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.

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