Notable Funding Rounds across the EU:
- Berlin-based ecoworks has secured €40M in funding to advance its mission of reducing emissions in the built environment led by World Fund and supported by Haniel, KOMPAS VC.
- German-based Vectoflow, specializing in 3D printed flow measurement systems, has completed a €4M Series A funding round.
- Stockholm-based startup FineCell, specializing in sustainable biomaterials, has raised €1M. This investment, also backed by EIT InnoEnergy.
New Venture Funds:
- Paris-based VC firm Singular closed its second fund at €400M, significantly surpassing its initial €225M fund. Singular has been investing in startups across Europe from the start. This strategy positions them as a generalist VC firm with no specific vertical or geographical focus.
- Revaia, an investment firm based in Paris and Berlin, focusing on sustainable innovation, has achieved the first institutional close of its second fund, Revaia Growth II, at €150M.
- Lyon-based Axeleo Capital has closed its second fund, AXC2, at €73M, exceeding its initial €60 M target. This fund is dedicated to investing in next-generation B2B startups across software, cybersecurity, artificial intelligence, data usage, blockchain, and fintech in early stages. With initial seed investments ranging from €200K to €2M.
- Copenhagen-based Heartcore Capital has launched a pioneering €15M Web3 fund, Heartcore Capital Web3 I, focusing on the application layer within the Web3 ecosystem.
Startup Funding Rounds & Acquisitions:
- The Warsaw-based furniture company Tylko has secured €7.5M in financing from the European Investment Bank (EIB).
- Estonian naturetech startup Arbonics has raised €5.5M in a seed round led by NordicNinja, Plural, and Tilia Impact Ventures.
- Estonian regtech startup Salv has raised €3.9M. Salv offers a real-time collaborative network for combating financial crimes.
- Warsaw-based HR tech startup Staffly has received funding from US-based VC fund Freya Capital, increasing its valuation to €3M.
- Flashpoint, an international tech investment manager, announced its 4th exit in 2023, bringing their total number of exits to 17.
- Estonian reforestation startup Ecobase has secured €2.5M in a seed funding round The investment was led by Combiwood Grupp.
- Estonian company Woola, specializing in protective wool packaging, has raised €2.5M in funding led by Metaplanet, with participation from Future Ventures and Lemonade Stand.
- Czech fintech Digitoo has secured €2.3M in a seed funding round led by Reflex Capital. Digitoo specializes in developing an AI-based platform designed to alleviate accountants' manual and repetitive tasks.
- Boxmarket, a Polish e-commerce platform specializing in packaging, has raised approximately €462k in funding led by Tar Heel Capital Pathfinder.
- Estonian Inspectle Food has raised €400k in a Pre-Seed funding round led by Change Ventures and included participation from Firstpick and Heartfelt_. Inspectle Food's platform streamlines hygiene inspections in GFSI certified food production plants.
- Lithuanian laser optics company Altechna has acquired Boulder-based Alpine Research Optics (ARO).
- Black Pearls VC has completed its third exit of the year by selling its majority stake in Telemedi to Austrian healthcare provider Mavie.
Startup Calls:
- Join “Ventures Thrive" is an equity-free venture builder program targeting deeptech climate startups in Central Eastern Europe and Widening Countries. Offering €1.5M to support up to 32 startups, it focuses on industries like Health, Agriculture, Biotechnology, Energy, and more. The program is designed for startups beyond the Minimum Viable Product stage, providing mentoring, corporate connections, and fundraising opportunities. Over an 8-month period, startups undergo phases of business refinement, growth, and pitching, culminating in the Wolves Summit. Applications close on January 17, 2024.
- BoostUp! North 2023 is a competition aimed at startups from countries including Sweden, Denmark, Norway, Finland, Iceland, Estonia, Lithuania, Latvia, and the UK, focusing on manufacturing technologies. It offers a platform for businesses looking to internationalize and scale in Europe.Open to startups with solutions in manufacturing technology, fitting into EIT Manufacturing’s focus areas, specific market segments, and technology domains.Application Deadline is January 1, 2024, 23:59 CET.
Related Posts:
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)
VC & Startup Weekly News, 18-24 November, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
