• early stage for AI agents
• later stage for fintech
• Swedes jumping on a new consumer trend
• fresh powder and end of the year promotions

 

---

 

Interesting deals

Nordics

🇪🇪 ​Aksel​, developing a SAAS embeddable framework empowering non-technical users to create, manage, and optimize automated workflows with simple, natural language commands, raised $400k pre-seed in a deal led by Superangel.

🇩🇰 ​Aioss​, producer of an all-in-one nutritional supplement for the consumer market, raised $450k from local angel investors. 

🇩🇰 ​Kiku AI​, developers of a SAAS tool using AI for streamlining the recruitment process, raised $500k with a group of Swedish angel investors, including Sequoia scouts.

🇸🇪 ​Vetnio​, developing an AI tool used by veterinary professionals for note-taking during patient meetings, raised $1 million in a pre-seed funding round led by Peak Capital, joined by YZR, Wave Ventures and angel investors.

🇩🇰 ​Tembi​, developing an industry agnostic intelligence platform, raised a $3.2 million seed investment round led by Seed Capital.

🇳🇴 ​Flocean​, producer of desalinisation systems via modular subsea plants using reverse osmosis, raised $9 million series A led by Burnt Island Ventures, Nysnø and Freebird Partners, with participation from Katapult Ocean and MP Pensjon.

🇸🇪 ​The Intelligence Company​, developing a data credit tracking platform for both consumers and B2B, raised $2.3 million from local angel investors.

🇫🇮 ​Arctic Instruments​, manufacturer of near-quantum-limited amplifiers for quantum computers, raised $2.5 million pre-seed with Lifeline Ventures. 

🇸🇪 ​Anyfin​, provider of refinancing solutions, raised $13 million in a series C extension with local investors in Sweden.

• initial 30 million series C was led by Northzone last year, joined by the likes of EQT Ventures, Accel and Citi.

🇸🇪 ​Mynt​, provider of an API-based embedded finance platform, closed a series B round of $23.4 million, led by Vor Capital, joined by CNI and Incore Invest.

• previous series A was resumed at $15 million in 2022, extended with $9.7 million in 2023.
• since then the company says it reached breavkeven as it handles business for 12k small businesses.

 

DACH

🇩🇪 ​telli​, developing AI agents used for outbound customer calls for B2C companies, was pre-seeded by Cherry Ventures. 

🇩🇪 ​Arc Intelligence​, developing an AI-powered data platforms for small and medium-sized enterprises, raised $1.1 million in a pre-seed deal funding by 468 Capital and IBB Ventures. 

🇨🇭 ​Artem Technologies​, building a CBAM (Compliance & Carbon Reporting) SAAS, raised $1.6 million pre-seed round with Vireo Ventures.

🇩🇪 ​eyva.ai​, developing a SAAS tool that uses AI to optimise beauty and wellness product portfolios, raised $2.9 million pre-seed in a deal co-led by Earlybird and Wenvest.

🇩🇪 ​Embeddable​, building a developer toolkit for building fast, interactive, fully-custom analytics experiences into an app, raised $6.4 million seed in a deal led by OpenOcean, joined by Four Rivers and TechStars. 

🇩🇪 ​SpotmyEnergy​, developing smart meters for the consumer market, raised $11 million in a seed deal led by Norrsken VC, joined by Vorwerk Ventures and Picus Capital.

• pre-seeded by Picus a year ago and targeting 53 million electricity customers in Germany, out of which only 2% using a smart meter.

🇨🇭 ​Relai​, operating a bitcoin trading platform, raised $12 million in Series A funding led by Ego Death Capital, joined by Plan B Bitcoin Fund, Timechain, and Solit Group.

🇨🇭 ​ANYbotics​, developing solutions for robot applications with advanced mobility and autonomy requirements in challenging terrain, raised a $60 million series B extension led by Qualcomm Ventures and Supernova Invest with participation from TDK Ventures.

• initial series B was concluded at $50 million, co-led by Walden Catalyst and NGP Capital eighteen months ago.

🇩🇪 ​Gigs​, selling an MVNO-as-a-service, raised a $73 million Series B round led by Ribbit Capital.

• in case you're wondering what that is, the Germans are behind Revolut and Nubank's mobile plans offerings - their TAM is tech companies willing to embed phone plans into their products.
• founded in 2020, incubated by YC in 2021, raised $20 million series A led by Gradient Ventures in 2022.

 

The UK

🇬🇧 ​Refute​, using AI for discovering and fighting disinformation in commercial campaigns, raised $2.9 million pre-seedin a deal co-led by Playfair and Episode 1, joined by Notion Capital and Amadeus Capital Partners. 

🇬🇧 ​Relation​, provider of an end-to-end biotech platform used for developing and discovering transformational medicines, raised $45 million, of which $15 million equity, in a deal with GSK.

• one of the more expensive early stage British biotech startups, seeded with $25 million in 2022 and extended to $50 million last year - other investors include Khosla, Nvidia, firstminute, Omers and DCVC.

🇬🇧 ​Baller League​, event operator doing a 6-a-side football league, raised $15 million series A led by EQT Ventures.

• founded by a few German former football pros, moved quickly to the UK for making it a biz, pre-seeded with 2 million in 2023, then raised a $8 million seed led by Denmark's Dreamcraft VC this summer.
• ​Ashley Lundström​ of EQT was lead investor for the Swedes.
• yet another new-gen football event catering at young audiences and aiming to disrupt a hugely lucrative, 50 years old sports league paradigm. 
• put it in context with ​Kings League​ of Spain that raised $65 million from Left Lane also this year. 

🇬🇧 ​Nscale​, developer of AI-ready data centres with access to massive-scale GPU infrastructure, raised $155 million in Series A funding led by Sandton Capital Partners, with participation from Kestrel 0x1, Bluesky Asset Management, and Florence Capital.

• spinoff of Arkon Energy from Australia, which brought it to Europe in 2023.
• the startup is one of the world’s first AMD technology-focused cloud service providers, with a site located in Northern Norway.
• Sandton, which is also an investor in Akron, seeded the whole op all the way to series A.
• also worth noting the contribution of ​Kestrel 0x1​, an investment vehicle operated by a Palantir crew out of London.

 

France

🇫🇷 ​Artifeel​, producer of a smart alarm wearable for consumers, raised $1.3 million pre-seed with Boss Seeds, Side Angels and Welikeangels.

🇫🇷 ​Yampa​, developing a SAAS framework for AI-native agents, raised raised $3 million in a seed deal led by Partechjoined by angel investors.

🇫🇷 ​Bitstack​, operating a mobile consumer application bitcoin investments, raised $5.3 million from investors led by Stillmark, with the participation of Serena, Plug and Play, and Y Combinator.

• incubated by YC in the summer of 2022, post which raised a $2.2 million seed deal.
• now handles roughly 125 million worth of investments and 150k users, pivoting towards hybrid finance aka crypto investments and traditional banking (i.e. issuance of IBAN accounts and debit cards).

🇫🇷 ​Wildsense​, doing a carbon certification project named Ecosystem Restoration Standard, secured $5.3 million in a seed extension co-led by AENU & noa, joined by LocalGlobe and angels.

🇫🇷 ​Ion-X​, manufacturers of ionic liquid electrospray thrusters to be used for small satellites propulsion, raised $14 million series A with Paris Regions Venture Fund, Île-de-France Region, EIC Fund, Expansion Ventures andTechnofounders.

🇫🇷 ​Biomemory​, building a low-cost, bio-based solution for storing large amounts of computer data on long DNA strands. raised a $18 million Series A led by Crédit Mutuel Innovation, joined by Bpifrance, Blast, Paris Business Angels, Sorbonne Venture, Adnexus, Prunay, Next Sequence and Accelerem.

🇫🇷 ​Wecasa​, operating a consumer digital marketplace for wellness, cleaning and childcare. closed a $19 million Series Bdeal co-led by Serena and blisce/, joined by ISAI and iXO Private Equity.

• profitable at a turnover of €60 million in 2024, produced out of two countries: France and the UK.

🇫🇷 ​Bsport​, developer of SAAS for fitness and sport clubs, completed a $32 million Series B fundraising round led by Base10, joined by Octopus Ventures and Seed4Soft.

• no KPIs available in the PR, but worth noting that the French closed $4.4 million series A a mere 18 months ago.

 

Other geo

🇷🇴 ​parol​, developing an app using AI for transcribing the doctor-patient conversation in real-time, raised $1.3 million in a seed deal led by GapMinder. 

🇧🇪 ​Powernaut​, building next gen digital power plants, raised $2.6 million in a pre-seed funding round co-led by Reventand Seedcamp, joined by Pitchdrive and Syndicate One.

🇳🇱 ​CarbonX​, manufacturer of material alternatives to graphite to be used in EV batteries, raised a $4 million series A extension with Dutch investors including Energy Transition Fund Rotterdam, Innovation Industries and Borski Fund.

🇪🇸 ​Maisa​, developers of a platform used to execute end-to-end jobs and mission-critical processes with autonomous digital workers, raised $5 million pre-seed in a round led by NFX, joined by Village Global.

🇪🇸 ​Dcycle​, selling a B2B SAAS for environmental intelligence, raised $6.4 million in Series A led by Samaipata, joined by Ship2B Ventures, Sabadell Venture Capital, Draper B1, Decelera Ventures and Angels Capital.

🇳🇱 ​Next Sense​, building a smart building platform used for energy efficiency, raised $13 million in a deal co-led by ABPand ETF Partners, joined by Edge, SHAPE Capital, and Timeless Investments.

 

Please note that this is just a selection of interesting venture transactions, all deals (many more!) are available ​here​. 

 

 

---

 

 

Investors

On the move

🇫🇷 ​Xavier Lambert​ was hired as MD of Europe by the American PE firm Pacific Avenue Capital as the Americans opened a first European office in Paris.

🇸🇪 Norrsken VC announced three promotions, all in the Stockholm office:

• ​Beata Enwall​ – from Associate to Investment Manager 
• ​Christian zu Jeddeloh​ – from Associate to Investment Manager
• ​Tyko Carling​ – from Controller to Senior Controller 

 

Powder

🇫🇷 Lauxera did a first ​€300 million​ closing for a second fund dedicated to growth health startups across Europe.

🇫🇮 Sponsor Capital announced a final closing of ​€231 million​ for a sixth fund to be spent on Finnish small and medium-sized enterprises with revenues of €15–150 million at the time of investment.

🇮🇹 Scientifica Venture Capital announced a ​€200 million​ multistage fund dedicated to frontier technologies. 

🇪🇸 Buenavista Equity Partners announced a new healthcare fund with an initial closing of ​€100 million​ and co-managed with Columbus Venture Partners.

🇫🇷 Daphni announced kicking off Time4, with a target of ​€100 million​ and a mandate to invest in French founders from diverse backgrounds and rural areas.

🇫🇷 Arkéa Capital announced the closing of a second impact fund at ​€70 million​.

🇬🇧 KHP Ventures announced a ​£20 million​ fund dedicated to British startups tackling menta health.

🇧🇪 Syndicate One raised ​€6.5 million​ for its debut fund.

 

Also notable

🇩🇪 Bitkraft Ventures sold ​a minority stake​ to Blue Owl Capital, an American asset manager with $235 billion in AuM.

• for those not knowing already, Bitkraft is a German VC firm focused on gaming that announced a third, $275 million fund this year. 

🇫🇷 Cosmo Tech sold a majority equity package to Insight Partners for an ​undisclosed amount​.

• the Americans have seemingly pivoted from early stage deals to late stage/PE transactions in the past year - they call themselves a software investor now.
• alas PE is where it's at in the big boys business these days, as scale-ups either i) can't raise so they put themselves for sale or ii) are unprofitable and need restructuring with consequent financing for it. Both cases command a buyer discount, which can be significant.
• also notably, word on the street is that Insight sells access to its early stage pipeline to a number of high profile European investors - Insight is still running a back office team in Europe handling the data platform powering their ops.
• fwiw, Insight Partners invests from a $10 billion fund announced in September, and expected to be formally closed at $12 billion early next year
• that would be its 13th fund, the company was founded in 1995.

🇬🇧 DN Capital led a $15 million Series A funding raised by ​an American startup​ building an AI platform for health-care workflows.

🇪🇺 NATO's accelerator program announced a new startup batch to be incubated in 2025 - ​69 startups​ split in five main categories: energy & power, critical infra & logistics, data & information security, human health & performance, and sensing & surveillance. 

• a 5-10% acceptance rate would indicate an ecosystem of roughly 1000 early stage startups building defence-related business in Europe. 

🇫🇮 ​SkySQL​, developers of a serverless, MySQL-compatible DBaaS platform that handles database complexity, raised $6.6 million pre-seed with Eniac Ventures, Good Capital and Western Technology Investment.

• spinoff from MariaDB of Finland, entirely based and operated from the US.

🌏 Peak XV and HongShan (both formerly Sequoia, one covering India & Asia SE and the other China) co-led a $10 million seed raised by a ​Singapore-based startup​ that allows users in over 150 countries to manage and spend U.S. dollar-denominated stablecoins through a neobank-like experience.

 

---

 

 

Did you find this useful? 🤔

Great    •    Good   •    Meh

 

---

 

Questions or comments? Let us know!