Notable Funding Rounds across the EU:
- German Aleph Alpha, a startup specializing in generative AI, has raised a monumental $500M in a Series B funding round, marking one of the largest AI fundings in European history. The funding was provided by SAP, Bosch Ventures, Innovation Park Artificial Intelligence, LEA Partners, Earlybird Venture Capital, 468 Capital, Lakestar, UVC Partners, and Cavalry Ventures, Schwarz Group, Christ&Company, Hewlett Packard Enterprise.
- Finnish startup SpinDrive has secured €3.8M in a Series A funding round by Rhapsody Venture Partners, Innovestor and Born2Grow, for its energy-efficient magnetic bearings designed to enhance industrial efficiency and reduce CO2 emissions.
- Numi, a French milktech startup formerly known as MUMilk, has raised €3M in Seed funding.
New Venture Funds:
- Munich-based Acton Capital has announced the closing of its Fund VI with a total of €225M. Focused on early growth phase companies in Europe and Canada, Acton Capital emphasizes sustainable scaling strategies in startups with proven business models.
- Finnish Kvanted Ventures has launched a €70M Nordic Industrial Technology Fund, focusing on early-stage industrial technology startups in Northern Europe. Kvanted aims to merge traditional industries with innovative tech startups, investing in hardware, software, and services that enhance industrial automation, sustainability, and supply chain resilience.
- Yellow, a new venture capital firm launched with a €30M fund, is focusing on pre-seed investments across Europe. The fund emphasizes investments in France and Southern Europe, including Spain, Italy, and Portugal, regions traditionally underserved by venture capital. Yellow plans to invest between €200k and €500k in each pre-seed round, collaborating with other European VC funds rather than leading these rounds.
- Supernova Invest, in partnership with Crédit Agricole Group, has announced the launch of a new innovation capital fund dedicated to agri-agrotech, marking a significant step towards supporting sustainable agricultural transitions in France and Europe. The fund has achieved its first closing at €60M, with a goal to reach a total size of €100M.
Startup Funding Rounds & Acquisitions:
- Lithuanian CAST AI, based in Miami and Vilnius, has closed a $35M Series B funding round, led by Vintage Investment Partners, with participation from Creandum and Uncorrelated Ventures. This latest round brings CAST AI's total funding to $73M.
- Estonian startup RAIKU has secured €8.8M from EIC Accelerator and private investors. RAIKU has developed an innovative, 100% natural packaging material as an alternative to plastic bubble wrap.
- Estonian on-demand metal fabrication platform Fractory has raised €4.8M in funding. The round was led by Finnish venture capital firm Kvanted, with additional support from Estonian Trind Ventures and Specialist VC, Estonian accelerator Startup Wise Guys, Finnish Superhero Capital, Amsterdam-based OTB Ventures, and Swiss investment firm Verve Ventures.
- Wrocław-based digital analytics suite vendor Piwik PRO, after a 6-year partnership with financial investors Warsaw Equity Group and TS Ventures, have sold their shares, enabling new development avenues for the company.
- Polish company LiveKid, based in Krakow and specializing in pre-school and nursery management, has raised €3.14M in a funding round led by Inovo.vc. This investment aims to support LiveKid's expansion into Latin America.
- Estonian urban analytics startup Fyma, specializing in AI-driven video feed analysis, has successfully raised $2.1M. The funding round was led by London's Quadri Ventures, with participation from Chicago's Second Century Ventures.
- Eilla AI, a London-based startup with Bulgarian origins optimizing workflows for M&A, VC, and PE deals, has raised $1.5M in a seed funding round. The investment was led by Eleven Ventures and included participation from Fuel Ventures.
- Polish electric car charging station operator and manufacturer Eway has secured approximately €675k (PLN 3M) in a new funding round from Rubicon Partners. Eway's charging stations are notable for being the first in Europe to feature an integrated, terminal-free payment system, enabling quick and contactless payments.
- The Lithuanian data analytics company Devtodev, specializing in gaming and app development analytics, has been acquired by the US-based marketing platform unicorn, AppsFlyer.
- Cloudprinter, a Ukrainian-Dutch startup specializing in providing Print API services, has received new financing from investors including U.Ventures. The amount is undisclosed.
Startup Calls:
- Vestbee, based in Warsaw, announces the LAST CALL for the CEE Startup Challenge. Startups in Central and Eastern Europe have a unique chance to access over 200 VC funds and secure up to €250k in investment. Open to a variety of sectors, including SaaS and Healthcare, the challenge offers winners numerous benefits: infrastructure credits, an invitation to the CEE VC Summit 2024, AWS credits, Stripe credits, Mixpanel Growth Plan, and media coverage for the top three. Backed by multiple organizations and venture capital firms, this is an incredible opportunity for startups to gain visibility, funding, and connections with key investors. Submit your application by November 17th!
- "Touch Summit" invites startups to join TOUCH23, the largest tech conference in the Caucasus, held at Rustaveli Theater on December 7-8. This event features global speakers, mentorship sessions, and an exhibition space for startups. Over 100 investors will attend. Early bird tickets are available on Touch Summit's website.
- Join the Innovation Wave with ORLEN Skylight! Applications are now open until December 4 for the exhilarating ninth round of ORLEN's prestigious acceleration program. Since its inception in 2021, ORLEN Skylight has become a beacon of opportunity, attracting over 500 visionary startups from across the globe in fields like retail, logistics, security, petrochemicals, and energy. ORLEN Skylight offers more than just mentorship and networking, it’s a launchpad for financial growth and industry collaboration. Here, you'll get the chance to showcase your innovations on Demo Day, potentially opening doors to further investment and strategic partnerships.
- Startup Wise Guys, a prominent accelerator, has launched an application till 17 November to join a 4-month program, "Growth Program: Ukraine," specifically designed for 12 ambitious Ukrainian scale-ups. This initiative, run in cooperation with EBRD and supported by the Taiwan Business-EBRD Technical Cooperation Fund, aims to amplify the business presence of Ukrainian scale-ups in Europe and globally. It targets B2B SaaS startups operating in various verticals, indicating a broad interest in different industries within the tech sector. Applicants should have secured at least pre-seed level funding, showing they have already gained some level of investor confidence and validation.
Related Posts:
VC & Startup Weekly News, October 28 - November 3, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
VC & Startup Weekly News, October 21 - 29, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
VC & Startup Weekly News, October 14 - 20, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
