European Startups funded recently - Newnex Fortnight

5 March 2024

Newnex 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.

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