company based in Herpen, the Netherlands, has disclosed securing €870K in funding from both new and existing investors. This announcement follows a funding round last year in which the company raised €485K. Estonia-based startup Starship Technologies, which specializes in autonomous last-mile delivery vehicles, has recently secured $90 million in funding from London-based VC firms Plural and Iconical. This substantial capital injection will be strategically utilized to expand Starship Technologies' global presence and facilitate the launch of its cutting-edge wireless charging technology. Oslo-based OTee, a developer of industrial automation software, has successfully raised €1.25 million in its latest funding round. The round was led by Norwegian venture capital fund RunwayFBU and Estonia's Superangel. Existing investor Antler participated in the round, along with new investor StartupLab and a group of angel investors including Gunnar Evensen, Trond Riiber Knudsen, Snorre Larsen, and Olav Slupphaug. Heura Foods, a Spanish foodtech startup specializing in plant-based meat, is making significant strides in the news. The Barcelona-based company has successfully closed a €40 million Series B funding round, marking one of the largest plant-based funding rounds this year. The latest investment came from Upfield, the largest plant-based manufacturer, and Unovis Asset Management, along with participation from notable entities such as the European Circular Bioeconomy Fund (ECBF VC) and New Tree Impact, a prominent food tech fund. Reveel, a Finnish startup specializing in interactive digital guidebooks for travel destinations, has recently declared a successful funding round, securing $650k.The funding was led by Finnish venture capital firm Inventure VC. Various business angels from the country also participated in the funding round. Saleor, the composable e-commerce platform, has successfully concluded an $8 million Seed extension round. Saleor distinguishes itself as an open-source, GraphQL-first e-commerce platform catering to high-volume companies, offering a modern stack and a user-friendly dashboard. The funding round was led by Target Global, with participation from investors including Kevin Mahaffey, Cherry Ventures, Zalando, and TQ Ventures. Estonian core banking provider Tuum has secured €25 million in a Series B financing round. The funding, led by CommerzVentures, a specialized VC fund, included participation from Speedinvest, an early-stage European VC, and existing investors. Amsterdam-based startup Hivello, focused on expanding the helium digital network by supplying Helium hotspots, has successfully secured $2.5 million in pre-seed funding to enhance accessibility for building Web3 applications. The funding was conducted in two closes, with the first in December 2023, raising $1 million, and the second, concluding at the end of January, bringing an additional $1.5 million. Investors in the rounds included Blockchain Founders Fund, Side Door Ventures, IDG, Bing Ventures, Genesis Block, NxGen, Blockchange, MH Ventures, Candaq Cypher Capital, Primal Capital, Contango Digital Assets, and others. Paris-based startup Guided Energy, which specializes in optimizing electric vehicle (EV) fleet management, has secured $5.2 million in an investment round co-led by Sequoia and Dynamo Ventures. The startup aims to onboard new clients and expand its current roster, which already includes companies such as Sixt and Addison Lee. Paris-based accounting platform Pennylane has successfully raised €40 million in a Series C funding round, achieving a valuation of €1 billion. The all-equity round was led by UK investor DST Global, with participation from US venture capital giant Sequoia Capital, both of which have been historical backers of the company. The UK-based text-to-video startup Colossyan, originally founded in Hungary, has raised $22 million in a funding round led by Lakestar. Additional participation in the funding round came from Launchub, Day One Capital, and Emerge Education. Paris-based grocery shopping and menu recommendation app Jow has disclosed a $13 million Series A extension funding round led by Northzone. This extension follows a previously announced but uncategorized Series A round, where investors such as Eurazeo, Stride, Headline, and DST Global injected $20 million into the startup. Lifestyle monitoring company Lilli has successfully raised £8.2 million in Series A led by West Hill Capital. The funds will be utilized to support Lilli's growth trajectory and its mission of assisting individuals in living safely and independently in their homes for an extended period. Cambridge-based startup Zetta Genomics, specializing in genomics, has expanded its seed round with a £1.8 million investment. The new capital comes from We Venture Capital, the innovation VC arm of diagnostics leader Werfen. The funding will be utilized to further develop Zetta Genomics' genomic data analysis platform, XetaBase. Stockholm-based Xensam, a provider of AI-powered Software Assessment Management, has raised $40 million in a growth round of funding. Expedition Growth Capital, a London-based software-focused growth equity firm, led the investment. Stockholm-born MANTLE, a company specializing in clean and clinical skincare, has raised £2.4 million in a recent funding round. The funding round was led by London-based venture capital firm Venrex. Karlsruhe-based Daedalus has secured $21 million in Series A funding to develop autonomous factories focused on manufacturing precision parts for various applications, including medical devices, rollercoaster wheels, and rocket engines. The company aims to automate the entire manufacturing process, from quoting (assessing raw materials, labor, and margins for specific items) to delivery, addressing supply chain bottlenecks faced by manufacturers. The funding round was led by US firm NGP Capital, with additional participation from existing investors including Addition and Khosla Ventures.Dutch deeptech startup CarbonX, based in Delft, has raised €10 million in funding to address the increasing demand for locally sourced critical raw materials for the battery industry. The funding round was led by Innovation Industries, InnovationQuarter, and the European women-led VC Borski Fund. Navro, previously known as Paytrix and based in London, a fintech firm with a focus on simplifying global payments for international businesses, has secured $14 million in an internal investment round led by Bain Capital and Unusual Ventures. The funding round also saw participation from Motive Partners and existing investors Fin Capital. Additionally, Navro has obtained dual Electronic Money Institution (EMI) licenses from the Central Bank of Ireland and the Financial Conduct Authority (FCA) in the UK. Eindhoven-based startup LionVolt, specializing in solid-state lithium-ion batteries, has revealed securing €15 million in equity investment over the past few months. The round was led by deep tech venture capital firm Innovation Industries and joined by Brabant-focused startup fund Brabantse Ontwikkelingsmaatschappij (Brabant Development Agency, BOM) and renowned investor Sake Bosch.Cirplus, Europe's largest digital procurement platform for recycled plastics, has announced securing a seven-figure funding round. This funding is particularly significant in the context of the circular economy, as the plastics recycling market faces challenges such as high costs and sometimes inadequate quality compared to virgin material. The lead investors in this funding round include igus GmbH, a global leader in manufacturing energy chain systems and plain bearings made from low-wear high-performance plastics, and WEPA Ventures, a venture capital company supported by the European family-owned WEPA Group. Holdbar, a Danish experience management software company founded just a year ago, has raised $3.5 million in funding. The funding round was supported by investors including Seed Capital, Firstminute Capital, Christoph Deckert, Steve Fredette (the founder of Toast), and others. Causa, a UK-based startup offering a causal AI platform for development teams, has raised an undisclosed amount in a Pre-Seed funding round. The company's main product, CausaDB, is a cloud-native platform designed to simplify the process of building, managing, and deploying causal AI. The funding round was led by Twin Path Ventures, a VC specializing in AI, with participation from angel investors. Stockholm-based Myrspoven, a company specializing in innovative solutions for energy optimization in buildings using AI, has raised €5.4 million in a recent funding round. The investment was led by various investors, including 4impact capital, Vantaa Energy, and AMAVI Capital. London-based RegTech company docStribute has raised £820,000 in a pre-Series A funding round from financial service angels. The funds will be used to further advance docStribute's mission of transforming customer communication in the financial services sector. Amsterdam-based Avantium, specializing in sustainable chemistry technologies, has raised €70 million through a capital increase. This includes a €50.5 million fully underwritten rights offering and a €19.5 million institutional upsize offering. London-based startup Stability AI has clarified that the majority of its last funding round, initially reported as nearly $50 million by Bloomberg, involved a "compute for equity" arrangement with Intel. In this deal, Stability committed to using a significant portion of the funding to purchase access to Intel's hardware resources. The investment round also included smaller investors and a minority part that did not entail hardware purchase commitments. As part of the agreement, Stability will gain access to Intel's compute resources through a new AI-optimized supercomputer that the two companies are co-developing. Ezra, a company focused on cancer detection, has raised $21 million in new funding. The funding round was co-led by Healthier Capital, a VC firm led by Amir Dan Rubin (former CEO of Amazon’s One Medical), and FirstMark Capital. Other participants included Allianz Life Ventures, the Schwarzman family, Lord David Prior (former Chairman of England’s National Health Service), Gaingels, Republic, and Mana Ventures. Existing investors such as Credo Ventures, Seedcamp, LDV Capital, Accomplice, Founders Future, Vlad Tenev, Anne Wojcicki, and Esther Dyson also participated in the round. Healthtech generative AI startup TORTUS has raised $4.2 million in seed funding, with Khosla Ventures leading the investment round. TORTUS aims to address the challenges faced by doctors, nurses, and hospital staff in the healthcare system, particularly the burden of administrative tasks. The seed round also included participation from Entrepreneur First, former NHS Chair Lord David Prior, and other investors. Belfast-based biotech company Amply has confirmed raising over £1.4 million in grant funding. The investment, provided in two tranches, includes £835,000 from Innovate UK and Innosuisse for the development of a new RNAi therapy for Acute Myeloid Leukaemia, and £602,000 from Innovate UK for the development of a new nebulized antimicrobial product for MDR-TB. Existing backers of Amply include co-fund NI (managed by Clarendon Fund Managers and supported by Invest NI and the British Business Bank), QUBIS, the Helix Way Partnership, Techstars, and angel investors from members of the Halo Business Angel Network (HBAN). Paris-based startup Groover has successfully raised $8 million in a Series A funding round. The funding round was led by OneRagtime, Trind, Techmind, and MozzaAngels, with the participation of existing investors including Partech, Bpifrance's Tech & Touch fund, Verve Ventures, and Frenchfounders. Copenhagen-based logistics startup, Portchain, has announced a successful $5 million investment round led by Angular Ventures. This latest round brings Portchain's total funding to $10 million, including previous investments from MX Ventures and various shipping executives who served as angel investors. Oxford-based sustainable aviation fuel (SAF) technology company, Velocys, has completed its transition to a private company, securing $40 million in growth capital from a consortium of investors. The consortium includes Carbon Direct Capital, Lightrock, GenZero, and Kibo Investments. London-based AI-powered waste analytics platform, Greyparrot, has secured an additional $12.8 million from Bollegraaf, the world's largest builder of recycling plants, in a strategic partnership to revolutionize global waste management. This collaboration involves the transfer of Bollegraaf's AI vision business to Greyparrot. Amsterdam-based FINOM, a digital banking solution catering to SMEs and entrepreneurs, has successfully raised €50 million in a Series B funding round. General Catalyst and Northzone led the funding round, with participation from existing investors such as Cogito Capital, Entrée Capital, FJLabs, s16vc, and Target Global. Helsinki-based tech-enabled hospitality operator, Bob W, has successfully raised €40 million in a Series B funding round. The funding was led by Evli Growth Partners and saw participation from a group of growth capital investors and notable European entrepreneurs. This includes Taavet+Sten (the investment firm of Wise's founder Taavet Hinrikus and Sten Tamkivi), Flashpoint, and Supercell's co-founder Mikko Kodisoja, along with existing investors. Delft-based FOTONIQ, a provider of greenhouse spray coating PAR+, has secured an undisclosed investment in a funding round led by Navus Ventures and Icos Capital. Existing investors, including Phase2.earth and EG Wernink, also participated in the funding round. The company is backed by experienced Dutch VC firms and Family Offices, such as SHAPE Capital and Timeless Investments. London-based D2C e-commerce company Spacegoods, specializing in mushrooms and nootropics, has secured £2.5 million in a seed funding round led by Five Seasons Ventures. Zylon, a new venture emerging from the creators of PrivateGPT, has successfully raised $3.2 million in a pre-seed funding round. The funds will be utilized to further develop the platform's generative AI tailored for small and medium-sized businesses (SMBs). The funding round was led by Felicis, with participation from LifeX Ventures and Zypsy, along with angel investors including Travis McPeak, Kirill Tashilov, and Hans-Christian Zappel. Fever, a Stockholm-based energy platform, has secured €10 million in a seed funding round led by General Catalyst, with the participation of Norrsken VC. Fever aims to assist large utility companies in trading their energy resources through tech solutions, enhancing their competitiveness in balancing energy on the grid. Newcastle-based Newcells Biotech has secured a £2.35 million investment from the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia Ventures, along with contributions from Mercia's own funds and Northstar Ventures. Newcells Biotech specializes in developing in vitro cell-based assays for drug and chemical discovery and development, contributing to the advancement of non-animal testing methods, particularly following recent changes to FDA guidance. Helsinki-based Vapaus, a provider of mobility benefits for employees, has secured a €15 million debt facility from Norion Bank. The funding will be used to expand its market presence in Finland and extend its operations into Sweden. Berlin-based deep-tech startup SimplyBlock, focused on developing low-latency, high-performance storage software, has raised $2.75 million in a seed funding round. The round was led by 42CAP, with participation from Antler and Begin Capital, as well as contributions from angel investors including Johan Svensson, the founder of Neo4j. Cambridge Mechatronics Limited (CML), a global leader in the design and control of Shape Memory Alloy (SMA) actuators, has successfully closed an oversubscribed funding round, totalling over €37 million. The funding round was led by Atlantic Bridge, with co-leads from Intel Capital and Supernova, along with participation from the Sony Innovation Fund.Go Autonomous, an AI-powered platform transforming B2B commerce by converting unstructured transactional data into actionable information, has closed a €10 million Series A funding round. Octopus Ventures and Ridge Ventures led the round, with participation from existing investors EIFO and 42Cap. This investment will support Go Autonomous in advancing its position as a disruptor in the B2B digital commerce sector. Italy-based Daze, a provider of EV charging solutions, has raised €15 million in a Series A funding round. The investment was led by CDP Venture Capital SGR, with participation from the European Innovation Council and SMEs Executive Agency (EISMEA), Founders Future, 035investimenti, Prana Venture Partners, and Simest SpA FVC. The funds will be used to support the expansion of Daze's business and contribute to the acceleration of the energy transition. Phycom, a microalgae ingredient producer based in Veenendaal, the Netherlands, has secured €1.75 million in a recent funding round led by ROM Utrecht Region and a private investor. This announcement follows the company's €9 million funding round in September 2022, which included investors such as Corbion, Phase2.earth, Invest-NL, and Invest International. Dutch medtech startup Amazec Photonics has raised €1.5 million in a seed funding round. The company plans to use the capital to further develop its diagnostic devices suitable for clinical trials. PhotonDelta and undisclosed private investors participated in the €1.5 million seed round. Oslo-based startup Midio, focused on backend development through a visual programming interface, has raised $660,000 in a pre-seed funding round. The round was led by Sondo Capital and included participation from CTO Roundtable Invest, Tiny.vc, The Nordic Web Ventures, and angel investors from Norwegian tech companies such as Oda, Sanity, Ardoq, Enode, Scrimba, and Tise. Una Health, a Berlin-based company providing an innovative approach to metabolic dysfunction management, has closed a $2.5 million seed round. The funding round was led by PeakBridge's seed fund, FoodSparks, and FoodLabs, with participation from investors including Frank Westermann (founder of mySugr) and Claire Novorol (founder of ada Health). London-based startup Koalaa, known for its world-first soft prosthetic arms designed to enhance independence for individuals with limb differences, has successfully closed a funding round of €1.1 million. The round was led by existing investor British Design Fund, with an additional £200,000 secured from the Imperial College Enterprise Fund II (ICEF), which supports startup companies closely connected to the university. Amsterdam-based Monumental, a robotic startup addressing labor, cost, and sustainability challenges in the global construction industry, has revealed itself after two and a half years of operating in stealth mode. The company also announced the successful closure of a $25 million funding round, co-led by Plural and Hummingbird. Additional participation in the round came from investors including Northzone, Foundamental, and NP-Hard Ventures. Pacifico Biolabs, a German biotech startup, has raised $3.3 million in an oversubscribed pre-Seed funding round. Led by Simon Capital and FoodLabs, with participation from Exceptional Ventures and Sprout & About Ventures, the funds will be used to scale Pacifico Biolabs' fermentation technology aimed at replacing animal and plant-based foods, starting with the seafood sector. The investors are optimistic about the startup's potential to build a sustainable business focused on the next generation. Flower Labs , headquartered in Hamburg, has successfully raised $20 million in a Series A funding round aimed at accelerating the widespread adoption of federated and decentralized AI. The funding was spearheaded by Felicis, with notable participation from investors like First Spark Ventures, Factorial Capital, Beta Works, Y Combinator, Pioneer Fund, and Mozilla Ventures. Additionally, angel investors, including Hugging Face CEO Clem Delangue and GitHub co-founder Scott Chacon, have also joined in the funding round. Silencio Network, a Munich-based startup developing a network of decentralized sensors to combat noise pollution, has raised $1 million in a pre-seed funding round. The round was led by Borderless Capital, with participation from Moonrock Capital, Master Ventures, and other investors. The funding will likely be used to further develop and expand Silencio Network's noise pollution monitoring solution. --- Join the Global Co-Investor Network for GPs, LPs and Startups - Get access to www.newnex.io. 

20 Feb

Startups

European Startups funded recently - Newnex Fortnight

06 February 2024 Newnex tracked $943+ million in funding rounds over the past two weeks in European Venture Capital. Eddy Grid, an energy storage startup based in Utrecht, has raised €1.5 million to address grid congestion, with Amsterdam-based venture capital firm and accelerator Rockstart participating in the funding. The current funding round was led by the Graduate Entrepreneur Fund, with support from Herberth Samsom, and endorsements from Rockstart’s Energy Fund and Volve Capital. Notable angel investors, including Jan Saan of CM.com, Thijs Verheul, Sjuul Berden of United Wardrobe, and Bastiaan van de Rakt of WhyCommitCapital, also joined the round. Independent living tech company Circadacare, based in Newcastle, has raised £1.3 million in a recent funding round. The funding was led by Northstar Ventures, with contributions from private and venture capital investors. Circadacare specializes in integrating circadian light technology with a unique monitoring platform to enhance wellness and support independent living. The company also received a match-funded partnership award of £358,000 from Healthy Ageing Innovate UK and £80,000 from the Longitude Prize on Dementia. Stockholm-based H2 Green Steel, a company focused on decarbonizing the steel industry through green hydrogen, has secured over €4.7 billion in funding to advance its plans for establishing the world's first large-scale green steel plant in Boden, Sweden. H2 Green Steel obtained €4.2 billion in debt financing, raised an additional €300 million in equity from investors, and received a €250 million grant from the EU Innovation Fund. The new debt funding is provided by a consortium of 20 lenders, including BNP Paribas, Societe Generale, ING, KfW IPEX-Bank, the European Investment Bank, and Svensk Exportkredit. Copenhagen-based startup Monta has successfully concluded its Series B funding round, securing €80 million. With a total funding accumulation of €130 million since late 2020, the company plans to channel the investment into expanding its partner network and enhancing research and development efforts within the electric vehicle (EV) ecosystem. The Series B round was co-led by Energize Capital based in Chicago, GreenPoint Partners, and Denmark's state-backed Export and Investment Fund. Existing investors Headline, byFounders, AENU, and Creandum, as well as new investor Quantum Light, also participated in the round. Concrete4Change (C4C), an advanced materials company specializing in the permanent capture and utilization of CO2 by mineralizing it in concrete, has secured £2.5 million in seed funding. Zacua Ventures and Counteract, a venture fund focused on carbon removals, led the round, with participation from the family office of Goldbeck. This brings the total investment raised to date to £4.5 million, including £1.5 million in grant funding. Instagrid, based in Ludwigsburg and a provider of high-performance portable battery systems, has successfully raised $95 million in a Series C funding round. The investment was led by Teachers’ Venture Growth (TVG) from the Ontario Teachers’ Pension Plan, with participation from Morgan Stanley Investment Management’s (MSIM) 1GT climate private equity strategy. Existing investors, including Energy Impact Partners, SET Ventures, blueworld.group, Hightech Gründerfonds, and advisory board chair Pierre-Pascal Urbon, also participated in this funding round. Wayland Additive, a UK-based additive manufacturing company, has disclosed a fundraise of £4.2 million to support the ongoing growth of its global customer base. Parkwalk Advisors, a supporter of Wayland since 2021, contributed £2 million as part of this funding round. The round also saw the participation of the long-term backer, Longwell Ventures, bringing the total raised in this round to £4.2 million. Berlin-based startup Morressier, which offers publishers workflows to ensure research integrity, has successfully closed a new investment round, raising $16.5 million. The company plans to utilize the capital to strengthen its go-to-market activities and explore strategic acquisition opportunities. Molten Ventures led the round, with participation from existing Series A investors Redalpine, Owl Ventures, and Cherry Ventures. OctaiPipe, the end-to-end Edge AI platform for industrial IoT, has disclosed the successful raising of £3 million in pre-Series A funding, along with a £500,000 grant from Innovate UK. SuperSeed led the pre-Series A round, and participation also came from Forward Partners, D2, Atlas Venture, Martlet Capital, Gelecek Etki VC, and Arm-backed Deeptech Labs. TravelPerk, the business travel platform, has revealed the closure of an additional $104 million investment led by SoftBank Vision Fund 2. The round includes significant participation from existing investors, such as Kinnevik and Felix Capital. This funding extension is linked to the Series D-1 round raised in January 2022, which was led by General Catalyst. The latest investment brings TravelPerk's total funding to over $520 million and elevates the company's valuation to $1.4 billion. Spotr.ai, a Dutch company based in The Hague that utilizes image recognition and Artificial Intelligence (AI) for asset management data, has announced securing €4.5 million in a recent funding round. The investment was provided by EDF Pulse Ventures, Volta Ventures, and InnovationQuarter.Berlin-based graphic design software startup Kittl, which recently secured $36 million in a Series B round led by US fund IVP, aims to address the challenges in the graphic design space. Founded in 2020, the startup has now raised a total of $50 million from investors, including Left Lane Capital and Speedinvest. Notable clients using Kittl's services include Warner Bros, Netflix, and Penguin Random House. Medtech company CardioSignal has successfully closed a $10 million Series A funding round. The funding is led by DigiTx Partners, with participation from Sandwater and existing investor Maki.vc. Verdify, a foodtech company based in Limburg, has announced the successful securing of €2.4 million in a recent funding round. The funding comes from a mix of existing and new investors, including Goeie Grutten Impact Fonds, Oost NL, Koppert Cress, and De Smaakmaker. The Dutch company plans to utilize the funds to support the scaling of its personalized nutrition innovation for both human and planetary health. Naq, the Amsterdam and London-based automated compliance platform, has successfully raised €3 million in a new funding round. The startup is focused on transforming healthcare and medical compliance in the UK and the EU. The round, which received more interest than anticipated, was led by No Such Ventures, with additional backing from existing investors. Tidal Control, a compliance automation platform for startups, scale-ups, and SMBs based in the Netherlands, has disclosed a pre-seed funding of €500,000. This funding, aimed at advancing Europe's inaugural platform for automating compliance activities, was spearheaded by Brabantse Ontwikkelings Maatschappij and Rabobank, along with contributions from Starterslift and Bossche Investerings Maatschappij. Protix, a Netherlands-based insect farming startup striving to restore balance to the food system in harmony with nature, has revealed securing a €37 million loan from the European Investment Bank (EIB). UK-based platform Setmixer, which empowers artists to record and mix live performances with the precision of a studio session, has recently disclosed a seed investment of $760,000 from Raw Ventures. Deeploi, an IT-as-a-Service startup based in Berlin, has successfully raised $6.5 million in a seed funding round led by Atomico. Cherry Ventures, a supporter from the company's €3 million pre-seed round, has reaffirmed its commitment to Deeploi as the startup embarks on the challenging scale-up phase of its journey. Metris Energy, the inaugural AI-powered solar energy platform catering to commercial property owners, has revealed a £2 million Pre-Seed funding round. The investment was led by Octopus Ventures and Aenu VC, aimed at revolutionizing how property owners evaluate, implement, and capitalize on solar energy initiatives within their portfolios. Amsterdam-based Send AI, a startup specializing in developing software to educate AI models in processing documents and emails, has raised €2.2 million in a pre-seed funding round. The funding was led by Gradient Ventures, Google's AI fund, and Dutch VC firm Keen Venture Partners. The round also saw involvement from former and current executives of UiPath, MongoDB, and Google DeepMind.Berlin-based CEEZER, a leading participant in the carbon credit market, has concluded its Series A funding round, securing €10.3 million. The round was spearheaded by HV Capital, with contributions from existing investors Norrsken VC, Picus Capital, and Carbon Removal Partners. The raised funds will be deployed to expand the startup’s footprint in the US, enhance its team, and introduce innovative solutions for carbon portfolio financing. Sirius, a startup revolutionizing the metals and mining industry, has secured an oversubscribed pre-seed round of €1.2 million from investors including Fund F, BlackWood, WEPA Ventures, Techstars, and select angels. Hamburg-based biotech company Infinite Roots, which leverages fermentation and fungi to produce the next generation of sustainable foods, has disclosed securing $58 million in a Series B funding round. This round marks the most substantial investment in mycelium technologies in Europe for Infinite Roots. The oversubscribed investment was spearheaded by Dr. Hans Riegel Holding (HRH), one of Haribo's two holding companies, and received support from the EIC Fund, an initiative of the European Commission. REWE Group and Betagro Ventures also joined in the funding round. eGabinet, a company based in Puławy that provides software for managing medical facilities, has revealed the successful acquisition of €548k in additional funding from business angels. Over the last year, the company has witnessed a doubling of its customer base. The raised capital is earmarked for improving platform functionality and providing customized solutions for doctors, clinic owners, and patients. akirolabs, a Berlin-based procuretech startup, has disclosed raising $5 million in its recent Seed funding round. Investors in this round included HTGF, OTB Ventures, D11Z Ventures, and Serpentine Ventures, alongside angel investments from industry leaders such as Fredrick Spalcke (ex-CPO of Phillips & Huawei), Heiko Schwarz (CEO of riskmethods), Markus Ehrle (VP and General Manager EMEA at ServiceNow), and Detlef Schultz (former CEO of the Vodafone Procurement Company). CarbonPool is on track to become the world's first insurance company with a carbon credit balance sheet, as it recently concluded a $12 million funding round. The funding was co-led by Heartcore Capital and Vorwerk Ventures, with participation from HCS Capital, Revent Ventures, and former members of Allianz, Axel Theis and Christof Mascher. AI audiotech startup Wondercraft has declared a successful $3 million Seed round to expand its platform. Following initial funding from Y Combinator, this round was led by Will Ventures, and joined by voice research lab ElevenLabs, and Steven Bartlett, the host of the Diary of A CEO podcast. Geospatial firm Mobile GIS Services (MGISS) has reported raising £600,000 from NPIF – Mercia Equity Finance. The Northern Powerhouse Investment Fund manages NPIF, and this investment is part of their funding initiative. Netherlands-based Paques Biomaterials, a company specializing in the production of PHA polymers using circular feedstocks, has announced securing €14 million in a recent funding round. Invest-NL and NOM led the investment in Paques Biomaterials. London-based OpenDialog, a conversational AI platform catering to regulated industries such as insurance and healthcare, has disclosed securing $8 million in a Series A funding round. The Series A investment was led by AlbionVC, with support from Dowgate Capital and various notable angel investors, directors, and staff. Edinburgh-based biotech firm Carcinotech has successfully raised £4.2 million in its latest funding round. Eos Advisory (Eos) led the investment, joined by Maven Capital Partners, Scottish Enterprise, Old College Capital, Investing Women, and existing investors TRICAPITAL, SIS Ventures, Gabriel Investment, and Alba Equity. Maven's investment is made through the Investment Fund for Scotland, managed by Maven Equity Finance on behalf of the British Business Bank. This marks the first equity deal from the £150 million Investment Fund for Scotland, launched in October 2023 to provide early-stage finance to small and medium-sized businesses across the country. Carcinotech plans to utilize the funding to expand its presence in the UK and Europe, with further plans for expansion into the US later this year. Paris-based biotech Aqemia, utilizing AI for accelerated drug discovery and design, has secured a €30 million extension to its Series A, bringing the total funding for the round to an all-equity €60 million. The initial €30 million was raised in 2022, led by French VC Eurazeo and public bank Bpifrance, with historical investor Elaia also participating. The recent extension, led by French growth investor Wendel Growth, saw all three of Aqemia's previous investors returning. Gresham House Ventures, a growth equity investor, has announced a £8.5 million investment in Ozone API, an open banking API platform founded by the team that designed open banking in the UK. The Ozone API platform supports all global standards and is trusted by banks and regulators worldwide for delivering high-performing, standards-compliant, and secure API technology, enabling them to excel in the evolving landscape of open finance. German semiconductor technology company SEMRON has announced securing €7.3 million in seed funding. SEMRON specializes in creating powerful and energy-efficient computer chips designed to enhance AI performance in compact smart devices. Join Capital led the current funding round, with participation from new investors SquareOne, OTB Ventures, Hermann Hauser (Onsight Ventures), and continued support from pre-seed investors including Dr. Wolfram Drescher (BlueWonder), Andreas Werner and Sven Sieber (Gigahertz Ventures), and Hans Rohrer, former President at TSMC, responsible for the company's European activities. BlueLayer, the end-to-end software platform for carbon project developers, has announced raising $10 million across Seed and Pre-Seed investment rounds. The Seed investment round was led by Point Nine, followed by a group of families and individuals with experience across carbon markets. Next-generation materials company Xampla has successfully raised €6.4 million in a funding round. The UK-based company specializes in biodegradable, plant-based materials, and the funds will be used to advance production, supporting major brands in transitioning away from single-use plastics. Existing backers, including Amadeus Capital Partners, Horizon Ventures, Cambridge Angels, Cambridge Enterprise, and Martlet Capital, showed significant confidence in Xampla by participating in the funding round. New investors, such as CIECH Ventures, also joined, contributing to a total investment in Xampla of €16.2 million to date. Evaro, a UK-based digital health startup offering AI-powered clinical and drug prescription services for minor conditions, has secured $1.5 million in Seed funding. Cornerstone VC led the round, with participation from Catalisi's investment arm, Syndicate Room, and the University of East Anglia. HR tech startup HireAra has raised a €527,000 seed round for its AI-powered candidate presentation platform for recruitment agencies. The round included participation from the founders of leading UK recruitment tech companies such as Mercury, SourceWhale, One Up Sales, Candidate.ID, and several sets of customers. London-based B2B payments fintech Kriya has secured a new £50 million funding facility to support credit transactions and enhance its B2B embedded finance offerings. The funding has been provided by Viola Group, an Israeli tech investment group that also provided Kriya with a £30 million credit facility last year. Kriya, backed by investors such as Northzone, Barclays, Santander, and Cogito Capital Partners, operates in the competitive fintech space of embedded payments. TVM Capital Life Science has closed an €8 million Series A financing round for Berlin-based digital healthcare startup Myosotis. Founded in 2018, Myosotis (also known as myo) aims to alleviate the workload for employees in care homes through digital solutions and enhance transparency, participation, and appreciation in the sector. This latest funding brings the company's total funding to €12.5 million. Stockholm startup Version Lens has announced a Pre-Seed funding round for its co-pilot for product managers. People Ventures, Curiosity, and Pitchdrive led the funding, with the amount not disclosed. The funds will support the team in advancing its product roadmap and launching features throughout the spring. Eatron Technologies, a developer of AI-powered battery management software for the automotive industry, has completed its A2 Series Funding. The round was led by LG Technology Ventures, with additional investment from MMC Ventures, which led Eatron’s Series A. This funding, combined with additional investment from 100th Year Venture Capital and the Türkiye Development Fund (TDF), aligns with the industry's rapid transition toward increasingly software-defined vehicles and batteries. Munich-based foodtech Planet A has secured a $15.4 million Series A round led by World Fund. The company utilizes a proprietary fermentation process to transform locally sourced ingredients like oats and sunflower seeds into its patented “ChoViva” product, a cocoa alternative that can be used to make chocolate without containing any cocoa beans. Sentify, a platform enabling users to extract actionable insights from large language model (LLM) products, has raised over $1.1 million in an oversubscribed Pre-Seed funding round led by Episode 1. The round received support from 500 Emerging Europe and a select group of top-tier angel investors. Swedish hybrid-electric aeroplane maker Heart Aerospace has raised $107 million in a Series B funding round, bringing the company’s total financing to $145 million. New investors include Sagitta Ventures, a Danish investor focused on early-stage companies. Other investors in the round include Air Canada, Breakthrough Energy Ventures, European Innovation Council Fund, EQT Ventures, Lower Carbon Capital, Norrsken VC, United Airlines, and Y Combinator. DataSnipper, a Dutch startup focused on helping auditors work faster and smarter with AI, has raised $100 million in a Series B funding round led by Index Ventures. This funding values the company at $1 billion, making it a unicorn. The new funds will support DataSnipper's expansion into new verticals, including internal auditors, tax advisors, forensic accountants, and other sectors involving data reconciliation. Greenerwave, a European leader in electromagnetic wave control technology, has closed a €15 million fundraising round. The funding was provided by the Defence Innovation Fund, underwritten by the Defence Innovation Agency and managed by Bpifrance, Safran Corporate Ventures, Intelsat, BNP Paribas Développement, and Plastic Omnium. Berlin-based device-on-demand/IT-as-a-service startup WAY has confirmed a €1.2 million pre-seed funding round. The round was led by Belgian VC fund Pitchdrive and included participation from IBB Ventures, FvS Investments, and HRtech-focused fund allygatr. Angel investors in the round include Kenjo CEO David Padilla, Comatch founders Jan Schächtele and Christoph Hardt, Joblift CTO Denis Bauer, and Circus Kitchen CTO Helge Plehn. CitySwift, based in Galway, has successfully concluded its latest funding round, securing €7 million and bringing its total funding to €14 million. The round was led by Gresham House Ventures, contributing €5 million, and saw participation from existing investors such as Irelandia Investments, the Western Development Commission, and ACT Venture Capital.--- Join the global LP-GP Co-investor network - Get access to www.newnex.io.

06 Feb

Startups

European Startups funded recently - Newnex Fortnight

23 January 2024Newnex tracked $1.6+ billion in funding rounds over the past two weeks in European Venture Capital.London-based software company Patchworks has secured £1.75 million in additional funding through a convertible loan note, with participation from Gresham House Ventures. This follow-on funding brings the total investment in Patchworks to £10.5 million, supporting the company in its mission to assist e-commerce businesses in automating and overseeing data flows across their IT systems. Vico Therapeutics, a genetic medicines company based in Leiden, Netherlands, has successfully raised €54 million in its Series B funding round. The funding, primarily led by Ackermans & van Haaren, also saw participation from existing co-leads Droia Ventures, EQT Life Sciences, and Kurma Partners, as well as continuing support from previous investors such as Polaris Partners, Pureos Bioventures, and Eurazeo. The capital will be utilized to advance the development of therapies targeting severe neurological diseases. Matisse Pharmaceuticals, located in Geelan, Netherlands, a clinical-stage company focused on developing a medicinal product for sepsis, has revealed the successful acquisition of €3.6 million in a new funding round. The funding comes from a variety of sources, including Brightlands Venture Partners, private investment firms, informal investors, and the company's management team. Holiferm Limited, a spin-out from the University of Manchester specializing in the production of sustainable biosurfactants, has successfully concluded a Series B funding round, securing £18.5 million. The funding was led by Rhapsody Venture Partners and Clean Growth Fund, highlighting strong support for Holiferm's innovative approach to manufacturing environmentally friendly biosurfactants. Genomics, headquartered in Oxford, UK, successfully raised £35 million in a funding round. F-Prime Capital and Foresight Partners spearheaded the investment, and they were joined by Infinity Investment Partners and MassMutual. Milan-based startup Contents.com, utilizing AI for its multi-lingual content generation services, has secured $18 million in a Series B funding round. The funding was spearheaded by the existing investor Synergo Capital, with additional participation from Azimut Digitech Fund, Invictus Capital, and Thomson Reuters Ventures. Whispp, an innovative AI startup headquartered in the Netherlands, is working on assistive voice technology that presents a groundbreaking solution for individuals with vocal cord impairment and whispered speech.The startup recently revealed the completion of a successful €750,000 seed investment led by the prominent investor LUMO Labs. Supported by additional funding from Leiden University’s Libertatis Ergo Holding BV (LEH) and other angel investors, this funding round is intended to strengthen Whispp's mission to transform voice technology. Mogu, an Italian biotech and biomaterials company focused on mycelium, has successfully secured €11 million in a Series A funding round. The primary goal of this funding is to facilitate the scaling of operations, support ongoing research and development projects, and inaugurate a new production plant. CDP Venture Capital and ECBF VC jointly led the Series A round, with participation from Kering Ventures and existing investor Progress Tech Transfer. The real estate value management platform einwert has successfully secured a new financing round, raising over €4 million. The funding is led by Ventech, who joins the existing group of investors, including 468 Capital, Wecken & Cie, Auxxo Female Catalyst Fund, and Infinitas Capital. Notable additions to the investor group include Peter and Anne Bosch, Martin Linder (McKinsey), Ulrich Groß, and Jürgen Roth (Immowelt). They join the existing business angels Oliver Manojlovic, VP Sales of Personio, and Dr. Stephan Rohr, founder and co-CEO of TWAICE. In an ongoing Series C round, the UK nuclear fusion startup Tokamak Energy has secured over $50 million. The funding round includes support from existing investors, as well as new investors and strategic partners. Noteworthy previous backers comprise Legal & General Capital, Hans-Peter Wild (founder of Capri Sun), and British billionaire financier David Harding. Scorestars, a basketball fan engagement platform headquartered in Tallinn, has revealed the successful raising of €725K in a Seed round of funding. Leading the investment were Trind VC, Startup Wise Guys, 3 Comma Capital, and Estonian angel investors.Dott from Amsterdam and TIER Mobility from Berlin have announced a strategic collaboration to establish Europe's leading micro-mobility operator. Operating under the names TIER and Dott, the joint entity aims to leverage their collective expertise to offer shared mobility services across European cities. The agreement is supported by a combination of existing shareholders from both TIER and Dott, with prominent backers such as Mubadala Capital and Sofina leading the way. Noteworthy contributors include Estari, M&G, Prosus Ventures, Novator, and White Star Capital, committing €60 million in equity to advance the long-term goals of the newly formed partnership. The completion of the transaction is contingent on various conditions and is expected to take effect within two months of this announcement. Enifer, a biotech startup located in Espoo, has disclosed the acquisition of grants exceeding €12 million from Business Finland for its PEKILO mycoprotein factory. This funding, sourced from the European Commission's NextGenerationEU instrument, is dedicated to establishing pioneering industrial facilities for recycling and reusing by-products. The initiative aligns with Finland's Circular Economy Action Plan and Sustainable Growth Programme. Picnic, the Amsterdam-based online supermarket, has successfully raised €350 million in a new funding round from existing shareholders, which include the German supermarket chain Edeka, the Bill & Melinda Gates Foundation Trust, and prominent Dutch family businesses. Swiss regtech company Rivero, which specializes in the digitalization and automation of payment processes, has successfully raised $7 million in a Series A funding round. Leading the round are 6 Degrees Capital and Inference Partners, with additional participation from Kraken Ventures, Seed X Liechtenstein (the venture arm of PostFinance), and notable angel investor Robert Kraal, former COO of Adyen, alongside various payment industry executives. Amsterdam-based startup Firsty has revealed a Pre-Seed growth funding round of €1.1 million. Firsty is dedicated to making mobile connectivity accessible to all, regardless of location. The funding is spearheaded by former senior executives at KPN, Marcel Smits and Godert Vinkesteijn, along with Patrick Stal, former head of marketing at Uber and N26. Cactos, a company specializing in smart energy storage systems constructed from second-life Tesla EV batteries, has secured over €26 million in funding to enhance its portfolio and contribute to reshaping the energy landscape in the country. The investment is spearheaded by OP Finland Infrastructure LP and the Finnish Climate Fund. London-based startup NumberEight, which specializes in 'privacy-first' identity solutions for the advertising industry, has successfully raised $2.7 million in Pre-Series A funding. The funding round was led by ACF Investors, with contributions from early backers Nauta Capital, Ascension Ventures, Enterprise 100 angels, and new groups like COREangels EnterpriseTech and COREangels Big Data & AI Europe. Strategic angel investors include seasoned veterans from mobile gaming, John Libby and Nick Button-Brown, as well as AdTech experts like Ionut Ciobotaru. Portuguese data and martech company Primetag have disclosed a €3.5 million funding round co-led by Indico Capital Partners and Iberis Capital. Primetag specializes in influencer marketing analytics and aims to establish itself as a hub where brands, agencies, agents, and influencers can connect and foster business growth. Munich-based car subscription platform FINN has successfully raised €100 million in a Series C funding round at a valuation exceeding $600 million. The round was led by Planet First Partners, with participation from existing investors including HV Capital, Korelya Capital, UVC Partners, White Star Capital, and Picus Capital. Eindhoven-based tibo energy, a company specializing in smart grid management to handle network congestion, save energy costs, and reduce emissions, has successfully secured €3 million in a seed round of funding. The funding round was led by Amsterdam-based SET Ventures, with additional contributions from Speedinvest and tibo energy's founding team members. The funds will be utilized to expand the team and explore opportunities in international markets. Oslo-based 1X Technologies, an AI and robotics company specializing in androids capable of human-like movements and behaviors, has revealed the successful closure of a $100 million Series B funding round. The Series B investment was led by Stockholm-based EQT Ventures, along with support from other prominent global investors, including OpenAI and Tiger Global. Trudenty, based in London, has disclosed securing $500,000 in a pre-seed funding round. The UK startup specializes in consumer data networks, providing real-time fraud risk intelligence to enhance personalized payment experiences for merchants and acquirers. The goal is to improve customer satisfaction and prevent fraud. The investment was led by Fuel Ventures, with participation from Techstars, Plug and Play, and angel investors. Soly, an international solar energy company based in Groningen, Netherlands, has announced the successful securing of €30 million in funding. The funding round was led by ArcTern Ventures in partnership with US-based Fifth Wall. Existing investors, including Shell Ventures and the Pensioenfonds ABP, also participated in the round. Pickler, a software startup based in Amsterdam that facilitates packaging companies in calculating, reducing, and sharing the impact of packaging, has disclosed securing €500,000 in a recent funding round. The investment was led by Shamrock Ventures, recognized for its sustainable tech investments. The round also received support from existing angel investor and early-stage startup investor APX.vc.Pliant, a Berlin-based company specializing in the latest generation of corporate credit cards, has raised €8 million in a Series A extension round of funding, bringing the total Series A funding to €33 million. Molten Ventures is the new investor in this round, joining existing Series A investors SBI Investment, Alstin Capital, and Motive Ventures. Delfos, a Barcelona-based startup utilizing AI-powered real-time advanced analytics to enhance the performance and reliability of renewable energy power plants, has successfully secured €6.3 million in a seed round of funding. The seed round was led by Contrarian Ventures and Headline, with participation from existing investors including DOMO.VC and EDP Ventures. Paris-based EV-charging startup Electra has successfully raised €304 million in a Series B funding round to expand its network of charging stations across Europe. The all-equity Series B was led by Dutch pension fund PGGM through its dedicated infrastructure investment vehicle. Bpifrance, a public sector bank, also joined Electra's cap table, and returning investors included French investors Eurazeo Infrastructure, Serena, and Rive Private Investment, along with 574 Invest, the investment branch of the national railway company SNCF. Electra also enjoys financial support from leading public and private investors such as EIP in Switzerland, RATP Capital Innovation, Caisse des Dépôts et Consignation/Banque des Territoires, Ademe Investissement, Eiffel Investment Group, RGreen Invest, Frst, Allianz, Groupe Chopard, and Altarea in France. Dutch company Onera Health, a pioneer in remote sleep diagnostic and monitoring solutions that enable clinicians to conduct sleep studies anytime and anywhere, has successfully completed its Series C financing round, securing EUR 30 million. The round was led by new investor EQT Life Sciences, investing from its EQT Health Economics 3 fund. It was co-led by new investor Gimv and joined by existing investors, including Innovation Industries, Invest-NL, imec.xpand, BOM, and 15th Rock. Dutch deep tech startup QDI Systems has successfully secured €5 million in seed funding. The latest funding round was spearheaded by NOM, the Investment and Development Agency for the Northern Netherlands, and saw participation from the company's existing investors, including Carduso Capital, RuG Ventures, and the notable Nordic venture capital fund Maki.vc. Additionally, the funding includes an innovation loan of €1.97 million from the Netherlands Enterprise Agency (RVO). Dutch startup QphoX, focused on critical quantum internet technologies, has raised €8 million in its latest funding round. This investment marks the largest funding for a quantum company in the Netherlands to date. The €8 million round was led by QDNL Participations, with participation from the EIC Fund, and existing investors Quantonation, Speedinvest, High-Tech Gründerfonds, and Delft Enterprises. Vertice, an integrated SaaS and cloud spend management platform, has disclosed a €25 million Series B funding round following a year of rapid revenue growth. The lead investors include 83North and Bessemer Venture Partners. Remuner, a variable compensation platform, has successfully closed a €2 million Pre-Seed round just three months after its launch. Silicon Valley-based fund Pear VC led the funding round. Other prominent venture capital funds, including Kfund, Bonsai Partners, and Enzo Ventures, as well as institutional investors such as Wayra and BStartup, also supported the round. Notable business angels, including Felipe Navío and Juan Urdiales (co-founders of JobAndTalent), Danila De Stefano (co-founder of Unobravo), and Jesper Frederiksen (VP and GM at Lacework and former VP and GM at DocuSign and Okta), also contributed to the funding. Runnr.ai, a conversational guest engagement startup, has announced a successful funding round raising €1 million. The funding is led by Arches Capital, with participation from Golden Egg Check, as well as angel investors Roland Zeller (ex-GetYourGuide), Marnix van der Ploeg (ex-Booking.com), and hotel entrepreneur Hans Pieters. Eindhoven-based Taylor, a high-tech electronics producer for solar panels, has secured €8 million in a fresh round of funding. The investment came from new investor Pensioenfonds ABP alongside existing investors Rubio Impact Ventures and Brabantse Ontwikkelings Maatschappij (BOM). Spanish startup Harbiz, which provides a technology platform to support fitness professionals, has successfully concluded a €5 million funding round. Octopus Ventures led the round, with participation from existing investors, including JME Ventures, Athos Capital, and Enzo Ventures. The funding will enable Harbiz to solidify its growth in the UK and German markets, enhance product innovation, and continue its global talent acquisition efforts. Dutch BNPL (Buy Now, Pay Later) startup Billink has secured €29.5 million in funding from German Varengold Bank. The funding will be used by the Dutch startup to expand its offering to the 50 largest Benelux web shops, enter the German market, and further advance its mission to make online purchasing fairer for both consumers and web shops through innovation and customer satisfaction. Kiln, a leading enterprise-grade staking platform, has raised $17 million in funding, bringing its total funding to $35 million. Kiln enables institutional customers to stake assets and integrate whitelabel staking functionality into their offerings. The funding round was led by 1kx, with participation from Crypto.com, IOSG, Wintermute Ventures, KXVC, and LBank. Existing investors, including Kraken Ventures, GSR, and Avon Ventures, also contributed to the round. Belgian clinical biotech company PDC*line Pharma and its partners have announced funding of €8.1 million from the Walloon region and Wallonia health cluster BioWin for the development of a personalized therapeutic vaccine based on neoantigens for colorectal cancer.TrusTrace, a Stockholm-based SaaS company specializing in product traceability and compliance, has secured $24 million in growth funding. The funding round was led by Circularity Capital, with participation from existing investors Industrifonden and Fairpoint Capital. Timeline, a consumer health biotech company based in Lausanne, has successfully secured $66 million in an oversubscribed Series D round of funding. The investment was led by L'Oréal's venture capital fund, BOLD (Business Opportunities for L'Oréal Development), and Nestlé. HutanBio, a biotech startup founded by Cambridge University scientists with operations in both Cambridge and Malaysia, is addressing the challenge of sustainable fuel in the £30 billion global shipping industry. The company recently secured £2.25 million in funding from Clean Growth Fund, a prominent UK cleantech venture capital fund. This investment will expedite the adoption of HutanBio's HBx bio-fuel oil, contributing to a reduction in greenhouse gas emissions in the shipping sector. French startup Heex Technologies has secured €6 million in its latest funding round, with support from deeptech investors such as SHIFT Invest, Karista, and Techstars. The funding also includes backing from BPI France in the form of a loan. Warsaw-based graphic development startup Gotiva has successfully raised €1.11 million in Seed funding. The funding round was spearheaded by SMOK Ventures Fund II, with additional contributions from co-investors such as Big Bets (the family office of Anton Gauffin, founder of Huuuge) and Movens Capital. Karlsruhe-based e-fuels company Ineratec has disclosed a Series B funding round totalling $129 million. The investment consortium participating in this funding round includes Planet A Ventures, MPC Capital AG, HTGF | High-Tech Gründerfonds, FO Holding, Safran Corporate Ventures, Honda, ENGIE New Ventures, HG Ventures, TDK Ventures, Copec WIND Ventures, RockCreek, Emerald Technology Ventures, Samsung Ventures, and Piva Capital. ---Get access to Newnex - www.newnex.ioJoin the global VC LP and GP network. Scale VC fund and direct co-investments.

23 Jan

Startups

Indian Startups Funded Recently

We tracked $100 million in fundraising and deal-making in the past fortnight. Newnex Fortnight India is the fundraising track of the flourishing Indian venture capital ecosystem. Published in collaboration with the Startup Europe India NetworkLarkai Healthcare, an innovative medical technology company, has successfully raised $500,000 in its seed funding round. The funding was co-led by FAAD Network, QI Ventures, RTAF, and supplemented by additional government grants. The raised capital will be utilized to enhance the company's technological capabilities and expand its sales channels through strategic investments. Larkai Healthcare specializes in groundbreaking biomedical innovations with a focus on early detection of heart impulse and valvular diseases within 15 seconds. They also offer a smart inhaler cap to minimize drug wastage in asthma or pulmonary tract disorder treatments, along with a lightweight and cost-effective disinfection tunnel among their diverse range of solutions. Settl, a co-living operator, has successfully raised Rs 10 crore in its pre-Series A funding round from Gruhas and We Founder Circle. The capital infusion is intended to fuel the expansion of Settl's business. The funding round also saw participation from Anthill Ventures, Inflection Point Ventures, Ah! Ventures, Nila Spaces Limited, Soonicorn Ventures, Awficacy Capital, Pai Ventures LLP, and Ekyum. Gurugram-based startup, Slurrp Farm, specializing in children's snacks and meals, has recently secured a fresh investment of Rs 59.9 crore in a funding round featuring a mix of new and existing investors. This marks a return to capital acquisition for the company after a hiatus of nearly two years. Among the investors, existing backers Fireside Venture and Raed Capital contributed Rs 12.4 crore and Rs 5.48 crore, respectively. New investors Alkemi Ventures and Madhurima International each invested Rs 17.5 crore, while Sharrp Ventures, the investment office of the Harsh Mariwala family, also participated with an investment of Rs 7 crore. In a recent funding round, Chennai-based health-tech platform Curebay has successfully raised Rs 61.8 crore, with existing investor Elevar Equity taking the lead. Following the additional funding, Elevar Equity now holds the largest external stake in the company at 34.08%, followed by Hemani Industries and InCred Wealth. Country Delight, the dairy brand, has successfully raised Rs 164.4 crore in a Series E funding round, attracting support from both new and existing investors. This funding marks a return to capital acquisition for the Gurugram-based startup after a hiatus of over 20 months. Temasek took the lead in the round, contributing Rs 78.16 crore, while Seviora Capital, a new investor, injected Rs 57.77 crore into the Series E round. Additionally, existing investor Venturi Partners participated by contributing Rs 28.55 crore in this investment round. In an extended Series A round, mental health startup Amaha (formerly InnerHour) has secured $4.4 million in funding from Fireside Ventures. This marks the first fundraising effort for the Mumbai-based company in the last two years. Amaha, developed by therapists and psychiatrists with global experience, is dedicated to delivering quality mental health care and addressing the treatment gap in India. The startup has been valued at approximately Rs 177.2 crore or $21.35 million. To date, Amaha has raised around $10 million from investors such as Lightbox Ventures, Capricorn Partners, Pankaj Sahni, Hitesh Oberoi, and Ashish Bhargava, among others. In a Series B funding round, supply chain startup Wiz Freight has secured $11.24 million, with Japan-based venture capital firm SBI Investments leading the investment. This funding marks the first capital infusion for the Chennai-based startup in over 20 months. OneCard, a mobile-first credit card startup, has successfully raised $11.44 million in debt from Alteria Capital. This marks the second round of debt funding for the company within the past few months. According to regulatory filings with the Registrar of Companies, the board at OneCard passed a special resolution to issue 9,500 Series B debentures at an issue price of Rs 1,00,000 each, resulting in a total funding of Rs 95 crore. In the Series C funding round, Akshayakalpa Organic, the organic dairy startup, has successfully raised $12 million. A91 Partners took the lead in the round with an investment of Rs 64.8 crore, and existing investors Rainmatter Capital and British International Investment, the UK’s development financial division, contributed Rs 18.6 crore and Rs 16.6 crore, respectively.Top of Form MakeO, the parent company of dental tech startup Toothsi and skincare brand Skinnsi, has successfully raised $16 million in a funding round led by 360 ONE Asset and the investment office of Ashish Kacholia. Existing investors Eight Roads Ventures, Paramark Ventures, IIFL, and the family office of Medlife’s co-founders also participated in the round. With the recent funding, MakeO has raised a total of $90 million across equity and debt rounds. The company plans to utilize the fresh funds to expand its geographic footprint and scale its experience centers throughout the country. In a pre-Series A funding round, B2B-focused SaaS start-up Glamplus has secured ₹16.5 crore from investors including Upsparks, Eagle10 Ventures, ITI Growth Opportunities Fund, and Inflection Point Ventures. Notable participation also came from Kube VC and prominent investors like Gopal Krishna Varshney and IR Capital Partners. The company has announced that the funds will be utilized for B2B expansion in Tier I and Tier II cities, as well as to facilitate entry into international markets. In its Series A funding round, custom manufacturing platform Karkhana.io, which serves manufacturing MSMEs, has successfully raised $6.3 million. The round was led by Arkam Ventures and Susquehanna Asia Venture Capital, with participation from existing investor Vertex Ventures Southeast Asia and India. The funds raised will be utilized by Karkhana.io to expand its supplier base, improve its electronics supply chain, and support its expansion plans across the United States and Europe. Karkhana.io specializes in providing sourcing and contract manufacturing solutions to original equipment manufacturers (OEMs) and technology companies. The platform collaborates with manufacturing MSMEs in India, delivering customized manufacturing solutions across various product categories such as electric vehicles, medical equipment, consumer electronics, aerospace, and more, addressing small batch to mass production requirements. Bengaluru-based wealthtech startup Fisdom is in the process of raising approximately $5 million from its existing investor PayU as part of its ongoing Series C round. In the previous year, Fisdom secured close to $14 million from existing investors like PayU and Quona Capital at a valuation of around $145 million.----VCs, LPs, Family Offices, Asset Managers and Startups - get access to Newnex - www.newnex.ioJoin the global LP and VC co-investment platform for managing and collaborating co-investors at scale. The future is digital: go beyond your immediate network and get your investments and fundraisings closed rapidly. 

16 Jan

Startups

European Startups funded recently - Newnex Fortnight

09 January 2024 Newnex team wishes you a Happy New Year 2024. Good times on the horizon.The past few weeks fundraising in Europe has been rather slow given the holiday period. We tracked $145m in European VC fundings. Gaining expertise in creating hybrid bikes designed for extended journeys, GIN E-Bikes has secured a funding of £510,000 from Toloka.vc, a Ukrainian investment firm. The arrangement includes a debt component, with quarterly interest payments to the investors. In its inaugural funding round, Lumian, an energy platform operating in Turkey and Germany, has successfully raised $3.2 million. With support from DOMiNO Ventures and energy sector expert İsmail Ferhat Özlü, Lumian seeks to enhance its sales volume in global markets through this new investment. Apollo Therapeutics, a biopharmaceutical company, has completed its Series C financing with a second close, securing an additional $33.5 million in December 2023. This brings the total funds raised by the company in 2023 to $260 million, furthering its commitment to translating medical research into groundbreaking medicines. Patient Square Capital spearheaded the round, with participation from new investors, including M&G plc and two significant US public pension plans, along with continued support from existing investor Rock Springs Capital. Manina Medtech, a startup based in Catalonia, has successfully raised €1.75 million in funding to enhance the efficacy of IVF embryo implantation. Medex Partners spearheaded the funding round, accompanied by investments from a consortium of business angels, and backing from the Ministerio de Ciencia e Innovación through its national scientific research and transfer program. Robin AI, an AI-powered legal copilot, has disclosed the successful completion of its Series B funding round, raising $26 million. The funding, led by Temasek, a global investment company based in Singapore, brings the total funding for the company to $43.6 million. Notable participation in the Series B round comes from investors such as QuantumLight, Plural led by Taavet Hinrikus, and AFG Partners. MELP (Medical services, Employee benefits, Lifestyle & Longevity, and Protection), a Vilnius, Lithuania-based startup focusing on digital employee well-being management, has successfully raised €635,000 in an early seed stage funding round led by Coinvest Capital. The round also saw participation from business angels based in Lithuania and the UK. The newly acquired funds will be utilized to expedite the startup's international expansion. Bumper, a fintech startup based in London, specializing in facilitating flexible payments for car repairs, has successfully concluded a €46 million Series B fundraising to fuel its growth. The funding structure includes €17.25 million in equity and €28.75 million in debt. This round brings Bumper's total funding to €61 million to date. Autotech Ventures spearheaded the investment, and notable participants include Shell Ventures, JLR’s InMotion Ventures, Porsche Ventures, and Revo Capital. Dutch startup Nuwa, creator of the world's most advanced pen that digitizes handwriting on paper, has successfully secured €1.5 million in funding. The investment was provided by a prominent US consumer goods company, bringing Nuwa's total seed funding for the previous year to €2.5 million. Self Space, a pioneer in on-demand mental health services on the high street, has successfully secured €2.6 million in seed funding, with Redrice Ventures, a purpose-driven venture capital firm, leading the investment. This fresh capital injection will enable Self Space to address growing demand by expanding its same-day mental health support services throughout the UK and across a comprehensive spectrum of mental health needs.Paris-based startup Nabla, specializing in an AI-powered tool that creates clinical notes from patient consultations, has secured $24 million in a Series B funding round, bringing the total funding to $43 million. The investment was led by global VC Cathay Innovation, with participation from French investor Zebox Ventures, founded by tech investor Rodolphe Saadé. In 2021, Nabla had raised €17 million from UK VC firstminute capital, French billionaire Xavier Niel, and Sweep CEO Rachel Delacour. The funds will support the company's expansion in the US.---Get access to Newnex - www.newnex.ioJoin the global VC LP and GP network. Scale VC fund and direct co-investments. 

09 Jan

Venture Capital

Indian Startups Funded Recently

The Indian market is on a rapid growth trajectory. In collaboration with Startup Europe India Network, we're expanding our fundraising track, Newnex Fortnight India, to India's rapidly booming venture capital ecosystem. We tracked $670 million+ in fundraising and deal making in the past weeks.Aye Finance, an Indian startup specializing in digital lending services for small businesses, has secured $37.18 million in a recent funding round led by British International Investment. The company aims to use the funds to further support the growth of micro-enterprises and help employees increase their incomes. This Series F funding brings Aye Finance's total fundraising to almost $200 million and includes contributions from Waterfield Fund of Funds, along with continued support from existing investor A91 Partners. Notably, in 2020, the startup raised $27.5 million in its Series E funding round with CapitalG, an investment arm of Alphabet, leading the way. In a recent funding round, Vegrow, a B2B marketplace specializing in fruits, secured $46 million in primary and secondary funding. The round was spearheaded by GIC, with participation from current investor Prosus Ventures, as well as Matrix Partners India, Elevation Capital, and Lightspeed. The distribution-as-a-service platform ofScale has successfully raised $375,000 in a pre-seed funding round. First Cheque led the round, and there was participation from Matrix Partners India DeVC, Relentless VC, and other angel investors such as Abhishek Goyal, Mekin Maheshwari, and Revant Bhate. Aliste Technologies, a startup focused on smart home automation, has secured $1 million in a recent funding round, with YourNest Venture Capital and Artha Venture Fund leading the investment. The funding round also included contributions from Dholakia Ventures, KRS Jamwal, Anikarth Ventures, and others. Among the existing backers is 100X.VC. Currently establishing a significant presence in the Delhi-NCR region and recently entering the Bangalore market, Aliste Technologies intends to utilize the newly acquired capital to expand its reach across India and enhance brand awareness initiatives.Agilitas Sports, the sporting equipment startup, has successfully raised Rs 100 crore in a funding round led by Nexus Venture Partners. This additional capital infusion comes a few months after Agilitas secured Rs 430 crore in its inaugural funding round from Convergent Finance LLP, an investment management and advisory partnership led by Harsha Raghavan. BetterSpace, a mental health-tech startup based in Raipur, Chhattisgarh, has secured ₹4.5 million in its first pre-seed funding round, with prominent startup community-builder and accelerator PedalStart leading the investment. Previously relying on bootstrap funding, this capital injection will be utilized by the company to enhance its existing offline and online services, develop a new product range including games and toolkits, improve marketing and brand visibility, optimize technology and the app for broader accessibility across various devices, and attract and acquire talent, among other strategic initiatives. The investment division of the UK retail bank M&G has taken the lead in a funding round of $340 million for Udaan, a business-to-business e-commerce startup. This marks one of the largest financing rounds secured by an Indian startup in 2023. Udaan, headquartered in Bengaluru, assists merchants in smaller Indian cities and towns in obtaining inventories from major brands and gaining access to working capital. The new funds, including some convertible debt, were also contributed by existing investors Lightspeed Venture Partners and DST Global. The Series E funding, subject to regulatory approval, is a significant boost for Udaan, which has focused on cost reduction and efficiency improvements over the past two years. Despite competition from various players, including Mukesh Ambani's $100 billion Reliance Retail, the largest retail chain in India, Udaan continues to make strides in the business-to-business e-commerce space.In a Series B funding round, Exponent Energy, a rapid-charging startup focused on electric vehicles, exponent.energy has successfully raised $ 26.4 million. The round was led by Eight Roads Ventures, with a strategic investment from TDK Ventures. Additionally, all existing investors, including Lightspeed, YourNest VC, 3one4 Capital, AdvantEdge VC, and the family office of Pawan Munjal, participated in this funding round. Farmley, a healthy snacking brand, has secured $6.7 million in a pre-Series B funding round. The funding was led by BC Jindal Group, with participation from existing investors DSG Consumer Partners, Omnivore, and Alkemi Partners. DSG and Alkemi were also leaders in a $6 million Series A round for Farmley in August of the previous year, and the company had previously raised $2 million in a seed round in 2020 from Omnivore and Insitor. The new funding will be utilized by Farmley to expand its presence across offline retail touchpoints and enhance brand-building initiatives. Notably, the brand recently enlisted former Indian cricketer Rahul Dravid as its brand ambassador. Peptris, an AI drug discovery startup, has successfully raised $1 million in its pre-seed funding round, with Speciale Invest leading the investment. The funds obtained will be directed towards intensifying the company's initiatives in drug research and discovery, with a particular emphasis on advancing AI-driven solutions. Peptris aims to use the funding to focus on creating new treatments for challenging targets, particularly in the fields of rare diseases, inflammation, and oncology. HouseEazy, an online marketplace for pre-owned homes, has secured $1 million in a seed funding round led by Antler, with participation from India Accelerator, AC Ventures, Agility Ventures, Finvolve Ventures, Pirojsha Godrej, and Sandeep Aggarwal, the founder of Droom. The proptech firm had previously raised $375,000 in a pre-seed round in June of the previous year. The newly acquired funds will be utilized by HouseEazy to enhance its distribution channels and strengthen its technological capabilities, according to a press release from the company. Fintech firm InCred has achieved unicorn status, having raised $60 million in a Series D funding round from both new and existing investors. InCred Wealth, the wealth management entity of InCred, spearheaded the funding with an investment of $36.76 million, followed by MEMG Family Office contributing $9 million. Notable individual investors include Ravi Pillai, Chairman at RP Group of Companies, with a contribution of $5.4 million, and Ram Nayak, Co-Head of Deutsche Bank, who invested $1.2 million. Additionally, InCred Special Opportunities Fund VCC, a Singapore-registered entity of InCred, participated with $5.3 million. Varanium Capital Advisors and NABS Vriddhii also joined the round, contributing $1.22 million and $1.2 million, respectively. InCred is the second company, following Zepto, to achieve unicorn status in the current year. Kitchens@, a cloud kitchen startup, has secured $65 million in Series C funding from Finnest, a London-based growth investment firm. Founded by Dr. Biswanath Patnaik and Mr. Arun Kar, the latter being an ex-military officer, Finnest has previously invested in various sectors, including renewable energy, electric and hydrogen-powered automotive, sports and entertainment, smart cities, hotels and hospitality, and aerospace technologies. BatX Energies, a lithium-ion (Li-ion) battery recycling company, has secured $5 million in its pre-Series A funding round, with investment support from Zephyr Peacock and LetsVenture. The startup's current backers, including JITO Angel Network, family offices associated with Mankind Pharma, Excel Industries, BluSmart, and others, also took part in the funding round. In its Series A funding round, agritech startup Fasal has secured INR 100 crores. The funding was led by TDK Ventures and British International Investment (BII), the United Kingdom's development finance institution and impact investor. Additional contributions came from ITI Growth Opportunities Fund, Navam Capital, and Aureolis Ventures. Notably, all existing investors, including 3one4 Capital, Omnivore, Wavemaker Partners, Genting Ventures, and The Yield Labs Asia Pacific, also participated in the round. Snitch‎, a men's apparel fashion brand, has raised Rs 110 crore in its Series A funding round, with co-leadership from SWC Global and IvyCap Ventures Advisors Private Limited, along with backing from key angel investors. The newly acquired capital will be utilized to drive Snitch's expansion efforts, focusing on talent acquisition, technology enhancements, and the implementation of an offline retail strategy to strengthen its market presence. Enrico Eyewear, a prominent eyewear brand, has secured Rs 2.1 crore in a pre-seed funding round, with 100X.VC leading the investment. The company intends to deploy the raised funds to broaden its market presence through various distribution initiatives, educate customers on the significance of high-quality eyewear, and uphold eye health. Oxyzen Express, a startup specializing in express logistics and supply chain solutions, has successfully concluded its second round of seed capital fundraising, securing $3 million to invest in next-generation logistic technology. The funding, which took place during the current fiscal year, saw lead investments from the Tamil Nadu Emerging Sector Seed Fund and the SNAM group of companies. A variety of other angel investors also participated in the round, and Lion Hill Capital served as the financial advisors facilitating the fundraising process for the Chennai-based company. Alt Carbon, a climate action startup based in India, has raised $550,000 in a pre-seed funding round led by Shastra VC (formerly Veda VC) and a consortium of strategic angel investors. The funds raised will be deployed to assemble a skilled team, including geologists, geochemists, and geospatial scientists based in India. Alt Carbon aims to leverage this talent pool to conduct a pilot project in early 2024, with a focus on developing robust and high-quality carbon removal credits for the voluntary carbon offset market. Revfin, an electric vehicle financing startup, has successfully raised $14 million in its Series B round, with Omidyar Network leading the investment. The funds will play a crucial role in furthering Revfin's dedicated efforts to strengthen the electric vehicle (EV) ecosystem, as mentioned in the company's press release. Furthermore, the funding will be allocated to support various elements of the EV ecosystem, including charging stations and batteries.----Get access to Newnex - www.newnex.ioJoin the global LP and VC co-investment platform for managing and collaborating with co-investors at scale. The future is digital: go beyond your immediate network and get your deals done privately and fundraisings closed rapidly. Invite VCs privately to co-invest in startups' current and future round. Invite LPs privately to co-invest in funds.

02 Jan

Venture Capital

European Startups funded recently - Newnex Fortnight

26 December 2023Newnex tracked $677 million in funding rounds over the past two weeks in European Venture Capital.Seasony, a leading player in the mobile robotics sector for vertical farming, has recently concluded its latest funding round, successfully securing €1.5 million in investment from a distinguished group of investors. The primary contributors to this round were North Ventures and EFIO (Export and Investment Fund of Denmark). Additionally, notable and seasoned business angels such as Vagn Ove Soerensen, Torben Wind, Klaus Holse, Barbara Taudorf Andersen, Nicolaj Reffstrup (Look Up Ventures), and others, participated in the investment round. Minut, a Malmö, Sweden-based short-term rental property monitoring company, has secured an additional $5 million in funding for its Series B round from Smedvig Capital. Existing investors, including Almaz Capital, Zenith, Kompas, Karma, KPN Ventures, SOSV, Verve, and others, have also participated in supporting Minut's growth. NeoCarbon, a cleantech startup based in Berlin, has disclosed the successful completion of a €3.2 million seed funding round. RAISE Seed For Good, a fund operated by RAISE Ventures that supports responsible tech leaders in Europe, led the funding round, with participation from PT1 – Proptech1 Ventures, Speedinvest, and Antler. The round also attracted support from notable angel investors such as Christian Vollmann and Matthias Gotta. Tacto, the German AI-based operating system for resilient supply chains, has secured €50 million in a funding round led by Sequoia Capital and Index Ventures. Existing investors participating in the financing round include Visionaries Club, Cherry Ventures, and UVC Partners. Plan-B Net Zero, a green energy startup based in Zug with its subsidiary in Mühlheim am Main, is dedicated to promoting renewable energy globally and expediting the shift to a low-carbon future. The Swiss startup has successfully raised €9.2 million in a Series A investment, led by Yamato Capital AG from Switzerland, with the participation of its community from the inception. Aria, a French fintech addressing the issue of late payments affecting freelancers, has successfully raised €15 million in a Series A funding round. The funding was led by 13books Capital. Other participants in the round include Adevinta Ventures, Ankaa Ventures, Otium Capital, along with notable angel investors like Laurent Ritter (Purple), Mark Ransford, and Guillaume Princen (former Stripe executive). SCIL Nanoimprint Solutions, headquartered in Eindhoven and specializing in providing technology for patterning nano-structures on large wafers through lithography, has raised more than €10 million in a recent funding round. Invest-NL led the investment through the Deep Tech Fund, with participation from imec.xpand, RSBG Ventures, and Brabantse Ontwikkelings Maatschappij (BOM). nuvo, a Hamburg-based SaaS startup providing AI-powered data onboarding solutions, has revealed the successful closure of a €3 million seed funding round. La Famiglia led the funding round, with participation from both new and existing investors, including FoodLabs, APX, Collective Ventures, Exxeta Ventures, and several business angels. Spore.bio, a Paris-based deeptech startup responsible for the development of the world's inaugural real-time pathogen detection device designed for factories, has disclosed the attainment of €8 million in a pre-seed funding round. LocalGlobe spearheaded the funding round, and it saw the participation of prominent investors and experienced angels in the industry, FMCG, and AI sectors, including EmergingTech Ventures, No Label Ventures, Famille C (Clarins Family Office), Better Angle, Mehdi Ghissassi (Google DeepMind), Roxane Varza (Station F), and others. German Bionic, a robotics company located in Bavaria, Germany, specializing in the development and manufacturing of smart power suits and wearable technologies, has revealed the successful acquisition of €15 million in an extended Series A funding round. The funding round was headed by German automotive supplier Mubea, with involvement from existing investors Benhamou Global Ventures, Bayern Kapital, IT Farm, Kailua Ventures, Cumberland VC, and Family Office Klein. Carthera, a medtech company that originated as a spin-off from Sorbonne University, has disclosed an additional €4.5 million in funding to supplement its Series B financing round, resulting in a total raised amount of €42 million. The company has expanded its investor pool with the inclusion of its first U.S.-based venture capital firm, Unorthodox Ventures, while existing shareholders Supernova Invest, Saint-Genys, and Bouscas Med also contributed to the funding. Pivot, an advanced spend management solution deemed to outperform Oracle NetSuite's procurement component or Coupa, has successfully secured $21.6 million in a recent Series A funding round. The funding comes primarily from existing investors, including Visionaries, Emblem, Anamcara, and Oliver Samwer. Swiss company Metafuels, a developer of sustainable aviation fuel compatible with existing aircraft, has disclosed raising €8 million in Seed funding. This investment is provided by climate-focused venture capital firms Energy Impact Partners (EIP) and Contrarian Ventures. Estonian sustainable packaging firm Woola has revealed a funding round amounting to €2.5 million. The company specializes in crafting protective wool packaging as an eco-friendly alternative to plastic. Metaplanet leads the funding, with continued support from Future Ventures and Lemonade Stand—both longstanding investors in Woola since 2021—alongside contributions from new angel investors. Dutch-Norwegian cleantech company SolarDuck has secured €15 million in additional funding to advance its Offshore Floating Solar power technology. The investment comes from a mix of existing and new investors, forming an international consortium that includes Katapult Ocean, Green Tower, Energy Transition Fund Rotterdam, and Invest-NL. RTI Blockchain, headquartered in Delft, has successfully raised €2.5 million in a recent funding round. The Dutch startup specializes in providing digital management solutions for reusable transport items within the logistics sector. With a vision to position blockchain as the leading global solution for load carrier management, RTI Blockchain attracted investment from a diverse group of backers, including experts in technology, logistics, and the Borski Fund. Ecoworks, a climate-neutral building renovation company, has disclosed one of the most substantial Series A funding rounds in the global construction technology sector, totaling €40 million. The leading contributor to this funding round is World Fund, with additional investments coming from Haniel, KOMPAS VC, and ISAI.Arbonics, a climate tech startup headquartered in Tallinn, has revealed securing €5.5 million in a Seed round of funding from NordicNinja, Plural, and Tilia Impact Ventures. Meniga, a fintech startup, has disclosed raising €15 million in its Series D funding round, bringing the total funding for the company to €55 million. The investment comes from prominent European banks Groupe BPCE and Crédito Agrícola, along with leading Icelandic venture capital group Omega ehf, and involvement from various existing shareholders. Wholesale procurement platform Qogita is coming out of stealth mode and revealing it has secured €80 million in Series B funding, led by Dawn Capital. Previous investors, including Series A lead Accel and Seed co-leads LocalGlobe and Bessemer Venture Partners, also participated in this round. Estonia-based RegTech firm Salv, focused on combating financial crime, has recently revealed the successful acquisition of €3.9 million in new funding. The funding round includes contributions from existing investors Passion Capital, G+D Ventures, and ff Venture Capital, as well as new investors yet to be disclosed. Jenesys AI, a London-based fintech startup under the umbrella of GenAI, which is developing an AI 'bookkeeper' to assist with B2B payments and compliance in back office accounting, has successfully raised $1.1 million in a pre-seed funding round. The funding was spearheaded by seasoned AI investors Nick Slater and John Spindler from London's Twin Path Ventures. It also saw participation from Fuel Ventures, Antler, Hatcher+ in Singapore, and experienced angel investors from both the US and UK.Vienna-based SaaS scale-up HYDROGRID revealed on Friday that it has raised $8.5 million in a Series A funding round. The funding was led by new shareholders Inven Capital and Karma Ventures, with additional contributions from existing investors CNB Capital and SET Ventures. This infusion of capital will enable the Austrian scale-up to expand into new markets and make strides toward a zero-carbon future. Vectoflow, the manufacturer of 3D printed flow measurement systems, is excited to declare the successful closure of its Series A investment round, securing €4 million in funding. The round was supported by new key investors, including Bayern Kapital Innovations fonds II, WN Invest, asto One Investment, argo vantage, Schwarz Holding, Dr. Rolf Pfeiffer, along with existing seed investors AM Ventures and KfW Bankengruppe. Norway-based BRUDELI, an electric transmission technology firm, has secured approximately €1.34 million in a recent funding round. The funding round was spearheaded by Hexagon Composites ASA and Leax Group AB, significant players in clean fuel and transmission components for commercial vehicles. CareerFairy, a video recruiting platform targeting Generation Z, has secured a €3.5 million investment, marking its largest funding round to date. The primary investor in this round is the prominent European media group Mediahuis. CareerFairy also enjoys support from investors such as Swiss Post Ventures, Backbone Ventures, and business angels from SICITIC, Start Angels, and Business Angels Switzerland. Spanish startup Green Eagle Solutions has successfully concluded a €6 million Series A funding round. The company offers an AI-powered Enterprise SaaS product designed to automate the operations of renewable energy assets. The Energy Transition Tech Fund of A&G spearheaded the Series A round, with additional commitments from previous investors Kibo Ventures and SET Ventures. Fiat Republic, the London-based specialist Banking-as-a-Service (BaaS) platform, has declared the successful closure of a $7 million Seed extension round. Participants in the round include first-time investors Kraken Ventures, Fabric Ventures, Arca, Inovo.vc, and Pretiosum Ventures, alongside existing investors Speedinvest, Credo Ventures, and Seedcamp. Vitt, a London- and Berlin-based startup purporting to offer a comprehensive cash management solution for startups, has secured €1 million in financing. The funding round was spearheaded by Better Tomorrow and Speedinvest. Notably, Max Tayenthal, founder of N26, also participated in the funding round for Vitt. Munich-based Blickfeld, a manufacturer of LiDAR solutions, has disclosed securing €7.5 million in an initial growth round of funding. The investment was led by private equity firm New Future Capital and UVC Partners, and also included participation from existing investors such as Bayern Kapital, Continental, Fluxunit (ams OSRAM Ventures), High-Tech Gründerfonds, and Tengelmann Ventures. LUMA Vision, headquartered in Dublin and Munich and known for its innovative four-dimensional (4D) cardiac imaging and navigation platform, has declared the successful acquisition of $22 million in a Series A3 funding round. The round was led by existing investors EQT Lifesciences, ABV Uni Fund, and imec.xpand. Additionally, the latest round included three new investors, including an undisclosed multinational strategic investor, Atlantic Bridge Growth Fund, and Bayern Kapital.Hivello, a startup based in Amsterdam specializing in decentralised physical infrastructure networks (DePIN), has revealed the successful closure of a $1 million pre-seed investment round. The funding round received support from NGC, Blockchain Founders Fund, Side Door Ventures, IDG, Bing Ventures, MEXC Exchange, XT.com Exchange, Genesis Block, and NxGen. Unlimitd, a leading digital financing platform in France, specializing in revenue-based financing, has announced a significant €100 million investment from Absolute Capital Partners (ACP). EVUM Motors, a Munich-based startup specializing in the design and manufacturing of electric utility vehicles, has successfully secured €20 million in funding. The investment is led by European growth deep tech private equity firm Jolt Capital, with support from Bayern Kapital and other existing investors. NETRIS Pharma, a clinical-stage biopharmaceutical startup based in France, focused on developing next-generation molecules targeting cancer resistance, has secured an additional €7.5 million in an extension round. The new investment comes from new investors, including the EIC Fund, following the startup's selection for the EIC accelerator program. suena, a Hamburg-based startup specializing in AI-driven optimization and power trading services for flexible energy assets, such as large-scale battery storage, has concluded a €3 million seed funding round. The funding was co-led by the Santander InnoEnergy Climate Fund. Additional participation in the round came from existing shareholders EIT InnoEnergy, Raakwark Kaptaal, and Business Angels. Orbital Eye, a Delft-based company providing monitoring and inspection services, has announced the successful securing of €2 million in a new funding round. The round was spearheaded by S[&]T Ventures, with support from the Netherlands Enterprise Agency (RVO) and the Ministerie van Economische Zaken en Klimaat through the InnovatieKrediet instrument. HiiROC, a startup with an innovative proprietary process for low-cost, zero-emission hydrogen production, has secured over £30 million from investors. Notable contributors include Melrose, Wintershall Dea, Centrica, HydrogenOne, Hyundai, CEMEX, and Kia. Lithuanian medical device company Sentante has announced the successful closure of a €6 million Seed funding round. The round was led by Practica Capital, with the participation of the EIC fund. German data storage startup UltiHash has raised $2.5 million in Pre-Seed funding. The funding round was led by Inventure, with participation from PreSeedVentures, Tiny VC, Futuristic VC, The Nordic Web, Antti Karjalainen (Founder and angel scout for Sequoia Capital), and other private investors. Copenhagen-based Podimo, a provider of podcast and audiobook subscription services, has secured €44 million in a recent funding round. The investment came from The Danish Export and Investment Fund (EIFO), HighlandX, and Augustinus Fabrikker. Collaborative visual software company Kosmik has raised $3.7 million in Seed funding. The funding round is led by Creandum, with additional participation from existing investors Alven, Kima Ventures, Betaworks, Amjad Masad (the founder of Replit), Andrew Sutherland (the founder of Quizlet), and other prominent business angels. IT security provider Link11 has successfully closed another financing round, raising €26.5 million with Dutch investor Pride Capital Partners. The funds will likely support Link11's continued development and expansion of its global security cloud platform, which offers innovative protection against cyber attacks for companies worldwide. Utrecht-based Campercontact, a platform connecting motorhome travelers with motorhome site providers, has announced securing €2 million in growth funding. The investment, coming from Airbridge Equity Partners, a technology-focused investment firm, is intended to support the platform's expansion and scaling efforts across Europe. DTE, an Icelandic startup revolutionizing metal production and processing to make it more sustainable, safe, and efficient, has secured an additional $6 million in Series A2 funding. The investment comes from growth investor Eyrir Vöxtur, alongside existing backers, the European Innovation Council (EIC) Fund. This brings the total Series A2 round secured by the company to $16 million, following an earlier $10 million investment earlier this year from Novelis, Metaplanet and previous investors Chrysalix Venture Capital, and Brunnur Ventures. --------Get access to Newnex - www.newnex.ioJoin the global VC LP and GP network. Scale VC fund and direct co-investments.

26 Dec

Artificial Intelligence

Last week in Artificial Intelligence (AI)

18 DecemberThis week has not been carrying too many block buster events, nonetheless there are some important news you need to be informed about. Newnex is bringing the AI top-news and discussions on AI happening every week. Here is last week's top developments.The UK high court rules that AI invention is patentable. Previously UK IPO had refused to recognise AI patent considering it to be a computer program. Read more and Read other news (did not happen last week but important)The gist:The High Court has overturned a UK Intellectual Property Office (UKIPO) decision, ruling that an AI invention for media-file recommendations based on artificial neural networks (ANNs) is patentable. The judge found the invention did not fall within the computer program patentability exclusion, signaling a positive move for AI innovators. The decision is the first to consider the exclusion in the context of AI, potentially opening the door to patent protection for many AI inventions. The UKIPO has temporarily suspended its examination guidelines on AI-related patent applications while reviewing the judgment, highlighting the decision's significant impact on patent protection for AI in the UK. The ruling positions the UK as an AI-friendly jurisdiction and aligns with the government's push for AI development and innovation. 2. EU's AI act is moving ahead - Read here The gist:The European Parliament, Council of the European Union, and European Commission have reached a political agreement on the EU Artificial Intelligence Act (AI Act) on December 9, 2023. The agreement covers key aspects, including the scope of the AI Act, classification of AI systems as "high-risk," and law enforcement exemptions. The AI Act aims to regulate the development, import, deployment, and use of AI systems in the EU. The agreement includes prohibitions on certain AI practices, obligations for high-risk AI systems, the right for citizens to lodge complaints, rules for general-purpose AI models, the establishment of a European AI Office and AI Board for oversight, and sanctions for non-compliance. The AI Act is expected to enter into force 20 days after publication in the EU Official Journal, with organizations required to comply two years after its entry into force. During the transitional period, the Commission will launch an AI Pact for developers to voluntarily commit to key obligations outlined in the Act. 3. SEC probes investment advisors use of AI - Read more The gist: The U.S. Securities and Exchange Commission (SEC) is conducting a targeted examination, or "sweep," to gather information from investment advisers on their use and oversight of artificial intelligence (AI). The SEC's examinations division has sent requests for information to multiple investment advisers, seeking details on AI-related marketing documents, algorithmic models for managing client portfolios, third-party providers, and compliance training. While the SEC's scrutiny does not imply suspicion of misconduct, it aligns with SEC Chairman Gary Gensler's expressed skepticism about the potential risks associated with the financial industry's increasing reliance on AI. The examination is part of the SEC's broader rule-making agenda, which includes proposed rules around the use of data analytics, including AI, with a focus on addressing conflicts of interest. The sweep targets specific concerns such as managing AI-related conflicts of interest, contingency plans for system failure, and the impact of AI systems on regulatory or legal issues. Despite ongoing evaluations of AI policies by many firms, the SEC's examination faces challenges due to the widespread adoption of AI technologies in the industry. 4. SEC faces fierce pushback on plan to police AI investment advice - Read more The gist: Brokers, hedge funds, and investment advisers are strongly opposing the Securities and Exchange Commission's (SEC) proposed rules on the use of artificial intelligence (AI) in providing financial advice to investors. The SEC's July proposals, known as "Reg PDA," aim to eliminate conflicts of interest involving technology when advising clients. Critics argue that existing rules on investor protection are sufficient and that the SEC's definition of "technology" is too broad. Industry groups, including Sifma and the Investment Company Institute, have called for the withdrawal of Reg PDA, citing concerns about arbitrary rulemaking. The SEC, under Chair Gary Gensler, has faced significant opposition, and critics argue that the cumulative effect of numerous rule changes is straining the industry. Consumer groups support Reg PDA, emphasizing the need for stronger investor protections in the rapidly evolving landscape of AI-driven financial advice.Other news:- Swiss to use artificial intelligence post tests for passenger countingRead more- Agencies Have Begun Implementation but Need to Complete Key requirements Read more- EU policymakers reached a political agreement on Thursday (14 December) on legislation to bring the bloc’s product liability regime in line with technological developments, notably covering digital products like software, which includes Artificial Intelligence. Read more--Join Newnex - scale your VC fund, direct and co-investments www.newnex.io

17 Dec

Venture Capital

Why is LP investing in smaller funds smart? VC fund math for you

Venture capital presents a compelling asset class characterized by the investment in companies that may initially operate at a loss but exhibit significant growth potential. The fundamental premise lies in the application of the "power law," wherein the expectation is that a select few investments within a portfolio will yield returns substantial enough to either cover the entire fund or contribute significantly to its overall performance. Notably, the efficacy of the power law tends to be more pronounced in smaller funds compared to their larger counterparts. Let's see how.In the context of venture capital, the power law concept entails that, although a typical fund comprises a diversified portfolio of approximately 20 companies, the anticipation is that each of these entities possesses the latent capacity to generate returns equivalent to, or surpassing, the entire fund's value. While this aspiration is not universally realized, it forms the basis of the investment decision-making process for venture capitalists.The distribution of successes and failures in venture capital portfolios is typically uneven. A handful of companies may deliver returns of 10%, 20%, or even 100% of the fund, while others may only recoup their initial costs or fail to do so altogether. The implications of this dynamic become more apparent when considering the size of the fund.Assuming that five companies, constituting a quarter of the portfolio, are instrumental in driving the total fund return, the challenge becomes evident. Analyzing the scenario further with basic venture capital calculations, where the average stake at exit is 6%, reveals that scaling up the fund size amplifies the difficulty of achieving proportional returns. For instance, a $100 million fund necessitates a total portfolio valuation of $3.34 billion for success, making it a more formidable task than its $50 million counterpart.Quick math:$50m fund, 6% average exit stake in companies at exit:For 2x fund return ($100m), portfolio requires aggregate $1.67bn value.For 3x the fund ($150m), portfolio requires aggregate $ 2.5bn value.$100m fund, 6% average stake in companies at exit,For 2x fund return, portfolio requires $3.34bn value.for 3x fund return, portfolio requires $5bn value.When you further take into account that approximately 5 companies have to bring all or the lion's share of the value, the challenge is higher.There are of course outliers to the above math. However, the mathematical analysis clearly underscores the relative ease of scaling smaller funds compared to their larger counterparts, emphasizing the constraint imposed by the limited pool of opportunities for substantial exits in larger funds.Having delineated the mathematical dynamics, the subsequent pivotal challenge for venture capitalists becomes securing "access to winning companies". Delving into this aspect warrants a separate exploration.---------Praveen Paranjothi is the founder CEO of Newnex. Praveen has spearheaded investments exceeding $500 million in funds, co-investments and direct investments across Europe, the US, and Asia. With an extensive background, he has contributed expertise as a member of 13+ fund boards and held roles at the European Investment Fund and Siemens Asset Management.Get access and scale VC investing with Newnex - Global VC LP, direct and co-investors network to refer, invest and fundraise at scale.

15 Dec

Startups

(Almost) Failures - the stepping stone for the next startup story

Startup investing is by definition investing in loss making companies with a hope and wish that they can scale and build a moat fast enough that the startup can become a roaring success. However, there is a thin line between taking much needed risk for innovation vs investor profligacy. Usually when easy financing is available, startups get funded for hype. We are tracking stories and lessons learned from these stories out of our own interest to both serve as a reminder and learn the lessons for the next startup story.2023Bird: Once high flying scooter startup and valued at $2.5bn files for bankrupcty under chapter-11. Bird Canada and Bird Europe are not part of the bankruptcy filing.Since inception, Bird's riders have taken 300million miles globally. Last mile-transportation continues to be a challenge.https://www.prnewswire.com/news-releases/bird-enters-into-comprehensive-restructuring-support-agreement-with-first--and-second-lien-lenders-to-strengthen-financial-position-302019823.htmlHopin - The virtual event darling, founded by Johnny Boufarhat, touched almost $8bn in valuation, and counted top-investors who never held any meaningful stake. None of the investors had a large enough share to push for critical decisions, and the pandemic fuelled growth allowed the founder to cash over $150million without giving an exit to investors.The company made some savvy acquisitions, while at the same time raising 20x times in valuation of the acquired companies. Investors threw away all investor discipline in allowing the founder cash in generation-level wealth, not owning meaningful stake, and in most cases no board seats. The whole story played during the pandemic and is one of the best beneficiaries of the pandemic boom.The in-depth Sifted take on Hopin: https://sifted.eu/articles/was-hopin-really-such-a-failureInFarm - Berlin HQed vertical farming startup raised $500m+ funding and valued at more than $1billion. Quietly disappeared in late 2022 and 2023.The company followed the startup mantra, "fake it until you make it". Sold strawberries before they were ready, generated €8m revenue on €127.8m loss in 2021. Eventually, ended up disappearing without much of a flutter. It is to be noted much of the fundraising for the startup happened during absolute boom in 2018s to 2020s.The Sifted in-depth story on InFarm: https://sifted.eu/articles/infarm-raised-500m-and-disappeared2022WeWork - valued $47 billion in 2019 filed for bankruptcy in the US in 2022. The company is one of the cases where the founder made tons of money and the investors were left holding the losses. WeWork founded by a great story teller, Adam Neumann, the company took long-term leases and rented "cool" and temporary real estate offices for companies. Startups moved-in, and some large companies as well.A lot of people had doubts about long-term leases for short-term rents. But then Masayoshi Son (Softbank) happened. His $100billion fund made deals by the gut, and Adam Neumann impressed Mr Son. Mr Neumann later fell out of favor, the company's lossses kept mounting, and Mr Neumann cashed out at many instances, including when he was ousted as the CEO. Much of the investments came from Softbank, and much of the losses were taken by Softbank. It's an incredible story, and is still playing out.If we were to describe the WeWork story: Low interest rate environment, large fund, two personalities Mr Neuman and Mr Son. This made for a great story, and possibly a yet to be made, great movie.Softbank loss: $14bn+. Mr. Son's reputation not accounted for.The timeline, dubbed one of the worst investments in history: https://www.dailymail.co.uk/news/article-12725419/SoftBank-WeWork-venture-capital-loss-bankruptcy.html---Join Newnex - scale your VC fund, direct and co-investments www.newnex.io

13 Dec

Venture Capital

Indian Startups Funded recently - Newnex Fortnight

The Indian market is on a rapid growth trajectory. In collaboration with Startup Europe India Network, we're expanding our fundraising track, Newnex Fortnight India, to India's rapidly booming venture capital ecosystem. We tracked $200 million+ in fundraising and deal making in the past weeks.Indian startup Elivaas, which oversees the management of villas and luxury apartments, has raised $2.5 million in a seed funding round led by Peak XV Partners' Surge. The funds will be utilized to expand the company's presence in key Indian cities and enhance its platform. Elivaas provides assistance to homeowners in property maintenance, booking, pricing, and promotion, while offering renters a curated travel experience. Indian electric bike manufacturer EMotorad has secured $20 million in a Series B funding round as part of its efforts to challenge China's market dominance and extend its global footprint. The three-year-old startup, which has raised over $22.5 million in total funding, saw Singapore's Panthera Growth Partners lead the latest investment round. Other participants included Alteria Capital, xto10x Technologies, and Green Frontier Capital, an existing investor. The funding also comprises $2.5 million in debt. HempStreet, an Ayurvedic cannabis startup, has secured $1 million in a pre-Series A funding round led by current investor Carl Waahlin. Additional participants in this funding round include Andre Rodrigues and a group of High NetWorth Individuals (HNIs) from South East Asia, along with Abhishek Mohan. To date, HempStreet has received a total funding of $3 million and collaborates with over 20,000 doctors throughout India. In its seed funding round, agricultural technology startup Suind has secured Rs 5 crore with Sunicon Ventures leading the investment, along with contributions from Zetta Farms and other angel investors. Suind intends to utilize the funds to expedite technological developments, improve the scalability of its AI-driven crop protection platform, and broaden its market presence in both Indian and European markets, as stated in a press release. Onedios, a platform that aggregates customer care services, has secured INR 6 Crores in a bridge round, with leading contributions from Inflection Point Ventures and VCATs. The raised funds will be utilized to bring retailers on board, enabling them to offer Branded/OEMs extended warranties instead of third-party extended warranties. Emerging from stealth mode, Sarvam AI has disclosed a funding raise of $41 million for its efforts to develop a suite of full-stack generative AI offerings. The funding, secured across both Seed and Series A financing rounds, was led by Lightspeed in the Series A round and co-led by Lightspeed and Peak XV Partners in the Seed round. Additionally, Peak XV and Khosla Ventures participated in the Series A funding. Navadhan, a rural fintech company, has disclosed that it secured $5 million in its Pre-Series A funding round, with Prime Venture Partners leading the investment. Existing investors, including Varanium NexGen Fintech Fund and Gemba Capital, also participated in the round. The additional funds will be deployed to advance the company's AceN tech platform and expand its distribution and service delivery model. Digivriddhi Technologies, a dairy fintech startup commonly known as DGV, has effectively raised $6 million in its Series A funding round, with Omidyar Network India taking the lead in the investment. Existing investors, including Omnivore and Info Edge Ventures, also demonstrated increased participation in the Series A round. ShipGlobal, a startup specializing in cross-border logistics, has successfully raised $2.5 million in a seed funding round led by early-stage venture capital firms Info Edge Ventures and Temasek. DigitalPaani, a company founded by alumni of Stanford and IIT-Delhi that is revolutionizing water management, has announced a highly oversubscribed capital raise of $1.2 million in its seed round. The funding is led by global investors such as Elemental Excelerator, marking their inaugural investment in Asia, along with Indian institutional investors Enzia, Peer Cheque, SAE, DevC, and Bharat Founders Fund. Prominent angel investors, including Ashish Goel (Urban Ladder), Alok Mittal (Indifi), Mohit Sadani (Moms Co), and Mohit Tandon (Delhivery), have also participated in this funding round. VoiceClub, an on-demand audio consultancy platform, has secured $700,000 in a seed funding round, with Better Capital leading the investment. TDV Partners, Blume Founders Fund, Sunn91, Astir Ventures, and founders of Kutumb, Dhan, PagarBook, Flobiz, Khatabook also participated in the funding round. The Sleep Company, a startup specializing in sleep solutions, has secured $22 million in a Series C funding round led by existing investors Premji Invest and Fireside Ventures. The capital raised will be utilized to broaden the range of product offerings, including the expansion of 'SmartGRID-based' products into additional categories. Notably, this funding comes just 12 months after the company's previous fundraising round in November 2022 when it raised around Rs 177 crore ($21.3 million) in a Series B round led by Premji Invest. In a Series C funding round, coffee chain firm Third Wave Coffee has secured $35 million, with homegrown private equity firm Creaegis leading the investment. WestBridge Capital, an existing investor, also took part in the funding round. Vegrow, a B2B fruits marketplace, has secured $46 million in a primary and secondary funding round led by GIC, with participation from existing investor Prosus Ventures, Matrix Partners India, Elevation Capital, and Lightspeed. The newly raised funds will be used to expand Vegrow's presence across India and enhance its global network. AllTrak, a healthcare logistics platform, has secured Rs 4.2 crore in a pre-Series A funding round led by Inflection Point Ventures. The funds raised will be allocated towards expanding the team, enhancing technology, and expanding logistics operations to multiple cities across India. Established by Amit Gupta and Tarun Sharma, AllTrak provides comprehensive solutions to diagnostic companies, encompassing a technology SaaS platform, a nationwide shared logistics network, and a phlebotomist network, facilitating healthcare companies in serving their patients. Scimplifi, a platform facilitating the sourcing and manufacturing of specialty chemicals, has secured $3.67 million in its seed funding round from 3one4 Capital and BEENEXT. The funds will be deployed to expand the core team, focusing on business, value engineering, and technology enhancements. Offside, a social app catering to cricket enthusiasts, has secured $150,000 in pre-seed funding from 100X.VC. The funds will support Offside's growth trajectory, allowing it to increase its user base to 500,000 in the upcoming months. Scandalous Foods, a one-stop-shop, has secured 1.6 crore in the ongoing pre-seed funding round, co-led by Anthill Angel Fund, EvolveX, Value360, and Sapphireink, with participation from Sagar Daryani, Kamnaa Aggarwal, Vikas Aggarwal, and Harpal Singh Sokhi. The funds will be used for product development, expanding its production unit in Nasik, automating production processes, and increasing its reach from 250 touchpoints to 2000 touchpoints within a year. PatilKaki, a startup specializing in homemade snacks, has secured a new funding round led by the angel investing network Cap70 Angels, with additional participation from serial entrepreneurs Agnelorajesh Athaide and Kailash Biyani. The funds raised will be utilized for scaling up operations, optimizing marketing strategies, and expanding sales and distribution, among other initiatives. Founded by Vinit Patil and Darshil Savla, PatilKaki provides homemade snacks and sweets, including modak, laddoos, protein foods, and namkeen special food services. Twyn, a deeptech startup focused on Phygital twin technology, has secured $1.25 million in a pre-Series A funding round led by JITO Incubation and Innovation Foundation (JIIF) and ah! Ventures. Other notable investors include HEM Angels, Bestvantage, and Beej Network. Twyn plans to utilize the funds for expansion into auto, petrochemicals, and steel hubs in the Middle East and Europe. Additionally, the startup aims to strengthen its leadership team in both India and Dubai to support its growth plans and market expansion.-------Join Newnex and scale venture capital investing. Consolidate LP, Direct and Co-investments in one place with www.newnex.io

13 Dec

Asset Management

$4tn dry powder and key-takeaways for PE from Blackrock's 2024 Private Markets Outlook

BlackRock just published 2024 Private Markets Outlook. The Newnex team has parsed the key-takeaways from the report.There is a rapidly growing perception that the next decade of value creation is happening in private markets. We've seen reports including Family Offices pushing into private investments despite the good performing public equity. This timely report throws some more light into how private markets are expected to evolve in the coming years. Long-story short, private markets are set to soar. AI will be a game-changer.To begin with, there is no one-type of "private asset". Investors have to choose among the available assets to choose what's best for them. Private markets for the purpose of this report is a) Private Equity b) Private debt c) Infrastructure d) Real Estate. Our focus below is on PE.The Key take-aways for Private Markets with a focus on PE:Broad shifts in the economy and financial markets are positioning private markets to grow.What are those broad shifts?Tightening lending standards resulting in banks reducing lending. Boom time for private debt and increasing reliability on equity financing.Companies are staying private longer, requiring a prominent place for private financing. Faster and flexible financing will drive growth.Fundraising in 2023 have been subdued, and as a result, less capital chasing investments. Hence more selective investments and good vintages.Mega forces that are reshaping the world are:digital disruption and AI (private equity)the low-carbon transition (Infrastructure)the future of finance (private debt)demographic divergence (real estate)geographical fragmentationDry-powder, Capital calls and DistributionsPrivate markets dry-powder set to touch $4tn, with the mega share with private equity ($2.5 tn).Capital calls increasing and outpacing distributionsPrivate EquityRising interest rate, inflationary pressure, geopolitical and economic uncertainty, and correction in public markets drove slower PE activity.Valuations have declined from 11.9x EBITDA (2022) to 11.2x EBITDA (2023)Public-to-private transactions increased to 21% of deal value (compared to 15% the last 5 years)Less availability of debt has increased equity contributions in deal makingQuality assets attract investments (industry leading companies, stable cash flow and return on capital)Good time to buy: Shortage of exit opportunities have left 75% of companies net cash-flow negative. Great secondary opportunity because (a) Sellers are motivated (b) Debt is hard to come by (c) innovative deal structuring including minority sales (d) corporate divestitures (e) moderated valuationsBlackRock identifies that Artificial Intelligence will be a mega force having a horizontal and profound across industries.Access the Full Report here-------Join Newnex and scale venture capital investing. Consolidate LP, Direct and Co-investments in one place with www.newnex.io

13 Dec

Venture Capital

European startups fundraised recently - Nenwex Fortnight

Newnex tracked $762m funding rounds this past 2 weeks in European Venture Capital. This is what happened in European VC fundraising. Huboo, UK-based technology firm specializing in full-stack, software-driven eCommerce fulfillment, has secured £29 million in new funding from existing investors such as Ada Ventures and Maersk Growth, as well as lenders HSBC and Blackrock. This latest capital injection brings the total funds raised by the company to £122 million as it works towards achieving profitability. Enfuce, a provider of embedded finance solutions based in Espoo, has disclosed securing €8.5 million in a new follow-on investment round. This funding follows Enfuce's €45 million Series C funding round initiated in 2021, resulting in a total raised capital of €62 million. Vitruvian Partners led the latest investment, joined by Maki.vc and Visa, a prominent global player in digital payments. Braincube, a France-based smart Industrial Internet of Things (IIoT) platform suite featuring expert and business apps for manufacturers, has revealed the completion of an €83 million growth round of funding. Scottish Equity Partners (SEP) and Bpifrance led the investment to bolster Braincube's position as a global leader in manufacturing software. Fintech company Banxware, based in Berlin and specializing in embedded lending solutions, has successfully concluded an equity round that exceeded €15 million. UniCredit and the European Open Finance pioneer, Fabrick, participated in the funding round. Additionally, Banxware's existing investors, including 13books Capital (formerly Element Ventures), VR Ventures, D4 Ventures, and Force over Mass, also contributed. This funding round creates an opportunity for Banxware and UniCredit's German bank, HypoVereinsbank, to explore a strategic partnership aimed at expanding business with SME clients in Germany and internationally.Rentman, a Dutch-based software company providing SaaS solutions for the events and media production industry, is making headlines. The company has just received a $22 million growth equity investment from Expedition Growth Capital, a private equity firm headquartered in Amsterdam, Netherlands, that focuses on investing in and supporting technology companies in their growth stage, similar to Kontent.ai. Paris-based company Wakeo has disclosed its recent funding round, securing €18 million and bringing its total funding to over €30 million. Statkraft Ventures led this round, with ongoing investments from existing backers including Promus Ventures, 360 Capital, 50 Partners, and Techstars. Lignovations, a pioneering startup in the field of lignin biomaterial innovation, has successfully concluded a new financing round of €2.2 million. This includes a minority investment from Borregaard, a global leader in lignocellulosic solutions. The investment signifies a significant advancement in Lignovations' mission to promote the growth of the biomaterial industry through sustainable, lignin-based alternatives. Additional funding comes from co-investor Valnon Holding, existing investors, and non-dilutive public grants from AWS and FFG. All shareholders share a commitment to pushing the boundaries of biomaterial innovation and reducing the environmental impact of industries globally. UP Catalyst, a pioneering Estonian company in sustainable carbon material production, has recently concluded a successful €4 million Seed investment round. The company has achieved a breakthrough by developing the world's first scalable solution for extracting graphite from CO2 gases, a critical raw material central to e-mobility, particularly as a crucial ingredient in batteries. Extantia, a Berlin-based climate tech venture capital fund, took the lead in the funding round, supported by Estonia's state fund SmartCap. Additionally, existing investors, including Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures, continued their participation in this round. Strong by Form, a leading Spanish bio-composite technology company, is delighted to announce the successful completion of its seed funding round, securing $5.2 million. The round, oversubscribed by over 25%, was led by CMPC Ventures, the corporate venture capital arm of CMPC, one of the world's largest pulp and paper producers. In addition to CMPC Ventures, the seed funding includes investments from CiRi Ventures, MAIF Avenir Ventures, Teampact Ventures, Climate Insiders, Core Angels, Savia Ventures, Family Offices, and corporate venture capitals Symbia VC, FINSA, and VX Ventures. Paris-based climatetech startup Carbon Maps, specializing in solutions for the food industry, has revealed an additional €3 million in its Pre-Seed funding round. In a prior Pre-Seed round earlier this year, the company secured €4 million from investors Breega and Samaipata. The latest addition to the funding round includes participation from Back Market and HCVC backer Daphni. Eligo Bioscience, a gene-editing company, has disclosed the successful completion of a $30 million Series B funding round, with Sanofi Ventures leading the investment. The funding, which includes contributions from new investor Bpifrance (via its InnoBio 2 fund) and existing supporters Khosla Ventures and Seventure Partners, positions Eligo Bioscience on a trajectory to transition into a clinical-stage biotech. Pimento a new French Gen AI startup that utilizes GenAI to transform creative briefs into visual mood boards, has recently secured $3.2 million in funding. The seed financing round was spearheaded by French early-stage investor Partech, recognized for its recent investments in Orus and scnd, with participation from Cygni Capital. The round also saw contributions from various angel investors, including Julien Chaumond (Hugging Face), Stanislas Polu (Dust), Thibaud Elzière (Hexa), Jean-Charles Samuelian (Alan), Igor Manceau (creative director, ex-Ubisoft), Jonathan Widawski (Maze), Alessandro Sabatelli (ex-Apple), and Nicolas Steegmann (ex-Stupeflix). Paris-based Tomorro, formerly known as Leeway, is making a significant impact in the contract management market with its collaborative and automated solution tailored for legal and operational teams. The company recently revealed that it secured €11 million in funding from Resonance, with Financière Saint James (Lydia, Spendesk), Motier Ventures (Mistral.ai, Alma), and its longstanding investors HenQ also reinvesting. Harriet , the HR AI startup, has disclosed the successful completion of a £1.2 million Pre-Seed round. Pioneering a 'full stack' solution, Harriet scans and streamlines company documentation for HR teams, and subsequently serves as a personal AI assistant for individual employees. The funding round is spearheaded by Concept Ventures and supported by Frontline Ventures, Portfolio Ventures, and Notion Capital. QuantaMap, a Dutch startup specializing in quantum technologies, has successfully raised €1.4 million in early-stage funding to enhance the manufacturing of quantum computer chips. The funding round is headed by QDNL Participations, a Dutch quantum fund supporting Quantum Delta NL and QuantWare. Additionally, the startup will receive a grant for SMEs from the Quantum Delta NL foundation, aimed at advancing technology development and scaling up production capabilities in preparation for market entry. Paris-based cybersecurity firm ProvenRun has raised €15 million in a Series A funding round, with a specific focus on enhancing security solutions for connected vehicles and smart devices. Tikehau Capital led the €15 million Series A round through its new cybersecurity-focused fund, touted as the largest of its kind dedicated to digital security in Europe. The French Ministry of Defence's Definvest fund, managed by Bpifrance, also participated in the Series A round. Farmless, an Amsterdam-based startup focusing on converting renewable energy and CO2 into carbon-negative food ingredients, has raised €4.8 million in a seed funding round. In May 2023, the company emerged from stealth mode after securing €1.2 million in a pre-seed round led by investors such as Revent, Nucleus Capital, and Possible Ventures. The recent seed round was co-led by World Fund and Vorwerk Ventures, with the participation of Revent. Semiconductor firm Pragmatic , based in Cambridge, has revealed the first closing of its Series D funding round, amounting to £162 million. The company indicates that a second closing is in progress, with £20 million already designated for key investors. M&G's Catalyst and the UK infrastructure Bank, a British state-owned entity, co-led the £162 million investment round for Pragmatic. New investors such as Northern Gritstone, Latitude, and MVolution Partners participated, alongside renewed commitments from existing investors British Patient Capital, Cambridge Innovation Capital, and Saudi VC firm Prosperity7 Ventures. Klarytee, a startup based in the UK, has completed a pre-seed funding round, securing £700,000 in support. The startup's software platform seamlessly integrates security into data processes, specifically designed for large organizations handling sensitive information. Concept Ventures, an early-stage VC fund, played a key role in backing Klarytee in this funding round. Noteworthy angel investors contributing to the round include Michael Coates, former CISO of Twitter, Evelyn Bourke, former Group CEO of Bupa, the founders of Digital Shadows, Brad Cable, former Managing Director of Accenture, and Desigan Chinniah, Board Member of The Tor Project. HomeCooks, the inaugural marketplace for independent food creators in the UK, has secured $3.1 million in a Seed round to support its expansion across the country. The funding round was spearheaded by Speedinvest, with contributions from DFF (including Lauren Groenendijk, the founder of Just Eat), Love Ventures, Rianta, and various prominent UK angels associated with the Ventures Together Consortium. Finexos, a London-based AI-driven SaaS solution focusing on credit and affordability risk analytics, has successfully secured a £690,000 seed round. The funding was led by UK-based Growth Capital Ventures (GCV), with participation from the data-driven angel fund SyndicateRoom, as well as existing angel and VC investors. This oversubscribed round is poised to expedite the company's go-to-market strategy. Cradle , a startup at the intersection of biotech and AI, is experiencing notable achievements with its innovative approach to protein design, attracting major clients and securing a substantial $24 million in new investment. This funding comes on the heels of a $5.5 million seed round last year. The latest A round was spearheaded by previous investor Index Ventures, with participation from Kindred Capital, another initial seed investor, as well as individual backers including Chris Gibson, Tom Glocer, and others. Scotland-based pharmaceutical device developer 1nhaler has secured £2 million in funding to advance its distinctive single-use dry powder inhaler (DPI). The investment was spearheaded by Archangels, a supporter of Cytomos and Bioliberty, and received backing from Dr. Yusuf Hamied, British Business Investments (BBI), and initial seed investors. WeRoad, a travel technology scaleup headquartered in Milan, has successfully raised €18 million in a Series B funding round led by H14. This round, which includes participation from a consortium of investors, brings the total funds raised by WeRoad to €36 million. QuantumDiamonds, a quantum sensing company, has secured €7 million in Seed funding with IQ Capital and Earlybird leading the investment. A consortium comprising IQ Capital, Earlybird, Onsight Ventures, First Momentum, Creator Fund, UnternehmerTUM, and several angel investors from the semiconductor industry have collectively invested €3 million. Additionally, the European Innovation Council (EIC) Accelerator and the Bavarian state are contributing €4 million in grant funding. Lassie, the pioneer in preventive pet insurance, has successfully secured €23 million in Series B funding. The funding round is led by Balderton Capital, with participation from previous investors including Felix Capital, Inventure, Passion Capital, and Philian. This latest round brings Lassie's total funding to €36.5 million. PhysicsX, a deep-tech startup headquartered in London, specializing in the development of artificial intelligence for engineering applications, has successfully raised $32 million in a Series A funding round. General Catalyst led the investment, with participation from notable contributors including Standard Industries, NGP Energy, Radius Capital, and Henry Kravis, co-founder and co-executive chairman of KKR. Hololight, an Austrian startup focused on extended reality (XR) solutions for enterprise applications, has revealed the acquisition of an additional $12 million in funding. This financing is intended to expedite the advancement of its XR streaming platform, Hololight Hub. The funding round is spearheaded by Flatz Hoffmann, a European growth equity investor, along with continued support from existing investors EnBW New Ventures, Bayern Kapital, and Future Energy Ventures. LegalFly, a legaltech startup based in Belgium, has recently concluded its Seed funding round, securing over €2 million. The round was spearheaded by Redalpine, with Mehdi Ghissassi, Director of Product at Google DeepMind, also contributing. Ghissassi's involvement highlights the confidence of the artificial intelligence industry in LegalFly's mission. Cloudsmith, a software supply chain management firm based in Belfast, has disclosed $11 million in Series A2 financing. The funding round is spearheaded by MMC Ventures, and with this investment, the total funding raised by the company reaches $28.9 million. ZeroAvia, a company dedicated to clean aviation solutions, has successfully concluded its Series C funding round, securing a total of $116 million. The investment was contributed by Breakthrough Energy Ventures, Horizons Ventures, Alaska Airlines, Ecosystem Integrity Fund, Summa Equity, AP Ventures, and the Amazon Climate Pledge Fund. The UK Infrastructure Bank has also joined as a cornerstone-level investor, alongside co-leads Airbus, Barclays Sustainable Impact Capital, and NEOM Investment Fund (NIF). Modo Energy, headquartered in London and specializing in data analytics for renewable energy assets, has secured $15 million in Series A funding. The funding round, which was led by MMC Ventures, renowned for investments in TreasurySpring and Qflow, also saw participation from existing investors Triple Point Ventures, Fred Olsen Limited, and Catalyst Capital. Unchained Robotics, a German startup aiming to democratize plug-and-play robotics in the industrial sector, has raised €5.5 million in its latest funding round. This brings the total funding for the company to €7.7 million. The round was led by Future Industry Ventures, a collaboration between SBI Holdings and Redstone. Other contributors include Teklas Ventures, vent.io, and existing investors BORN2GROW, Archimedes New Ventures, the OWL technology fund managed by EnjoyVenture, and various business angels such as Christian Hülsewig (Schüttflix), Marek Lehmann, Eike Klein (both u+i ventures), and Reinhard Rabenstein. Evidose, headquartered in Warsaw, has successfully raised $500,000 in funding from Inovo VC and 500 Emerging Europe. The company specializes in organizing decentralized efficacy trials for dietary supplements and wellness products. Envirly, a tech company based in Lublin and experiencing rapid growth, has disclosed a €1.3 million seed round. Key investors in this funding round include BNP Paribas Bank Poland, Tangent Line Ventures investment fund, along with the continued support of previous investor Aligo VC and contributions from four Business Angels. Notably, this seed investment is among the largest in ESG compliance products in Central and Eastern Europe. HULO.ai, a Dutch startup focused on developing advanced AI algorithms to address water loss, has raised €800,000 in a recent funding round. The investment comes from LUMO Labs and the Netherlands Enabling Water Technology (NEW) Fund. Cytidel, an Irish cybersecurity startup, has secured €1.3 million in funding as it aims to expand its product offerings and increase its workforce. Elkstone Ventures led the seed funding round, with participation from Enterprise Ireland. ----Join Newnex and scale venture capital investing. LP, Direct and Co-investments in one place - www.newnex.io

12 Dec

Artificial Intelligence

Last week in Artificial Intelligence (AI)

Artificial Intelligence is scaling to have one of the most profound impacts on humanity. We are starting a new series to track AI developments every week. Our series will provide a snapshot on the main events of this past week in AI:AI news:Google launched Gemini, its long-awaited answer to ChatGPT - Read moreGoogle has already admitted at least one demo wasn't real - Read hereEU agrees landmark rules on regulating AI - Read moreFrench AI startup Mistral AI raises €400m funding and reaches €2bn valuation in 8-months. New joinees include Nvidia, A16z - Read moreAMD launched AMD MI300x chip, its most advanced AI accelerator in the industry. AMD claims its product outperformed Nvidia's H100s. Nvidia is working on H200 but the market potential is huge for AMD to have a good play. Read moreAI innovation grand challenge launched in COP28 to identify and support the development of AI-powered solutions for climate action in developing countries - Read moreBlackrock to rollout generative AI tools to its clients in January. Blackrock manages over $9trillion in assets. - Read moreThe AI debate:NY times delves into what happened in OpenAI that ended in firing and rehiring of Sam Altman. NY times writes "as Mr. Altman raised OpenAI’s profile, some board members worried that ChatGPT’s success was antithetical to creating safe A.I.," - Read moreHow AI ate the Internet this year - NewYorker - Read moreBitcoin and AI is leading in a new era of digital innovation, as highlighted by the integration of AI with Bitcoin's Lightning Network - Read moreThe race to dominate AI - Read more----Join Newnex - scale your investments and co-investments www.newnex.io

10 Dec

Artificial Intelligence

EU adopts historic AI regulation

EU becomes the first to adopt AI Act to regulate AI.The AI Act is a landmark regulation that aims to ensure that AI systems placed on the EU market are safe and respect fundamental rights.The regulation will be based on a risk-based approach.High-risk AI systems will be subject to a strict set of requirements.Banned AI practices will be prohibited.There will be a new governance architecture with an AI Office at the EU level.Penalties for violations of the AI Act will be significant.There will be measures in support of innovation.Rules have been agreed for foundation models, large systems capable to competently perform a wide range of distinctive tasks, such as generating video, text, images, conversing in lateral language, computing, or generating computer code.Following the new rules on GPAI models and the obvious need for their enforcement at EU level, an AI Office within the Commission is set up tasked to oversee these most advanced AI models, contribute to fostering standards and testing practices, and enforce the common rules in all member states. A scientific panel of independent experts will advise the AI Office about GPAI models, by contributing to the development of methodologies for evaluating the capabilities of foundation models, advising on the designation and the emergence of high impact foundation models, and monitoring possible material safety risks related to foundation models.The provisional agreement provides for a fundamental rights impact assessment before a high-risk AI system is put in the market by its deployers.The AI Act will apply two years after its entry into force.Industry's thoughts?In FT:"Cecilia Bonefeld-Dahl, director-general for DigitalEurope, which represents the continent’s technology sector, said: “We have a deal, but at what cost? We fully supported a risk-based approach based on the uses of AI, not the technology itself, but the last-minute attempt to regulate foundation models has turned this on its head.""France’s Airbus and Germany’s Siemens, said the rules as constituted were too tough to nurture innovation and help local industries"Access now has some interesting points:https://www.accessnow.org/press-release/historic-vote-in-the-european-parliament-dangerous-ai-surveillance-banned-but-not-for-migrant-people-at-the-borders/Information sources:https://www.consilium.europa.eu/en/press/press-releases/2023/12/09/artificial-intelligence-act-council-and-parliament-strike-a-deal-on-the-first-worldwide-rules-for-ai/https://www.ft.com/content/d5bec462-d948-4437-aab1-e6505031a303

09 Dec

Startups

Startups Funded Newnex News

London-based fintech startup TRIVER, which offers small businesses instant access to capital, has announced securing an additional €22.90 million in funding from Luxembourg's Avellinia Capital. Before this round, TRIVER had raised  €7.95 million in a recent funding round led by investors including Stride VC, Andreessen Horowitz, Axeleo Capital, Motive Partners, and Sequoia Capital. Circularity Capital has spearheaded a €40 million growth capital round in the Swedish firm Matsmart-Motatos, a direct-to-consumer (D2C) e-commerce retailer specializing in overstock dry foods and consumer products. The funding received additional backing from existing shareholders. Several of Matsmart-Motatos' current investors, including SevenVentures (the investment arm of ProSiebenSat.1), participated in the growth capital round alongside Circularity Capital. Finnish company Solar Foods has successfully concluded its Series B funding round, securing €8 million from retail investors in Finland. Solar Foods has developed a proprietary microbe that utilizes carbon dioxide (CO2) and hydrogen to produce a high-protein food ingredient called Solein. The funding round, facilitated by the Finnish investment organizer Springvest Oyj, involved participation from VTT Ventures and Fazer. Mental health platform Salus has successfully concluded a Seed investment round, securing $4.7 million and bringing its total fundraising to over $5.5 million since its inception. The oversubscribed round was led by Northzone, with participation from 500 Emerging Europe, Pitchdrive, and the CVC arm of İş Bank. Existing investors Collective Spark and Wamda Capital also made double-down investments, alongside angel investors such as Fırat İleri (Hummingbird Ventures), Adam Anders (Anterra Capital), İnanç Balcı (Crestone VC & Lazada), Egem Eraslan (Midas), Can Yücaoğlu (MAP Investment), Mehmet Yılmaz (Freeletics & Zavvy), Joshua Cornelius (Freeletics & Zavvy), and Kıvanç Semen (Dataguard). VivArt-X, headquartered in Eindhoven, has raised €660,000 in a pre-seed funding round to advance the development of its biodegradable biomaterial designed to enhance the lives of women post breast-conserving surgery. The funding was provided by Brabant Startup Fonds, the Brabant Development Agency (BOM), TU/e Participations, and several individual investors. Eliq, the Swedish software company, has successfully raised €10 million in a growth round. The funding round witnessed the continued support of existing investor Inven Capital, and the addition of new investors Axpo Group and Valkea. SeeChange Technologies, a visual AI company, has announced the completion of its £8 million Series A funding round. The funding is spearheaded by TriplePoint, with the involvement of new investors like Runa Capital and True Capital, along with the continued support of original investor Crane Venture Partners. RED Horticulture, a dynamic lighting company, has successfully concluded a €17 million Series A funding round, with leadership from the European Circular Bioeconomy Fund (ECBF), alongside Demeter IM and Unigrains. London-based Doccla, a virtual hospital technology provider, revealed on Tuesday that it has secured €5 million in funding from Bertelsmann Investments, the global venture capital arm of Bertelsmann Corporation. The funding, structured as a convertible loan, is earmarked for Doccla’s European expansion, with a specific focus on Germany identified as a priority market for the next phase of its growth. Notable investors in Doccla include General Catalyst, KHP Ventures (a collaboration involving King’s College London, King’s College Hospital NHS Foundation Trust, and Guy’s and St Thomas’ NHS Foundation Trust), Giant Ventures, and Speedinvest. Magic ID, a London-based platform that fosters trust between businesses and individuals without prior acquaintance, has successfully raised €350,000 in a pre-seed funding round. The funding was led by SFC Capital and Presto Ventures, with €175,000 invested by SFC Capital, €120,000 from Presto Ventures, and €55,000 from undisclosed angel investors. Advanced Electric Machines (AEM), a company based in England that focuses on designing and manufacturing next-generation sustainable electric motors and powertrain systems, has disclosed the successful completion of a €26.3 million Series A funding round. The round was led by Legal & General Capital and Barclays Sustainable Impact Capital, with substantial additional investment from Par Equity. Other participants in the funding round included Northstar Ventures, the Low Carbon Innovation Fund 2, and Turquoise Capital LLP. Texray, a company based in Gothenburg, Sweden, specializing in radiation protection textiles, has revealed the successful raising of approximately €3.9 million in a funding round. The round was led by Industrifonden and received support from private investors at Impilo. Newheat, a renewable heat supplier based in Bordeaux, France, has disclosed the successful securing of €30 million in funding, with SWEN Capital Partners leading the investment through its SWIFT 2 (SWEN Impact Fund for Transition 2) strategy. The funding round also saw continued support from Newheat's longstanding partners, including Noria, Bpifrance via its France Investissement Energie Environnement (FIEE) sector fund, the Etchart group, and the Holdheat holding company. Linio Biotech, a biotech company founded in Finland by women, has secured a €4.2 million investment, bringing the total funding raised by the company to over €9 million. Alongside previous support from family offices and private investors, Linio Biotech has attracted new Finnish private investors and doctors with industry expertise. Earlier in the year, the company received a grant of almost €1 million from Business Finland to advance the development of its product. Generative Engineering, a software company based in London, has secured €4 million in pre-seed funding. The funding round was led by EQT Ventures, notable for its investments in Kota and Qevlar AI, with participation from Join Capital. Samudra Oceans, a robotics startup based in London, has received a £150,000 investment from the British Design Fund as part of an £800,000 pre-seed funding round. The investment will be utilized to create additional prototypes and expand their deployment to more regions, as the company focuses on establishing a global use case for its model. Vizcab, a Lyon-based SaaS platform, has secured €5 million in Series A funding. The funding round was spearheaded by KOMPAS VC, an early-stage venture capital firm specializing in the decarbonization of the built environment and manufacturing industry, known for supporting ventures like Material Evolution and Prewave. Additional participation came from Rise PropTech Fund, Cemex Ventures, and Altur Investissement. Notably, existing investors A/O and Banque des Territoires (Groupe Caisse des Dépôts) also joined in the funding round. Reboxed, a sustainable tech startup based in London and certified as a B-Corp, has successfully raised £1.6 million in seed funding. The investment round was led by ACF Investors, notable for supporting ventures like OneID and Wayland Additive. The capital will be utilized to fuel growth and enhance Reboxed's retail partner programs and its Reboxed for business service. Notably, Reboxed had previously received backing from influencers such as Ali-A, renowned YouTuber with over 20 million subscribers, former founders of Mazuma and Envirophone, Martin McCourt, former CEO of Dyson, and Nick Beighton, former CEO of ASOS, along with the Ministry of Sound group. Biomel a plant-based gut health brand, has secured a £5.5 million investment from IRIS Ventures. Established in 2017, the company is a leading player in the UK market for plant-based gut health and manufactures a variety of drinks, snack bars, and powders at its production facility in West London. Callyope, an AI-based mental health monitoring company, has revealed a €2.2 million equity funding round. The company is developing a speech-based remote patient monitoring platform designed for individuals coping with schizophrenia, major depression, and bipolar disorders. The funding is jointly led by 360 Capital and BPI Digital Venture, with participation from No Label Ventures and business angels including Thomas Clozel (Co-founder and CEO of Owkin) and Adrien Montfort (Co-founder & CTO of Sorare). HumanForest, the parent company of e-bike operator Forest, has secured a £5 million extension to its Series A funding round, bringing the total for the Series A round to £17 million. This additional funding follows an initial investment of £12 million in April of this year. The equity investment includes contributions from Güil Mobility Ventures, Fen Ventures, several Cabify executives, and sustainable finance specialist Triodos Bank UK. Phare Health, a London-based startup, has raised around €2.87 million in a seed funding round led by General Catalyst. The round also saw support from KHP Ventures and Bertelsmann Investments, offering strategic backing with their industry knowledge, expansive European networks, and healthcare resources. ID Finance, based in Barcelona and asserting itself as a prominent fintech in Spain and Mexico, has revealed a funding success of €12 million through a strategic arrangement with an undisclosed European bank. Planet Farms, based in Milan, has announced the successful raising of $40 million in funding. While specific investors for this recent round were not disclosed, the company has a history of backing from Milan’s SACE, UniCredit Group, and Red Circle Investment. European Energy, based in Denmark, has entered into a partnership with two Scandinavian banks, SEB and DNB, to secure a Green Portfolio Financing Facility of €150 million. This five-year funding initiative is designed to accelerate the execution of renewable energy projects, with a particular focus on solar and wind energy, spanning 10 Northern European countries. Open Cosmos, the exclusive provider of comprehensive satellite mission management in the UK, has received a £5 million project from the UK government's Space Clusters and Infrastructure Fund (SCIF). This comes after the company secured a $50 million Series B funding in September this year, marking the largest funding round raised by a UK space tech company this year. Berlin-based biotech startup Quazy Foods, has successfully secured over €800,000 in a pre-seed funding round. The round saw participation from ProVeg International, a global NGO supporting startups contributing to food system change, Antler, a highly active private early-stage investor in Europe, and Sprout and About Ventures, a family office focused on impact investment. Relay, headquartered in London, is a technology-enabled delivery network that empowers businesses to enhance and expand their e-commerce operations. The company has recently secured $10 million in a seed financing round, with leading contributions from European early-stage VC Project A Ventures, known for investments in Knowunity and Quantum Systems, as well as Prologis Ventures, the corporate venture capital group of Prologis. Indy, a Lyon-based startup that specializes in automating accounting and tax returns for self-employed professionals and entrepreneurs, has disclosed securing €40 million in funding from BlackFin Capital Partners, along with La Maison and iXO. This recent funding round has elevated the total raised funds to €86 million. LAYCO, a startup based in Amsterdam that offers affordable, high-quality medical equipment, has secured a convertible loan of €300,000 from the North Holland Innovation Fund (INH). The INH, backed by the Province of North Holland, University of Amsterdam, Vrije Universiteit, Amsterdam University of Applied Sciences, Amsterdam UMC, and Sanquin, focuses on supporting companies in the 'Proof-of-Concept' phase, providing loans to prove new ideas and concepts. The INH manages two funds, one for innovative startups supported by RVO and another for academic startups supported by the European Regional Development Fund (ERDF). CityLegends, a community platform for urban athletes and artists based in Eindhoven, has successfully secured €1 million in a seed funding round from a syndicate of investors. The investor lineup comprises LeanSquare, LUMO Labs, imec.istart, Dutch Sport Tech Fund, and industry expert and angel investor Matthieu de Clercq. Aptus.AI, an Italian startup specializing in machine-readable documentation, has revealed €3 million in Pre-Series A funding. The company has made significant strides by securing clients such as Intesa Sanpaolo, Generali Investments, and MPS, and is concurrently launching pilot projects with notable industry players. VC P101 leads the investment round, with participation from business angels and Fin+Tech, the accelerator of CDP Venture Capital, which is building on its involvement in a prior €1.2 million Seed investment round. Floy, an AI company based in Munich that enhances radiologists' diagnostic capabilities, has successfully concluded a Seed funding round, securing €5.4 million. The funding is led by HV Capital, with participation from All Iron Ventures, and ongoing support from existing investors like 10xFounders, xdeck ventures, SB21, and reputable angel investors. With this latest round, Floy has raised a total of €8.8 million since its establishment in the summer of 2021. 

28 Nov

Startups

European Startups funded recently - Newnex Weekly!

Newnex has tracked $632m funding rounds this past week in European Venture Capital. London-based Fnality, a pioneer in developing wholesale payment systems based on Distributed Ledger Technology (DLT), has announced the successful completion of a €89 million Series B funding round. This funding was led by Goldman Sachs and BNP Paribas, with the participation of DTCC, Euroclear, Nomura, and WisdomTree. Noteworthy additional investments came from Series A investors Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumitomo Mitsui Banking Corporation, and UBS.  Cambridge-headquartered nanomedicine firm ViaNautis has secured $25 million in its Series A funding round. The funding was spearheaded by 4BIO Capital, BGF (known for supporting Kooth and Machine Discovery), and UCB Ventures, with contributions from the Cystic Fibrosis Foundation, Eli Lilly and Company, and existing investors such as Origin Capital, Meltwind, and O2H. Solvimon, a platform provider for billing based in Utrecht, has disclosed a seed funding of €9 million. Northzone and chosen business angels contributed to the funding. The seed round will be utilized to grow the team and expedite its go-to-market strategy. French logistics tech startup Stockoss has secured $4.3 million in seed funding, with Pi Labs, a London-based VC that recently supported Responsibly and Kamma, leading the round. Other participants in the funding round include Global Brain, 50Partners, Hartwood, and Kima Ventures. Paris-based fintech company Defacto, specializing in embedded B2B lending solutions, has raised an additional €10 million in a Series A funding round extension. Citi Ventures, a new investor, joined existing backers Northzone, Headline, and Global Founders Capital. Le Fourgon, a French startup focused on returnables, has revealed a Series A funding of €10 million.The funding comes from key investors Id4 and Teampact, along with La Poste Ventures fund—initiated by La Poste and managed by XAnge—and several business angels. French legal AI firm Jimini AI has successfully concluded a €1.9 million seed funding round to expedite its expansion. Established in 2023 through Entrepreneur First, which is its initial investor, Jimini AI is presently introducing its solution in closed beta within various prominent European pilot firms. Polytechnique Ventures took the lead in the fundraising, joined by J12 Ventures, Galion.exe, Evolem, Zebox Ventures, and Better Angle. Jimini AI also benefits from the expertise of around fifteen well-known investors, including Thomas Wolf (Hugging Face), Pierre Aïdan and Timothée Rambaud (Legalstart), Didier Kuhn, Rémi Aubert (AB Tasty), and the founding team of Leeway. Aikido Security, a Ghent-based company specializing in developer-friendly software security solutions, has disclosed a $ 5.4 million funding in its Seed round. The Seed round, totaling €5 million, was co-led by Notion Capital and Connect Ventures. In addition to this, Inovia Capital’s Precede Fund and angel investor Christina Cacioppo, CEO of Vanta, also participated in the funding. Dutch revenue-based finance marketplace Levenue has secured €8 million in a Series A funding round and completed the acquisition of Belgian fintech Cake. The Series A funding round, supporting Levenue's operations in 12 European countries, was led by Truffle Capital, with participation from Freshmen Fund. Resistomap, a startup focused on monitoring antibiotic resistance, has revealed a successful $ 2.2 million seed funding round. The funding was spearheaded by European VC firm Ananda Impact Venture, with participation from Gaingel and support from a Business Finland R&D grant. London-based Bloom, a coaching app to democratize access to coaching, has officially launched in the UK and the US after completing a seed funding round that secured $10 million. The mobile-first app had previously received funding from investors, including Octopus Ventures and MMC Ventures. Naïf, a B-corp located in South Holland that produces skin-friendly care products for babies and parents, has disclosed securing €23 million from the European impact investor Future Business Partnership (FBP). BASH, an Amsterdam-based startup specializing in party discovery through its app, has announced the successful raising of €750,000 in a recent funding round. The investment was contributed by existing backers, including Sjuul Berden (founder of United Wardrobe) and Leon Ramakers (former director of Mojo). Additionally, new investors such as Quinten Selhorst (founder of Felyx), Bastiaan de Rakt (founder of Enjins, Deeploy), Neil Currie, and Gijsbert de Regt (founders of eVision), along with Geert-Jan Smits (founder of Flinders), have joined the round. Financial services organization Macquarie Asset Management (MAM) has pledged to invest up to €175 million in Amsterdam's SkyNRG through the Macquarie GIG Energy Transition Solutions (MGETS) Fund. This investment is aimed at supporting the expansion of Sustainable Aviation Fuels (SAF). MAM's Green Investments team will spearhead a new investment initiative to support SkyNRG's growth and its ambition to become a significant producer of Sustainable Aviation Fuels (SAF). Glox Therapeutics, headquartered in Glasgow, has successfully raised £4.3 million in a seed funding round. The funding round was spearheaded by Boehringer Ingelheim Venture Fund (BIVF) and Scottish Enterprise. Berlin-based AI company IQONIC.AI (formerly known as SQIN) has disclosed the successful closure of a seven-figure seed financing round. The funding round was backed by investors including Brandenburg Kapital, YZR Capital, and Arve Capital, as well as the continued participation of existing investors such as Accel, APX (an early-stage investor supported by Axel Springer and Porsche), Thomas Hayo, Michael Schummert, and Jens Apermann. Factory tech startup Sensoteq, based in Belfast, has secured £3.1 million in funding, with Pockit-backing Maven Capital Partners leading the round. The funding includes a £600,000 investment from TechStart Ventures. French cybersecurity startup Qevlar AI has raised €4.5 million in seed funding, with EQT Ventures, known for its recent investment in Kota, leading the round. The funding round also witnessed participation from notable figures in the tech and AI industry, including Olivier Pomel (CEO of Datadog), Mehdi Ghissassi (Director of Product at Google DeepMind), Florian Douetteau (CEO of Dataiku), Edouard Viot (VP Product of GitGuardian), and Tarik Dadi (CEO of Qantev). The fresh funds will help Qevlar AI to continue to grow its team and further invest in the product to continue to be one step ahead of cybercrime.   Turin-based climatetech startup CarpeCarbon has secured €1.7 million in a Pre-Seed funding round. The funding, totaling €1.765 million, was contributed by CDP Venture Capital's Tech4Planet initiative and 360 Capital. Other investors in the round include the Club Degli Investitori network and the PiemonteNext co-investment fund. Barcelona-based hosptech startup Last.app, founded by former Glovo team members Eric and Ivan Nikolic, has successfully raised €5 million in a recent financing round. Led by Nauta Capital and featuring participation from existing investors All Iron and Bynd, the restaurant management platform plans to utilize the growth capital for ongoing product development, team expansion, and strategic entries into new markets. Crisp, the Amsterdam-based grocery app that prioritizes seasonal and local food, has concluded a funding round of €35 million. The funding was provided by a mix of existing and new investors, including prominent Dutch entrepreneurs and family funds. Key supporters in this round include notable market operators such as Adriaan Mol (Mollie, Messagebird), John Caspers (Adyen), Sanne Manders (Flexport), Thomas Plantenga (Vinted), and experienced retail executives like Sander van der Laan (Ahold, Action, Douglas). Family offices such as Bookmakers Investments, Timeless Investments, and Strikwerda Investments are also among the backers, along with venture capital firms Keen Ventures and Target Global, which are participating once again in this round. Efenco, a Tallinn-based startup that transitioned from deeptech to cleantech, has secured €4.5 million to advance its "fire on turbocharge" technology. The funding includes €1.3 million led by Ivo Remmelg for EstBAN Syndicate and €3.2 million in grant funding from the European Innovation Council and Estonia's Archimedes Foundation. Biotech company VectorY Therapeutics, headquartered in Amsterdam, has revealed the successful completion of a €129 million Series A funding round. The round was co-led by EQT Life Sciences and the Forbion Growth Opportunities Fund. The financing saw participation from both new and existing investors, including MRL Ventures Fund (a corporate venture arm of Merck & Co., Inc.), Rahway, NJ USA, Insight Partners, ALS Investment Fund, Forbion Ventures, BioGeneration Ventures (BGV), and another established investor. Artisan, an AI startup, has disclosed a $2.3 million fundraising effort to develop the inaugural human-like digital workers. The company is set to join the Y Combinators Winter 2024 batch commencing in January. Contributors to the Pre-Seed round include Bayhouse Capital and Oliver Jung. Payment processing technology startup Silverflow, headquartered in Amsterdam, has secured €15 million in a recent funding round. The funding was led by Global Paytech Ventures and saw participation from Picus Capital, Coatue, Crane Venture Partners, Inkef, along with contributions from several angel investors. RespiQ, a Dutch healthtech startup founded by two female entrepreneurs, has been granted €4 million from the European Innovation Council (EIC), which recently invested in Efenco and Hardt Hyperloop. Over the next three and a half years, RespiQ will receive the grant in collaboration with an esteemed international consortium, which includes renowned academic institutions and medical research organizations such as the King's Centre for Lung Health, the School of Immunology and Microbial Sciences at King's College London, the National eHealth Living Lab within the Leiden University Medical Centre (LUMC), the Norwegian research organization Sintef, and the Portuguese technical consulting and research company, uRoboptics. Vienna-based Atlas, a 3D generative AI platform, has emerged from stealth mode with $6 million in funding. The funding comprises two rounds – a $4.5 million round led by 6th Man Ventures (6MV) and a $1.5 million round led by Collab+Currency. Other participants in the investment round include a16z Scouting Fund via Shrapnel, Contango, Gaingels, GFR Fund, New Renaissance Ventures, Square Enix, and Wagmi Ventures. Additional participants consist of Flamingo DAO, Founders Inc., Landvault, Monaverse, Neon DAO, and Slope Fund. Strategic advisors and angel investors supporting Atlas include Timmu Tõke (CEO & Co-Founder, Ready Player Me), Abel Mathew (Former CEO & Co-Founder, Backtrace, Former CTO Sauce Labs), and Geoff Renaud (CMO & Co-Founder, Invisible North). Munich-based startup Proxima Fusion, dedicated to the development of emission-free fusion power plants, has successfully raised €7.5 million in an extension to its pre-seed funding round. The round was led by deep tech investors Plural Platform and UVC Partners, with additional participation from new investors such as Visionaries Tomorrow, Hummingbird Collective, Achleitner Ventures, Bosch Holding, FlixFounders fund, and a group of angel investors. --- Newnex is the Digital-led Venture Capital platform. Get access to www.newnex.io Startups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

21 Nov

Startups

European Startups Funded recently - Newnex Weekly

European Startups funded recently - Newnex Weekly15 November 2023Newnex tracked $480m funding rounds this past week in European Venture Capital. Skytree, headquartered in Amsterdam and dedicated to advancing innovative solutions for CO2 capture and re-utilization, has received €2.5 million in non-dilutive grant funding from the European Innovation Council (EIC) Accelerator. Qomodo, an all-in-one payment methods aggregator based in Milan, has successfully raised €34.5 million in a Pre-Seed funding round. The company, which provides a range of payment solutions to both consumers and brick-and-mortar retailers, including Buy Now, Pay Later (BNPL) options, positions itself as a supportive resource for the latter. Qomodo’s €34.5 million Pre-Seed funding round was led by Fasanara Capital and saw co-investments placed by Notion Capital, The Agnelli family’s Exor Ventures, Proximity Capital, and others including Ithaca Investment, Lumen Ventures, The Techshop, Primo Ventures – along with the early-phase programs of Notion Capital, Octopus Ventures, and Plug&Play.  Frenetic, a trailblazer in custom magnetics technology, has disclosed an €11.2 million Series A funding round led by Kibo Ventures. The round also saw continued support from existing investors, including 42Cap, Join Capital, Bankinter, Bonsai, and Big Sur. Vienna-based marketplace for refurbished electronics, Refurbed has closed a $57 million Series C funding round. Refurbed's Series C funding round was led by Evli Growth Partners and C4 Group, with participation from All Iron Venture and Speedinvest. ShippyPro, the all-in-one shipping management software based in Florence, has disclosed the successful securing of $15 million in a Series B funding round from Five Elms Capital. As a growth investor, Five Elms Capital specializes in providing capital and resources to facilitate the accelerated growth of companies, solidifying their positions as industry leaders. With offices in North America and Europe, Five Elms focuses on investing in top software platforms globally. Copenhagen-based biotech startup, Octarine Bio, specializing in the development of new colors and sustainable dyeing technologies, has secured €4.35 million in a recent funding round. Unconventional Ventures, along with Óskare Capital and The Footprint Firm, led the €4.35 million funding round, with participation from dsm-firmenich Venturing. SpinDrive, headquartered in Lappeenranta, Finland, and specializing in active magnetic bearings (AMBs), has disclosed the successful securing of €3.8 million in a Series A funding round. The leading position in the round is held by Rhapsody Venture Partners based in the United States, accompanied by the participation of existing investors Innovestor and Born2Grow. RAIKU, headquartered in Tallinn and specializing in environmentally friendly packaging alternatives, has revealed the acquisition of a €5.65 million grant and equity investment from the European Innovation Council (EIC), accompanied by an additional €3.15 million from private sector investors. The EIC Accelerator, designed to support deep tech companies in seed and growth stages that may not be immediately suitable for private funding, operates by blending public grants with long-term equity investment, aspiring to become Europe's primary early-stage deep technology investor. Krakow-based LiveKid, a platform for managing preschools and nurseries, along with a parent-to-kindergarten contact app, has secured €3.14 million in a recent funding round. Already employed by approximately 3,500 kindergartens and trusted by 400,000 parents across Europe, LiveKid plans to utilize the investment to extend its presence into the Latin American market. The €3.14 million investment comes from Inovo VC, a longstanding supporter of the edtech platform Preply. CAST AI , a Kubernetes cost optimization platform with headquarters in Miami and Vilnius, concludes a successful $35 million Series B funding round. Vintage Investment Partners led the round, along with participation from existing investors Creandum and Uncorrelated Ventures. This follows a $20 million investment round led by Creandum in March, bringing the total funding raised by the company to $73 million. London-based Ooodles, a transparent and flexible asset management platform, has secured $12 million in a fresh round of funding. The investment was led by Paris-based asset manager, Smart Lenders Asset Management (SLAM). Eilla AI, a generative AI platform for financial decision-making in private markets, has disclosed a successful $1.5 million Seed funding round. Eleven Ventures led the funding, with backing from Fuel Ventures. Mark Pearson, the Founder & Managing Partner at Fuel Ventures, also provided additional investment individually. French milktech startup Numi, formerly MUMilk, raised €3 million in Seed funding. The seed funding is raised from a range of investors, including Heartcore Capital, HCVC, Financière Saint James Kima Ventures and Kost Capital. Healthtech startup Doctorly, based in Berlin, has revealed a $7.2 million extension to its Series A funding round, bringing the total Series A funding to $17.2 million This extension builds upon the initial $10 million announced in February 2023. The funding round was led by Simon Capital, based in Dusseldorf, a VC fund supported by, among others, the entrepreneurial family associated with the Bitburger Group. Additional investors in this round include Geschwister Oetker Beteiligungen KG, UNIQA ventures, and various family offices with a focus on healthcare innovation in Germany and Asia. Fyma, an AI startup based in London that analyzes real-time video feeds, has secured $2.1 million in a funding round. Quadri Ventures and Second Century Ventures led the investment round. Technique Solaire, a French company involved in distributing photovoltaic energy for individuals and businesses, has secured €200 million in a recent funding round. The investment, contributed by existing supporters Bpifrance and Groupe Crédit Agricole, is intended to facilitate the 15-year-old company in scaling its operations, boosting research and development initiatives, and expanding its international presence. Performativ, a SaaS-based client reporting software company headquartered in Copenhagen, has disclosed the successful securing of €5.5 million in a seed round of funding. The investment was spearheaded by FinTech Collective (FTC), a global VC firm supporting founders who envision a reimagined financial landscape. Existing investors such as UpFin, iGlobe Partners, and the Danish Sovereign Wealth fund, EIFO, also participated in this funding round. Aptoide, headquartered in Lisbon and functioning as an online marketplace for Android apps, has revealed the successful acquisition of €8.5 million in a recent funding round from Digital Turbine, a leading independent mobile growth platform. This investment from Digital Turbine was part of Aptoide's larger Series-B funding round of $12 million, which also saw participation from Faurecia, Portugal Ventures, and the 200M Fund, a Portuguese co-investment company. Otovo, headquartered in Oslo and operating as a marketplace for solar and battery storage, has disclosed the successful acquisition of €40 million in a recent funding round. The round was spearheaded by current investors Å Energy, Axel Johnson Group, and Nysnø (The Norwegian Government Climate Investment Fund). View the Newsletter online Newnex is the Digital-led Venture Capital platform. Get access to www.newnex.io Startups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

15 Nov

Startups

European Startups Funded recently - Newnex Weekly

Newnex has tracked $440m funding rounds this past week in European Venture Capital.Nu Quantum, a quantum networking company based in Cambridge, has secured £7 million in what the company is characterizing as a Pre-Series A funding round. Leading this funding round were Amadeus Capital Partners and IQ Capital, both of which have a longstanding history of supporting the company. New investor Expeditions Fund joined them. Additionally, the round saw participation from existing investors Ahren Capital, Seraphim Capital, The University of Cambridge, and Martlet, as well as new investors like Presidio Ventures, backed by Sumitomo Corporation, the National Security Strategic Investment Fund (NSSIF), and Deeptech Labs. Fero Payment Science, a Dutch online payment solutions provider, has secured $3 million in a seed funding round. The investment comes from notable backers including Coatue, Volta Ventures, and Antler. HeartBeat.bio, an Austrian biotech startup, has successfully raised €4.5 million in a Pre-Series A funding round. The round was jointly led by i&i Biotech Fund, Invest AG, aws Gründungsfonds II, and Tensor Ventures. GlassFlow, a startup located in Berlin, focusing on alleviating the challenges faced by event-driven data pipeline developers, has secured $1.1 million in a Pre-Seed funding round. This round was spearheaded by High-Tech Gründerfonds, Robin Capital, TinyVC, and Roosh Ventures, and received backing from angel investors, which includes GitHub CEO Thomas Dohmke, Aiven CTO Heikki Nousiannen, former head of streaming analytics at Google Sergei Sokolenko, and Prof. Dr.-Ing Roland Fassauer, a co-founder at Intershop. Anapaya Systems, a Swiss-based provider of SCION technology, has revealed that it successfully raised €1.8 million in funding from Mysten Labs, a U.S.-based company specializing in Web3 infrastructure technology and the original contributor to the Sui blockchain, an innovative Layer 1 blockchain and smart contract platform. Baseflow, a Switzerland-based company specializing in facilitating the acquisition of new citizenships and residencies, has disclosed that it successfully secured €2.3 million in funding. This investment was contributed by a group of notable individuals and entities, including Balaji Srinivasan, Tim Draper, Aragon DAO, Sandeep Nailwal, Roneil Rumburg, Andrea Dusi, Max Merenti, Enzo Coglitore, along with other angel investors and supporters. Multifi, a London-based credit platform focused on providing small and medium-sized businesses (SMBs) with financial support, has announced a successful funding round in which it raised £10 million. The investment was provided by Fasanara Capital, a London-based asset manager and technology platform with £4 billion under management. Bioomix , a bioindustrial startup headquartered in Odense, Denmark, has disclosed a successful funding round that raised €6.3 million. This round was spearheaded by West Hill Capital and included contributions from new investors, as well as continued support from existing backers such as PreSeed Ventures (PSV), Planetary Impact Ventures, HBL Invest, and David Hollidge. SkyCell, a Swiss-based company, has secured $57 million in funding from M&G's Catalyst Fund. This substantial investment will be utilized to further enhance the global pharmaceutical supply chain with the support of SkyCell's temperature-controlled hybrid containers and advanced technological solutions. Tupu, an agritech startup headquartered in Berlin, has successfully raised $3.2 million in a Seed funding round. This funding round was co-led by FoodLabs and Zubi Capital and attracted participation from Clear Current Capital, FoodHack, IT-Farm, Coast Cap, as well as contributions from angel investors like Roger Hassan and Gil Horsky. Kausal, a Finnish startup specializing in climate action plans, has secured €880,000 in a Seed funding round, with investments from notable backers like Innovestor and Zubi Capital. The funding will be allocated towards expanding sales and marketing activities in the DACH region and North America Kuva Space, a company specializing in earth observation based in Espoo, Finland, has recently revealed that it successfully raised €16.6 million in funding. The company's microsatellites possess the remarkable capability to discern the molecular composition of almost any material present on Earth. This funding round was spearheaded by its current investors, Voima Ventures and Nordic Foodtech VC, and saw the participation of Earth VC, a Singapore-based firm. Atom Bank, headquartered in Durham and known for its app-based banking services, has disclosed that it successfully secured more than £100 million in fresh equity capital from its steadfast shareholders, namely BBVA, Toscafund, and Infinity Investment Partners. This infusion of capital will empower Atom Bank in the UK to expedite the expansion of its balance sheet and enhance its offerings for savers, homeowners, first-time buyers, and small and medium-sized enterprises (SMEs). Berlin's Cambrium, a startup specializing in synthetic biology, unveiled that it had successfully raised €8 million in a seed funding round. Essential Capital took the lead in this funding round, and the participation came from SNR, Valor Equity Partners, and HOF Capital. This brings the total funding for the company to €11 million, considering previous investment from Merantix. Spotted Zebra, a workforce management platform with its base in London, has revealed that it successfully raised £7.7 million in a Series A funding round. The primary investor in this round was the pan-European venture capital firm Nauta Capital, and it saw involvement from Act Venture Capital, as well as Spotted Zebra's existing backers, Playfair and Entrepreneur First. Shakers, a Madrid-based startup specializing in human resources technology (hrtech) and dedicated to simplifying the process of assembling external teams for companies, has secured €6 million in a Seed funding round. The company's goal with this investment is to enhance its capacity and expand its client base, both within Spain and on an international scale. Notably, the €6 million Seed round was spearheaded by Adevinta Ventures, Brighteye Ventures, Athos Capital, and Telefónica's Wayra, often likened to Spain's equivalent of Bpi France in terms of widespread support. Recyc’ELIT, a French startup located in Chasse sur Rhône, specializing in recycling a wide range of complex textiles and plastics, has revealed that it successfully raised €3.2 million in a new funding round. This investment was primarily driven by Demeter through the Metropolitan Industrial Seed Fund (FAIM) Lyon – Saint-Etienne and UI Investissement. Additionally, the funding round saw participation from Banque des Territoires, which is part of the Caisse des Dépôts Group, Crédit Agricole Création, and undisclosed business angels. Green Genius, a green energy company based in Lithuania, has reported a successful financing agreement with Citadele Bank of Lithuania, resulting in €6.9 million in funding. This financial injection will be dedicated to the development of an energy-as-a-service solution-oriented power plant, aimed at fulfilling 100% of the electricity requirements for industrial customers through renewable sources. An additional €2.6 million for the project has been secured from the Innovation Fund, which is supported by proceeds from the EU Emissions Trading System and administered by the European Climate, Infrastructure and Environment Executive Agency (CINEA). Wirepas, a company based in Finland renowned for its expertise in creating scalable and dependable IoT networks, has disclosed that it successfully raised $22 million in a new funding round. Wirepas intends to utilize this funding to bolster its global footprint and solidify its position as the prevailing IoT connectivity standard. The funding round was spearheaded by Highland Europe, a prominent global venture capital firm, and enjoyed participation from both new and existing investors, including Amalfi, IQT, ETF Partners, KPN Ventures, Vito Ventures, and Vesa Laisi. Additionally, support for the company came from Inventure, Karma, and Tesi. TVARIT, a Frankfurt-based startup specializing in AI and deep tech solutions aimed at assisting metal companies in minimizing manufacturing scrap and energy losses, has unveiled its successful €6.5 million Series A funding round. The funding was prominently led by Momenta, Futury Capital, and 4impact Capital, signifying their strong support for the company's innovative endeavors. Additionally, Matterwave Ventures, an existing investor known for its focus on industrial deep tech, also participated in this funding round. Sprout.ai, the London-based company specializing in insurance claims automation, has successfully secured £5.4 million in funding. These funds will be channeled into bolstering the company's 'go-to-market strategy', fostering continued innovation, and expediting its growth as it ventures into new insurance sectors and expands into global markets, including the United States. Leading this funding round were Amadeus Capital Partners and Praetura Ventures. Additionally, the round garnered support from Capricorn Capital Partners, Forefront Venture Partners, Verstra Ventures, and Portfolio Ventures Angel Fund.--- Newnex is the Digital-led Venture Capital platform. Get access to www.newnex.ioStartups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

08 Nov

Startups

European Startups Funded recently - Newnex Weekly

Newnex has tracked $243m funding rounds this past week in European Venture Capital. A brief round-up of the fundraising rounds. FarmInsect, a company based in Munich specializing in insect technology, has successfully concluded a Series A funding round, surpassing its initial target with a total of €8 million. Leading the Series A round was Sandwater, based in Oslo, along with contributions from Bayern Kapital's Growth Fund, the Minderoo Foundation's Strategic Impact Fund, and the European Innovation Council Fund. Notably, existing investors HTGF and UnternehmerTUM Funding for Innovators also joined in on this funding round. Nortech AI, a tech innovator based in Norway and Portugal, has recently closed a successful seed funding round, raising €2.5 million. This funding comes from notable investors, Indico Capital Partners and Earlybird-X. With this financial support, Nortech AI aims to accelerate the transformation of the maritime industry, shifting it from a reactive approach to a proactive utilization of data. This transition is expected to usher in a new era of cost reduction and environmental preservation by decreasing greenhouse gas emissions. Aira, a clean energy technology company headquartered in Sweden, has revealed a significant funding accomplishment, raising €86 million. This funding has been provided by a consortium of investors with the shared goal of facilitating Europe's transition away from gas and expediting the path toward energy self-sufficiency. Among the prominent investors supporting Aira's mission are Altor, Collaborative Fund, Creades, Kinnevik, and Lingotto. ZenML, a Munich-based open-source Machine Learning Operations framework for building portable, production-ready MLOps pipelines, has announced that it secured an additional $3.7 million in funding. This extension round increases ZenML's total Seed funding to $6.4 million. The round was led by Point Nine, a Berlin-based venture capital firm, with continued support from ZenML's existing investor, Crane Venture Partners based in London. Notably, the funding also came from prominent figures in the industry, including D. Sculley, CEO of Kaggle; Harold Giménez, SVP R&D at HashiCorp; and Luke de Oliveira, the former director of Machine Learning at Twilio. Viso, a no-code computer vision platform that streamlines the development and deployment of vision-based enterprise applications, significantly accelerating the process from months to just days, has successfully secured $9.2 million in a seed round. The funding round was spearheaded by Accel and featured participation from angel investors such as Mehdi Ghissassi, Mihai Faur, Remy Lazarovici, James Isilay, and Stef van Grieken. This investment will aid Viso in further advancing its innovative solution. Memox, a Zurich-based company specializing in meeting and conference rooms, has secured €2.8 million in Series A funding to support the continued expansion of its office locations in the DACH region. This funding round was led by Swiss Prime Site and 41 Group, with participation from investors in various sectors, including real estate, technology, and investment banking. The Landbanking Group has successfully raised $11 million in Seed funding. This funding round was spearheaded by BonVenture and André Hoffmann and featured participation from investors such as 4P Capital, Vanagon, Planet A, the SUN Institute of the Deutsche Post Foundation, as well as several angel investors and family offices, including notable figures like Prince Maximilian of Liechtenstein, Alexa Firmenich, Jan-Hendrik Goldbeck, and Fabian Strüngmann. Likeminded, a Berlin-based B2B digital mental health solution provider, has secured an additional €1.5 million in funding to complement its previous Seed funding round. Earlier this year, the healthtech startup successfully concluded a funding round amounting to €5.9 million. This new capital injection, aimed at accelerating Likeminded's growth, was provided by IBB Ventures and the family office N & V Capital. Circu Li-ion, a Luxembourg-based battery upcycling company dedicated to increasing the value of batteries for environmental sustainability, has announced an €8.5 million seed round. This recent funding consists of €4.5 million in equity, led by BonVenture and supported by an undisclosed consortium of experts in batteries, AI, and industry, as well as a significant contribution from the company's management team. In addition, the investment is augmented by €4 million in grants from the European Innovation Council Accelerator (EICA) and through collaborations with recycling companies and original equipment manufacturers (OEMs), showcasing their commitment to a more eco-friendly future. Kota, the employee insurance and retirement benefits platform based in Ireland and formerly known as Yonder, has successfully raised €5 million in a Seed funding round. EQT Ventures led this oversubscribed round, with participation from existing investors Northzone and Frontline Ventures. Additionally, notable figures such as Job Van Der Voort, Romain Huet, David Clarke, and others also joined in on the investment. The funding will enable Kota to expand and scale its operations throughout Europe. Quantum Systems, a Bavaria-based company specializing in the development, manufacturing, and sale of AI-powered drone-robotics, has disclosed the successful completion of a Series B funding round, raising a substantial €63.6 million. With this latest funding, the company's total funding has now exceeded €100 million. HV Capital and DTCP spearheaded this funding round, with additional participation from Project A, Thiel Capital, ScaleUp Fonds Bayern, Omnes Capital, and Airbus Ventures. Klu, the UK-based platform for large language model applications, has secured $1.7 million in a pre-seed funding round. This round was led by Firstminute Capital and featured participation from a16z, Sequoia Capital, Craft Ventures, Atomico, as well as angel investors associated with Superhuman, IBM, Productboard, and other notable organizations. Montinutra, a Finnish company specializing in the conversion of forest industry byproducts into sustainable and high-value natural biochemicals that serve as alternatives to fossil-based materials in the chemical and cosmetics sectors, has successfully raised €2 million in pre-Series A funding. This funding round was spearheaded by Metsä Spring, the corporate venture unit of Metsä Group, and saw participation from a syndicate of private investors. InterLnkd, a travel tech startup headquartered in London, has revealed the successful closure of a £1 million seed funding round. This round was led by Vanneck Ltd., a UK-based investment manager, with the involvement of other angel investors. Goodbytz, a German foodtech startup, has secured €12 million in a Series A funding round with plans to expand its robotic kitchen assistants internationally. The funding round was primarily led by Oyster Bay, an early supporter of the company, and also included investment from Block Group, who are joining GoodBytz as new investors. Wheere, a startup based in Montpellier, France, specializing in indoor and outdoor location systems, has successfully raised €11 million in a new funding round. The investment was provided by Blast.Club, SOFILARO Capital Investissement, Bpifrance, and a group of business angels, which includes individuals such as Arnaud Frey, Adrien Montfort, and Jacques Arthur Essebag.--- Newnex is the Digital-led Venture Capital platform. Get access to www.newnex.ioStartups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

01 Nov

Startups

European Startups Funded recently - Newnex Weekly

European Startups funded recently27 October 2023Lanes & Planes, a prominent Germany-based company offering software-as-a-service (SaaS) solutions for corporate travel in Europe, has revealed that it secured €33 million in a Series B funding round. The round was spearheaded by U.S.-based Smash Capital, and saw the continued participation of existing investors including Battery Ventures, coparion, DN Capital, and AllIron. Ampacimon, a company based in Belgium that offers grid monitoring solutions for optimizing Transmission & Distribution assets, revealed on Monday that it successfully raised €10 million in a Series C funding round. This round saw participation from a new investor, Junction Growth Investors, while continuing support came from existing investors including Korys, Noshaq, Creos, and Gesval. Webel, a Spanish startup aiming to bring a wide range of services, from beauty to music lessons, personal training to dog grooming, directly to people's homes through its marketplace, has successfully secured €2.1 million in a Seed funding round. Leading the round is Trind Ventures, with contributions from Zaka Ventures (making its first investment in Spain), Decelera Ventures, Tiburon Ventures, and angel investors like Hugo Arévalo and more. Currently, Webel is providing over 100,000 services annually in Madrid, Barcelona, and Zaragoza and plans to use this funding to expand its services marketplace further. Gaming company Zeedz recently disclosed a $1 million Seed funding round alongside the global launch of its free-to-play (F2P) game, also named Zeedz, on Android and iOS app stores. The investment was spearheaded by the panel members of Germany's "Shark Tank" show, known as "Die Höhle der Löwen," featuring renowned entrepreneurs and investors like Carsten Maschmeyer, Tillman Schulz, and Dagmar Wöhrl.iwoca , a small business lender based in London, has successfully obtained a fresh debt facility of £200 million through Barclays and Värde Partners. This development follows an extension of their existing funding arrangement earlier this year from neobank Bunq's sole external supporter, Pollen Street Capital, which increased the line of credit from £125 million to £170 million. With this additional funding, the SME lender's total debt financing now exceeds £850 million. Klimate a company based in Copenhagen, has announced the successful raising of €3.5 million in a Seed funding round. The round was led by Eneco Ventures and Helen Ventures, with participation from existing investors, including Rockstart and the Export and Investment Fund of Denmark. Creative Force, a Danish company specializing in an end-to-end creative operations workflow platform for e-commerce retailers and brands, has reported a successful $8.9 million Series A funding round. The funding was provided by the Export and Investment Fund of Denmark (EIFO) and Hearst Ventures, the global venture capital division of Hearst. With this latest investment, the company's total funding now stands at $17.9 million. Homed-IQ, a medical technology (medtech) company, has revealed that it secured a €1 million investment from Healthy Capital along with private investors Amsterdam's PULSE Sport, a platform for athlete performance monitoring and sports management, has announced the receipt of its first investment of €250,000 in a pre-seed funding round from SportInnovator. PULSE Sport plans to use this investment to further develop their pilot phases, improve their organizational infrastructure, enhance their lab facilities, and ensure a steady supply of essential materials. Merqato, a data and market intelligence company based in Amsterdam, has disclosed that it secured a €350,000 convertible loan from Innovatiefonds Noord-Holland. CheckHub, a prominent Software-as-a-Service (SaaS) provider based in Brussels, has unveiled the successful raising of €1 million in a recent funding round. The round was spearheaded by the existing shareholder Cofinpar, and it saw participation from the majority of existing shareholders as well as three new investors. CheckHub offers a cloud-based platform that automates manual tasks associated with creating files during the onboarding process for employees, customers, or users. Apartool, a prominent B2B provider of corporate housing solutions, has officially completed a Series A funding round worth €5.5 million. This investment was spearheaded by Spanish fund Barlon Capital and European fund ROCH Ventures, and it also included participation from Telegraph Hill Capital (THCAP), Finaves (IESE), Iberis Capital, and other contributors. The funds raised in this round will be used to facilitate the scale-up's growth, as it has achieved a doubling of its turnover each year since 2019 and anticipates reaching €15 million in revenue by 2023. Poppins, a healthtech company previously known as Mila, has revealed an €8 million financing round led by Eurazeo, with participation from Verve Ventures, Allianz France, and HEC Ventures. This funding round brings the company's total funding to €12.9 million. Founded in 2018 and originating from École Polytechnique, Poppins focuses on addressing neurodevelopmental disorders in children. They have launched a therapeutic program for families with children experiencing specific learning difficulties such as dyslexia, dysorthographia, and dyscalculia. Fentech, a sales forecasting company, has reported raising €1.2 million in funding, with Elaia as the lead investor. Fentech specializes in an AI system named Clairvoyant, designed for sales forecasting. This technology empowers retail companies to adjust to volatile economic conditions and increasing inflation rates. NOLD, a UK-based fashion resale peer-to-peer startup, has announced the successful raising of €1 million in Seed funding. Tilia Impact Ventures led the funding round, with support from a consortium of venture capital and strategic investors, which includes Depo Ventures, Czech Founders, Sofia Angels Ventures, New Vision 3, and four angel investors. NOLD is dedicated to promoting a fashion circular economy by assisting sustainable, premium luxury brands in creating additional revenue streams through the monetization of the second-hand market. Cloover, a climate fintech startup with Swedish and Swiss roots, has disclosed that it successfully raised €7 million in a pre-seed funding round. The funding was spearheaded by 9900 Capital, a group with former investors from the Gates Foundation and Hedosophia, and included participation from QED, Broadhaven Ventures, Index Ventures' Scout Fund, Centrotec, as well as notable climate and fintech angel investors. Cloover offers a platform that enables vendors of renewable energy technologies to provide their services through a subscription model. Aindo, a generative AI startup headquartered in Italy, has confirmed the successful closure of a €6 million Series A funding round. United Ventures led the round, and it also saw participation from existing investor Vertis SGR through the Vertis Venture 3 Technology Transfer. Aindo's primary mission is to enhance the value and privacy of AI. The company aspires to take a leadership position in synthetic data and transform data mobility, emphasizing secure and privacy-focused information sharing. This funding will support Aindo in growing its team and creating AI solutions for the healthcare, finance, and public administration sectors. Skoon Energy , a software platform powered by AI for clean mobile energy, has secured €5 million in Series A funding. The round was led by North American VC Blue Bear Capital and included participation from the Graduate Entrepreneur Fund. This Series A funding builds on previous investments from notable backers such as Kees Koolen, an early investor and CEO of Booking.com, former COO of Uber; Damen Shipyards, one of the Netherlands' oldest family-run maritime services companies; and Rabobank, a prominent banking institution in the Netherlands. Inuru, a Berlin-based company, has reported securing $10 million in funding, highlighting the increasing confidence in the company's cost-effective OLED (Organic Light-Emitting Diode) technology. The funding was provided by Aper Ventures, Adamed Technology (the venture capital division of Polish pharmaceutical company Adamed Pharma), ARIA, and a consortium of business angels. HealthCaters, a pioneering German startup focused on transforming healthcare with disease prevention tools, has revealed a successful €1.2 million seed funding round. The round was led by Barmenia Next Strategies and included participation from Venpace, DvH Ventures, and angel investor Philipp Götting. Bikmo, a specialized bike insurer in the UK, has secured £3.4 million in a Series A extension round aimed at fueling their expansion across Europe. The funding is spearheaded by Puma Private Equity, with Kelvin Reader, Investment Director, expressing their enthusiasm for the investment. Delft-based fabless semiconductor company, Qualinx, has announced that it secured $10.2 million in a Series A extension round of funding, bringing the total funding for their Series A round to $20 million. This investment was provided by existing investors FORWARD.one, InnovationQuarter Capital, and Waterman Ventures, and also includes an Innovation Credit facility from the Netherlands Enterprise Agency, RVO. Amsterdam-based Overstory, a worldwide vegetation intelligence platform, has confirmed the successful raising of $14 million in a Series A funding round. The round was led by B Capital and saw participation from notable investors such as The Nature Conservancy, Convective Capital, Semapa Next, Bentley iTwin Ventures, Pale Blue Dot, CapitalT, Moxxie Ventures, and Overwater Ventures. Mediatool, a media management platform based in Stockholm, has revealed that it secured €7 million in a recent funding round. This round included two new investors, Fairpoint Capital, a B2B technology Venture Capital investor, and eEquity, a growth investor, joining the existing backers Newion, J12, Almi Invest, and Twig who have previously invested in the company. Ankra, a cloud infrastructure automation platform headquartered in Stockholm, has reported raising €1.1 million in a pre-seed funding round. The round was led by UK-based B2B investor Superseed and included participation from prominent angel investors in the industry.Newnex is the Digital-led Venture Capital platform. Get access to www.newnex.ioStartups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

27 Oct

Startups

European Startups funded recently - Newnex Weekly

Newnex's round-up of Startups Funded18 October 2023UK-headquartered infrastructure platform, OrdinalsBot, has successfully raised over $1 million in a Seed funding round. The company recently introduced its Software Developer Kit (SDK), which offers developers the tools they need to effortlessly incorporate ordinals functionality into their projects. The funding round attracted investments from a group of investors, including Kestrel 0X1, Lightning Ventures, Bitcoin Magazine Ecosystem Fund, Bitcoin Frontier Fund, Angsana Investments, Deep Ventures, and individual angel investors such as Sebastien Borget, Howard Morgan, Micah Spruill, Ivan Brightly, and Dillon Healy. Lottie, an online marketplace based in London that specializes in eldercare services, has secured $21 million in a Series A funding round, with Accel as the lead investor and General Catalyst, a previous supporter, also participating. Lottie's platform serves as a search tool for individuals in search of optimal later-in-life care options, such as care homes and retirement living communities. VARM, a startup focused on insulation, has recently closed a Pre-Seed funding round with a significant seven-figure investment. The company's core objective is to accelerate household decarbonization by simplifying and making the process of insulating cavity walls and roofs in residential buildings quicker and more cost-effective. Leading the funding round are Foundamental and A/O, and strategic angel investors include the founders of prominent companies like Thermondo, specializing in central heating, and ecoworks, a construction tech specialist. FourJaw, a British IoT startup, has secured £1.8 million in funding to further develop its machine monitoring platform, aimed at enhancing productivity, sustainability, and profitability within the manufacturing sector. The investment comes from NPIF – Mercia Equity Finance, which is managed by Mercia and is associated with the Northern Powerhouse Investment Fund, as well as Mercia's EIS funds and private investors. The Circle, an Italian company specializing in aquaponic agriculture, has successfully raised an additional €2.1 million in its funding round, with Opes Italia and Sparviero Holding leading the investment. In total, the company has secured €3.6 million, including €1.5 million previously acquired from Invitalia through the Smart & Start Italy - PON Enterprises and Competitiveness 2014 – 2020 program. Ostium Labs, a startup headquartered in the UK and the developer of a decentralized non-custodial exchange for perpetual real-world asset trading, has secured $3.5 million in a Seed round of funding. General Catalyst and LocalGlobe took the lead in this investment round, with contributions from SIG, DeFi Alliance, Balaji Srinivasan (former Coinbase CTO), Vessel Capital, and various other investors. Jetson, an innovative aviation company, has recently concluded a successful Seed round, raising $15 million. The company is known for its groundbreaking Jetson ONE, which is the first commercially available eVTOL that individuals can own and operate for short point-to-point flights. The round attracted investments from pioneering angel investors across the globe, including renowned rapper, tech entrepreneur, and consultant to automotive firms, will.i.am, who will also be among the initial Jetson pilots. French cybersecurity firm, HarfangLab, has successfully concluded a Series A funding round, raising €25 million. The round was spearheaded by Crédit Mutuel Innovation, and it also featured participation from MassMutual Ventures (CMI) and Elaia, a prior investor in HarfangLab, who previously led the company's initial €5 million funding round in 2021. LimmaTech Biologics AG, a clinical-stage biopharmaceutical company headquartered in Zurich, has revealed the successful closure of a $37 million Series A funding round. This significant investment was co-led by Adjuvant Capital, AXA IM Alts, and the Novo Holdings REPAIR Impact Fund. London-based fintech company Kennek, which specializes in creating an operating system for lenders, has announced the successful raising of $12.5 million in a seed funding round. The funding was led by HV Capital, with Dutch Founders Fund, ff Venture Capital, and Plug & Play Ventures also participating in the round after being involved in the startup's pre-seed funding round last February, which raised €4.1 million. French insurtech company Orus has secured €11 million in a Series A funding round, with Notion Capital and VR Ventures/Redstone taking the lead. Other participants in the round include Frst, Partech, Portage (who also backed the previous €5 million funding round), as well as angel investors Thierry Daucourt (Axa), Grégoire Rastoul (Leocare), and Albert Malagarriga Fandos (Elma). Niryo, an industrial startup specializing in the development of compact collaborative robotic arms, has announced a successful round of financing, totaling €6.4 million. This Series A funding round is led by the BPI Digital Venture investment fund, along with participation from the Innovacom investment fund and four other long-standing funds (IRD, Finorpa, NFA, and Go Capital). The funding is intended to support Niryo's global ambitions in revolutionizing the collaborative robotics industry. It will be used to explore new use cases, create a professional-focused product range, and further expand internationally. Additionally, the financing includes €3.6 million in loans from a consortium of banks. NEURA Robotics GmbH, an AI and robotics startup based in Germany, has revealed the successful raise of $16 million in a new funding round led by American private equity firm InterAlpen Partners. This announcement follows a recent funding round of $55 million with European investors. The international logistics platform MyDello, headquartered in Estonia, has secured €1.25 million in a Seed funding round. The leading investor in the round is Superhero Capital, with contributions from various others, including Jevgeny Kabanov and angel investors who have previously participated in funding rounds. Infrared City, a startup that originated from the Austrian Institute of Technology, has recently secured €1 million in pre-seed funding. The funding round was spearheaded by xista science ventures and included contributions from 2bX, Heartfelt, Antler, and P3A Ventures. These funds will be utilized to expedite the development of the startup's technology and grow its engineering team. Milan-based startup BonusX is dedicated to developing technology that simplifies and reduces the costs associated with accessing social and tax benefits. The company recently raised €3.2 million in a seed funding round, with London's Giant Ventures leading the investment. Other participants in the round include Exor Ventures, 2100 VC, and angel investors, notably Raffaele Terrone, co-founder of Italy's first unicorn, Scalapay. Munich-based startup Orbem which originated from PhD research into MRI technology with the goal of addressing and expediting the MRI process, has recently closed a $31.8 million Series A funding round. Leading the investment is 83North, and this round also saw participation from new investor La Famiglia, as well as existing investors The Venture Collective and Possible Ventures. Amsterdam-based startup, The Selection Lab, which specializes in developing assessment technology for screening applicants, has disclosed the successful raise of €1.25 million in a recent funding round. The round was led by Borski Fund and included participation from existing investor Arches Capital. Amsterdam-based AI startup, Tidalflow, has officially launched the company and simultaneously announced its first funding round, successfully raising $1.7 million. The investment round is jointly led by Gradient Ventures, Google's AI-focused venture fund, and Dig Ventures, which is operated by Ross Mason, the founder of MuleSoft. Additionally, the round received support from Antler. London-based FinTech company, Untangled Finance, has successfully concluded a strategic fundraise of £13.5 million. This multi-year strategic funding was spearheaded by Fasanara Capital, a renowned pioneer in FinTech investment and lending. Berlin-based fintech firm Upvest has successfully raised €30 million in a funding round. BlackRock, along with existing investors such as Bessemer Venture Partners, HV Capital, Earlybird, Notion Capital, ABN Amro Ventures, and 10x Capital, participated in the round. Upvest offers essential infrastructure for digital wealth management, covering trading, settlement, and custody, all within a low-friction API. Danish biotechnology company MinervaX ApS has successfully completed an upsized financing round totaling €54 million. The company intends to utilize this funding to advance the development of a novel prophylactic vaccine targeting Group B Streptococcus (GBS). The funding round saw participation from new investors EQT Life Sciences and Orbimed, as well as existing investors including Novo Holdings, Pureos Ventures, Sanofi Ventures, Trill Impact Ventures, Adjuvant Capital, Wellington Partners, Industrifonden, Sunstone LifeScience Ventures, and LF Invest. Estonian fintech startup Cino is revolutionizing the payment experience by linking each individual's bank account to a single virtual payment card, allowing groups to make payments together. The Tallinn-based company recently raised over €1.4 million in a funding round, with the participation of investors such as Tera Ventures, APX, and Atomico Syndicate. Finnish energy technology startup, Capalo AI, has successfully raised €500,000 in an early-stage funding round. The main investor in this round is Innovestor Tech Fund, with additional support from Inventure. Capalo AI plans to use the funds to further develop its virtual power plant (VPP) and the smart AI technology that optimizes it for various markets. Additionally, they intend to expand their team by recruiting skilled mathematicians and cloud service experts. AgomAb Therapeutics, a biotech company headquartered in Ghent, Belgium, has achieved a major milestone by closing a substantial Series C funding round, raising $100 million. Fidelity Management & Research Company led this funding initiative, with significant contributions from new investors including EQT Life Sciences (EQT), Canaan, and Dawn Biopharma (a KKR-controlled platform), in addition to ongoing support from existing investors. Tilak Healthcare, a trailblazer and prominent player in the realm of ophthalmological digital health, has secured €10 million in a funding round with leadership from Elaia and Cap Horn. This funding round elevates the total funding raised by the startup to €19.5 million. Deasie, a data governance platform, has successfully raised $2.9 million in a funding round, a mere five months after its launch. The Seed funding was provided by Y Combinator, General Catalyst, RTP Global, Rebel Fund, and J12 Ventures. London-based AI startup TitanML has secured $2.8 million in a Pre-Seed funding round and unveiled its solution, Titan Takeoff, which leverages AI to expedite large language model (LLM) deployment. The funding round was spearheaded by Octopus Ventures and featured contributions from various angel investors with a penchant for deeptech. Amsterdam-based Convious, an e-commerce platform catering to the leisure industry, has disclosed securing an additional $9 million in a Series A extension funding round. The investment is led by Wille Finance, with participation from Orbit Capital and existing investors. This announcement comes after over a year of raising $12 million in a Series A funding round primarily led by Begin Capital. With this extension, the total value of the Series A now reaches $20 million, comprising both equity and debt. Leiden-based biopharmaceutical company Synerkine Pharma has revealed that it secured €5.3 million in an extension of its Series A financing. This funding round is spearheaded by Flerie and boasts support from new investors like InnovationQuarter Capital and Utrecht Health Seed Fund, as well as the participation of existing investor Thuja Capital. The equity financing is complemented by an innovation credit from Rijksdienst voor Ondernemend (RVO) Nederland – the Netherlands Enterprise Agency. London-based instant payment startup Lopay recently disclosed a successful £6 million funding round, primarily led by BackedVC, Portage, The Venture Collective, and a group of angel investors. The funds raised will be directed towards accelerating the expansion of the company's operations and its overall business reach. Amsterdam-based digital healthcare platform Roott has successfully raised €600,000 in a pre-seed funding round. The funding round was backed by Healthy.Capital, Innovatiefonds Noord-Holland, and private investors, including André Grimbergen, co-founder of Albelli and the Wondr Experience, and Mike de Boer, CFO of Knab Bank. Roott aims to empower individuals to effectively manage their mental and physical health. Amsterdam-based Circular Industries, the developers behind the Urban Mining Factory – Printed Circuit Boards (UMF-PCB) project, has successfully raised €2 million in an early-stage funding round. Circular Industries (CI) is focused on advancing the UMF-PCB project with an emphasis on circularity and geopolitical independence. The project's goal is to maximize the recovery of Critical Raw Materials from discarded printed circuit boards, promoting sustainability and ensuring a secure resource supply for the future. This funding round was led by Orchard Participations, EIT InnoEnergy, and Impuls Zeeland. Estonian-founded fast energy storage company Skeleton Technologies has secured €108 million in a funding round involving equity and debt financing. The investment comes from Siemens Financial Services (SFS), Marubeni Corporation, CBMM (a Brazilian mining company), and other investors. Gridmo, a renewable energy software startup that originated from the Startmate program, has successfully raised $500,000 in its first external funding round. This round was primarily spearheaded by Grok Ventures, the Cannon-Brookes family fund, which contributed 80% of the total amount raised. Phasio, a startup that provides manufacturing design collaboration and quotation software, has secured $3.8 million in a Seed funding round. Phasio is transforming the way manufacturers handle quoting, design, and collaboration with customers, introducing a Google Docs-style approach to the design phase. AirTree Ventures led the round, with participation from investors such as Michael Sorkin's Gattaca Ventures, 500 Global (known for backing Canva), and Entrepreneur First. Heliup, a French startup specializing in lightweight photovoltaic panels, has secured €10 million in funding. The company's goal is to convert the expansive roofs of existing buildings into a clean energy source. Starquest Capital led the funding round, with contributions from EIT InnoEnergy, BNP Paribas Développement, and IDEC Group. Additionally, regional branches of BPI France, the France 2030 investment plan, and various other banks supported the funding.---- Newnex is the Digital-led Venture Capital platform. Get access to www.newnex.ioStartups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

18 Oct

Startups

European Startups Funded recently - Newnex Weekly

European Startups funded recently11 October 2023London-based startup Unitary has secured $15 million in a Series A funding round. The company specializes in visual content moderation, employing contextual AI to automate the moderation process and ensure that inappropriate content, such as NSFW material, is effectively filtered out. Creandum from Stockholm led the Series A round, with participation from Paladin Group Capital and Plural. French startup Pivot  has secured €5 million in Pre-Seed funding for its modern P2P tool designed to assist in managing expenses effectively and improving team collaboration. The funding comes from a mix of venture capital firms, including Visionaries, Emblem, Cocoa, Anamcara, and Financière Saint James, along with contributions from accomplished entrepreneurs and investors like Loic Soubeyrand (founder of Swile), Steve Anavi (co-founder of Qonto), Hanno Renner (co-founder of Personio), and Oliver Samwer (co-founder of Rocket Internet). MeetingPackage, an all-in-one sales automation software specializing in venue and group bookings, has successfully raised $4.6 million in a Series A funding round, with Scale Capital leading the investment. Orquesta, claiming to be the first European all-in-one LLM Operations and Integration platform, has secured €800,000 in pre-seed funding, exceeding the company’s initial target. The round was spearheaded by Curiosity VC, with Spacetime, the investment office of Adriaan Mol, serving as co-lead, with further participation including Golden Egg Check Capital, Magnetic Fund, and other investors such as Koen Köppen (Mollie), Milan Daniels and Max Klijnstra (Otrium), and Arjé Cahn (Bloomreach). Copenhagen-based startup Marts, which describes itself as an OS (Operating System) for IT management, has successfully raised €1.75 million in a Pre-Seed funding round. This funding round was led by Denmark's PreSeed Ventures and included investments from several notable angel investors, including Peakon CEO Phil Chambers, Normative chairman Kasper Hulthin, Klarna COO Camilla Giesecke, and the Export and Investment Fund of Denmark (EIFO). The funds will be used to further develop the company's offerings. The online store-building platform Shopblocks has secured over £1.5 million in funding to strengthen its position as a leader in the business-to-business ecommerce market. This funding was raised from various sources, including NPIF – Mercia Equity Finance, managed by Mercia and part of the Northern Powerhouse Investment Fund, as well as Mercia's EIS funds and an existing investor, the Greater Manchester Combined Authority (GMCA). French foodtech company Umiami is significantly expanding its texturizing technology for plant-based foods in Europe and is entering the U.S. market, thanks to a recent top-up to its Series A funding round. Umiami has secured an additional €32.5 million in funding, bringing the total Series A round to €59 million and the total funds raised by the company to over €100 million. This financing round was led by SPI fund and French Tech Seed (both managed by Bpifrance for the French government) and included contributions from Astanor Ventures, Redalpine, Newfund, and VERSO Capital. With this capital infusion, Paris-based energy startup Granular Energy has secured €7.5 million in a funding round led by Norrsken VC. Other notable participants in the round include All Iron Ventures, Box Group, Valo Ventures, and existing investors Seedcamp, Revent, and Powerhouse Ventures.  Automata, a London-based company specializing in robotic automation solutions for the life sciences industry, has secured $40 million in funding. The funding round was spearheaded by Dimension, with contributions from A.P. Moller Holding, the parent company of A.P. Moller Group, which includes businesses like Unilabs. Previous investors such as Octopus Ventures (known for backing Flock and Kita), Hummingbird, Isomer Capital, Possible Ventures, and Aldea Ventures also joined in the investment. Stockholm-based fintech company Brite Payments, specializing in instant bank payments, has revealed a successful funding round, securing $60 million in investment. This announcement suggests that Brite has caught the attention of lead investor Dawn Capital, along with participating investors Headline and existing backer Incore, who evidently recognize the unique potential of this fintech company. Greek startup Langaware, focusing on cognitive and mental health diagnostics, has successfully raised €2 million in a Seed funding round. This funding will be allocated towards advancing its technology and expanding its product teams as it extends its footprint in the US market. Leading the Seed round is Eleven Ventures, with participation from Metavallon VC. Copenhagen-based startup Responsibly, which leverages AI to assist companies in assessing and improving the sustainability of their suppliers, has disclosed a successful Seed funding round, raising $2.4 million. Leading this Seed round are London-based investors Hambro Perks and Pi Labs. MedTech startup Hippo Dx, based in Belgium, has announced the successful raising of €4.4 million in a recent funding round aimed at international expansion. The funding round saw participation from both existing and new investors, with notable contributors including LRM and the American Allerfund Ventures. Hippo Dx has developed an allergy testing device known for its superior speed, cost-effectiveness, and accuracy. Netherlands-based company Microsure specializing in robot-assisted microsurgery, has successfully concluded its Series B2 funding round, securing €38 million in development capital. Amsterdam-based Invest-NL played a key role by contributing €5 million to this round, which included converting a previous loan. Existing investors, such as Innovation Industries, BOM Ventures, private investors from Ten Cate Investerings Maatschappij (TCIM), Venturing Tech, Eindhoven University of Technology (TU/e), and Microsure's founders, also provided support during this funding round. Barcelona-based open-source startup Genie has secured $1.2 million in a Pre-Seed funding round. Genie is known for being the creator of the leading web framework for the rapidly growing Julia programming language, which is known for its high-performance computing capabilities. In addition to its web framework, Genie provides open-source full-code and low-code web development libraries and offers a no-code app development tool called Genie Builder. The funding round was spearheaded by Speedinvest, with the participation of Expa Ventures, Antler, APX/Heartfelt, and Shine Capital. Coliving specialist Habyt has announced a successful €40 million Series C funding round, bringing its total funding to €80 million. Habyt operates a digital platform that offers flexible co-living, apartment rentals, and hotel accommodations. This latest funding round is led by new investors Korelya Capital and Deutsche Invest, with participation from additional new investors Exor Ventures and Endeavor Catalyst, as well as continued support from existing shareholders including P101, ITALIA500-Azimut, HV Capital, Vorwerk Ventures, Norwest, Kinnevik, Burda Principal Investments, and Inveready. Helio, a company dedicated to transforming cloud computing to address environmental and efficiency challenges, has successfully raised a total of €4.9 million through a combination of equity and debt funding. The equity round was led by QBIT Capital and included participation from investors such as Rockstart, Uebermorgen Ventures, seed+speed, Combination VC, ROI Ventures, Swisspreneur, and Cloud Angel Investors. The debt financing was provided by Zürcher Kantonalbank (ZBK) and secured using the Swiss Technology Fund instrument. With this funding, Helio aims to accelerate its market expansion, particularly in areas like 3D rendering and AI, to meet the growing demand for sustainable, efficient, and cost-effective cloud computing solutions. The Netherlands-based Talent Acceleration Platform(TAP) has disclosed that it raised €951K in a funding round primarily led by Wamda Capital. The funds will be used to expand TAP's career acceleration programs in Palestine and similar underserved communities. Additional investors in this round include the World Bank, Loyal VC, and several angel investors. French cybersecurity company Nano Corp has successfully raised $4.2 million in a Seed funding round. The funding round was spearheaded by G+D Ventures and saw participation from existing investor Elaia Partners, as well as contributions from Cyber K1 and Inovia Capital Precede Fund I. Nano Corp specializes in providing software-based network detection and response (NDR) solutions, offering customers comprehensive visibility into their networks. This allows for quick identification of vulnerabilities and misconfigurations, even in hybrid configurations. French energy transition startup Inicio has secured €1.5 million in Seed funding. Established in 2022, the company has created an algorithm designed to identify the optimal land for solar panel installation, acquire or lease the land, evaluate project-related risks, and make it accessible to solar power developers. To further its European ambitions, Inicio has raised €1.5 million in funding from investment funds ISAI, Kima Ventures, and Business Angels. Finnish AI governance startup Saidot is assisting enterprises and governments in harnessing the benefits of AI safely through its platform. Serving clients such as the Scottish Government and Deloitte, the startup provides tools for evaluating and implementing safety systems for generative AI systems. Saidot has recently secured €1.75 million in a Seed funding round, with Crowberry Capital and Finnish investment firm Ventic leading the way. The round also includes €250,000 in program funding from Business Finland’s Young Innovative Companies funding program. This fresh funding will support Saidot in expanding its SaaS offering sales in Europe and launching new tools on the platform. French SaaS company scnd , which specializes in solutions for services marketplaces, has successfully raised €4 million in a funding round. This funding round received backing from investors 42Cap and Partech. Purpose Green, a Berlin-based climate technology company, has revealed that it secured €3.3 million in a funding round. This round was spearheaded by Speedinvest and Atlantic Labs. The company plans to utilize these funds to enhance its team by recruiting experts in the fields of ESG, climate, and building domains. Azumuta, based in Ghent, is addressing manufacturing shop floor challenges arising from inadequate process management by providing a software solution. This system aids employees at various production levels and offers management a clearer view of shop floor performance, streamlining tasks such as work instructions, training, and audits. The company has secured €2.8 million in funding from Flemish investment firm PMV, Angelwise, and four private investors, which will be used to support international expansion and further product development. Polish digital credential infrastructure SaaS startup, Certifier, has raised over $700,000 in a Seed funding round. Investors in the round include Movens Capital, FundingBox Deep Tech Fund, DEPO Ventures, and Black Pearls VC.  Germany-based medical startup Inovedis, specializing in innovative solutions to streamline patient care and simplify surgical interventions, has successfully closed a Series A funding round, securing €3.78 million. This funding round saw participation from Inovedis' initial seed round investors, including High-Tech Gründerfonds, MBG Mittelständische Beteiligungsgesellschaft Baden-Württemberg, Volksbank Albstadt ChancenKapital, Start-UP BW Innovation Fonds, and angel investors, along with an initial investment from Renolit SE, the current manufacturer of the SINEFIX implant French battery recycling startup Mecaware has secured €40 million in a Series A funding round, comprising equity, debt, and state subsidies. This funding will facilitate the expansion of Mecaware's technology and the launch of a pre-industrial pilot in partnership with Verkor, a well-funded gigafactory in Europe. The round was led by French VC Crédit Mutuel Innovation and included participation from SPI2, EIT InnoEnergy, UI Investissement, Kreaxi, BNP Paribas Création, and others. London-based startup autone, focused on data-driven inventory optimization to drive business growth, has successfully raised $4.5 million in its seed funding round. Notable investors in this round include Speedinvest, Seedcamp, Y Combinator, along with new contributors Motier Ventures, Financière Saint James, Kima Ventures, Purple, Better Angle, and 2100 Ventures. Blue biotech firm FlexSea, headquartered in London, has successfully secured £2 million in equity funding in a Seed round, primarily led by Indico Capital Partners, along with participation from RedRice Ventures, Btomorrow Ventures, Food Foundry, Vala Capital, ICON Capital, and Pente Capital. In addition to this equity investment, FlexSea has also received £1.3 million in grants from Innovate UK and other institutions, totalling over £3 million in funding raised to date. ---- Newnex is the Digital-led Venture Capital platform. Get access to www.newnex.ioStartups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

11 Oct

Venture Capital

European Startups Funded recently - Newnex Weekly

Newnex's round-up of Startups Funded recently3 October 2023Interesting news before we get started with startups:Industry Ventures raises $1.7 billion for secondaries across 2 fundsHCVC's new $75m hardtech fund backing technologies for the physical worldMintago, UK-based financial wellbeing startup, has secured $4.75 million in a Series A funding round. The primary investor in this equity investment round was BlackLion Ventures, contributing $3.75 million. Other participants included Love Ventures and Cur8 Capital. The capital infusion will be utilized to drive additional improvements to the platform's offerings and support the company's expansion across the United Kingdom.        Ekolution, a buildtech company headquartered in Malmö, Sweden, has secured approximately €12.64 million in funding from Longrun Capital, a prominent climate initiative backed by the Ljungberg family.Biomaterials startup traceless materials, headquartered in Hamburg, has announced the successful completion of a €36.6 million Series A funding round. This substantial funding round was co-led by United Bankers, a private equity firm from Helsinki, and Swen Capital Partners, a Paris-based private equity firm. The round also saw participation from GLS Bank and Hamburger Sparkasse, as well as existing investors including Planet A Ventures, High-Tech Gründerfonds (HTGF), and b.value. Notify Therapeutics, headquartered in Copenhagen and known for its pioneering female fertility treatment, has recently raised €5 million in a new funding round. Lundbeckfonden BioCapital and +ND Capital have joined forces to invest in this Danish company. Zurich-based energy investment platform Pexapark successfully secured €20 million in a Series C funding round. The funding was spearheaded by Telstra Ventures and also received backing from Swisscom Ventures and the A&G Energy Transition Tech Fund. This investment is earmarked for both expanding the company's market presence and advancing the development of its PPA transaction advisory services. Machine Discovery, a software company leveraging machine learning technology to expedite compute-intensive optimization and simulation tasks, has successfully raised £4.5 million in funding. BGF, one of the United Kingdom's major investment firms, and East Innovate took the lead in this investment round. Additionally, it received support from Foresight WAE Technology Funds, UK Innovation and Science Seed Fund (UKI2S), managed independently by Future Planet Capital (Ventures) Ltd, and Oxford Technology.  Paris-based KYC solution provider Ondorse has secured €3.8 million in a Seed funding round. The €3.8 million Seed funding round was spearheaded by Eurazeo and ISAI, both of which were previous Pre-Seed investors, and included participation from angel investors associated with companies like Stripe, iBanfirst, and Qonto. Finematter, a jewellery marketplace, has announced the successful second close of its Seed round, bringing the total funds raised to €2.6 million. This Seed round includes investments from a range of angel investors, including notable individuals such as Heini Zachariassen (Vivino), Christine de Wendel (Zalando/Sunday), Jeppe Rindom (Pleo), Dino Patti (Playdead/Jumpship), Peder Michael Pruzan-Jørgensen (Pandora's Sustainability board), and the continued participation of existing shareholder Heartcore Capital. Notably, 46 percent of the investors in this round are female. NUMA Group, a digital hospitality platform headquartered in Berlin, has disclosed that it secured $59 million in growth equity capital during a Series C funding round. Verlinvest took the lead in this funding round, with additional participation from Cape Capital and existing shareholders such as Headline, Cherry Ventures, DN Capital, and Soravia. Metergrid, a startup based in Stuttgart that is committed to delivering green electricity to tenants, has revealed that it secured €2.7 million in a seed funding round. This funding round was spearheaded by tech investment firm 468 Capital, and it also saw participation from Mätch VC, the Tiny Supercomputer Investment Company, and German footballer Mario Götze, all contributing to the early-stage financing. NexGen Cloud, a UK-based sustainable Infrastructure-as-a-Service provider and a distinguished member of the NVIDIA Partner Network, has announced its intention to invest $1 billion in the creation of one of Europe's pioneering AI Supercloud deployments. The company has already allocated $576 million for hardware orders with its suppliers. This significant investment is aimed at fostering the development and expansion of AI-driven enterprises in Europe. Neara, an infrastructure modeling platform harnessing artificial intelligence (AI) to create comprehensive 3D network models for engineering-grade simulations and analytics, has announced a €9.3 million extension in its capital raise. The funding round was led by Prosus Ventures and received support from Neara's existing investors, Skip Capital and Square Peg. This extension increases Neara's total Series B funding to €22.5 million. The Franco-Belgian proptech Izix has recently secured €3 million in equity funding from investors including Noia Capital, La Région Bruxelloise, and Franco-Belgian business angels. Izix has developed a solution that optimizes the utilization of parking lots in office buildings and promotes the transition to sustainable mobility and flexible office arrangements. MantiSpectra, a deep-tech company based in Eindhoven and a spinoff of the Eindhoven University of Technology, has announced that it secured €4 million in a funding round. The funding round was spearheaded by Innovation Industries and PhotonVentures. Notably, MantiSpectra's funding announcement comes shortly after it won the Gerard & Anton Awards, which recognize the top ten most promising startups in the Brainport Eindhoven region. Accenta a French company specializing in providing decarbonization solutions for buildings, has disclosed that it has secured €108 million in funding. The company intends to utilize this capital to solidify its position as a leader in the field of decarbonizing building heating and cooling systems. The funding was supported by EREN Groupe, which acquired a stake in Accenta in 2019 and has subsequently assumed operational control of the company. Additionally, the Siloé Infrastructures Fund, managed by Crédit Mutuel Impact, participated in this fundraising effort. Rayon, a collaborative design tool for the architecture, engineering, and construction industries (AEC), has announced that it raised €4 million in Seed funding. Strategic angel investors in this round include Norman Foster (architect and founding partner of Foster + Partners), Rasmus Andersson (early design employee at Spotify and Figma), Adam Wiggins (co-founder of cloud platform Heroku), David Basulto (founder and CEO of ArchDaily), and David Apple (early employee at TypeForm and Notion). London-based startup Morphoses has achieved success in an oversubscribed pre-seed funding round, securing €2.1 million in investments. Uni.Fund II VC took the lead as the primary investor in this round, with additional support coming from various angel investors. Some of the notable angel investors involved include Thanos Papangelis, Andreas Stavropoulos, Vasilis Bacolitsas, Laurent Marquis, Giannis Theodoropoulos, Lisa Katsouraki, Haris Pylarinos, Charles Delingpole, Dimitris Glezos, and many others. French biotech firm SeaBeLife has secured an additional €1.2 million in seed funding to support the ongoing development of its drug candidates for acute liver disease and eye disorders, as well as to facilitate team expansion. The extension of the Seed round was led by the iXLife fund and saw participation from existing angel investor networks, including Breizh Angels, Angels Santé, WeLike, and Badge. TravelLocal , a holiday booking and planning company, has revealed that it raised €9.7 million in a Series B funding round. TravelLocal operates as a B2C platform with a focus on tailor-made, mid-haul travel experiences. This funding round was led by Puma Private Equity and included participation from several investors, such as Active Partners and Gresham House Ventures. Paris-based AYRO, a company specializing in wind propulsion system engineering and control software, has announced that it raised €19.2 million in a Series B funding round. This funding round was spearheaded by Blue Ocean, managed by SWEN Capital Partners, bringing AYRO's total funding to over €30 million. The round also attracted investments from existing investors Ocean Act of France 2030 initiatives and brought in new investors like AmInvest, Colam Impact, Normandie Participations, Normandie Littoral, and FCPI Capital Innovant n°2, managed by SWEN Capital Partners. Resourcify, a waste management and recycling platform based in Hamburg, has disclosed that it secured €14 million in a Series A funding round. The round was spearheaded by Vorwerk Ventures and included participation from Revent, Ananda Impact Ventures, Speedinvest, BonVenture, and WEPA Ventures. London-based fintech startup Apron, which streamlines invoice payments for small businesses, has successfully raised $15 million in a funding round. This round was led by Index Ventures, a notable supporter of Revolut, and included participation from Bessemer Venture Partners and Visionaries Club. Framer, a professional no-code website builder for designers based in Amsterdam, has revealed that it secured $27 million in a Series C funding round. Meritech Capital led this funding round, with participation from existing investors such as Accel and Atomico. Swiss-based Eturnity, a B2B SaaS company specializing in software solutions for solar, heating, and e-mobility systems, has disclosed that it secured approximately €8.2 million in a Series A funding round. Junction Growth Investors and Alantra led this funding round. Eturnity intends to utilize the funding to accelerate its growth strategy and expand the availability of its software solutions across Europe, thereby aiding businesses in their transition to renewable energy sources. Kwayga.com, based in Ireland and known as a supplier sourcing engine for supermarkets, has revealed that it raised €1 million in a funding round led by the Redesdale Food and Beverage Fund. This funding will support the company's expansion efforts in the UK and Europe, enabling it to continue offering its customers the quickest and most efficient means of finding suppliers. Greenwood Power, based in Brunn am Gebirge, Austria, and known as a prominent innovator in non-conventional transformers, has disclosed that it secured €5.1 million in growth funding. This investment was provided by Austrian venture capital firm eQventure and the Lower Austrian VC fund tecnet equity. PandasAI, a German startup working on a conversational AI assistant for data analysis, has secured $1.1 million in a Pre-Seed funding round. The Pre-Seed round was backed by Luxembourg's Runa Capital, London-based Episode1, and Vento, the Italian branch of the Agnelli family's holding company, Exor Ventures. Flawless, a distributed startup specializing in operations observability and incident management, has recently secured $2.2 million in a Seed funding round. This investment is aimed at supporting the company's global expansion initiatives. The round was led by 42CAP and featured participation from existing investor Picus Capital, as well as new investors Dreamcraft Ventures and Oktogon Ventures. Chainable, a Netherlands-based circular kitchen company, recently secured €1.4 million in funding from impact investors Fair Capital Impact Fund and ifund.. The concept of circular kitchens has gained popularity in response to the unsustainable nature of traditional kitchens, which often generate substantial waste, particularly from materials like chipboard or medium-density fibreboard (MDF). Chainable's innovative approach aims to address this issue by offering a circular kitchen concept that minimizes environmental impact and waste, contributing to a more sustainable future for kitchen design and manufacturing.Nord Security, the company renowned for its VPN service NordVPN and headquartered in Vilnius, Lithuania, has raised $100 million in external funding. The investment was led by Warburg Pincus, a private equity firm based in New York. Additionally, existing investors Novator Ventures and Burda Principal Investments decided to increase their investments in Nord Security, showing confidence in the company's growth and potential. Existing angel backers of the company include Supercell CEO Ilkka Paananen (CEO, Supercell), Wolt CEO Miki Kuusi (CEO, Wolt), and Automattic CEO Matt Mullenweg. London-based Perenna , has recently secured an additional $52 million in equity investment funding to support the expansion of its long-term fixed-rate mortgage offerings on its fintech platform. The round was led by strategic investor Silverstripe Investment Management and featured participation from existing investors.----Newnex is the Digital-led Venture Capital platform. Get access to www.newnex.ioStartups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

03 Oct