Notable Funding Rounds across the EU:
- Berlin-based semiconductor manufacturer Inuru has raised €10M in an investment round from Aper Ventures, ARIA, and Adamed. Inuru specializes in low-cost OLED micro lighting and electro lighting labels and films (elf) with the aim of enhancing products with paper-thin surface lighting.
- Helsinki-based creator economy startup Boksi has concluded its Series A, raising €7M. Leading the round were 3TS Capital Partners and Nexit Ventures, with participation from Trind Ventures, Aikainen Ventures, Business Finland.
- Rotterdam-based Skoon Energy has secured €5M led by Blue Bear Capital, with participation from the Graduate Entrepreneur Fund. Skoon Energy offers an AI-powered software platform for clean mobile energy, allowing users to access, analyze, and share complex data efficiently.
New Venture Funds:
- Stockholm EQT is closing in on the final stages of its EQT X buyout fund, having raised nearly €20B for its latest flagship vehicle. EQT now anticipates a final close at or near its €21.5B hard cap in Q1 2024.
- UK-based Tech Nation has announced a relaunch with a commitment to secure £10B in private investment over the next five years. This initiative aims to provide support and resources for disabled individuals in the tech industry.
- France-based VC Breega has announced the launch of its "Europe Seed III" fund with a commitment of at least €150M. This fund aims to support early-stage startups across Europe and provide them with resources to help them succeed. Breega has a strong track record in funding and supporting startups, with 70% of Breega-backed startups successfully moving past the Seed stage.
- German General Catalyst and La Famiglia have announced a collaboration, becoming the seed investment arm for General Catalyst, especially across continental Europe.
Startup Funding Rounds & Acquisitions:
- Estonian Skeleton Technologies has secured €108M in funding from Siemens Financial Services and Marubeni Corporation as the lead investors.
- Greek AI-first hardware and software defense startup Lambda Automata has secured €6M in seed funding. Their flagship solution is an autonomous surveillance tower capable of event classification, geo-location, rapid communication, and seamless integration with legacy systems.
- Polish CTHINGS.CO has secured €4.5M in funding for its work in 5G, IoT sensor networks, and Digital Twin cloud applications. The round was backed by Orlen VC, PKO VC, Freya Capital, and Level2 Ventures.
- Estonian startup Bisly, AI building platform that enables real estate developers to meet EU net-zero standards, has raised €3.6M led by Aconterra, with participation from Second Century Ventures, REACH UK, SmartCap Green Fund I, Pinorena Capital, and angel investors.
- Latvian - US Morty, known for its escape room and entertainment marketplace, has secured $2.2M led by Protagonist and General Catalyst, Animo VC, Wedbush Ventures, Unpopular Ventures, Wonder Ventures.
- Bulgarian, peer-to-peer luxury fashion resale platform, NOLD has raised €1M led by Tilia Impact Ventures, with participation from Depo Ventures, Czech Founders, Sofia Angel Ventures, New Vision 3, and 4 angel investors.
- Polish founded SafeApps has received €222k from Czysta3.VC. SafeApps is the creator of Sequrify, a mobile application designed to enhance the monitoring of mobile app quality and security by employing proprietary algorithms and AI.
- Polish startup, produces plant-based cheeses, SERio has secured €222k from COBIN Angels.
- Estonian cleantech Enzum has secured $120k from Techstars. Enzum offers AI-powered grid optimization solutions to enhance predictions of grid energy consumption, reduce overproduction, and minimize wastage.
- Ukrainian based Startup Teraz Work has secured an investment from Ukrainian company Jooble. The platform helps recruiters access a wide range of job opportunities to speed up the hiring process.
Startup Calls:
- A pool of PLN 100k prizes is waiting for startups from the area of LifeScience and the maritime industry. Join the Acceleration Zone program if your startup operates on biotechnology, medicine, and maritime and get a chance to win financial prizes, mentorship, and access to facilities. Applications are open until October 31, 2023.
- Are you developing manufacturing-focused products or services, harnessing renewable energy sources and aiming for low emissions? Join the TAURON Progres acceleration program and receive PLN 200k for solution validation. Explore the challenges offered by the TAURON Group in the green energy sector and partner with one of the region's largest energy companies. Apply till 12 November 2023.
- The Polish Agency for Enterprise Development has launched the "Promotion of the brand of innovative SMEs" competition, part of the European Funds for Modern Economy (FENG) program. It aims to boost SMEs' international export capabilities, with PLN 155M available for co-funding projects. The program supports activities like international expansion strategies and product tailoring for target markets. Up to 50% of project costs can be covered. This call for proposals is open until November 30, 2023.
- Rubik Garage, an equity-free accelerator for CEE startups targeting the US market, has announced an open call for its 2023-2024 cohort. This opportunity is aimed at startups with provable traction, a scalable product or service with a heavy innovative component, and founders based in a European country seeking to launch or scale their businesses in the US. Participants can expect various benefits, including the potential for a €100k investment from Fortech Investments, access to over 1,500 investors and US family offices, immersive experiences in the US, and exposure at SXSW Conference in Austin, Texas. The program runs from November 2023 to March 2024 and includes a Founders Bootcamp, a 3-month online program, and a 10-day USA Immersion.
- Are you an innovative SME or startup seeking funding for digital technology development? Cascade grant, also known as FSTP competition aims to fast-track technology to market and typically range from 50k to 250k euros, supporting activities like feasibility studies, demonstrations, and more, especially in digital innovation. Currently, various FSTP competitions are open, covering sectors like XR innovation, food and nutrition data solutions, 5G applications, IoT and edge computing, Next Generation Internet, and more.
- The CEE Startup Challenge is currently open for applications from regional startups and scaleups in Central & Eastern Europe. The focus areas include various verticals such as SaaS & Marketplaces, AI / ML, Fintech & Insurtech, Cybersecurity, Defence and Govtech, Mobility, Industry 4.0 & Manufacturing, Environmental and Sustainable Solutions, Food and Agriculture, Healthcare & Wellbeing, Consumer Technology, and Diversity and Inclusion. The application deadline is November 17, 2023. If your startup aligns with the mentioned verticals and is in the seed, pre-series A, series A, or beyond stage, you can apply for this challenge for a chance to access these benefits and prizes.
Related Posts:
VC & Startup Weekly News, October 7 - 13, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
VC & Startup Weekly News, September 30 - October 6, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
VC & Startup Weekly News, September 23 - 29, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)
