Startups Funded:

Newnex's this week round-up of startups funded to fuel their ventures:

Zeelo — a ‘smart buses’ platform providing bus operators, employers and schools with private bus and shuttle transport programs — has secured $14 million in a fresh Series A ‘Extension’ round of funding. The new investment was led by FlatzHoffmann (a European growth equity investor) and was joined by IREON Ventures (the CVC arm of Motor Oil Hellas), and an unnamed Boston-based family office.

London-based supply chain startup Kavida.ai has received an additional investment of £900k investment to further develop its platform with the incorporation of the artificial intelligence tool ChatGPT. The seed investment round was led by Qima, a leading provider of supply chain quality and compliance solutions and was joined by Red Bus Ventures as well as several prominent UK angels including Chris Adelsbach, Jack Cresswell, Christopher Carter, Ian Kemsley, Jonathan Davie, Simon Davies, Russell Puttick, Lord John Nash and more.

Natural nut butter producer Pip & Nut is set to continue its journey from challenger startup to “market-leading” brand with a £1m investment from the Greater London Investment Fund (GLIF), via appointed fund manager The FSE Group.

SureIn, a German Insurtech startup, has recently garnered $4.4 million in funding. Pact VC spearheaded the funding round, joined by supporters including Koro Capital, Robin Capital, and angel investors.

Xeltis, a Dutch medical technology company, has obtained €12.5 million in funding from the European Innovation Council (EIC) Fund to advance its trials of innovative implants designed to regenerate patients' tissue. This investment adds to Xeltis' cumulative funding, reaching €44.5 million. The company's investor base comprises entities such as DaVita Venture Group, EQT Life Sciences, Kurma Partners, VI Partners, Ysios Capital, along with Grand Pharma Group, and various public and private investors.

Legatics, the legal project management platform that simplifies and automates legal processes, has closed a £4 million investment from FINTOP Capital including a follow-on investment from current institutional investor, Gresham House Ventures. This latest financing round will fuel the company’s continued growth, including expansion plans for the US market.

Phasecraft, a London and Bristol, UK-based quantum algorithms company, raised £13M in Series A funding. The round was led by Playground Global with participation from AlbionVC and existing investors Episode1, Parkwalk Advisors, LCIF, and UCL Technology Fund.

Contiinex, a startup specializing in speech AI, has successfully secured $2 million in a pre-Series A funding round from tech-focused venture fund houses YourNest and Refex Capital.

Lindus Health , a startup from the U.K., aims to tackle the challenges in the field by positioning itself as a "next-gen contract research organization" (CRO) that streamlines and expedites the process of conducting clinical trials. The company has successfully completed an $18 million Series A funding round, with prominent supporters such as Creandum, an investor in Spotify, and billionaire entrepreneur Peter Thiel among the backers.

BP Ventures, the venture capital arm of the British energy giant, participated as one of the investors in a $12.5 million Series A financing for Advanced Ionics, a company based in the US. The investment also includes contributions from other investors such as Mitsubishi Heavy Industries, Clean Energy Ventures, and GVP Climate.

Swotzy, a last-mile logistics provider based in Latvia, has secured €500,000 in funding through a pre-seed funding round. Gdansk's Black Pearls VC contributed the €500,000 segment of Swotzy's pre-seed round, while Vilnius' Firstpick sustained their backing for the company. This follows their earlier provision of €90,000 to the startup just four months ago.

London-based AI visual effects start-up Electric Sheep has developed a solution, Spotlight, to streamline post-production in the film and television industry. Its cloud and AI platform is a rotoscoping tool which allows ‘flawless background removal’ giving visual effects editors more scope to make key adjustments. The start-up has raised an oversubscribed Pre-seed funding round of $500,000. The round was led by Dasein Capital and includes Spatial Capital and Look AI Ventures. Funds will be used to 'build and enhance' Spotlight. 

Georgia’s CityPay.io, a cryptocurrency payments start-up, has raised a Seed funding round of more than €2 million, which includes $500k investment in cryptocurrency. Investors in the round include Tether, Presto Ventures, and angel investors.

Finnish semiconductor firm Comptek Solutions has raised €8 million in a Series A funding round which includes participation from the EIC Fund and LIFTT S.p.A.

Dublin-based insurance tech provider Fineos, has secured $40 million from Macquarie Capital and MA Moelis  and other institutional investors in funding to ‘strengthen capital position’ giving the firm "the financial flexibility to deliver on our growth strategy," said Michael Kelly, the company’s founder and CEO.

The London-based fintech Communion, founded by ex-Habito CEO Daniel Hegarty, has launched its 'financial buffer' app and raised £2.5 million in Pre-seed funding. The funding round led by Target Global and includes Uncommon Creative Studio and angel investment from Erin Lantz, Greg Marsh, and Max Rofagha.

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