European Startups funded recently - Newnex Fortnight

23 January 2024

Newnex tracked $1.6+ billion in funding rounds over the past two weeks in European Venture Capital.

London-based software company Patchworks has secured £1.75 million in additional funding through a convertible loan note, with participation from Gresham House Ventures. This follow-on funding brings the total investment in Patchworks to £10.5 million, supporting the company in its mission to assist e-commerce businesses in automating and overseeing data flows across their IT systems.

Vico Therapeutics, a genetic medicines company based in Leiden, Netherlands, has successfully raised €54 million in its Series B funding round. The funding, primarily led by Ackermans & van Haaren, also saw participation from existing co-leads Droia Ventures, EQT Life Sciences, and Kurma Partners, as well as continuing support from previous investors such as Polaris Partners, Pureos Bioventures, and Eurazeo. The capital will be utilized to advance the development of therapies targeting severe neurological diseases.

Matisse Pharmaceuticals, located in Geelan, Netherlands, a clinical-stage company focused on developing a medicinal product for sepsis, has revealed the successful acquisition of €3.6 million in a new funding round. The funding comes from a variety of sources, including Brightlands Venture Partners, private investment firms, informal investors, and the company's management team.

Holiferm Limited, a spin-out from the University of Manchester specializing in the production of sustainable biosurfactants, has successfully concluded a Series B funding round, securing £18.5 million. The funding was led by Rhapsody Venture Partners and Clean Growth Fund, highlighting strong support for Holiferm's innovative approach to manufacturing environmentally friendly biosurfactants.

Genomics, headquartered in Oxford, UK, successfully raised £35 million in a funding round. F-Prime Capital and Foresight Partners spearheaded the investment, and they were joined by Infinity Investment Partners and MassMutual.

Milan-based startup Contents.com, utilizing AI for its multi-lingual content generation services, has secured $18 million in a Series B funding round. The funding was spearheaded by the existing investor Synergo Capital, with additional participation from Azimut Digitech Fund, Invictus Capital, and Thomson Reuters Ventures.

Whispp, an innovative AI startup headquartered in the Netherlands, is working on assistive voice technology that presents a groundbreaking solution for individuals with vocal cord impairment and whispered speech.The startup recently revealed the completion of a successful €750,000 seed investment led by the prominent investor LUMO Labs. Supported by additional funding from Leiden University’s Libertatis Ergo Holding BV (LEH) and other angel investors, this funding round is intended to strengthen Whispp's mission to transform voice technology.

Mogu, an Italian biotech and biomaterials company focused on mycelium, has successfully secured €11 million in a Series A funding round. The primary goal of this funding is to facilitate the scaling of operations, support ongoing research and development projects, and inaugurate a new production plant. CDP Venture Capital and ECBF VC jointly led the Series A round, with participation from Kering Ventures and existing investor Progress Tech Transfer.

The real estate value management platform einwert has successfully secured a new financing round, raising over €4 million. The funding is led by Ventech, who joins the existing group of investors, including 468 Capital, Wecken & Cie, Auxxo Female Catalyst Fund, and Infinitas Capital. Notable additions to the investor group include Peter and Anne Bosch, Martin Linder (McKinsey), Ulrich Groß, and Jürgen Roth (Immowelt). They join the existing business angels Oliver Manojlovic, VP Sales of Personio, and Dr. Stephan Rohr, founder and co-CEO of TWAICE.

In an ongoing Series C round, the UK nuclear fusion startup Tokamak Energy has secured over $50 million. The funding round includes support from existing investors, as well as new investors and strategic partners. Noteworthy previous backers comprise Legal & General Capital, Hans-Peter Wild (founder of Capri Sun), and British billionaire financier David Harding.

Scorestars, a basketball fan engagement platform headquartered in Tallinn, has revealed the successful raising of €725K in a Seed round of funding. Leading the investment were Trind VC, Startup Wise Guys, 3 Comma Capital, and Estonian angel investors.

Dott from Amsterdam and TIER Mobility from Berlin have announced a strategic collaboration to establish Europe's leading micro-mobility operator. Operating under the names TIER and Dott, the joint entity aims to leverage their collective expertise to offer shared mobility services across European cities. The agreement is supported by a combination of existing shareholders from both TIER and Dott, with prominent backers such as Mubadala Capital and Sofina leading the way. Noteworthy contributors include Estari, M&G, Prosus Ventures, Novator, and White Star Capital, committing €60 million in equity to advance the long-term goals of the newly formed partnership. The completion of the transaction is contingent on various conditions and is expected to take effect within two months of this announcement.

Enifer, a biotech startup located in Espoo, has disclosed the acquisition of grants exceeding €12 million from Business Finland for its PEKILO mycoprotein factory. This funding, sourced from the European Commission's NextGenerationEU instrument, is dedicated to establishing pioneering industrial facilities for recycling and reusing by-products. The initiative aligns with Finland's Circular Economy Action Plan and Sustainable Growth Programme.

Picnic, the Amsterdam-based online supermarket, has successfully raised €350 million in a new funding round from existing shareholders, which include the German supermarket chain Edeka, the Bill & Melinda Gates Foundation Trust, and prominent Dutch family businesses.

Swiss regtech company Rivero, which specializes in the digitalization and automation of payment processes, has successfully raised $7 million in a Series A funding round. Leading the round are 6 Degrees Capital and Inference Partners, with additional participation from Kraken Ventures, Seed X Liechtenstein (the venture arm of PostFinance), and notable angel investor Robert Kraal, former COO of Adyen, alongside various payment industry executives.

Amsterdam-based startup Firsty has revealed a Pre-Seed growth funding round of €1.1 million. Firsty is dedicated to making mobile connectivity accessible to all, regardless of location. The funding is spearheaded by former senior executives at KPN, Marcel Smits and Godert Vinkesteijn, along with Patrick Stal, former head of marketing at Uber and N26.

Cactos, a company specializing in smart energy storage systems constructed from second-life Tesla EV batteries, has secured over €26 million in funding to enhance its portfolio and contribute to reshaping the energy landscape in the country. The investment is spearheaded by OP Finland Infrastructure LP and the Finnish Climate Fund.

London-based startup NumberEight, which specializes in 'privacy-first' identity solutions for the advertising industry, has successfully raised $2.7 million in Pre-Series A funding. The funding round was led by ACF Investors, with contributions from early backers Nauta Capital, Ascension Ventures, Enterprise 100 angels, and new groups like COREangels EnterpriseTech and COREangels Big Data & AI Europe. Strategic angel investors include seasoned veterans from mobile gaming, John Libby and Nick Button-Brown, as well as AdTech experts like Ionut Ciobotaru.

Portuguese data and martech company Primetag have disclosed a €3.5 million funding round co-led by Indico Capital Partners and Iberis Capital. Primetag specializes in influencer marketing analytics and aims to establish itself as a hub where brands, agencies, agents, and influencers can connect and foster business growth.

Munich-based car subscription platform FINN has successfully raised €100 million in a Series C funding round at a valuation exceeding $600 million. The round was led by Planet First Partners, with participation from existing investors including HV Capital, Korelya Capital, UVC Partners, White Star Capital, and Picus Capital.

Eindhoven-based tibo energy, a company specializing in smart grid management to handle network congestion, save energy costs, and reduce emissions, has successfully secured €3 million in a seed round of funding. The funding round was led by Amsterdam-based SET Ventures, with additional contributions from Speedinvest and tibo energy's founding team members. The funds will be utilized to expand the team and explore opportunities in international markets.

Oslo-based 1X Technologies, an AI and robotics company specializing in androids capable of human-like movements and behaviors, has revealed the successful closure of a $100 million Series B funding round. The Series B investment was led by Stockholm-based EQT Ventures, along with support from other prominent global investors, including OpenAI and Tiger Global.

Trudenty, based in London, has disclosed securing $500,000 in a pre-seed funding round. The UK startup specializes in consumer data networks, providing real-time fraud risk intelligence to enhance personalized payment experiences for merchants and acquirers. The goal is to improve customer satisfaction and prevent fraud. The investment was led by Fuel Ventures, with participation from Techstars, Plug and Play, and angel investors.

Soly, an international solar energy company based in Groningen, Netherlands, has announced the successful securing of €30 million in funding. The funding round was led by ArcTern Ventures in partnership with US-based Fifth Wall. Existing investors, including Shell Ventures and the pension fund ABP, also participated in the round.

Pickler, a software startup based in Amsterdam that facilitates packaging companies in calculating, reducing, and sharing the impact of packaging, has disclosed securing €500,000 in a recent funding round. The investment was led by Shamrock Ventures, recognized for its sustainable tech investments. The round also received support from existing angel investor and early-stage startup investor APX.vc.

Pliant, a Berlin-based company specializing in the latest generation of corporate credit cards, has raised €8 million in a Series A extension round of funding, bringing the total Series A funding to €33 million. Molten Ventures is the new investor in this round, joining existing Series A investors SBI Investment, Alstin Capital, and Motive Ventures.

Delfos, a Barcelona-based startup utilizing AI-powered real-time advanced analytics to enhance the performance and reliability of renewable energy power plants, has successfully secured €6.3 million in a seed round of funding. The seed round was led by Contrarian Ventures and Headline, with participation from existing investors including DOMO.VC and EDP Ventures.

Paris-based EV-charging startup Electra has successfully raised €304 million in a Series B funding round to expand its network of charging stations across Europe. The all-equity Series B was led by Dutch pension fund PGGM through its dedicated infrastructure investment vehicle. Bpifrance, a public sector bank, also joined Electra's cap table, and returning investors included French investors Eurazeo Infrastructure, Serena, and Rive Private Investment, along with 574 Invest, the investment branch of the national railway company SNCF. Electra also enjoys financial support from leading public and private investors such as EIP in Switzerland, RATP Capital Innovation, Caisse des Dépôts et Consignation/Banque des Territoires, Ademe Investissement, Eiffel Investment Group, RGreen Invest, Frst, Allianz, Groupe Chopard, and Altarea in France.

Dutch company Onera Health, a pioneer in remote sleep diagnostic and monitoring solutions that enable clinicians to conduct sleep studies anytime and anywhere, has successfully completed its Series C financing round, securing EUR 30 million. The round was led by new investor EQT Life Sciences, investing from its EQT Health Economics 3 fund. It was co-led by new investor Gimv and joined by existing investors, including Innovation Industries, Invest-NL, imec.xpand, BOM, and 15th Rock.

Dutch deep tech startup QDI Systems has successfully secured €5 million in seed funding. The latest funding round was spearheaded by NOM, the Investment and Development Agency for the Northern Netherlands, and saw participation from the company's existing investors, including Carduso Capital, RuG Ventures, and the notable Nordic venture capital fund Maki.vc. Additionally, the funding includes an innovation loan of €1.97 million from the Netherlands Enterprise Agency (RVO).

Dutch startup QphoX, focused on critical quantum internet technologies, has raised €8 million in its latest funding round. This investment marks the largest funding for a quantum company in the Netherlands to date. The €8 million round was led by QDNL Participations, with participation from the EIC Fund, and existing investors Quantonation, Speedinvest, High-Tech Gründerfonds, and Delft Enterprises.

Vertice, an integrated SaaS and cloud spend management platform, has disclosed a €25 million Series B funding round following a year of rapid revenue growth. The lead investors include 83North and Bessemer Venture Partners.

Remuner, a variable compensation platform, has successfully closed a €2 million Pre-Seed round just three months after its launch. Silicon Valley-based fund Pear VC led the funding round. Other prominent venture capital funds, including Kfund, Bonsai Partners, and Enzo Ventures, as well as institutional investors such as Wayra and BStartup, also supported the round. Notable business angels, including Felipe Navío and Juan Urdiales (co-founders of JobAndTalent), Danila De Stefano (co-founder of Unobravo), and Jesper Frederiksen (VP and GM at Lacework and former VP and GM at DocuSign and Okta), also contributed to the funding.

Runnr.ai, a conversational guest engagement startup, has announced a successful funding round raising €1 million. The funding is led by Arches Capital, with participation from Golden Egg Check, as well as angel investors Roland Zeller (ex-GetYourGuide), Marnix van der Ploeg (ex-Booking.com), and hotel entrepreneur Hans Pieters.

Eindhoven-based Taylor, a high-tech electronics producer for solar panels, has secured €8 million in a fresh round of funding. The investment came from new investor Pension Fund ABP alongside existing investors Rubio Impact Ventures and Brabantse Ontwikkelings Maatschappij (BOM).

Spanish startup Harbiz, which provides a technology platform to support fitness professionals, has successfully concluded a €5 million funding round. Octopus Ventures led the round, with participation from existing investors, including JME Ventures, Athos Capital, and Enzo Ventures. The funding will enable Harbiz to solidify its growth in the UK and German markets, enhance product innovation, and continue its global talent acquisition efforts.

Dutch BNPL (Buy Now, Pay Later) startup Billink has secured €29.5 million in funding from German Varengold Bank. The funding will be used by the Dutch startup to expand its offering to the 50 largest Benelux web shops, enter the German market, and further advance its mission to make online purchasing fairer for both consumers and web shops through innovation and customer satisfaction.

Kiln, a leading enterprise-grade staking platform, has raised $17 million in funding, bringing its total funding to $35 million. Kiln enables institutional customers to stake assets and integrate whitelabel staking functionality into their offerings. The funding round was led by 1kx, with participation from Crypto.com, IOSG, Wintermute Ventures, KXVC, and LBank. Existing investors, including Kraken Ventures, GSR, and Avon Ventures, also contributed to the round.

Belgian clinical biotech company PDC*line Pharma and its partners have announced funding of €8.1 million from the Walloon region and Wallonia health cluster BioWin for the development of a personalized therapeutic vaccine based on neoantigens for colorectal cancer

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TrusTrace, a Stockholm-based SaaS company specializing in product traceability and compliance, has secured $24 million in growth funding. The funding round was led by Circularity Capital, with participation from existing investors Industrifonden and Fairpoint Capital.

Timeline, a consumer health biotech company based in Lausanne, has successfully secured $66 million in an oversubscribed Series D round of funding. The investment was led by L'Oréal's venture capital fund, BOLD (Business Opportunities for L'Oréal Development), and Nestlé.

HutanBio, a biotech startup founded by Cambridge University scientists with operations in both Cambridge and Malaysia, is addressing the challenge of sustainable fuel in the £30 billion global shipping industry. The company recently secured £2.25 million in funding from Clean Growth Fund, a prominent UK cleantech venture capital fund. This investment will expedite the adoption of HutanBio's HBx bio-fuel oil, contributing to a reduction in greenhouse gas emissions in the shipping sector.

French startup Heex Technologies has secured €6 million in its latest funding round, with support from deeptech investors such as SHIFT Invest, Karista, and Techstars. The funding also includes backing from BPI France in the form of a loan.

Warsaw-based graphic development startup Gotiva has successfully raised €1.11 million in Seed funding. The funding round was spearheaded by SMOK Ventures Fund II, with additional contributions from co-investors such as Big Bets (the family office of Anton Gauffin, founder of Huuuge) and Movens Capital.

Karlsruhe-based e-fuels company Ineratec has disclosed a Series B funding round totaling $129 million. The investment consortium participating in this funding round includes Planet A Ventures, MPC Capital AG, HTGF | High-Tech Gründerfonds, FO Holding, Safran Corporate Ventures, Honda, ENGIE New Ventures, HG Ventures, TDK Ventures, Copec WIND Ventures, RockCreek, Emerald Technology Ventures, Samsung Ventures, and Piva Capital.

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