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.
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