Newnex's comprehensive roundup of venture capital and growth-equity insights and highlights of recent fundraisings and investments. We tracked $2.4+ billion fundraisings in the European and Indian VC space. And we have some Newnex updates.
We would like to welcome VCs recently joined Newnex :
· Juha Lehtola, TESI Finland (Growth Equity)
· Donatas Keras, Practica Capital (Early stage)
· David Ephrati, Forestay Capital (Early-growth)
· Toby Lywood, Oxx (Early Growth)
VCs can privately invite your preferred VCs in the Newnex Network to syndicate deals in current and future rounds.
Top European VC fundraising news:
ETF Partners Closes €285 Million Fund
ETF Partners, one of Europe's oldest climate-focused VCs, closed its fourth fund at €285 million. The fund aims to support startups offering innovative solutions to combat climate change.
Accel Raises $650 Million for European Early-Stage Startups
Accel has raised a $650 million fund dedicated to early-stage startups in Europe. This fund will focus on sectors such as AI, cybersecurity, and health tech, reflecting Accel’s strong commitment to the European market despite economic downturns.
Maria Rotilu’s Openseed Fund
Maria Rotilu, Europe’s first Black solo GP, announced the first close of her $10 million fund, Openseed. This fund focuses on operator-led startups in Europe and Africa, aiming to support underrepresented founders.
European AI and Quantum Computing Investments
There has been significant investment in AI and quantum computing across Europe. Revolutionary advancements in qubit technology are paving the way for practical quantum computers, while AI technologies are being applied to optimize various sectors, including agriculture and healthcare.
Increased Focus on ESG in VC Investments
There is a rising emphasis on environmental, social, and governance (ESG) factors in European venture capital investments. This trend is driven by investor demand for sustainable and responsible investment opportunities, with many funds integrating ESG criteria into their strategies.
Avendus in Talks to Raise $300 Million
Avendus, a leading investment bank in India, is in discussions to raise about $300 million for its private equity unit. This move is part of a broader strategy to strengthen its position in the private equity market and capitalize on emerging opportunities in the Indian economy. Avendus' efforts reflect the ongoing interest in private equity investments despite global economic uncertainties (TechCrunch) (Crunchbase News).
Late-Stage and Secondary Market Trends
Late-stage deal sizes have decreased significantly, with the median size falling from $50 million in 2021 to $21 million in 2023. Despite this, there is an expected increase in private equity secondary transactions in 2024, providing liquidity options for investors and employees until the IPO market becomes more favorable. This trend is part of a broader shift towards more rationalized deal-making in the venture capital landscape
US funding topped by Scale AI
Scale AI: Company specializing in providing high-quality data for AI development, Scale AI, secured a significant $1 billion Series F funding round, valuing the company at nearly $14 billion. The round was led by existing investor Accel and included participation from returning investors such as Y Combinator, Founders Fund, and Thrive Capital, as well as tech giants NVIDIA and Amazon. New investors included Cisco Investments, Intel Capital, and Meta.
Europe has scaled $2.34billion startup funding
Incredible: Fintech startup Incredible has raised $1 million in a pre-seed funding round. Former Plaid executive Keith Grose and active angel investor Mark Ransford are among the notable figures who contributed to the investment.
Grasp: Stockholm-based AI assistant company Grasp secured €1.9 million in funding. Investors include Philian Invest, led by H&M Chairman Karl-Johan Persson.
Trawa: Renewable energy supplier Trawa successfully closed a Seed round, raising €10 million. Balderton Capital led the round, with participation from AENU, Speedinvest, Magnetic, and TinyVC.
Malted AI: Scotland-based startup Malted AI revealed securing £6 million in seed investment. Hoxton Ventures led the investment round, with participation from Creator Fund and angel investors.
Cylib: German startup Cylib, specializing in battery recycling, secured €55 million in a Series A funding round. European climate tech VC World Fund and Porsche Ventures led the investment, with participation from Bosch Ventures, NRW.Venture, Vsquared Ventures, Speedinvest, and 10x Founders.
HEPHAISTOS-Pharma: Biotechnology firm HEPHAISTOS-Pharma completed a €4.3 million Seed funding round. Elaia led the round, in collaboration with xista science ventures, the Fondation Fournier-Majoie, and Noshaq.
VEDA: The firm CIBC Innovation Banking extended €17 million in funding to VEDA, a German provider of HR software and payroll-as-a-service solutions.
Artisan AI: a UK-founded startup developing AI employees and software for enterprise companies, has secured $7.3 million in funding.
Leya: Stockholm-based legaltech company Leya completed a $10.5 million funding round led by Benchmark, with participation from Hummingbird, SV Angel, and Y Combinator.
Caeli Wind: Energy analysis platform Caeli Wind announced securing €11 million in growth capital. Notion Capital led the round, with participation from Santander Alternative Investments, HTGF, and existing investors.
Tulyp: French startup Tulyp closed a €1.5 million seed round led by Speedinvest, with participation from Kima Ventures, Purple Ventures, and several business angels.
Harvy: Paris-based agri-tech startup Harvy raised €1 million in a pre-seed funding round. Antler, Tivoli Capital, and FBFC contributed to the round.
Companion.energy: The energy software company raised €2.1 million from international investors. Übermorgen Ventures, Cavalry Ventures, Entourage, and Imec.istart Future fund participated in the funding.
Helsing: German AI defense company Helsing is reportedly in discussions to secure €370 million in Series C funding. The funding round is said to be spearheaded by US VC giant General Catalyst.
CIRCTEC: UK recycling startup CIRCTEC secured €150 million to build Europe’s largest end-of-life tyre pyrolysis recycling facility. The funding comprises a €75 million equity investment led by Novo Holdings and A.P. Moller Holding, along with €22.5 million in grants awarded by the Government of the Netherlands.
Medi2data: Cardiff healthtech company Medi2data secured £2.1 million in funding under the Enterprise Investment Scheme (EIS).
En Carta Diagnostics: The deeptech startup announced €1.5 million in Pre-Seed funding led by CentraleSupélec Venture and included participation from several high-profile business angels.
Resilience: Healthtech company Resilience raised $25 million in funding led by Picus Capital and Red River West. Additionally, previous investors Cathay Innovation, Singular, and Seaya Ventures are reinvesting in Resilience.
Pratika: The language learning app secured $35.5 million in Series A funding led by Blossom Capital.
VaultN: Amsterdam-based VaultN raised $1.6 million in a seed funding round led by PixCapital and Ubit.
NON.energy: Antwerp-based NON.energy, specializing in sustainable energy technologies, secured €1.15 million in fresh funding. The investment came from Birdhouse Ventures and six notable business angels.
SwissDrones: Zurich-based SwissDrones, an aerial intelligence company, raised $10 million in a Series B equity growth funding round. The funding was backed by a consortium of investors, including DiamondStream Partners, Chevron Technology Ventures, Ingleside Investors, and existing shareholders.
Quantia: The Polish sales analytics platform Quantia secured $1.2 million in funding to enhance companies' marketing capabilities. Inovo VC and Team X led the funding round, with notable participation from Ari2el Finkelstein, Dominique Locher, founder of LeShop.ch, and Ben Lang.
LabGenius: Drug discovery company LabGenius closed a £35 million Series B financing round. M Ventures led the funding, with new investors Octopus Ventures and LG Corp participating, alongside existing investors Atomico, Kindred Capital, Lux Capital, and Obvious Ventures.
Limula: Limula secured a $6.8 million seed round aimed at reducing the costs of life-saving cell and gene therapy products. Led by LifeX Ventures, the oversubscribed seed round also saw participation from Verve Ventures, Zühlke Ventures, Oxford Seed Fund, Lichtsteiner Foundation, W.A. de Vigier Foundation, founders, and angel investors.
qomodo: IoT cybersecurity company qomodo secured a £1.3 million Pre-Seed funding round. Expeditions Fund spearheaded the funding, with contributions from Amadeus Capital Partners, Auriga Cyber Ventures, Nio Advisors, McNally Capital, Ventures Together, and previous investor Techstars.
PIXEVIA: Lithuanian retailtech startup PIXEVIA announced raising €1.5 million in new funding. Coinvest Capital took the lead, with new investment from Iron Wolf Capital, Omni Commerce Ventures, and Rita Sakus. Existing investors Open Circle Capital, Vladas Lašas, and Renaldas Zioma also contributed significantly.
Unlockit: Portuguese payments platform Unlockit secured €1.4 million in Pre-Seed funding. The round was spearheaded by the Eaglestone Group through its venture capital arm, Eaglestone Capital Partners. Portugal Ventures and current investors Reorganiza and Republica also participated.
QA.tech: Swedish quality assurance testing startup QA.tech raised €3 million in funding. British VC PROfounders led the round, with participation from Curiosity and byFounders, as well as notable angel investors contributing to the round include Mads Johnsen, Jon Åslund, Robert Lagerström, Sven Perkmann, and Jens Saltin.
Behavio: Behavioural brand measurement tech company Behavio secured €2.25 million in late-Seed funding from Amsterdam-based Airbridge Equity Partners. Notable investors such as Presto Ventures, J&T Ventures, and several angels, including ex-Emplifi Nik Pantovic, also contributed to their success.
Zen Educate: The online marketplace connecting schools with substitute teachers and teaching assistants completed a successful €34 million Series B funding round. Round2 Capital led the round, with backing from existing investors Adjuvo, Brighteye Ventures, FJ Labs, Ascension Ventures, and notable angels including Octopus founder and CEO Simon Rogerson.
Oxford Endovascular: Oxford University spinout Oxford Endovascular secured £8 million in a Series A funding round to further develop its brain aneurysm technology.
Capchase: Capchase, a revenue accelerator platform for SaaS companies, announced securing a €105 million credit facility warehouse led by Deutsche Bank.
OneStock: Headquartered in Toulouse, OneStock announced a $72 million investment from global growth equity investor Summit Partners.
DeepL: The language AI company DeepL announced a $300 million investment, valuing the company at $2 billion. Index Ventures led the heavily oversubscribed round, with late-stage investors including ICONIQ Growth, Teachers’ Venture Growth, and existing investors such as IVP, Atomico, and WiL.
Enifer: Finnish mycoprotein company Enifer completed a €36 million funding round, including a €15 million Series B equity funding round led by Taaleri Bioindustry Fund I. Existing shareholders Nordic Foodtech VC, Voima Ventures, and Valio participated in follow-on investments.
Nory: Hospitality software provider Nory raised $16 million in Series A funding, led by Accel, with participation from existing investors Cavalry, Playfair, Samaipata, and Triplepoint.
Newton Energy Solutions: Delft-based Newton Energy Solutions secured €2.5 million from Fair Capital Impact Fund and existing shareholders Carteman Ventures, TNO, and König Metall Group.
Viable: UK-based fintech startup Viable successfully closed its seed funding round, securing £2.4 million to advance financial technology solutions tailored for online and multi-channel merchants. The funding round involved participation from Episode 1, Haatch, Portfolio Ventures, and angel investors like Martin Brailsford, former CEO of e-commerce group Internet Fusion.
Ore Energy: Delft-based science startup Ore Energy emerged from stealth mode with €10 million in funding from Positron Ventures and SPRIND.
Syre: Textile recycling startup Syre announced the closure of its $100 million Series A funding round. Leading the round is US-headquartered private equity firm TPG Rise Climate, investing $50 million. Other investors include venture capital firms Giant Ventures and Norrsken VC, as well as strategic Sweden-based investors such as H&M, Volvo Cars, and the IKEA-linked IMAS Foundation.
Orca AI: AI-powered operational platform for ships, Orca AI, raised $23 million in a recent funding round led by OCV Partners and Mizmaa Ventures. This investment boosts Orca AI’s total funding to nearly $40 million, solidifying its position in the development of autonomous shipping technology.
Methaplanet: Netherlands-based company Methaplanet, dedicated to helping biogas plants maximize their production, secured €6M in a Series A funding round. The round was led by Pensioenfonds ABP, with additional support from EIT InnoEnergy and business angels.
Powall: Delft-based Powall, providing R&D services and IP licensing for the scalable production of nanostructured materials, secured €3M in a follow-up investment round. Funding was provided by existing investors Sandwater and Invest NL, with additional support from EIT RawMaterials.
Bicycle Therapeutics: Cambridge-based medtech company Bicycle Therapeutics raised $555M in equity financing through a private placement. The financing was led by a US-based healthcare-focused investor, with participation from Deep Track Capital, EcoR1 Capital, Fairmount, Forbion, Perceptive Advisors, and RA Capital Management.
The H Company: A new company called The H Company emerged from stealth mode, announcing a substantial $220 million seed funding round. The funding was secured from a diverse group of investors, including Accel, UiPath, Bpifrance, Eric Schmidt, Xavier Niel, Amazon, and Yuri Milner. The company has ambitious plans to develop a new generation of artificial intelligence (AI) models.
India's $126 million startup funding
Red.Health (formerly StanPlus): Ambulance service provider Red.Health secured $20 million in a combination of equity and debt in a Series B round led by Jungle Ventures. The round also saw participation from Alteria Capital and existing investors HealthQuad and HealthX.
SolarSquare: Rooftop solar startup SolarSquare raised $4.2 million from existing investors, including Zerodha Technology, Abhijeet Pai and Nikhil Kamath’s Gruhas Proptech, Lowercarbon Capital, and Good Capital.
Battery Smart: Battery tech startup Battery Smart secured $45 million in a recent funding round from investors such as Acacia Inclusion Limited, MUFG Bank, Blume Ventures, The Ecosystem Integrity Fund, and British International Investment.
Sprect: C2C consulting marketplace Sprect announced raising ₹50 lakh in Angel funding from Siddarth (Sid) Shetty, Chief Business Development Officer at ServiceChannel. The company plans to utilize this funding to expedite product development, expand its team, bolster marketing efforts, and enhance sales initiatives.
InstaAstro: Online astrology platform InstaAstro secured $2.3 million in a funding round led by Artha Venture Fund. Additional participation in the round came from LogX Ventures, Singularity Ventures, IR Capital Partners, Blume Founders Fund, and Aloke Bajpai, managing director and chief executive of Ixigo.
Stupa Sports Analytics: Sportstech startup Stupa Sports Analytics, based in Gurugram, raised Rs 28 crore in a pre-Series A funding round led by Centre Court Capital and PeerCapital.
Stanza Living: Managed accommodation provider Stanza Living secured $13 million in what appears to be a bridge round, with Alpha Wave as the lead investor.
OTPless: Authentication and access management platform OTPless raised $3.5 million in its pre-Series A funding round, with SIDBI leading the investment. Venture Highway, FJ Labs, and Piper Serica also participated in the company's first institutional round.
KonProz: Generative artificial intelligence (GenAI) startup KonProz secured $700,000 in a funding round led by Dr. Ruchi Parekh, RDB Group, and a group of angel investors. The startup stated that this investment will play a crucial role in advancing its mission to revolutionize the way legal, tax, and regulatory professionals navigate the extensive and intricate legal knowledge base, and subsequently draft deliverables using Generative AI.
Varthana: Non-banking finance company (NBFC) Varthana in the education sector secured €3 million in funding from Triodos Investment Management through non-convertible debentures (NCD).
UnifyApps: Founders and angel investors contributed to UnifyApps’ $11 million seed round, with Elevation Capital leading the investment. UnifyApps utilizes generative AI (Gen AI) to integrate disparate systems, creating a unified integration platform. This platform accelerates the development of custom applications, automates workflows, and facilitates real-time data syncing.
Foxy: Online store Foxy, providing a diverse array of beauty, grooming, and cosmetic products, secured Rs 21.6 crore from its existing investor Lightspeed India Partners.
Portl: Digital fitness and wellness startup Portl secured $3 million in a funding round led by Bharat Innovation Fund. T-Hub Foundation and existing investor Kalaari Capital also participated in the round. The new funding will support Portl's product development, market expansion, and enhancement of its artificial intelligence (AI) systems.
Zypp Electric: B2B delivery and shared mobility startup Zypp Electric raised $14 million in its Series C round from Japan-based petroleum firm, ENEOS Oil & Energy Asia.
Vaaree: Home Furnishing & Decor startup Vaaree secured $2.5 million in a pre-Series A funding round led by Capier Investments, with support from Peak XV’s Surge Ventures.
----
Newnex is the Global Co-Investments Platform - select from global VCs and privately invite to co-invest or syndicate in 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.