Intel updates - Euro Intel

Euro investors not into the grocery business.

Euro Intel 06 June 2021

Euro startups accelerated by YC keep raising money, Goldman has quietly become one of more active growth finance providers and, believe it or not, there's still high profile investors not involved with grocery startups from Europe. Yet.

 


 

Investors

Active this week

πŸ‡¬πŸ‡§ Outward VC
πŸ‡―πŸ‡΅ Global Brain
πŸ‡¦πŸ‡ͺ Mubadala
πŸ‡¬πŸ‡§ DN Capital
πŸ‡ΊπŸ‡Έ Insight Venture Partners 
πŸ‡³πŸ‡± Wander Rutgers
πŸ‡ͺπŸ‡ͺ Ott Kaukver
πŸ‡«πŸ‡· Frédéric Montagnon

 

Fresh powder

πŸ‡¬πŸ‡§ London-based Firstminute closed its second seed fund of $160 million.
πŸ‡ͺπŸ‡Έ Suma Capital announced SC Growth Fund II, with €160 million in capital 
commitments.
πŸ‡«πŸ‡· Elaia announced Elaia DV4 with €120 million of commitments and a hardcap set at €200 million. 
πŸ‡³πŸ‡± City of Rotterdam launches new €100 million fund to back scaleups that can help make the city more sustainable
πŸ‡©πŸ‡ͺ Bluyard launched a crypto fund.
πŸ‡¬πŸ‡§ Early-stage space investor Seraphim Capital reportedly plans to list shares on London’s stock exchange
πŸ‡¬πŸ‡§ Rapyd, the payments-as-a-service platform that raised $300M series D in January, announced launching a venture arm to invest in early-stage fintech startups.

 

Notable

πŸ’ͺ Kima Ventures and Speedinvest co-invested in two startups that were part of Y Combinator this winter: June and Finary, both French.

June is operated by two Italians out of Paris, developing a lightweight, no-code product analytics built on top of Segment and used for startups operating with a subscription model.

Finary developed a software platform used for wealth management and providing access to an all-in-one, real-time dashboard of investments, as it is connected to about 10,000 banks and investment platforms from both Europe and the US.

Other European investors which backed YCW21 startups:
- Frontline Ventures and Moonfire - Humaans 
- EQT Ventures and SNÖ Ventures - Kitemaker
- Point Nine Capital - June
- Seedcamp - LiveFlow

 

πŸ‡ΊπŸ‡Έ Goldman Sachs has quietly become one of the more active growth equity providers in Europe.

This year they were part of 11 equity deals - 3 from UK, 2 French, 2 from the Nordics, 2 from DACH and one each from Portugal and Netherlands. And if buying equity is not an option, providing debt works just as well for getting the foot in the door i.e. Tier or Casavo.

Goldman joins Softbank (which we mentioned about last week) and other later stage usual suspects - DST (12 deals), Tencent (8 deals), Temasek (7 deals) or Mubadala (5 deals).

 

πŸ₯• The noise in the grocery delivery space is (ever) growing - Flink from Germany and Getir from Turkey announced mega rounds this week.

Rumour has it that Flink was in discussions to be acquired - didn't work out and had to raise. Gorilla from Germany is also in talks to add more money and Softbank in the captable at $1 bill valuation.

The British seem to be more calm that the Germans, as some of the aspirational ones  (Dija and Weezy) have been quiet in the past 100 days. Zapp emerged out of nowehere last month in what looked like a media leak designed to make public some investors name without specifics, other than a $100 million raised since the 2020 launch.

Notably, the French one, Cajoo, is also executing in silence.

They should probably raise soon or they'll be at competitive disadvantage to the top tier - the sooner they announce the better their initial traction looks like. 

πŸ‡¬πŸ‡§ Zapp
- raised a total of 100 million
- investors: Atomico, Lightspeed, Burda

πŸ‡¬πŸ‡§ Dija
- raised 30 million at the end of 2020 + acquired a local UK player
- investors: Index, Passion, Blossom, Creandum

πŸ‡¬πŸ‡§ Weezy
- raised 20 million in March
- investors: Left Lane, DN Capital, Heartcore


πŸ‡«πŸ‡· Cajoo
- raised $6.2 million

- investors: First, Xange

Some of the high profile Euro investors not in a grocery startup captable (yet) include Accel, Balderton, LocalGlobe/Latitude, EQT Ventures (they're on Wolt though) and the Americans from Insight Partners and General Catalyst.

 


 

Interesting startups

 

πŸ‡©πŸ‡ͺ Cleanhub
verticals: B2B marketplace
HQ: Berlin
founded: 2020
investors: Lakestar, 468 Capital, Übermorgen Ventures
raised: $3.7 million

Cleanhub, founded by  Bosse Rothe, Joel Tasche and Florin Dinga, developed a digital platform that enables the large scale collection of plastic waste in coastal regions while offering solutions for brands to have verifiable environmental impact.

The company connects all the stakeholders (collectors, recyclers and sponsors) via an app keeping account of the person, quantity, quality and location for all plastic that is recovered.

Cleanhub just raised $3.7 million.

 

πŸ‡©πŸ‡° Veras
verticals: consumer fashion marketplace
HQ: Copenhagen
founded: 2015
investors: angels

Veras, founded by Rebecca Vera Stahnke, built and operates an online clothes swapping platform, and is one of the more popular second hand clothing markets in Denmark.

They're only local but have scaling potential in a hot emergent segment in Europe, where Depop just got acquired by Etsy.

 

πŸ‡«πŸ‡· Vital Health
vertical: consumer health tech
HQ: Paris
founded: 2020
investors: JME Ventures
raised: n/a

Vital Health is the European version of Levels - a wearable company that tracks blood glucose levels in real time and aims to be a metabolic health coach.

If you're not familiar with Levels - they're super hot on the American West Coast, raised $12 million from top investors, I actually happen to know a couple of guys who couldn't get in the round.

Vital Health just got seeded by a Spanish VC.

 

πŸ‡©πŸ‡ͺ aiConomix
vertical: SAAS - RPA
HQ: Aachen
founded: 2020
investors: Visionaries Club

aiConomix, founded by CEO Denis Golovin, Eric Marre and Alexander Schwabauer, looks like a light version of UiPath. They built a software solution acting as an intelligent assistant used to analyse and automate digital processes by itself.

The assistant works together with the employee - similar to an auto-complete on a smartphone keyboard. Instead of words the tool learns and suggests automated processes and execute them when the user needs them - all in the employee's familiar working environment.

They just raised.

 

πŸ‡¬πŸ‡§ Woolf
verticals: SAAS, education
HQ: Oxford
founded: 2018
investors: Connect Ventures, high profile angels
raised: $2 million

Woolf is one of the few startups from Europe that I have gotten excited lately, perhaps because they disrupt an area I am fond of - education.

Built by a former Oxford professor, Woolf provides an online platform that allows brick-and-mortar colleges, academic groups, and corporations to create and exchange accredited courses and degrees.  They can mesh them at their own will, creating entirely new degree pathways that are automatically accredited as every unit of the platform is checked for compliance, both individually and in combination.

Woolf just raised $2 million.

 

πŸ‡³πŸ‡± Envision
vertical: SAAS healthcare
HQ: The Hague 
founded: 2017
investors: 4impact, Impact Ventures, ABN
raised: $2.1 million.

Envision, founded by Karthik Mahadevan and Karthik Kannan, develops AI-assistive technology for the blind and visually impaired people.

The tech is available for use in two different ways: on assistive smart glasses as embedded, hands-free technology (currently in partnership with Google Glass with an ability to add different smart glasses in future), and as an iOS and Android smartphone app.

Envision just raised $1.8 million.

 


 

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Euro Intel Euro Intel

Data-based intel from theΒ European startup ecosystem written professionally in an easy to understand format - tactical bits and industry-wide trends, curated deals, active investors and relevant early stage transactions.

Published every Monday morning and emailed to the Nordic 9 customers - investors, founders and decision makers willing to stay updated with the strategic moves from Europe.

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