Newnex's round-up of Startups Funded

12 September 2023

London-based fintech company Opna, 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. 

UK-based deeptech AI security startup, Mindgard 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 IQ Capital and Lakestar.

Jude, 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 Polarium 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 Koios, 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.

Geleen, The Netherlands-based ReSolved Technologies has secured €1M in a Seed round of funding from Brightlands Venture Partners and the ifund Foundation. 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.

Rig.dev, 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 Nuventura 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.

Bayern-based, e-mobilio, 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 Orange Quantum Systems 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.

London-based direct-to-consumer dog food brand Butternut Box 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 Phycom 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.

In a Series A funding round, the Norwegian anti-money laundering (AML) intelligence software company Strise 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 deskbird 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.

Envisics, 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&G Investments and continued support from existing investor Van Tuyl Companies.

Bayreuth-based MedTech startup inContAlert 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.

French MedTech startup Gradient Denervation Technologies 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.

Lithuanian-British aviation tech startup WeSky 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 Vipio, an online booking platform, has secured €4M in funding from Dutch investment company NOM.  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.

Sweden's H2 Green Steel 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.

Swedish fintech firm Treyd, 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 Shop Circle 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.

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