Notable Funding Rounds across the EU:
- UK-based fintech Bumper, flexible payment solutions for car repairs, has completed a €46M Series B funding led by Autotech Ventures, with Shell Ventures, InMotion Ventures, Porsche Ventures, and Revo Capital.
- German UltiHash, high-performance and sustainable data storage solutions, has secured $2.5M in pre-seed funding led by Inventure and saw participation from PreSeedVentures, Tiny VC, Futuristic VC, The Nordic Web.
- Leviosa, an Icelandic healthtech startup, has secured $1M in pre-seed funding from existing angel investors and over 60 healthcare professionals.
New Venture Funds:
- The Fund Manager of Financial Instruments in Bulgaria (FMFIB) is set to launch its new Entrepreneurship Fund, backed by €100M in public resources and expected to reach €126M with private investor co-financing, consisting of three separate funds to support early-stage development, fast-growing companies, and mature enterprises, with fund manager announcements expected by the end of 2024 or early 2025.
- Helsinki-based fund management company IPR.VC has launched its €100M IPR.VC Fund III to support film and television production. The company has invested in Nordic scripted projects and established strategic partnerships with U.S. and European producers.
- Spain-based Tresmares Capital, a venture capital entity, is finalizing the launch of three funds with a total capacity of up to €390M. These funds are aimed at internationalizing the firm in Europe and expanding its presence in the market.
- EHE Ventures, a Manchester-based venture capital firm, is launching a dedicated fund focused on artificial intelligence (AI) opportunities. The fund will target UK-headquartered AI-first companies that use AI to scale, drive operational efficiencies, and innovate. EHE Ventures offers growth funding ranging from £100k to £5M and aims to provide hands-on support with deep technical expertise to AI founders.
- Partech, a tech investment firm based in Paris, France, has launched a €360M venture fund. The fund has attracted a diverse group of investors, including sovereign funds and multinational corporations such as Allianz France, BNP Paribas, Bpifrance, CDP Venture Capital, Edenred, FDJ Ventures, JCDHolding, and Lombard Odier Investment Managers.
- Hadean Ventures, a venture capital firm focused on life science investments based in Oslo, Norway, and Stockholm, Sweden, has closed its Hadean Capital II fund at EUR 144M.
Startup Funding Rounds & Acquisitions:
- Bulgarian digital banking platforms Software Group has secured up to €9.5M from Invenio Partners and PostScriptum Ventures S.à r.l.
- Polish fintech Wealthon has secured €7.4M from the 4growth fund and NCBR Investment Fund, along with €4.6M in debt financing.
- Lithuanian medtech Sentante has secured €6M in Seed funding led by Practica Capital, with participation from the EIC fund, to support clinical trials of their teleoperated robotic system.
- Polish biotech and medical research company Genomtec, has secured approximately €5M in funding from the Polish Agency for Enterprise Development (PARP).
- Bulgarian metal packaging manufacturer Bulmetal has raised €4.2M through its initial public offering (IPO) on the Bulgarian Stock Exchange.
- Polish startup Quesma,a novel database gateway that aims to help companies innovate faster, has secured $2.3M in a pre-seed funding round co-led by Heartcore and Inovo VC.
- Ukrainian startup Mindly has secured a $2M investment from Inovo. Mindly operates a marketplace that connects users with psychologists for online therapy sessions.
- Munch, a food-saving app based in Hungary, has announced a Series A funding round led by Piton Capital.
- Tallinn-based Money.Industries, cross-border services of domestic fintech companies, has secured a $1.5M investment, led by Caucasus Ventures.
- Riga-based Naco Technologies, a manufacturer of nano-coatings, has secured €1.2M in a pre-Series A funding led by Impact Ventures and The Untitled Ventures.
- Lithuanian MELP, specializing in employee benefits management, has secured €635k in funding from 23 business angels in the NGL syndicate and Coinvest Capital.
- Gin, a startup specializing in manufacturing e-bikes for long-distance trips and co-founded by Ukrainian entrepreneurs, has secured a £510k investment from Toloka.vc.
- Sessions Technologies, a Romanian founded smart communication platform developer, has raised €1.5M from Earlybird and plans to secure €500k from SeedBlink.
- Ukrainian-British JobCannon has raised $500k in a pre-seed funding led by Whitehill Capital, with the support of the World Bank. JobCannon focuses on improving the recruitment process by integrating AI into its algorithm.
- Estonian aerospace firm SKYCORP Technologies has raised €305k in a pre-seed funding round led by Destiny Energy and Baltic Sandbox Ventures
- Latvian startup Exponential Technologies, specializes in developing AI tools for industrial manufacturers in various sectors, has secured €280k from the Horizon Europe program.
- Ukrainian fintech startup Fintellect has raised $50k from ZAS Ventures. Their solution helps businesses manage finances, avoid cash gaps, and calculate project profitability.
- KKCG, a Czech-founded investment group, has acquired Avenga, an international IT platform with a significant presence in Ukraine, aiming to strengthen its position in the European technology market.
- Latvian Digital Mind has acquired a 100% stake in Polish firm EIP Dynamics.
- Czech AI business analysis UltimateSuite has been fully acquired by US-based ServiceNow, a cloud‑based platform and solutions to help digitize and unify organizations.
- Poland's IAI Group has acquired a majority stake in AtomStore, an e-commerce platform designed for large and medium-sized sellers.
Startup Calls:
- "Ventures Thrive" is an equity-free program for deeptech climate startups in Central Eastern Europe and Widening Countries, offering €1.5M to support up to 32 startups in sectors like Health and Energy. Designed for startups past the MVP stage, it provides mentoring and fundraising opportunities over 8 months.Applications close January 17, 2024.
- The SynergistEIC program targets digital and deep tech startups in sectors like climate-tech and agri-food from EU states or Associated Countries. It offers funding, mentoring, and acceleration, with different criteria for EIC and non-EIC applicants.The program has two tracks: 10 slots for startups new to EIC Accelerator and 5 for those with experience, each offering up to €50k. Applications open on January 10.
- TrialsNet Open Call invites European entities to participate in large-scale trials across sectors like infrastructure, eHealth, and tourism. They seek proposals for innovative use cases and trials from companies, SMEs, research centers, and others. There are two participation options: Option 1 supports new or improved use cases with TrialsNet infrastructures, and Option 2 involves new use cases with additional infrastructures. Funding up to €200k(Option 1) or €300k (Option 2) is available for 12-month projects starting May 2024. Proposals are due by January 19, 2024.
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VC & Startup Weekly News 9-15 December, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
VC & Startup Weekly News 2-8 December, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
VC & Startup Weekly News, 25 November - 1 December, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
