European Startups Funded recently - Newnex Weekly

European Startups funded recently - Newnex Weekly

15 November 2023

Newnex 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).

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