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Italy has implemented a new competition law tying tax breaks on investment returns for first and second pillar pension funds to specific allocations in venture capital funds. The law, which came into effect on December 19, 2024, aims to encourage investments in the real economy while balancing the protection of pension schemes' financial strength. Key points:1. Tax exemptions apply if venture capital fund allocations reach 5% of qualified investments in 2025 and 10% from 2026 onwards. 2. Pension schemes can invest up to 10% of assets in equities through various vehicles, including venture capital funds in Italy, the EU, and the EEA. 3. The law covers both qualified investments and long-term savings plans (PIR). 4. Tax exemptions require holding qualified investments for at least five years. 5. Adepp, the Italian association of pension funds for professionals, welcomed the changes as a balanced approach. 6. A safeguard clause allows retroactive tax benefits for investments in innovative start-ups made before the law's enactment. This new legislation represents a compromise between encouraging investment in start-ups and maintaining the financial stability of pension schemes, while also addressing concerns about the developing nature of Italy's venture capital market. ---Join the Future of Venture Capital Investing with Newnex <a href="https://www.newnex.io/edit/blogs/www.newnex.io" rel="noopener noreferrer" target="_blank">Newnex</a> is redefining venture capital by fostering collaborative and private investing and fundraising between VCs (GPs), Limited Partners (LPs), and Startups. Newnex simplifies syndication and co-investment for institutional investors, with a mission to connect 5,000+ VC and LP firms and 100,000 venture scale startups on a trusted platform for seamless, reference-only private deal-making. Join Newnex for free <a href="http://www.newnex.io/" rel="noopener noreferrer" target="_blank">www.newnex.io</a>

Italy Introduces New Tax Incentives for Pension Fund Investments in Venture Capital

As 2024 draws to a close, we find ourselves reflecting on an incredible year marked by growth, challenges, and countless reasons to be thankful.This year at Newnex has been a critical year. Together with your unwavering support, we’ve brought our vision to life, welcoming over 60 VC and LP firms into our trusted network. Your trust and collaboration have propelled us forward, helping us begin the journey of shaping the future of venture capital investing. Key Milestones of 2024This year has been a journey of achievements:<ul><li>Growth &amp; Impact: We launched Newnex and expanded our verified network, empowering firms to transact privately through trusted connections.</li><li>Innovation &amp; Progress: We launched new features and refined our platform, ensuring seamless experiences and creating meaningful connections.</li><li>Collaboration &amp; Feedback: Your ideas, feedback, and energy have been at the heart of our progress, guiding our mission to make venture capital smarter and more connected.</li></ul>In an ever-evolving landscape of tech and venture capital, we’re building the future with a digital-first approach that respects the institutional rigor required in equity investing. Together, we are pioneering a new era for the industry. Our Gratitude<ul><li>To our members: Thank you for believing in us and being a vital part of the Newnex community. Your engagement and trust fuel our purpose.</li><li>To our partners: Your collaboration and shared vision have been essential in achieving our milestones. We’re honored to grow alongside you.</li><li>To our team: Your dedication, creativity, and passion are the driving forces behind our success. You inspire us every day.</li></ul> Looking Ahead to 2025As we step into 2025, we are filled with excitement for the opportunities ahead. Our commitment to innovation, collaboration, and serving our community remains stronger than ever. We can’t wait to unveil what’s in store as we continue to build a platform that empowers and connects. Warm Wishes for the HolidaysFrom all of us at Newnex, we wish you and your loved ones a joyful and peaceful holiday season. May your Christmas be filled with warmth and happiness, and may 2025 bring you success, growth, and new opportunities.Thank you for being an essential part of our journey. Here’s to a future of shared success!With gratitude and best wishes, Praveen &amp; The Newnex Team<a href="http://www.newnex.io/praveen" rel="noopener noreferrer" target="_blank">www.newnex.io/praveen</a>

Newnex wishes you a Merry Christmas and a Happy New Year

The 29th Conference of the Parties (COP29), held in Baku, Azerbaijan, concluded with significant progress in climate finance and carbon markets. However, critical issues like fossil fuel transition and adequate funding remain unresolved, emphasizing the complexities of global climate action. The outcomes of COP29 present both opportunities and challenges as the world grapples with the urgent need for sustainable solutions. Enhanced Climate FinanceDeveloped nations pledged $300 billion annually by 2035 to support developing countries, with a broader goal of mobilizing $1.3 trillion annually by the same year. These commitments mark a step forward in recognizing the scale of investment required for effective climate action. Yet, developing nations argue the funding still falls short of the $1.3 trillion annually they need now to address climate impacts adequately. Breakthrough in Carbon MarketsAfter years of negotiation, COP29 finalized agreements on international carbon credit trading. This mechanism enables countries and companies to trade carbon emission reduction credits, unlocking substantial financial opportunities for developing nations. It also sets the stage for innovation in carbon accounting technologies, including blockchain, which could enhance transparency and efficiency.Persistent Challenges Fossil Fuel DependencyDespite financial progress, COP29 failed to deliver binding commitments to phase out fossil fuels. Resistance from key oil-producing nations, particularly Saudi Arabia, hindered efforts to prioritize renewable energy transitions. This gap underscores the need for stronger measures at future summits, as reliance on fossil fuels remains a major barrier to achieving global climate targets. Equity and Climate JusticeWhile the financial pledges are significant, questions remain about their allocation. Developing nations emphasize the importance of equitable distribution to ensure the most vulnerable populations receive the support they need. Additionally, voluntary contributions encouraged from emerging economies, such as China and Middle Eastern countries, lack enforceability, raising concerns about accountability. Adaptation vs. MitigationA growing divide persists between funding for adaptation—such as climate-resilient infrastructure—and mitigation, including renewable energy projects. Developing nations often prioritize adaptation, but it remains underfunded compared to mitigation initiatives. This imbalance highlights the need for targeted investment to address diverse climate challenges. Investment Opportunities Green TechnologyThe expanded climate finance goals open new avenues for green technologies. Renewable energy, energy-efficient infrastructure, and climate-resilient agriculture are likely to see increased demand, especially in developing countries. Carbon Markets and InnovationsThe formalization of carbon trading creates opportunities for companies specializing in carbon credit mechanisms. Transparent and innovative solutions like blockchain can drive the credibility of this market. Climate Adaptation SolutionsWith adaptation gaining focus, there’s a rising demand for technologies in early warning systems, water management, and climate-resilient urban planning. Sustainable FinanceThe commitments made at COP29 are expected to boost the sustainable finance sector, from green bonds to impact investing, catalyzing private sector engagement in climate solutions. Looking Ahead to COP30 As the world turns its attention to COP30 in Belem, Brazil, expectations are high for stronger action. With the Amazon rainforest—a critical ecosystem—taking center stage, issues like deforestation, biodiversity loss, and indigenous rights are likely to dominate discussions. Additionally, the summit will need to address unresolved issues from COP29, including fossil fuel phase-out strategies and the operationalization of the Loss and Damage Fund. Concrete timelines, accountability frameworks, and enhanced Nationally Determined Contributions (NDCs) will be critical to ensuring meaningful progress.Conclusion COP29 made strides in advancing climate finance and carbon markets but left much to be desired in addressing fossil fuel dependency and ensuring financial adequacy. While the commitments signal progress, they highlight the ongoing challenges in aligning global climate action with the urgency of the crisis. As investment opportunities grow and the stage is set for COP30, the world must balance ambition with action, ensuring no nation is left behind in the fight against climate change.

COP29: Pledges, Progress, and Persistent Challenges in the Climate Fight

We've all heard the classic advice on founding and scaling a startup: find the right co-founders, raise venture capital, and build key relationships early to ease fundraising, recruitment, and growth. But the truth is that scaling a startup often means confronting the hard realities of life. Not everyone has a co-founder—or a good one. For every productive co-founder relationship, there are plenty that don’t work out. Some co-founders may lack motivation, some may struggle to execute, and others face personal challenges that impact their work. The fact is, startups are built by people, and people are complex. So, instead of viewing scaling purely as a growth exercise, think of it as a process of stakeholder risk mitigation. Anticipate potential risks: the impact of a mismatched co-founder, the fallout from a poor hire, or a venture capitalist's hesitation to invest. Think from their perspectives. Identify what each stakeholder risks in joining your journey, then actively propose strategies to mitigate those risks. Make it easy for them to say "yes" by demonstrating that you've considered and addressed the challenges. In other words, scale by thinking for others. When thinking about risk mitigation in practical terms, especially when scaling a startup, it’s essential to recognize the motivations and risk tolerance of each stakeholder. Here’s how this approach can work across different areas: 1. Hiring: Startups often lack the brand prestige, competitive salaries, and stability of established companies. But by understanding a candidate’s motivations—whether they’re seeking autonomy, creative input, rapid growth, or financial gain—you can tailor a compelling offer that aligns with these drivers. For instance, if they’re motivated by independence, offer a clear pathway to lead initiatives. If it’s monetary, structure a competitive equity package or performance-based incentives. Once you secure the hire, document what persuaded them to join. This ensures you stay aligned with their motivations over time, promoting longevity and satisfaction in the role. 2. Selecting or Compensating for a Co-Founder: Many entrepreneurs partner with friends or acquaintances as co-founders, often due to shared interests or life circumstances. But the reality is that not all co-founders are equally invested in the startup's risks and rewards, and not everyone will handle the journey’s inevitable challenges. If you don’t have a co-founder, it doesn’t mean scaling is off the table; it means building additional layers of support. Start by hiring a strong second-in-command, someone like a “Sheryl Sandberg” to your “Mark Zuckerberg,” who can bring stability and help balance the load. This structure reduces reliance on a single person, making the company more resilient and attractive to investors. 3. Securing Venture Capital: Venture capitalists face a high degree of risk, particularly with team-related uncertainties. Their biggest concern is often not just the product or market risk but the risk within the founding team itself. This is why VCs tend to prefer companies with co-founders, as it provides continuity if something happens to one founder. If you're a solo founder, address this by demonstrating a well-rounded, capable team that can maintain momentum if you’re unavailable. Offer solutions that de-risk their investment: show a reliable operational plan, clarify succession strategies, and present a capable, diversified team. Doing so not only increases your chances of fundraising success but reassures VCs that you’ve anticipated and mitigated key risks, making you a stronger investment choice. <blockquote>Adopting a mindset of risk mitigation —thinking from others’ perspectives and addressing their potential concerns—can take you far in building a successful, resilient company. This approach doesn’t just apply to hiring or securing investment; it’s invaluable for securing clients, expanding into new markets, and ultimately planning for a successful exit.&nbsp;</blockquote> Exit strategy, in particular, deserves a separate conversation. But the essence is this: by creating pathways for various exit opportunities, you increase the company’s value and flexibility. Sometimes, you can position your company as an asset to potential acquirers by showing them that acquiring you will make them stronger than going it alone. When this value is evident, an exit becomes not just possible but almost inevitable. In short, by focusing on risk mitigation and strategically aligning with others’ goals, you can build a foundation for growth, resilience, and the eventual realization of the company’s full potential.

For Resilient Startup Scaling, Embrace Stakeholder Risk Mitigation

Philanthropic venture capital is an innovative funding approach that combines principles from traditional venture capital with philanthropic goals. This model aims to support and accelerate the development of solutions to pressing social and medical challenges, particularly in areas where traditional funding sources may be limited or risk-averse. Key Features of Philanthropic Venture Capital 1. Patient Capital: Unlike traditional venture capital, philanthropic VC offers longer investment horizons, often aligning with the extended timelines required for drug development or complex social interventions.2. Focus on Social Impact: While financial returns are considered, the primary goal is to create significant social or medical impact rather than maximizing profits.3. Expertise and Resources: Philanthropic VCs often provide strategic guidance, access to networks, and specialized knowledge in addition to financial support.4. Risk Tolerance: These funds are typically more willing to invest in high-risk, early-stage ventures that have the potential for substantial societal benefits.5. Non-Dilutive Funding: In some cases, philanthropic VC can offer non-dilutive funding, allowing startups to retain more control over their ventures. Advantages of Philanthropic Venture Capital - Bridging Funding Gaps: It addresses critical funding shortages, especially in areas like early-stage drug discovery or social enterprises.- Attracting Additional Investment: The involvement of a philanthropic VC can signal credibility and attract larger investors.- Specialized Knowledge: Many philanthropic VCs focus on specific areas (e.g., multiple myeloma research), providing deep domain expertise.- Long-Term Vision: The extended investment horizons allow for the pursuit of ambitious, transformative projects. Philanthropic venture capital has been successfully applied in various sectors: - Healthcare: The Cystic Fibrosis Foundation's investment in drug development led to breakthrough treatments.- Education: Funds like the NewSchools Venture Fund have supported educational initiatives.- Social Enterprises: Organizations like the Robin Hood Foundation invest in poverty-fighting initiatives. While philanthropic venture capital offers many benefits, it's not without challenges: - Measuring Impact: Defining and quantifying social returns can be complex.- Potential Conflicts: Balancing financial sustainability with social mission can create tensions.- Scalability Concerns: Some critics argue that this model may not be easily scalable to address large-scale social issues. Philanthropic venture capital represents a powerful tool for driving innovation and social change, particularly in areas underserved by traditional funding mechanisms. By combining financial resources with strategic support and a focus on long-term impact, this model has the potential to accelerate the development of critical solutions in healthcare, education, and other vital sectors.

What is Philanthropic Venture Capital aka Venture Philanthropy

At Newnex, we have compiled a list of essential startup events to help you plan effectively: February<ul><li><a href="https://www.4yfn.com/" rel="noopener noreferrer" target="_blank">4YFN - MWC</a>: Barcelona, Spain (26-29 Feb)</li></ul> March<ul><li><a href="https://hello-tomorrow.org/global-summit/" rel="noopener noreferrer" target="_blank">Hello Tomorrow Global Summit</a>: Paris, France (21-22 Mar)</li></ul> May<ul><li><a href="https://www.eu-startups.com/eu-startups-summit-2024/" rel="noopener noreferrer" target="_blank">EU Startup Summit</a>: Malta (9-10 May)</li><li><a href="https://tech.eu/event/2024/summit-london/" rel="noopener noreferrer" target="_blank">Tech EU Summit</a>: London, UK (16-17 May)</li><li><a href="https://www.gitex-europe.com/" rel="noopener noreferrer" target="_blank">GITEX Europe</a>: Berlin, Germany (21-23 May)</li><li><a href="https://latitude59.ee/" rel="noopener noreferrer" target="_blank">Latitude 59</a>: Tallinn, Estonia (22-24 May)</li><li><a href="https://vivatechnology.com/" rel="noopener noreferrer" target="_blank">Viva Tech</a>: Paris, France (23-24 May)</li></ul> June<ul><li><a href="https://viennaup.com/" rel="noopener noreferrer" target="_blank">Vienna Startup Festival</a>: Vienna, Austria (3-9 Jun)</li><li><a href="https://www.southsummit.io/" rel="noopener noreferrer" target="_blank">South Summit</a>: Madrid, Spain (5-7 Jun)</li><li><a href="https://londontechweek.com/" rel="noopener noreferrer" target="_blank">London Tech Week</a>: London, UK (10-14 Jun)</li><li><a href="https://thenextweb.com/conference" rel="noopener noreferrer" target="_blank">TNW Conference</a>: Amsterdam, Netherlands (20-21 Jun)</li></ul> September<ul><li><a href="https://techbbq.dk/" rel="noopener noreferrer" target="_blank">TECHBBQ</a>: Copenhagen, Denmark (11-12 Sep)</li></ul> November<ul><li><a href="https://websummit.com/" rel="noopener noreferrer" target="_blank">Web Summit:</a> Lisbon, Portugal (11-14 Nov)</li><li><a href="https://slush.org/" rel="noopener noreferrer" target="_blank">Slush</a>: Helsinki, Finland (20-21 Nov)</li></ul> Contact: <a href="mailto:events@newnex.io" rel="noopener noreferrer" target="_blank">events@newnex.io</a> to be included in the list.

Startup Events to attend in Europe, Asia and the US in 2024

Newnex has tracked $632m funding rounds this past week in European Venture Capital.&nbsp;London-based <a href="https://www.fnality.org/" rel="noopener noreferrer" target="_blank">Fnality</a>, a pioneer in developing wholesale payment systems based on Distributed Ledger Technology (DLT), has announced the successful completion of a €89 million Series B funding round. This funding was led by Goldman Sachs and BNP Paribas, with the participation of DTCC, Euroclear, Nomura, and WisdomTree. Noteworthy additional investments came from Series A investors Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, ING, Lloyds Banking Group, Nasdaq Ventures, State Street, Sumitomo Mitsui Banking Corporation, and UBS. &nbsp;Cambridge-headquartered nanomedicine firm <a href="https://vianautis.com/" rel="noopener noreferrer" target="_blank">ViaNautis</a> has secured $25 million in its Series A funding round. The funding was spearheaded by 4BIO Capital, BGF (known for supporting Kooth and Machine Discovery), and UCB Ventures, with contributions from the Cystic Fibrosis Foundation, Eli Lilly and Company, and existing investors such as Origin Capital, Meltwind, and O2H.&nbsp;<a href="https://www.solvimon.com/" rel="noopener noreferrer" target="_blank">Solvimon</a>, a platform provider for billing based in Utrecht, has disclosed a seed funding of €9 million. Northzone and chosen business angels contributed to the funding. The seed round will be utilized to grow the team and expedite its go-to-market strategy.&nbsp;French logistics tech startup <a href="https://stockoss.com/" rel="noopener noreferrer" target="_blank">Stockoss</a> has secured $4.3 million in seed funding, with Pi Labs, a London-based VC that recently supported Responsibly and Kamma, leading the round. Other participants in the funding round include Global Brain, 50Partners, Hartwood, and Kima Ventures.&nbsp;Paris-based fintech company <a href="https://tech.eu/search/?q=defacto" rel="noopener noreferrer" target="_blank">Defacto</a>, specializing in embedded B2B lending solutions, has raised an additional €10 million in a Series A funding round extension. Citi Ventures, a new investor, joined existing backers Northzone, Headline, and Global Founders Capital.&nbsp;<a href="https://www.lefourgon.com/" rel="noopener noreferrer" target="_blank">Le Fourgon</a>, a French startup focused on returnables, has revealed a Series A funding of €10 million.The funding comes from key investors Id4 and Teampact, along with La Poste Ventures fund—initiated by La Poste and managed by XAnge—and several business angels.&nbsp;French legal AI firm <a href="https://www.jimini.ai/" rel="noopener noreferrer" target="_blank">Jimini AI</a> has successfully concluded a €1.9 million seed funding round to expedite its expansion. Established in 2023 through Entrepreneur First, which is its initial investor, Jimini AI is presently introducing its solution in closed beta within various prominent European pilot firms. Polytechnique Ventures took the lead in the fundraising, joined by J12 Ventures, Galion.exe, Evolem, Zebox Ventures, and Better Angle. Jimini AI also benefits from the expertise of around fifteen well-known investors, including Thomas Wolf (Hugging Face), Pierre Aïdan and Timothée Rambaud (Legalstart), Didier Kuhn, Rémi Aubert (AB Tasty), and the founding team of Leeway.&nbsp;<a href="https://aikido.dev/" rel="noopener noreferrer" target="_blank">Aikido Security</a>, a Ghent-based company specializing in developer-friendly software security solutions, has disclosed a $ 5.4 million funding in its Seed round. The Seed round, totaling €5 million, was co-led by Notion Capital and Connect Ventures. In addition to this, Inovia Capital’s Precede Fund and angel investor Christina Cacioppo, CEO of Vanta, also participated in the funding.&nbsp;Dutch revenue-based finance marketplace <a href="https://www.levenue.com/" rel="noopener noreferrer" target="_blank">Levenue</a> has secured €8 million in a Series A funding round and completed the acquisition of Belgian fintech Cake. The Series A funding round, supporting Levenue's operations in 12 European countries, was led by Truffle Capital, with participation from Freshmen Fund.&nbsp;<a href="http://resistomap.com/" rel="noopener noreferrer" target="_blank">Resistomap</a>, a startup focused on monitoring antibiotic resistance, has revealed a successful $ 2.2 million seed funding round. The funding was spearheaded by European VC firm Ananda Impact Venture, with participation from Gaingel and support from a Business Finland R&amp;D grant.&nbsp;London-based <a href="https://usebloom.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 112, 192);">Bloom</a>, a coaching app to democratize access to coaching, has officially launched in the UK and the US after completing a seed funding round that secured $10 million. The mobile-first app had previously received funding from investors, including Octopus Ventures and MMC Ventures.&nbsp;<a href="http://www.naifcare.com/" rel="noopener noreferrer" target="_blank">Naïf</a>, a B-corp located in South Holland that produces skin-friendly care products for babies and parents, has disclosed securing €23 million from the European impact investor Future Business Partnership (FBP).&nbsp;<a href="https://bash.social/" rel="noopener noreferrer" target="_blank">BASH</a>, an Amsterdam-based startup specializing in party discovery through its app, has announced the successful raising of €750,000 in a recent funding round. The investment was contributed by existing backers, including Sjuul Berden (founder of United Wardrobe) and Leon Ramakers (former director of Mojo). Additionally, new investors such as Quinten Selhorst (founder of Felyx), Bastiaan de Rakt (founder of Enjins, Deeploy), Neil Currie, and Gijsbert de Regt (founders of eVision), along with Geert-Jan Smits (founder of Flinders), have joined the round.&nbsp;Financial services organization Macquarie Asset Management (MAM) has pledged to invest up to €175 million in Amsterdam's <a href="https://skynrg.com/" rel="noopener noreferrer" target="_blank">SkyNRG</a> through the Macquarie GIG Energy Transition Solutions (MGETS) Fund. This investment is aimed at supporting the expansion of Sustainable Aviation Fuels (SAF). MAM's Green Investments team will spearhead a new investment initiative to support SkyNRG's growth and its ambition to become a significant producer of Sustainable Aviation Fuels (SAF).&nbsp;<a href="https://gloxtherapeutics.com/" rel="noopener noreferrer" target="_blank">Glox Therapeutics</a>, headquartered in Glasgow, has successfully raised £4.3 million in a seed funding round. The funding round was spearheaded by Boehringer Ingelheim Venture Fund (BIVF) and Scottish Enterprise.&nbsp;Berlin-based AI company <a href="http://iqonic.ai/" rel="noopener noreferrer" target="_blank">IQONIC.AI</a> (formerly known as SQIN) has disclosed the successful closure of a seven-figure seed financing round. The funding round was backed by investors including Brandenburg Kapital, YZR Capital, and Arve Capital, as well as the continued participation of existing investors such as Accel, APX (an early-stage investor supported by Axel Springer and Porsche), Thomas Hayo, Michael Schummert, and Jens Apermann.&nbsp;Factory tech startup <a href="http://sensoteq.com/" rel="noopener noreferrer" target="_blank">Sensoteq</a>, based in Belfast, has secured £3.1 million in funding, with Pockit-backing Maven Capital Partners leading the round. The funding includes a £600,000 investment from TechStart Ventures.&nbsp;French cybersecurity startup <a href="about:blank" rel="noopener noreferrer" target="_blank">Qevlar AI</a> has raised €4.5 million in seed funding, with EQT Ventures, known for its recent investment in Kota, leading the round. The funding round also witnessed participation from notable figures in the tech and AI industry, including Olivier Pomel (CEO of Datadog), Mehdi Ghissassi (Director of Product at Google DeepMind), Florian Douetteau (CEO of Dataiku), Edouard Viot (VP Product of GitGuardian), and Tarik Dadi (CEO of Qantev). The fresh funds will help Qevlar AI to continue to grow its team and further invest in the product to continue to be one step ahead of cybercrime.&nbsp;&nbsp;&nbsp;Turin-based climatetech startup <a href="https://www.carpecarbon.com/" rel="noopener noreferrer" target="_blank">CarpeCarbon</a> has secured €1.7 million in a Pre-Seed funding round. The funding, totaling €1.765 million, was contributed by CDP Venture Capital's Tech4Planet initiative and 360 Capital. Other investors in the round include the Club Degli Investitori network and the PiemonteNext co-investment fund.&nbsp;Barcelona-based hosptech startup <a href="https://www.last.app/" rel="noopener noreferrer" target="_blank">Last.app</a>, founded by former Glovo team members Eric and Ivan Nikolic, has successfully raised €5 million in a recent financing round. Led by Nauta Capital and featuring participation from existing investors All Iron and Bynd, the restaurant management platform plans to utilize the growth capital for ongoing product development, team expansion, and strategic entries into new markets.&nbsp;<a href="https://crisp.nl/" rel="noopener noreferrer" target="_blank">Crisp</a>, the Amsterdam-based grocery app that prioritizes seasonal and local food, has concluded a funding round of €35 million. The funding was provided by a mix of existing and new investors, including prominent Dutch entrepreneurs and family funds. Key supporters in this round include notable market operators such as Adriaan Mol (Mollie, Messagebird), John Caspers (Adyen), Sanne Manders (Flexport), Thomas Plantenga (Vinted), and experienced retail executives like Sander van der Laan (Ahold, Action, Douglas). Family offices such as Bookmakers Investments, Timeless Investments, and Strikwerda Investments are also among the backers, along with venture capital firms Keen Ventures and Target Global, which are participating once again in this round.&nbsp;<a href="https://www.efenco.eu/" rel="noopener noreferrer" target="_blank">Efenco</a>, a Tallinn-based startup that transitioned from deeptech to cleantech, has secured €4.5 million to advance its "fire on turbocharge" technology. The funding includes €1.3 million led by Ivo Remmelg for EstBAN Syndicate and €3.2 million in grant funding from the European Innovation Council and Estonia's Archimedes Foundation.&nbsp;Biotech company <a href="https://www.vectorytx.com/" rel="noopener noreferrer" target="_blank">VectorY Therapeutics</a>, headquartered in Amsterdam, has revealed the successful completion of a €129 million Series A funding round. The round was co-led by EQT Life Sciences and the Forbion Growth Opportunities Fund. The financing saw participation from both new and existing investors, including MRL Ventures Fund (a corporate venture arm of Merck &amp; Co., Inc.), Rahway, NJ USA, Insight Partners, ALS Investment Fund, Forbion Ventures, BioGeneration Ventures (BGV), and another established investor.&nbsp;<a href="https://artisan.co/" rel="noopener noreferrer" target="_blank">Artisan</a>, an AI startup, has disclosed a $2.3 million fundraising effort to develop the inaugural human-like digital workers. The company is set to join the Y Combinators Winter 2024 batch commencing in January. Contributors to the Pre-Seed round include Bayhouse Capital and Oliver Jung.&nbsp;Payment processing technology startup <a href="https://www.silverflow.co/" rel="noopener noreferrer" target="_blank">Silverflow</a>, headquartered in Amsterdam, has secured €15 million in a recent funding round. The funding was led by Global Paytech Ventures and saw participation from Picus Capital, Coatue, Crane Venture Partners, Inkef, along with contributions from several angel investors.&nbsp;<a href="http://www.respiq.com/" rel="noopener noreferrer" target="_blank">RespiQ</a>, a Dutch healthtech startup founded by two female entrepreneurs, has been granted €4 million from the European Innovation Council (EIC), which recently invested in Efenco and Hardt Hyperloop. Over the next three and a half years, RespiQ will receive the grant in collaboration with an esteemed international consortium, which includes renowned academic institutions and medical research organizations such as the King's Centre for Lung Health, the School of Immunology and Microbial Sciences at King's College London, the National eHealth Living Lab within the Leiden University Medical Centre (LUMC), the Norwegian research organization Sintef, and the Portuguese technical consulting and research company, uRoboptics.&nbsp;Vienna-based <a href="http://www.atlas.design/" rel="noopener noreferrer" target="_blank">Atlas</a>, a 3D generative AI platform, has emerged from stealth mode with $6 million in funding. The funding comprises two rounds – a $4.5 million round led by 6th Man Ventures (6MV) and a $1.5 million round led by Collab+Currency. Other participants in the investment round include a16z Scouting Fund via Shrapnel, Contango, Gaingels, GFR Fund, New Renaissance Ventures, Square Enix, and Wagmi Ventures. Additional participants consist of Flamingo DAO, Founders Inc., Landvault, Monaverse, Neon DAO, and Slope Fund. Strategic advisors and angel investors supporting Atlas include Timmu Tõke (CEO &amp; Co-Founder, Ready Player Me), Abel Mathew (Former CEO &amp; Co-Founder, Backtrace, Former CTO Sauce Labs), and Geoff Renaud (CMO &amp; Co-Founder, Invisible North).&nbsp;Munich-based startup <a href="https://www.proximafusion.com/" rel="noopener noreferrer" target="_blank">Proxima Fusion</a>, dedicated to the development of emission-free fusion power plants, has successfully raised €7.5 million in an extension to its pre-seed funding round. The round was led by deep tech investors Plural Platform and UVC Partners, with additional participation from new investors such as Visionaries Tomorrow, Hummingbird Collective, Achleitner Ventures, Bosch Holding, FlixFounders fund, and a group of angel investors.&nbsp; ---&nbsp;Newnex is the Digital-led Venture Capital platform. Get access to <a href="http://www.newnex.io/" rel="noopener noreferrer" target="_blank">www.newnex.io</a>&nbsp;Startups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

European Startups funded recently - Newnex Weekly!

Newnex has tracked $440m funding rounds this past week in European Venture Capital. <a href="https://tech.eu/2019/10/17/nu-quantum-builds-toward-cybersecurity-with-650000-pre-seed-round/" rel="noopener noreferrer" target="_blank">Nu Quantum</a>, a quantum networking company based in Cambridge, has secured £7 million in what the company is characterizing as a Pre-Series A funding round. Leading this funding round were Amadeus Capital Partners and IQ Capital, both of which have a longstanding history of supporting the company. New investor Expeditions Fund joined them. Additionally, the round saw participation from existing investors Ahren Capital, Seraphim Capital, The University of Cambridge, and Martlet, as well as new investors like Presidio Ventures, backed by Sumitomo Corporation, the National Security Strategic Investment Fund (NSSIF), and Deeptech Labs.&nbsp;<a href="https://fero.com/" rel="noopener noreferrer" target="_blank">Fero Payment Science</a>, a Dutch online payment solutions provider, has secured $3 million in a seed funding round. The investment comes from notable backers including Coatue, Volta Ventures, and Antler.&nbsp;<a href="https://heartbeat.bio/" rel="noopener noreferrer" target="_blank">HeartBeat.bio</a>, an Austrian biotech startup, has successfully raised €4.5 million in a Pre-Series A funding round. The round was jointly led by i&amp;i Biotech Fund, Invest AG, aws Gründungsfonds II, and Tensor Ventures.&nbsp;<a href="https://glassflow.dev/" rel="noopener noreferrer" target="_blank">GlassFlow</a>, a startup located in Berlin, focusing on alleviating the challenges faced by event-driven data pipeline developers, has secured $1.1 million in a Pre-Seed funding round. This round was spearheaded by High-Tech Gründerfonds, Robin Capital, TinyVC, and Roosh Ventures, and received backing from angel investors, which includes GitHub CEO Thomas Dohmke, Aiven CTO Heikki Nousiannen, former head of streaming analytics at Google Sergei Sokolenko, and Prof. Dr.-Ing Roland Fassauer, a co-founder at Intershop.&nbsp;<a href="https://www.anapaya.net/" rel="noopener noreferrer" target="_blank">Anapaya Systems</a>, a Swiss-based provider of SCION technology, has revealed that it successfully raised €1.8 million in funding from Mysten Labs, a U.S.-based company specializing in Web3 infrastructure technology and the original contributor to the Sui blockchain, an innovative Layer 1 blockchain and smart contract platform.&nbsp;<a href="https://baseflow.xyz/" rel="noopener noreferrer" target="_blank">Baseflow</a>, a Switzerland-based company specializing in facilitating the acquisition of new citizenships and residencies, has disclosed that it successfully secured €2.3 million in funding. This investment was contributed by a group of notable individuals and entities, including Balaji Srinivasan, Tim Draper, Aragon DAO, Sandeep Nailwal, Roneil Rumburg, Andrea Dusi, Max Merenti, Enzo Coglitore, along with other angel investors and supporters.&nbsp;<a href="https://multifi.co.uk/" rel="noopener noreferrer" target="_blank">Multifi</a>, a London-based credit platform focused on providing small and medium-sized businesses (SMBs) with financial support, has announced a successful funding round in which it raised £10 million. The investment was provided by Fasanara Capital, a London-based asset manager and technology platform with £4 billion under management.&nbsp;<a href="https://bioomix.com/" rel="noopener noreferrer" target="_blank">Bioomix</a>&nbsp;, a bioindustrial startup headquartered in Odense, Denmark, has disclosed a successful funding round that raised €6.3 million. This round was spearheaded by West Hill Capital and included contributions from new investors, as well as continued support from existing backers such as PreSeed Ventures (PSV), Planetary Impact Ventures, HBL Invest, and David Hollidge.&nbsp;<a href="https://www.skycell.ch/" rel="noopener noreferrer" target="_blank">SkyCell</a>, a Swiss-based company, has secured $57 million in funding from M&amp;G's Catalyst Fund. This substantial investment will be utilized to further enhance the global pharmaceutical supply chain with the support of SkyCell's temperature-controlled hybrid containers and advanced technological solutions.&nbsp;<a href="https://www.heytupu.com/" rel="noopener noreferrer" target="_blank">Tupu</a>, an agritech startup headquartered in Berlin, has successfully raised $3.2 million in a Seed funding round. This funding round was co-led by FoodLabs and Zubi Capital and attracted participation from Clear Current Capital, FoodHack, IT-Farm, Coast Cap, as well as contributions from angel investors like Roger Hassan and Gil Horsky.&nbsp;<a href="https://kausal.tech/en/" rel="noopener noreferrer" target="_blank">Kausal</a>, a Finnish startup specializing in climate action plans, has secured €880,000 in a Seed funding round, with investments from notable backers like Innovestor and Zubi Capital. The funding will be allocated towards expanding sales and marketing activities in the DACH region and North America&nbsp;<a href="https://kuvaspace.com/" rel="noopener noreferrer" target="_blank">Kuva Space</a>, a company specializing in earth observation based in Espoo, Finland, has recently revealed that it successfully raised €16.6 million in funding. The company's microsatellites possess the remarkable capability to discern the molecular composition of almost any material present on Earth. This funding round was spearheaded by its current investors, Voima Ventures and Nordic Foodtech VC, and saw the participation of Earth VC, a Singapore-based firm.&nbsp;<a href="http://www.atombank.co.uk/" rel="noopener noreferrer" target="_blank">Atom Bank</a>, headquartered in Durham and known for its app-based banking services, has disclosed that it successfully secured more than £100 million in fresh equity capital from its steadfast shareholders, namely BBVA, Toscafund, and Infinity Investment Partners. This infusion of capital will empower Atom Bank in the UK to expedite the expansion of its balance sheet and enhance its offerings for savers, homeowners, first-time buyers, and small and medium-sized enterprises (SMEs).&nbsp;Berlin's <a href="https://cambrium.bio/" rel="noopener noreferrer" target="_blank">Cambrium</a>, a startup specializing in synthetic biology, unveiled that it had successfully raised €8 million in a seed funding round. Essential Capital took the lead in this funding round, and the participation came from SNR, Valor Equity Partners, and HOF Capital. This brings the total funding for the company to €11 million, considering previous investment from Merantix.&nbsp;<a href="https://www.spottedzebra.co.uk/" rel="noopener noreferrer" target="_blank">Spotted Zebra</a>, a workforce management platform with its base in London, has revealed that it successfully raised £7.7 million in a Series A funding round. The primary investor in this round was the pan-European venture capital firm Nauta Capital, and it saw involvement from Act Venture Capital, as well as Spotted Zebra's existing backers, Playfair and Entrepreneur First.&nbsp;<a href="https://www.shakersworks.com/" rel="noopener noreferrer" target="_blank">Shakers,</a> a Madrid-based startup specializing in human resources technology (hrtech) and dedicated to simplifying the process of assembling external teams for companies, has secured €6 million in a Seed funding round. The company's goal with this investment is to enhance its capacity and expand its client base, both within Spain and on an international scale. Notably, the €6 million Seed round was spearheaded by Adevinta Ventures, Brighteye Ventures, Athos Capital, and Telefónica's Wayra, often likened to Spain's equivalent of Bpi France in terms of widespread support.&nbsp;<a href="https://recyc-elit.com/en/home-english/" rel="noopener noreferrer" target="_blank">Recyc’ELIT</a>, a French startup located in Chasse sur Rhône, specializing in recycling a wide range of complex textiles and plastics, has revealed that it successfully raised €3.2 million in a new funding round. This investment was primarily driven by Demeter through the Metropolitan Industrial Seed Fund (FAIM) Lyon – Saint-Etienne and UI Investissement. Additionally, the funding round saw participation from Banque des Territoires, which is part of the Caisse des Dépôts Group, Crédit Agricole Création, and undisclosed business angels.&nbsp;<a href="https://greengenius.com/" rel="noopener noreferrer" target="_blank">Green Genius</a>, a green energy company based in Lithuania, has reported a successful financing agreement with Citadele Bank of Lithuania, resulting in €6.9 million in funding. This financial injection will be dedicated to the development of an energy-as-a-service solution-oriented power plant, aimed at fulfilling 100% of the electricity requirements for industrial customers through renewable sources. An additional €2.6 million for the project has been secured from the Innovation Fund, which is supported by proceeds from the EU Emissions Trading System and administered by the European Climate, Infrastructure and Environment Executive Agency (CINEA).&nbsp;<a href="https://www.wirepas.com/" rel="noopener noreferrer" target="_blank">Wirepas</a>, a company based in Finland renowned for its expertise in creating scalable and dependable IoT networks, has disclosed that it successfully raised $22 million in a new funding round. Wirepas intends to utilize this funding to bolster its global footprint and solidify its position as the prevailing IoT connectivity standard. The funding round was spearheaded by Highland Europe, a prominent global venture capital firm, and enjoyed participation from both new and existing investors, including Amalfi, IQT, ETF Partners, KPN Ventures, Vito Ventures, and Vesa Laisi. Additionally, support for the company came from Inventure, Karma, and Tesi.&nbsp;<a href="https://tvarit.com/" rel="noopener noreferrer" target="_blank">TVARIT</a>, a Frankfurt-based startup specializing in AI and deep tech solutions aimed at assisting metal companies in minimizing manufacturing scrap and energy losses, has unveiled its successful €6.5 million Series A funding round. The funding was prominently led by Momenta, Futury Capital, and 4impact Capital, signifying their strong support for the company's innovative endeavors. Additionally, Matterwave Ventures, an existing investor known for its focus on industrial deep tech, also participated in this funding round.&nbsp;<a href="https://sprout.ai/" rel="noopener noreferrer" target="_blank">Sprout.ai</a>, the London-based company specializing in insurance claims automation, has successfully secured £5.4 million in funding. These funds will be channeled into bolstering the company's 'go-to-market strategy', fostering continued innovation, and expediting its growth as it ventures into new insurance sectors and expands into global markets, including the United States. Leading this funding round were Amadeus Capital Partners and Praetura Ventures. Additionally, the round garnered support from Capricorn Capital Partners, Forefront Venture Partners, Verstra Ventures, and Portfolio Ventures Angel Fund. ---&nbsp;Newnex is the Digital-led Venture Capital platform. Get access to <a href="http://www.newnex.io/" rel="noopener noreferrer" target="_blank">www.newnex.io</a> Startups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

European Startups Funded recently - Newnex Weekly

Newnex has tracked $243m funding rounds this past week in European Venture Capital. A brief round-up of the fundraising rounds. <a href="https://farminsect.eu/" rel="noopener noreferrer" target="_blank">FarmInsect</a>, a company based in Munich specializing in insect technology, has successfully concluded a Series A funding round, surpassing its initial target with a total of €8 million. Leading the Series A round was Sandwater, based in Oslo, along with contributions from Bayern Kapital's Growth Fund, the Minderoo Foundation's Strategic Impact Fund, and the European Innovation Council Fund. Notably, existing investors HTGF and UnternehmerTUM Funding for Innovators also joined in on this funding round.&nbsp;<a href="https://nortech.ai/" rel="noopener noreferrer" target="_blank">Nortech AI</a>, a tech innovator based in Norway and Portugal, has recently closed a successful seed funding round, raising €2.5 million. This funding comes from notable investors, Indico Capital Partners and Earlybird-X. With this financial support, Nortech AI aims to accelerate the transformation of the maritime industry, shifting it from a reactive approach to a proactive utilization of data. This transition is expected to usher in a new era of cost reduction and environmental preservation by decreasing greenhouse gas emissions.&nbsp;<a href="https://www.airahome.com/" rel="noopener noreferrer" target="_blank">Aira</a>, a clean energy technology company headquartered in Sweden, has revealed a significant funding accomplishment, raising €86 million. This funding has been provided by a consortium of investors with the shared goal of facilitating Europe's transition away from gas and expediting the path toward energy self-sufficiency. Among the prominent investors supporting Aira's mission are Altor, Collaborative Fund, Creades, Kinnevik, and Lingotto.&nbsp;<a href="https://www.zenml.io/" rel="noopener noreferrer" target="_blank">ZenML</a>, a Munich-based open-source Machine Learning Operations framework for building portable, production-ready MLOps pipelines, has announced that it secured an additional $3.7 million in funding. This extension round increases ZenML's total Seed funding to $6.4 million. The round was led by Point Nine, a Berlin-based venture capital firm, with continued support from ZenML's existing investor, Crane Venture Partners based in London. Notably, the funding also came from prominent figures in the industry, including D. Sculley, CEO of Kaggle; Harold Giménez, SVP R&amp;D at HashiCorp; and Luke de Oliveira, the former director of Machine Learning at Twilio.&nbsp;<a href="https://viso.ai/" rel="noopener noreferrer" target="_blank">Viso</a>, a no-code computer vision platform that streamlines the development and deployment of vision-based enterprise applications, significantly accelerating the process from months to just days, has successfully secured $9.2 million in a seed round. The funding round was spearheaded by Accel and featured participation from angel investors such as Mehdi Ghissassi, Mihai Faur, Remy Lazarovici, James Isilay, and Stef van Grieken. This investment will aid Viso in further advancing its innovative solution.&nbsp;<a href="https://www.memox.com/en/" rel="noopener noreferrer" target="_blank">Memox</a>, a Zurich-based company specializing in meeting and conference rooms, has secured €2.8 million in Series A funding to support the continued expansion of its office locations in the DACH region. This funding round was led by Swiss Prime Site and 41 Group, with participation from investors in various sectors, including real estate, technology, and investment banking.&nbsp;<a href="https://www.thelandbankinggroup.com/" rel="noopener noreferrer" target="_blank">The Landbanking Group</a> has successfully raised $11 million in Seed funding. This funding round was spearheaded by BonVenture and André Hoffmann and featured participation from investors such as 4P Capital, Vanagon, Planet A, the SUN Institute of the Deutsche Post Foundation, as well as several angel investors and family offices, including notable figures like Prince Maximilian of Liechtenstein, Alexa Firmenich, Jan-Hendrik Goldbeck, and Fabian Strüngmann.&nbsp;<a href="https://www.likeminded.care/" rel="noopener noreferrer" target="_blank">Likeminded</a>, a Berlin-based B2B digital mental health solution provider, has secured an additional €1.5 million in funding to complement its previous Seed funding round. Earlier this year, the healthtech startup successfully concluded a funding round amounting to €5.9 million. This new capital injection, aimed at accelerating Likeminded's growth, was provided by IBB Ventures and the family office N &amp; V Capital.&nbsp;<a href="https://www.circuli-ion.com/" rel="noopener noreferrer" target="_blank">Circu Li-ion</a>, a Luxembourg-based battery upcycling company dedicated to increasing the value of batteries for environmental sustainability, has announced an €8.5 million seed round. This recent funding consists of €4.5 million in equity, led by BonVenture and supported by an undisclosed consortium of experts in batteries, AI, and industry, as well as a significant contribution from the company's management team. In addition, the investment is augmented by €4 million in grants from the European Innovation Council Accelerator (EICA) and through collaborations with recycling companies and original equipment manufacturers (OEMs), showcasing their commitment to a more eco-friendly future.&nbsp;<a href="https://www.kota.io/" rel="noopener noreferrer" target="_blank">Kota</a>, the employee insurance and retirement benefits platform based in Ireland and formerly known as Yonder, has successfully raised €5 million in a Seed funding round. EQT Ventures led this oversubscribed round, with participation from existing investors Northzone and Frontline Ventures. Additionally, notable figures such as Job Van Der Voort, Romain Huet, David Clarke, and others also joined in on the investment. The funding will enable Kota to expand and scale its operations throughout Europe.&nbsp;<a href="https://www.quantum-systems.com/" rel="noopener noreferrer" target="_blank">Quantum Systems</a>, a Bavaria-based company specializing in the development, manufacturing, and sale of AI-powered drone-robotics, has disclosed the successful completion of a Series B funding round, raising a substantial €63.6 million. With this latest funding, the company's total funding has now exceeded €100 million. HV Capital and DTCP spearheaded this funding round, with additional participation from Project A, Thiel Capital, ScaleUp Fonds Bayern, Omnes Capital, and Airbus Ventures.&nbsp;<a href="https://klu.ai/" rel="noopener noreferrer" target="_blank">Klu</a>, the UK-based platform for large language model applications, has secured $1.7 million in a pre-seed funding round. This round was led by Firstminute Capital and featured participation from a16z, Sequoia Capital, Craft Ventures, Atomico, as well as angel investors associated with Superhuman, IBM, Productboard, and other notable organizations.&nbsp;<a href="https://montinutra.com/" rel="noopener noreferrer" target="_blank">Montinutra</a>, a Finnish company specializing in the conversion of forest industry byproducts into sustainable and high-value natural biochemicals that serve as alternatives to fossil-based materials in the chemical and cosmetics sectors, has successfully raised €2 million in pre-Series A funding. This funding round was spearheaded by Metsä Spring, the corporate venture unit of Metsä Group, and saw participation from a syndicate of private investors.&nbsp;<a href="https://interlnkd.com/" rel="noopener noreferrer" target="_blank">InterLnkd</a>, a travel tech startup headquartered in London, has revealed the successful closure of a £1 million seed funding round. This round was led by Vanneck Ltd., a UK-based investment manager, with the involvement of other angel investors.&nbsp;<a href="https://goodbytz.com/en/home" rel="noopener noreferrer" target="_blank">Goodbytz</a>, a German foodtech startup, has secured €12 million in a Series A funding round with plans to expand its robotic kitchen assistants internationally. The funding round was primarily led by Oyster Bay, an early supporter of the company, and also included investment from Block Group, who are joining GoodBytz as new investors.&nbsp;<a href="https://wheere.io/" rel="noopener noreferrer" target="_blank">Wheere</a>, a startup based in Montpellier, France, specializing in indoor and outdoor location systems, has successfully raised €11 million in a new funding round. The investment was provided by Blast.Club, SOFILARO Capital Investissement, Bpifrance, and a group of business angels, which includes individuals such as Arnaud Frey, Adrien Montfort, and Jacques Arthur Essebag.---&nbsp;Newnex is the Digital-led Venture Capital platform. Get access to <a href="http://www.newnex.io/" rel="noopener noreferrer" target="_blank">www.newnex.io</a> Startups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

European Startups funded recently27 October 2023 <a href="https://www.lanes-planes.com/en/" rel="noopener noreferrer" target="_blank">Lanes &amp; Planes</a>, a prominent Germany-based company offering software-as-a-service (SaaS) solutions for corporate travel in Europe, has revealed that it secured €33 million in a Series B funding round. The round was spearheaded by U.S.-based Smash Capital, and saw the continued participation of existing investors including Battery Ventures, coparion, DN Capital, and AllIron.&nbsp;<a href="https://www.ampacimon.com/en/" rel="noopener noreferrer" target="_blank">Ampacimon</a>, a company based in Belgium that offers grid monitoring solutions for optimizing Transmission &amp; Distribution assets, revealed on Monday that it successfully raised €10 million in a Series C funding round. This round saw participation from a new investor, Junction Growth Investors, while continuing support came from existing investors including Korys, Noshaq, Creos, and Gesval.&nbsp;<a href="https://appwebel.com/" rel="noopener noreferrer" target="_blank">Webel</a>, a Spanish startup aiming to bring a wide range of services, from beauty to music lessons, personal training to dog grooming, directly to people's homes through its marketplace, has successfully secured €2.1 million in a Seed funding round. Leading the round is Trind Ventures, with contributions from Zaka Ventures (making its first investment in Spain), Decelera Ventures, Tiburon Ventures, and angel investors like Hugo Arévalo and more. Currently, Webel is providing over 100,000 services annually in Madrid, Barcelona, and Zaragoza and plans to use this funding to expand its services marketplace further.&nbsp;Gaming company <a href="https://www.zeedz.io/" rel="noopener noreferrer" target="_blank">Zeedz</a> recently disclosed a $1 million Seed funding round alongside the global launch of its free-to-play (F2P) game, also named Zeedz, on Android and iOS app stores. The investment was spearheaded by the panel members of Germany's "Shark Tank" show, known as "Die Höhle der Löwen," featuring renowned entrepreneurs and investors like Carsten Maschmeyer, Tillman Schulz, and Dagmar Wöhrl. <a href="https://www.iwoca.co.uk/" rel="noopener noreferrer" target="_blank">iwoca</a>&nbsp;, a small business lender based in London, has successfully obtained a fresh debt facility of £200 million through Barclays and Värde Partners. This development follows an extension of their existing funding arrangement earlier this year from neobank Bunq's sole external supporter, Pollen Street Capital, which increased the line of credit from £125 million to £170 million. With this additional funding, the SME lender's total debt financing now exceeds £850 million.&nbsp;<a href="https://klimate.co/" rel="noopener noreferrer" target="_blank">Klimate</a> a company based in Copenhagen, has announced the successful raising of €3.5 million in a Seed funding round. The round was led by Eneco Ventures and Helen Ventures, with participation from existing investors, including Rockstart and the Export and Investment Fund of Denmark.&nbsp;<a href="https://www.creativeforce.io/" rel="noopener noreferrer" target="_blank">Creative Force</a>, a Danish company specializing in an end-to-end creative operations workflow platform for e-commerce retailers and brands, has reported a successful $8.9 million Series A funding round. The funding was provided by the Export and Investment Fund of Denmark (EIFO) and Hearst Ventures, the global venture capital division of Hearst. With this latest investment, the company's total funding now stands at $17.9 million.&nbsp;<a href="https://www.homediq.com/en/" rel="noopener noreferrer" target="_blank">Homed-IQ</a>, a medical technology (medtech) company, has revealed that it secured a €1 million investment from Healthy Capital along with private investors&nbsp;Amsterdam's <a href="https://www.pulsesport.tech/" rel="noopener noreferrer" target="_blank">PULSE Sport,</a> a platform for athlete performance monitoring and sports management, has announced the receipt of its first investment of €250,000 in a pre-seed funding round from SportInnovator. PULSE Sport plans to use this investment to further develop their pilot phases, improve their organizational infrastructure, enhance their lab facilities, and ensure a steady supply of essential materials.&nbsp;<a href="http://www.merqato.eu/" rel="noopener noreferrer" target="_blank">Merqato,</a> a data and market intelligence company based in Amsterdam, has disclosed that it secured a €350,000 convertible loan from Innovatiefonds Noord-Holland.&nbsp;<a href="https://www.checkhub.io/" rel="noopener noreferrer" target="_blank">CheckHub</a>, a prominent Software-as-a-Service (SaaS) provider based in Brussels, has unveiled the successful raising of €1 million in a recent funding round. The round was spearheaded by the existing shareholder Cofinpar, and it saw participation from the majority of existing shareholders as well as three new investors. CheckHub offers a cloud-based platform that automates manual tasks associated with creating files during the onboarding process for employees, customers, or users.&nbsp;<a href="https://www.apartool.com/en/" rel="noopener noreferrer" target="_blank">Apartool</a>, a prominent B2B provider of corporate housing solutions, has officially completed a Series A funding round worth €5.5 million. This investment was spearheaded by Spanish fund Barlon Capital and European fund ROCH Ventures, and it also included participation from Telegraph Hill Capital (THCAP), Finaves (IESE), Iberis Capital, and other contributors. The funds raised in this round will be used to facilitate the scale-up's growth, as it has achieved a doubling of its turnover each year since 2019 and anticipates reaching €15 million in revenue by 2023.&nbsp;<a href="https://www.poppins.io/" rel="noopener noreferrer" target="_blank">Poppins</a>, a healthtech company previously known as Mila, has revealed an €8 million financing round led by Eurazeo, with participation from Verve Ventures, Allianz France, and HEC Ventures. This funding round brings the company's total funding to €12.9 million. Founded in 2018 and originating from École Polytechnique, Poppins focuses on addressing neurodevelopmental disorders in children. They have launched a therapeutic program for families with children experiencing specific learning difficulties such as dyslexia, dysorthographia, and dyscalculia.&nbsp;<a href="https://fentech.ai/" rel="noopener noreferrer" target="_blank">Fentech</a>, a sales forecasting company, has reported raising €1.2 million in funding, with Elaia as the lead investor. Fentech specializes in an AI system named Clairvoyant, designed for sales forecasting. This technology empowers retail companies to adjust to volatile economic conditions and increasing inflation rates.&nbsp;<a href="https://www.nold.app/" rel="noopener noreferrer" target="_blank">NOLD</a>, a UK-based fashion resale peer-to-peer startup, has announced the successful raising of €1 million in Seed funding. Tilia Impact Ventures led the funding round, with support from a consortium of venture capital and strategic investors, which includes Depo Ventures, Czech Founders, Sofia Angels Ventures, New Vision 3, and four angel investors. NOLD is dedicated to promoting a fashion circular economy by assisting sustainable, premium luxury brands in creating additional revenue streams through the monetization of the second-hand market.&nbsp;<a href="http://www.cloover.co/" rel="noopener noreferrer" target="_blank">Cloover</a>, a climate fintech startup with Swedish and Swiss roots, has disclosed that it successfully raised €7 million in a pre-seed funding round. The funding was spearheaded by 9900 Capital, a group with former investors from the Gates Foundation and Hedosophia, and included participation from QED, Broadhaven Ventures, Index Ventures' Scout Fund, Centrotec, as well as notable climate and fintech angel investors. Cloover offers a platform that enables vendors of renewable energy technologies to provide their services through a subscription model.&nbsp;<a href="https://www.aindo.com/" rel="noopener noreferrer" target="_blank">Aindo</a>, a generative AI startup headquartered in Italy, has confirmed the successful closure of a €6 million Series A funding round. United Ventures led the round, and it also saw participation from existing investor Vertis SGR through the Vertis Venture 3 Technology Transfer. Aindo's primary mission is to enhance the value and privacy of AI. The company aspires to take a leadership position in synthetic data and transform data mobility, emphasizing secure and privacy-focused information sharing. This funding will support Aindo in growing its team and creating AI solutions for the healthcare, finance, and public administration sectors.&nbsp;<a href="https://www.skoon.world/" rel="noopener noreferrer" target="_blank">Skoon Energy</a>&nbsp;, a software platform powered by AI for clean mobile energy, has secured €5 million in Series A funding. The round was led by North American VC Blue Bear Capital and included participation from the Graduate Entrepreneur Fund. This Series A funding builds on previous investments from notable backers such as Kees Koolen, an early investor and CEO of Booking.com, former COO of Uber; Damen Shipyards, one of the Netherlands' oldest family-run maritime services companies; and Rabobank, a prominent banking institution in the Netherlands.&nbsp;<a href="https://www.inuru.com/" rel="noopener noreferrer" target="_blank">Inuru</a>, a Berlin-based company, has reported securing $10 million in funding, highlighting the increasing confidence in the company's cost-effective OLED (Organic Light-Emitting Diode) technology. The funding was provided by Aper Ventures, Adamed Technology (the venture capital division of Polish pharmaceutical company Adamed Pharma), ARIA, and a consortium of business angels.&nbsp;<a href="https://www.healthcaters.ai/" rel="noopener noreferrer" target="_blank">HealthCaters</a>, a pioneering German startup focused on transforming healthcare with disease prevention tools, has revealed a successful €1.2 million seed funding round. The round was led by Barmenia Next Strategies and included participation from Venpace, DvH Ventures, and angel investor Philipp Götting.&nbsp;<a href="https://bikmo.com/uk/" rel="noopener noreferrer" target="_blank">Bikmo</a>, a specialized bike insurer in the UK, has secured £3.4 million in a Series A extension round aimed at fueling their expansion across Europe. The funding is spearheaded by Puma Private Equity, with Kelvin Reader, Investment Director, expressing their enthusiasm for the investment.&nbsp;Delft-based fabless semiconductor company, <a href="https://qualinx.io/" rel="noopener noreferrer" target="_blank">Qualinx</a>, has announced that it secured $10.2 million in a Series A extension round of funding, bringing the total funding for their Series A round to $20 million. This investment was provided by existing investors FORWARD.one, InnovationQuarter Capital, and Waterman Ventures, and also includes an Innovation Credit facility from the Netherlands Enterprise Agency, RVO.&nbsp;Amsterdam-based&nbsp;<a href="https://www.overstory.com/" rel="noopener noreferrer" target="_blank">Overstory</a>, a worldwide vegetation intelligence platform, has confirmed the successful raising of $14 million in a Series A funding round. The round was led by B Capital and saw participation from notable investors such as The Nature Conservancy, Convective Capital, Semapa Next, Bentley iTwin Ventures, Pale Blue Dot, CapitalT, Moxxie Ventures, and Overwater Ventures.&nbsp;<a href="https://mediatool.com/" rel="noopener noreferrer" target="_blank">Mediatool</a>, a media management platform based in Stockholm, has revealed that it secured €7 million in a recent funding round. This round included two new investors, Fairpoint Capital, a B2B technology Venture Capital investor, and eEquity, a growth investor, joining the existing backers Newion, J12, Almi Invest, and Twig who have previously invested in the company.&nbsp;<a href="https://www.ankra.io/" rel="noopener noreferrer" target="_blank">Ankra</a>, a cloud infrastructure automation platform headquartered in Stockholm, has reported raising €1.1 million in a pre-seed funding round. The round was led by UK-based B2B investor Superseed and included participation from prominent angel investors in the industry. Newnex is the Digital-led Venture Capital platform. Get access to <a href="http://www.newnex.io/" rel="noopener noreferrer" target="_blank">www.newnex.io</a> Startups: Centralize fundraising and reach institutional investors at scale.Institutional Investors: Scale your collaborative investing and co-investment partners. Making private-deal making happen.Leverage a host of enterprise features including Investor Relations, Portfolio Management and Contacts streamlined.

Newnex's round-up of Startups Funded12 September 2023 London-based fintech company <a href="https://opna.earth/" rel="noopener noreferrer" target="_blank">Opna</a>, formerly known as Salt, has disclosed a $6.5 million seed funding round. The raised capital will be utilized to enhance awareness of the financing platform, which is dedicated to providing funding for global carbon projects, and to further develop the platform's proprietary risk engine. Atomico, led by Terese Hougaard, spearheaded the round. Other participants included Cristina Stenbeck, former Gainsight COO; Allison Pickens, Board Director at DBT Labs (formerly Fishtown Analytics); Luke Griffiths, former Chief Commercial Officer at Klarna; and Stijn Christiaens, co-founder of Collibra. Opna (formerly Salt) also has support from previous investors like Pale Blue Dot, MCJ Collective, Angelinvest, and Tiny VC.&nbsp;&nbsp;UK-based deeptech AI security startup,&nbsp;<a href="https://mindgard.ai/" rel="noopener noreferrer" target="_blank">Mindgard</a>&nbsp;has raised £3 million in a seed funding round to accelerate growth as it launches its platform and expands operations in the UK. Investing in the round were&nbsp;IQ Capital&nbsp;and&nbsp;Lakestar.&nbsp;<a href="https://www.wearejude.com/" rel="noopener noreferrer" target="_blank">Jude</a>, a London-based startup focused on bladder health, has successfully raised $4.24 million in a seed funding round, led by Eka VC and Joyance, with continued support from June Angelides at Samos VC and Dr. Fiona Pathiraja of Crista Galli Ventures. Jude has also received a grant from Innovate UK, and existing backers include Access VC, Reckitt’s innovation fund, Echo Pharmacy founder Stephen Bourke, and David Rowan, founder at VOYAGERS and founding editor-in-chief of WIRED UK. Swedish energy storage firm <a href="https://polarium.com/" rel="noopener noreferrer" target="_blank">Polarium</a> announced that it has secured €36.7M in funding in a rights issue directed towards their majority owners Stefan Jansson Global Invest, Vargas Holding, AMF, and Alecta. Polarium says the funds will help the company continue its growth and expansion plans. London-based HR Tech startup <a href="https://www.getkoios.ai/" rel="noopener noreferrer" target="_blank">Koios</a>, has exited stealth mode and revealed a $550,000 pre-seed funding round. The company leverages voice-driven AI algorithms to provide personality insights, facilitating improved teamwork and efficiency for managers and teams in terms of both time and cost. Seedcamp led the pre-seed funding round, with participation from Evolvient Capital and undisclosed angel investors. Koios plans to launch its platform in September and will use the capital to further develop its offerings.&nbsp;Geleen, The Netherlands-based <a href="https://resolved-tech.com/" rel="noopener noreferrer" target="_blank">ReSolved Technologies</a> has secured €1M in a Seed round of funding from Brightlands Venture Partners and the ifund Foundation.&nbsp;The Dutch company states that the funding will allow it to produce recyclates suitable for a range of applications, including electronic equipment, automotive uses, and the building and construction industry.&nbsp;<a href="https://rig.dev/" rel="noopener noreferrer" target="_blank">Rig.dev</a>, a company based in Aarhus, Denmark, specializing in an open-source application platform for Kubernetes, has revealed that it successfully raised €2 million in a pre-seed funding round. This funding round is noteworthy as one of the largest pre-seed rounds in Denmark. The investment was a combination of prominent VC funds, including byFounders, Dreamcraft, and NP-Hard Ventures, as well as smaller venture funds and individual business angels. Berlin-based climate tech firm <a href="https://www.nuventura.com/" rel="noopener noreferrer" target="_blank">Nuventura</a> has successfully secured €25 million in a Series A funding round. The company specializes in offering SF6-free medium-voltage (MV) gas-insulated switchgear (GIS) technologies, providing an environmentally friendly alternative to SF6 (Sulphur hexafluoride), a potent greenhouse gas with 25,200 times more global warming potential than carbon dioxide. SF6 is commonly used in electrical grids and energy infrastructure. This funding round was led by Mirova, which utilized its impact private equity fund, Mirova Environment Acceleration Capital. Joining as new investors in this round are Forward.one and EIC Fund, alongside existing investors IBB Ventures, ADB Ventures, Cycle Group, Future Energy Ventures, and DOEN Participaties. The fresh capital infusion will support Nuventura's product lineup expansion and enable global manufacturing opportunities.&nbsp;Bayern-based, <a href="https://e-mobilio.de/" rel="noopener noreferrer" target="_blank">e-mobilio</a>, a cloud-based platform that offers recommendations and facilitates the transition of drivers to electric mobility, has announced the successful completion of a €9.5 million Series A funding round. This round was led by SET Ventures, a company based in Amsterdam, and also included participation from previous investors such as Übermorgen Ventures, Wi Venture, seed+speed Ventures, Gateway Ventures, and the German family office zwei.7. Delft-based quantum technology startup <a href="https://orangeqs.com/" rel="noopener noreferrer" target="_blank">Orange Quantum Systems</a> has announced the successful completion of a €1.5 million pre-seed funding round. The round was co-led by QDNL Participations and Cottonwood Technology Fund. Orange Quantum Systems (Orange QS) plans to utilize the newly acquired funds for the development of its next-generation quantum chip test equipment. This innovative solution will be the first turnkey offering specifically optimized for high-speed qubit testing, with a focus on serving the emerging quantum industry market.&nbsp;London-based direct-to-consumer dog food brand <a href="https://butternutbox.com/" rel="noopener noreferrer" target="_blank">Butternut Box</a>&nbsp;has raised £280 million in its latest funding round. New investor General Atlantic led the round with existing investor private equity firm L Catterton participating. The company enjoys support from several other backers, including White Star Capital, Five Seasons Ventures, HSBC, Literacy Capital, Blackrock's Kreos Capital, and Passion Capital. Dutch microalgae producer <a href="https://phycom.eu/" rel="noopener noreferrer" target="_blank">Phycom</a> has successfully secured over €9 million in investments from its key partners. This infusion of funds will enable the company to significantly scale up its production of consistently high-quality microalgae on an industrial level. Notable investors in this endeavor include Corbion, Phase2.earth, Invest-NL, and Invest International. Phycom plans to utilize this new capital to expand its marketing efforts and support the development of its technology.&nbsp;In a Series A funding round, the Norwegian anti-money laundering (AML) intelligence software company <a href="https://www.strise.ai/" rel="noopener noreferrer" target="_blank">Strise</a> has successfully secured $10.8 million in funding. Atomico spearheaded this current funding round, and it also saw the participation of existing investors such as Curiosity, Maki.vc, Sondo Capital, and Likeminded. In addition, a group of notable angel investors contributed to this round, including Camilla Giesecke (COO of Klarna), Phil Chambers (founder of Peakon, which was later acquired by Workday), Francois Callens (former CFO of Depop), Marcus Krylborn (an expert in growth at Snap), Riya Grover (CEO and co-founder of Sequence), and Allison Pickens (former COO of Gainsight). Swiss SaaS workplace management firm <a href="https://www.deskbird.com/" rel="noopener noreferrer" target="_blank">deskbird</a> is embarking on an extensive expansion across Europe, with plans to target the US and other markets, following a recent $13 million Series A fundraising round. The funding round was led by ALSTIN Capital and AVP (AXA Venture Partners), and it also featured participation from previous investors, including session.vc, Rivus Capital, and PortfoLion. <a href="https://envisics.com/" rel="noopener noreferrer" target="_blank">Envisics</a>, the UK-based automotive holographic technology firm, has successfully concluded its Series C funding round, raising a total of $100 million.The recent funding round for Envisics included an additional investment from new backer M&amp;G Investments and continued support from existing investor Van Tuyl Companies. Bayreuth-based MedTech startup <a href="https://incontalert.de/de/home/" rel="noopener noreferrer" target="_blank">inContAlert</a> has secured EUR 1.5 million in Pre-Seed funding. High-Tech Gründerfonds and Carma Fund led the funding round, with additional participation from Bayern Kapital and notable angel investors from the medical technology domain, such as Prof. Dr. Thomas Gottwald, Dr. Jörg Stein, Richard Reiber, and Marcus Irsfeld.&nbsp;French MedTech startup <a href="https://www.gradientdenervation.com/" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 112, 192);">Gradient Denervation Technologies</a> has secured €14 million in a Series A funding round. The financing was spearheaded by Asabys Partners through its newly created fund, Sabadell Asabys II. Thuja Capital and Gradient's original investor, Sofinnova Partners, also participated in the fundraising.&nbsp;Lithuanian-British aviation tech startup <a href="https://www.wesky.aero/#product" rel="noopener noreferrer" target="_blank">WeSky</a> is enhancing in-flight experiences by developing its in-house cabin avionics system. Thanks to the lightweight design of their rechargeable product, which reduces overall cabin weight, fuel consumption will be lowered. Founded by Vytis Petrusevičius, the startup has successfully raised €1.1 million in a funding round. This round includes investments from Coinvest Capital, Baltic Sandbox Ventures, and existing investors Notarc Management Group, along with participation from an angel syndicate. The newly acquired funding will support testing on functional aircraft by the first quarter of 2024 and expand international sales efforts. Assen, the Netherlands-based <a href="https://www.vipio.com/en" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 112, 192);">Vipio</a>, an online booking platform, has secured €4M in funding from Dutch investment company NOM.&nbsp;&nbsp;The company says it will use the funds to accelerate its platform and international expansion. The company is recruiting talent, including software developers, online marketers, and sales professionals.&nbsp;Sweden's <a href="https://www.h2greensteel.com/" rel="noopener noreferrer" target="_blank">H2 Green Steel</a> has secured approximately €1.5 billion in equity funding to support the construction of the world's inaugural large-scale green steel plant, as well as Europe's premier giga-scale electrolyser. The funding round was jointly led by new investor Hy24 and existing investors Altor, GIC, and Just Climate. The investor group also includes new participants such as Andra AP - fonden and Temasek, along with continuing support from AMF, Cristina Stenbeck, Hitachi Energy, IMAS Foundation, Kinnevik, Schaeffler, Vargas, and Wallenberg Investments' holding company FAM.&nbsp;Swedish fintech firm <a href="https://www.treyd.io/" rel="noopener noreferrer" target="_blank">Treyd</a>, which offers upfront supplier payment solutions for retail businesses, has experienced significant growth following its $10 million Series A funding round in March 2022. The latest round is led by Swedish investment company Nineyards Equity, along with participation from Antler, Zenith VC, and J12 Ventures. London-based e-commerce software provider <a href="https://shopcircle.co/" rel="noopener noreferrer" target="_blank">Shop Circle</a> has reported a successful Series A funding round, raising $120 million (approximately €111.6 million). The funding round was led by 645 Ventures and 3VC and also included participation from previous investors QED Investors and NfX. The funding was secured through a strategic combination of equity and debt, with the i80 Group providing a credit facility.----Startups and Investors get access to centralized fundraising and collaborative investing platform - SignUp to&nbsp;<a href="http://www.newnex.io/" rel="noopener noreferrer" target="_blank" style="color: rgb(17, 85, 204);">www.newnex.io</a>

Newnex News - Startups funded / 12 September 23

The India opportunity: India's GDP&nbsp;reached&nbsp;a significant milestone&nbsp;of $3.75 trillion in&nbsp;2023, solidifying&nbsp;its position as the fifth largest economy globally.&nbsp;Additionally, India surpassed China to become&nbsp;the world's most populous&nbsp;nation.&nbsp; <a href="https://www.goldmansachs.com/intelligence/pages/how-india-could-rise-to-the-worlds-second-biggest-economy.html" rel="noopener noreferrer" target="_blank">Goldman Sachs has now projected</a> that India will surpass the United States and become the 2nd largest economy by 2075.&nbsp; <blockquote>Country - GDP (population)</blockquote><blockquote>China - $57 trillion (1.2 bn)</blockquote><blockquote>India - $52.5 trillion (1.5 -1.6 bn)</blockquote><blockquote>USA - $51.5 trillion (0.375 bn)</blockquote> While the United States is expected to maintain the highest per capita income among the 3 economies, due to its similar GDP size but significantly lower population, India and China are expected to experience dramatic growth over the next five decades. This positions India as a land of immense opportunity. Goldman Sachs' finds several positive drivers behind India's projected growth: PopulationWith approximately 67% of the population below the retirement age of 64 in 2023, India is in a favourable position to leverage on its demographic dividend. Over the next 20 years, India has a unique window during which dependency ratios is project to decline. Furthermore, the demographic transition in India is expected to be more gradual compared to other Asian countries, leading to increased savings rates among the population. Capital InvestmentThe Indian government has prioritized infrastructure development over the past decade and this trend is expected to continue into the future. This positions India favourably for private investor and foreign direct investment participation, contributing to the nation's progress. Domestic-demand Driven EconomyUnlike many other Asian countries, India has a robust domestic-demand driven economy. In 2023, domestic consumption accounted for approximately 50% of India's economic activity, and this figure is projected to grow. This reduced reliance on exports for economic growth is a significant advantage. India's Private SectorThe private sector plays a crucial role in India's growth story, contributing to both physical and digital infrastructure development. Companies such as Reliance, Tata, Wipro, and Adani are already well-positioned, with more innovative companies and conglomerates expected to thrive across various sectors, from services to digital innovation. The Digital EconomyIndia's software capabilities are widely recognized, but lesser-known internationally but highly impactful innovations such as the Aadhar card (digital biometric identification) and UPI (digital payments) are changing the country profoundly. Such innovations by both the government and the private industry at a billion population scale will accelerate the efficiency and effectiveness of India's growth. Despite the immense positive outlook, challenges remain. The key ingredient for India's success lies in productivity&nbsp;growth and the success in bringing more population into the real economy. To achieve this, it is essential to encourage greater workforce participation, especially by women. Furthermore, innovative approaches are necessary to develop and up-skill the Indian workforce to meet the dynamic requirements of the economy. The remarkable growth prospects of India and the on-going transition in its economy present an incredible opportunity for both domestic and international actors to participate in the India growth story. The projected trajectory of India's GDP, coupled with its favourable demographic dividend, investment focus, domestic-demand driven economy, thriving private sector, and digital innovation potential, places the country as a promising destination for global investments, collaborations, and engagement. ---Praveen Paranjothi is the CEO of Newnex, the digital-led VC, and the driving force behind Startup Europe India Network and India Techspora.

India to become the 2nd largest economy in 50 years - Goldman Sachs

Important news and events are happening every day. However, some news are more important than others, such as Warren Buffett's Annual Letter or the recent SVB crash. These important events make enormous news and disappear from our immediate memory as we go about our daily grind. But, these news ought to be regularly remembered for sound decision making. We therefore hope that the news we gather here would be an important and timely reference for you.
If we are missing anything, send us a message on Newnex or email to <a href="mailto:news@newnex.io" rel="noopener noreferrer" target="_blank">news@newnex.io</a>.
March 2023
NATO Innovation Fund 
1. Investment Management Team HQ to be in Netherlands <a href="https://www.nato.int/cps/en/natohq/news_213002.htm#hommels" target="_blank" rel="noopener noreferrer">nato.int/cps/en/natohq/news_213002.htm#hommels</a>
Credit Suisse sold to UBS
1. UBS buys Credit Suisse for $3.2bn - end of an era
<a href="https://www.cnbc.com/2023/03/19/ubs-agrees-to-buy-credit-suisse-as-regulators-look-to-shore-up-global-banking-system.html" rel="noopener noreferrer" target="_blank">cnbc.com/2023/03/19/ubs-agrees-to-buy-credit-suisse-as-regulators-look-to-shore-up-global-banking-system.html</a>
<a href="https://www.ubs.com/global/en/media/display-page-ndp/en-20230319-tree.html" rel="noopener noreferrer" target="_blank">ubs.com/global/en/media/display-page-ndp/en-20230319-tree.html</a>
2. Analysis of the takeover
<a href="https://www.imd.org/ibyimd/finance/credit-suisse-how-the-mighty-fell/" rel="noopener noreferrer" target="_blank">imd.org/ibyimd/finance/credit-suisse-how-the-mighty-fell</a>
First Republic Bank's woes
1. First Republic Bank secures $30bn of deposits in rescue from other banks <a href="https://www.bloomberg.com/news/articles/2023-03-16/us-pushes-first-republic-rescue-with-big-banks-after-stock-slump?leadSource=uverify%20wall" rel="noopener noreferrer" target="_blank">bloomberg.com/news/articles/2023-03-16/us-pushes-first-republic-rescue-with-big-banks-after-stock-slump?leadSource=uverify wall</a>
2. SVB contagion affects First Republic Bank <a href="https://www.wsj.com/articles/first-republic-bank-stock-rescue-what-to-know-a22a3d" rel="noopener noreferrer" target="_blank">wsj.com/articles/first-republic-bank-stock-rescue-what-to-know-a22a3d</a>
Samsung to invest $260bn in world's largest chip making base <a href="https://nationaltechnology.co.uk/Samsung_Worlds_Largest_Chip_Making_Base.php" rel="noopener noreferrer" target="_blank">nationaltechnology.co.uk/Samsung_Worlds_Largest_Chip_Making_Base.php</a>
Larry Fink (Blackrock) letter to shareholders
1. Annual letter to Investors <a href="https://www.blackrock.com/corporate/investor-relations/larry-fink-annual-chairmans-letter" rel="noopener noreferrer" target="_blank">blackrock.com/corporate/investor-relations/larry-fink-annual-chairmans-letter</a>
Credit Suisse collapse
1. Credit Suisse to borrow up to $54bn from Swiss central bank to prop up the bank <a href="https://www.ft.com/content/adb74b25-ee03-4bdd-8c7a-4dcc6c95fcac" rel="noopener noreferrer" target="_blank">ft.com/content/adb74b25-ee03-4bdd-8c7a-4dcc6c95fcac</a>
2. Shares in the Swiss lender plunged more than 30% at one point on Wednesday to <a href="https://www.theguardian.com/business/2023/mar/15/credit-suisse-shares-fall-low-top-investor-funding-saudi-national-bank" title="a record low of about 1.56 Swiss francs (£1.40) a share">a record low of about 1.56 Swiss francs (£1.40) a share</a> <a href="https://www.theguardian.com/business/2023/mar/15/credit-suisse-what-is-happening-at-swiss-bank-and-should-we-be-worried" rel="noopener noreferrer" target="_blank">theguardian.com/business/2023/mar/15/credit-suisse-what-is-happening-at-swiss-bank-and-should-we-be-worried</a>
Silicon Valley Bank crash reverberates across the world
1. European regulators criticise US ‘incompetence’ over Silicon Valley Bank collapse <a href="https://www.ft.com/content/5e4a8dde-c053-4510-8cd9-8aecb9082a6e" rel="noopener noreferrer" target="_blank">ft.com/content/5e4a8dde-c053-4510-8cd9-8aecb9082a6e</a>
2. SVB’s Collapse Is Causing Chaos in India’s Tech Sector <a href="https://www.wired.co.uk/article/svbs-collapse-is-causing-chaos-in-indias-tech-sector" rel="noopener noreferrer" target="_blank">wired.co.uk/article/svbs-collapse-is-causing-chaos-in-indias-tech-sector</a>
3. Bank of England's statement on Silicon Valley Bank <a href="https://www.bankofengland.co.uk/news/2023/march/statement-on-silicon-valley-bank" rel="noopener noreferrer" target="_blank">bankofengland.co.uk/news/2023/march/statement-on-silicon-valley-bank</a>
4. SVB protected by US regulators <a href="https://www.cnbc.com/2023/03/12/regulators-unveil-plan-to-stem-damage-from-svb-collapse.html" rel="noopener noreferrer" target="_blank">cnbc.com/2023/03/12/regulators-unveil-plan-to-stem-damage-from-svb-collapse.html</a>
5. Why was there a run on Silicon Valley Bank? <a href="https://noahpinion.substack.com/p/why-was-there-a-run-on-silicon-valley" rel="noopener noreferrer" target="_blank">noahpinion.substack.com/p/why-was-there-a-run-on-silicon-valley</a>
6. SVB collapses after failing to raise capital <a href="https://noahpinion.substack.com/p/why-was-there-a-run-on-silicon-valley" rel="noopener noreferrer" target="_blank">noahpinion.substack.com/p/why-was-there-a-run-on-silicon-valley</a>
7. Banks are designed to fail, and they do <a href="https://www.ft.com/content/09bfbb8d-22f5-4c70-9d85-2df7ed5c516e" rel="noopener noreferrer" target="_blank">ft.com/content/09bfbb8d-22f5-4c70-9d85-2df7ed5c516e</a>
8. SVB collapse explained by Nobel Prize winner <a href="https://finance-yahoo-com.cdn.ampproject.org/c/s/finance.yahoo.com/amphtml/news/economist-won-nobel-bank-runs-160025143.html" rel="noopener noreferrer" target="_blank">finance-yahoo-com.cdn.ampproject.org/c/s/finance.yahoo.com/amphtml/news/economist-won-nobel-bank-runs-160025143.html</a>
Signature Bank collapsed
1. Signature Bank becomes next casualty of banking turmoil <a href="https://www.reuters.com/business/finance/new-york-state-regulators-close-signature-bank-2023-03-12/" rel="noopener noreferrer" target="_blank">reuters.com/business/finance/new-york-state-regulators-close-signature-bank-2023-03-12</a>
UK launches £370m support to make UK a tech super power <a href="https://www.artificialintelligence-news.com/2023/03/06/370m-plan-launched-to-turn-uk-into-tech-superpower/" rel="noopener noreferrer" target="_blank">artificialintelligence-news.com/2023/03/06/370m-plan-launched-to-turn-uk-into-tech-superpower</a>
Cryptobank Silvergate has collapsed
1. Silvergate collapsed <a href="https://www.theverge.com/2023/3/8/23631320/silvergate-wind-down-liquidiation-announcement" rel="noopener noreferrer" target="_blank">theverge.com/2023/3/8/23631320/silvergate-wind-down-liquidiation-announcement</a>
February 2023
ChatGPT race
1. ChatGPT breaks record with 100million users <a href="https://dailyinvestor.com/world/8520/chatgpt-breaks-record-with-100-million-users-and-investors-come-flocking" rel="noopener noreferrer" target="_blank">dailyinvestor.com/world/8520/chatgpt-breaks-record-with-100-million-users-and-investors-come-flocking</a>
2. Google invests $300m in ChatGPT rival Claude <a href="https://www.theverge.com/2023/2/3/23584540/google-anthropic-investment-300-million-openai-chatgpt-rival-claude" rel="noopener noreferrer" target="_blank">theverge.com/2023/2/3/23584540/google-anthropic-investment-300-million-openai-chatgpt-rival-claude</a>
3. European Tech Champions Initiative (ETCI) launched along with 5 EU countries (Fund-of-funds) <a href="https://www.reuters.com/business/five-eu-countries-eib-launch-fund-help-promising-tech-companies-grow-2023-02-13/" rel="noopener noreferrer" target="_blank">reuters.com/business/five-eu-countries-eib-launch-fund-help-promising-tech-companies-grow-2023-02-13</a>
January 2023
ChatGPT
1. Microsoft confirms $10bn investment in OpenAI/ChatGPT <a href="https://www.forbes.com/sites/qai/2023/01/27/microsoft-confirms-its-10-billion-investment-into-chatgpt-changing-how-microsoft-competes-with-google-apple-and-other-tech-giants/" rel="noopener noreferrer" target="_blank">forbes.com/sites/qai/2023/01/27/microsoft-confirms-its-10-billion-investment-into-chatgpt-changing-how-microsoft-competes-with-google-apple-and-other-tech-giants</a>
Carry over from 2022
Inflation Reducation Act (IRA)
1. The Inflation Reduction Act (IRA) is a reconciliation bill that unlocks $370 billion in climate and energy investment in the United States <a href="https://www.spglobal.com/commodityinsights/en/ci/research-analysis/the-ira-bill-sets-the-ground-for-an-acceleration-of-clean-ener.html" rel="noopener noreferrer" target="_blank">spglobal.com/commodityinsights/en/ci/research-analysis/the-ira-bill-sets-the-ground-for-an-acceleration-of-clean-ener.html</a>
2. The Inflation Reduction Act contains $500 billion in new spending and tax breaks that aim to boost clean energy, reduce healthcare costs, and increase tax revenues. <a href="https://www.mckinsey.com/industries/public-and-social-sector/our-insights/the-inflation-reduction-act-heres-whats-in-it" rel="noopener noreferrer" target="_blank">mckinsey.com/industries/public-and-social-sector/our-insights/the-inflation-reduction-act-heres-whats-in-it</a>

Market movers in Investments, Tech and Impact world (2023)

Several plans are afoot to make ocean based climate interventions without sufficiently studying the impact and risks associated with such interventions. More than 40% of the earth's biodiversity is in deep ocean. Climate interventions such as carbon sequestering or producing renewable energy in the sea are major interventions that require appropriate study and adaptation before adversely affecting the ocean. 
 
A group of international researches, as part of the Deep Ocean Stewardship Initiative's Climate Working Group, are now studying the &nbsp;(potentially irreversible) impact of ocean-based climate interventions.
<a href="https://phys.org/news/2023-03-potential-ocean-based-climate-intervention-technologies.html" rel="noopener noreferrer" target="_blank">phys.org/news/2023-03-potential-ocean-based-climate-intervention-technologies.html</a>
Highlights:
1. Several lines of evidence led experts to raise substantial concern and call for the need for an integrated research framework to consider deep-sea impacts carefully in mitigation planning.
2. E.g. Hypercapnia, a condition that occurs when the concentration of <a href="https://phys.org/tags/carbon+dioxide/" title="carbon dioxide">carbon dioxide</a> in the water exceeds certain thresholds can have negative impacts on <a href="https://phys.org/tags/marine+life/" title="marine life">marine life</a> and ecosystems.
3. Interventions could add further pressure and threaten the functioning of the diverse systemss, which are essential for the entire planet.
This study results have been published in Science. Before starting deep and irreversible interventions, a deeper study and debate is in order.

We don't know enough to intervene Ocean based climate interventions

SVB's plight has dealt a heavy blow for startups in critical operations. Startups have been responding to make options available for startups seeking emergency funding. We've tracked the following resources for a lifeline support as things get sorted by the powers-to-be.
Update from the US Fed: &nbsp;Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer....no losses will be borne by the taxpayer. <a href="http://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm" rel="noopener noreferrer" target="_blank">federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm</a>
1. Angellist Lifelife agreement and Bank account: <a href="https://lnkd.in/e7sRXxXm" title="https://lnkd.in/e7sRXxXm">https://lnkd.in/e7sRXxXm</a> <a href="https://www.linkedin.com/in/ACoAAAdcJ1MB2cCbqxweXlmC67-YEte0wt7G-rM" title="Sumukh Sridhara">Sumukh Sridhara</a> <a href="https://www.linkedin.com/company/angellist/" title="AngelList">AngelList</a> 
 
2. BREX (US based) emergency bridge loan 
 <a href="https://lnkd.in/eZPb5S-s" title="https://lnkd.in/eZPb5S-s">https://lnkd.in/eZPb5S-s</a> 
 <a href="https://www.linkedin.com/company/brexhq/" title="Brex">Brex</a> <a href="https://www.linkedin.com/in/ACoAAAcfbZ0Bb7nuZFvzyPDc4IM0DCFeM6PEX3I" title="Henrique Dubugras">Henrique Dubugras</a> 
 
3. Uncapped (UK based) emergency funding for payroll and emergencies. Email: <a href="mailto:svb-support@weareuncapped.com" title="svb-support@weareuncapped.com">svb-support@weareuncapped.com</a> 
 <a href="https://www.linkedin.com/company/weareuncapped/" title="Uncapped">Uncapped</a> <a href="https://www.linkedin.com/feed/hashtag/?keywords=revenuebasedfinancing&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A7040598658051923968" title="#revenuebasedfinancing">#revenuebasedfinancing</a> 
 <a href="https://lnkd.in/eDm8NVqX" title="https://lnkd.in/eDm8NVqX">https://lnkd.in/eDm8NVqX</a> 
 
4. Capchase - emergency payroll financing 
 <a href="https://lnkd.in/ezwMjz7W" title="https://lnkd.in/ezwMjz7W">https://lnkd.in/ezwMjz7W</a> 
 <a href="https://www.linkedin.com/company/capchase/" title="Capchase">Capchase</a>
5. GetVantage // Innovative Funding (India) - Up to $250k non-dilutive short-term working capital within 48hrs 
 <a href="https://bit.ly/403D8SN" title="https://bit.ly/403D8SN">https://bit.ly/403D8SN</a> 
 <a href="https://www.linkedin.com/company/getvantage/" title="GetVantage // Innovative Funding">GetVantage // Innovative Funding</a> <a href="https://www.linkedin.com/in/ACoAAAScb3IBYG4LHNiWqNBWfgFXT-cL6gDSWmE" title="Karun Arya">Karun Arya</a>

SVB Emergency funding availabilities (inc US Fed update)

Nature estimates that residential properties exposed to flood risk in the US are overvalued by US$121–US$237 billion, depending on the discount rate. Climate change and externalities are not generally accounted in financial, and economic pricing and risk management. We are only beginning to understand pricing climate impact. Nature has done an interesting study on unpriced climate risk in residential properties in the US.
The biggest risk in climate change with respect to residential properties in the US is flood risk. Flood risk is not accounted for due to lack of availability of related regulations, data and awareness. While the study is focused on the US, similar situation exists across the world wherein climate risks are not accounted for in property pricing.
Interesting observations in the study include:
1. Costs of climate risk is not only the physical damage to the properties but also how the property owners and others respond to the damage. Are the tax payers to bear the consequences or the damage individualized?
2. 14.6mn homes have at least 1% probability of climate risk resulting in potential annual damage risk of $32billion.
3. 4.6% is the average discount for properties in the 100-year floodzone. However, the study estiamtes that these properties are 8.5% overvalued on average (thus causing housing bubble to develop).
4. As the risk and costs are not fully priced-in, Municipaliteis that are heavily reliant on property taxes are particularly vulnerable for budgetary shortfalls. Some municipalities in the US are receiving more than 50% income via property taxes.
5. Low-income property owners are in particular risk of being economically affected due to property price deflation.
The study illustrates the property valuation methodology taking into account climate risk. Whilst this is a US focused study, the methodology and need to price in climate risk is apparent and applicable globally.
Link: <a href="http://www.nature.com/articles/s41558-023-01594-8" rel="noopener noreferrer" target="_blank">nature.com/articles/s41558-023-01594-8</a>

Nature estimates US housing prices overvalued by $237 billion without climate risks

We track weekly startup fundings in Europe, US, Middle East, India and South-East Asia. Send your announcements to <a href="mailto:news@newnex.io" title="news@newnex.io">news@newnex.io</a>
We tracked $500million this past week. Check our full-list of startup fundraisings of 2023: <a href="http://shorturl.at/joryB" rel="noopener noreferrer" target="_blank">shorturl.at/joryB</a>
UK based cultivated meat startup Multus raised $9.8 million <a href="https://www.imperial.ac.uk/news/242599/cultivated-meat-startup-multus-raises-79m/" rel="noopener noreferrer" target="_blank">imperial.ac.uk/news/242599/cultivated-meat-startup-multus-raises-79m</a>
US based healthcare employment matchmarket company Shiftkey raises $300m led by Lorient Capital. <a href="https://news.crunchbase.com/health-wellness-biotech/employment-shiftkey-fundraise/" rel="noopener noreferrer" target="_blank">news.crunchbase.com/health-wellness-biotech/employment-shiftkey-fundraise</a>
US based autonomous truck company Outrider raised $73m in a Series-B round participated by Abu Dhabi Investment Authority, Nvidia, New Enterprise Associates, Koch Industries <a href="https://www.reuters.com/business/autos-transportation/us-startup-outrider-raises-73-mln-scale-up-autonomous-yard-trucks-2023-01-19/" rel="noopener noreferrer" target="_blank">reuters.com/business/autos-transportation/us-startup-outrider-raises-73-mln-scale-up-autonomous-yard-trucks-2023-01-19</a>
South Korean hospitality startup Onda raised $10m Series-B round backed by TS Investment, NAU IB Capital, Industrial Bank of Korea, Square Ventures, K Bridge ventures and Breeze Investment <a href="https://www.phocuswire.com/south-korean-hospitality-tech-startup-raises-10-m" rel="noopener noreferrer" target="_blank">phocuswire.com/south-korean-hospitality-tech-startup-raises-10-m</a>
US based Web3 startup Obol Labs raised $12.5m Series-A round participated by Pantera, Archetype, ConsenSys <a href="https://www.coindesk.com/tech/2023/01/17/ethereum-startup-obol-labs-raises-125m-to-decentralize-validators/" rel="noopener noreferrer" target="_blank">coindesk.com/tech/2023/01/17/ethereum-startup-obol-labs-raises-125m-to-decentralize-validators</a>
US based climate tech startup Sublime Systems raised $40m in a round participated by Lowercarbon Capital, Energy Impact Partners, The Engine and Siam Cement Group <a href="https://www.bloomberg.com/news/articles/2023-01-17/boston-startup-raises-40-million-to-develop-low-carbon-cement?leadSource=uverify%20wall" rel="noopener noreferrer" target="_blank">bloomberg.com/news/articles/2023-01-17/boston-startup-raises-40-million-to-develop-low-carbon-cement?leadSource=uverify wall</a>
US based web-3 Syky raised $9.5m Series-A round participated by Seven Seven Six, Leadout Capital, First Light Capital, Polygon Ventures Group, Brevan Howard Digital <a href="https://www.voguebusiness.com/technology/digital-fashion-startup-syky-raises-dollar9-million-and-launches-first-nft" rel="noopener noreferrer" target="_blank">voguebusiness.com/technology/digital-fashion-startup-syky-raises-dollar9-million-and-launches-first-nft</a>
India based coffee startup Blue Tokai Coffee Roasters raised $30m Series-B in a round led by A91 Partners with participation in Grand Anicut Fund and 8i Ventures <a href="https://inc42.com/buzz/a91-partners-30-mn-funding-blue-tokai-coffee-roasters/" rel="noopener noreferrer" target="_blank">inc42.com/buzz/a91-partners-30-mn-funding-blue-tokai-coffee-roasters</a>
India based deeptech startup Chara raised $4.75m in pre-Series A round particpated by Exfinity Venture Partners, Big Capital, Bitexco, Log9 Materials and Kalaari Capital <a href="https://yourstory.com/2023/01/chara-deep-tech-startup-raises-475-m-dollars-pre-series-a-exfinity" rel="noopener noreferrer" target="_blank">yourstory.com/2023/01/chara-deep-tech-startup-raises-475-m-dollars-pre-series-a-exfinity</a>
India based fintech startup SayF raised $250k pre-seed round led by Titan Capital, Sunn91 Ventures <a href="https://www.vccircle.com/fintechstartup-sayf-raises-pre-seed-round-funding" rel="noopener noreferrer" target="_blank">vccircle.com/fintechstartup-sayf-raises-pre-seed-round-funding</a>
India based fintech startup NeoGrowth raised $10m Series-D extension round participated by MicroVest Capital Management <a href="https://www.vccircle.com/fintechstartup-neogrowth-raises-10-mn-from-microvest" rel="noopener noreferrer" target="_blank">vccircle.com/fintechstartup-neogrowth-raises-10-mn-from-microvest</a>
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$500 million Startup fundraisings this week (16 Jan)

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