• many moves at the edge of the market - new funds, secondary deals, exits, non AI growth deals
• same goes for the early stage deals, notably with Kleiner Perkin's first European investment startup this year.

 

 

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Interesting deals

Nordics

🇪🇪 ​Sera​, building an AI-powered platform used to automate prospecting and lead sales qualification, did a pre-seedfunding round with Specialist VC and angel investors.

🇫🇮 ​LastBot​, developing a marketing and sales AI tool used for hyper-personalized interaction, raised money from Telenor.

🇸🇪 ​Dx4Life​, developing a novel biomarker for determining fertility odds in less than 30 minutes, raised $700k in a deal led by Gobia.

🇩🇰 ​Cernel​, developing an AI-enabled content platform, raised $800k in a pre-seed investment round with Founderment, EIFO and angel investors.

🇫🇮 ​Taito​, doing a SAAS framework used to automate employee performance enablement, secured a $2.7 million seedround led by Accel joined by angel investors.

🇫🇮 ​Delta Cygni Labs​, developer of video tech used for communication in remote operations, autonomous and semi-autonomous machines, raised $3.3 million seed led by First Gate Invest, joined by StartMore, Therman Group, and angel investors.

🇸🇪 ​Kodiak​, developing SAAS for Supplier Relationship Management, raised $6.5 million from Oxx. 

🇸🇪 ​Candela​, producer of electric boats, raised $15 million in a series C extension with SEB Private Equity, EQT Ventures and a local family office.

 

Germany

🇩🇪 ​Ubitium​, manufacturer of microprocessors chips, raised $3.7 million in a seed funding round from Runa Capital, Inflection and KBC Focus Fund.

🇩🇪 ​Pruna AI​, developing an AI optimization engine for ML teams, raised a $6.5 million seed round led by EQT Ventures, joined by Daphni, Motier, Kima Ventures and angel investors.

• French-German team of fresh school graduates building a model able to reduce the energy and computational power required to run them
• deal led by EQT's ​Carl Svantesson​
• that's the third seed deal done by EQT Ventures in Europe this year, alongside 3 other pre-seed transactions - in total we have tracked the Swedes having done ​22 deals​ thus far in 2024.

🇩🇪 ​Juna AI​, building developing AI agents running industrial processes for factories, raised $7.5 million in a seed round from Kleiner Perkins, Norrsken VC, and John Doerr of KP's fame.

• this one done by an experienced crew - a ​repeat founder​ who sold an AI startup in 2021 and an ex-CTO at Delivery Hero.
• that's KP's first European deal this year, besides a series C follow on (🇩🇪 ​Inkitt​) - ​portfolio​

🇩🇪 ​Eye-Able​, acting as a holistic provider of digital accessibility sold as SAAS, raised $22 million in a deal led by Yttrium, joined by angel investors.

• started in 2020, on the premise of the EU having made mandatory to make online offers aimed at consumers accessible by June 2025. This applies to all commercial and public organisations.
• 2,000 customers mostly from Germany, 4X growth yoy

🇩🇪 ​Apaleo​, developing an API-first open property management platform, secured $22 million series B investment led by PSG, joined by Redalpine, FOMCAP, and Rockaway Ventures.

 

France

🇫🇷 ​Entropia​, developing an information management solution used to extract structured information from unstructured data, raised pre-seed funding with Kima Ventures and angel investors.

🇫🇷 ​Haiku​, developing an AI tool extracting intel for legal information and assisting in case preparation, raised $1.4 million pre-seed with Newfund and angel investors.

🇫🇷 ​Eden AI​, building a SAAS aggregating access to AI engines, closed a $3.3 million pre-seed deal with Galion, SuperCapital and angel investors.

🇫🇷 ​Primaa​, developing an AI-based platform for automated and accurate cancer diagnosis, raised $5.5 million pre-seedwith Cenitz, Leia Capital, Cléry, 50 Partners and angel investors.

🇫🇷 ​Metron​, doing a virtual assistant used for providing energy intelligence for the industrial sector, raised a $13.6 million B extension round led by GET Fund, joined by BNP Paribas, Climate Investment and Vertigo.

• the French also announced being breakeven, handling business for 200 manufacturers and 25,000 sites worldwide
• initial series B was resumed in 2021, with proceeds of $22 million. 

🇫🇷 ​FairCraft​, building a business of manufacturing an alternative to animal leather, raised $16 million series A from Kindred Ventures, Cap Horn, Entrepreneur First, Alliance for Impact, BPI, and Heirloom.

 

The UK

🇬🇧 ​Light Trace Photonics​, building a component library for facilitating rapid photonic chip product development, raised $800k pre-seed.

🇬🇧 ​Civic Marketplace​, developing a logistics platform providing government procurement offices with the ability to make purchases with ease, simplicity, and full legal compliance, raised $3.3 million seed led by Kindred Capital, joined by Avalanche VC, Basis Capital and angel investors.

🇬🇧 ​Popp AI​, developing a tool that enables hiring teams to rapidly deploy AI-operated recruitment campaigns for any open role, raised $4.5 million seed with Emerge and SuperSeed.

🇬🇧 ​Goodstack​, selling payment rails for non profits and charitable donation companies, raised $28 million in a Series Afunding round, led by General Catalyst, joined by Morpheus Ventures and Repeat VC.

• on track to facilitate donations of over $3 billion in 2024.

🇬🇧 ​Nivoda​, operator of a B2B marketplace for diamonds and jewellery, raised a $51 million series C led by Northzone, joined by Avenir, Headline, Abstract Ventures and Canaan Partners.

• deal comes as series B was closed at $30 million a mere six months ago 
• bold move by Northzone, signalling one of the rare non-AI scale up bets from this year in a rather sad and empty European ecosystem - lead person was ​Sanjot Malhi​.
• KPI wise, pre-series B - yoy 140% increase in revenue, 162% active customer base, 124% growth for order count as of December ‘23.
• for those keeping track, the Brits founded the project in 2017, and seeded it with money raised from a ​NYC fund​all the way to a $11 million series A led by Headline in 2023. 

Other geo

🇪🇸 ​Rhyde​, refurbisher of electric scooters and e-bikes, offering them to individual and commercial customers, raised $500k with Akka and EIT Urban Mobility.

🇪🇸 ​Teal​, developing a European payroll data API platform for the credit industry, raised $500k from angel investors.

🇳🇱 ​LearnWise​, selling AI assistants for universities, raised a $2 million seed round led by Emerge Education.

🇳🇱 ​Firsty​, building a MVNO via an easy-to-use app with access to messaging, email and online calling, raised $5.6 million in a seed deal led by Speedinvest, joined by Dutch Founders Fund.

🇮🇹 ​Cardo AI​, doing SAAS for advanced portfolio modeling and collateral data management in the financial sector, raised $15 million in Series A funding round with Blackstone, Fintop Capital and Jam Fintop.

• strategic deal, as Blackstone will also implement Cardo's tech and the latter investors will provide access to a network of 100 American would-be customers

🇵🇹 ​Tekever​, selling drones with integrated AI specifically tailored for monitoring and detecting activity on water, raised $76 million in a Series B funding round led by Baillie Gifford, joined by the NATO Fund, NSSIF, Crescent Cove Advisors, Iberis Capital and Cedrus.

 

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

 

 

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Investors

On the move

🇸🇪 ​Nathalie Öhlander​ joined Climentum Capital for building a Swedish presence out of Stockholm, after having spent almost three years with the local family office Gullspång.

 

Fresh Powder

🇩🇪 Extantia Capital closed commitments worth ​€204 million​ for a fund that will back early-stage climate startups.

🇫🇮 Play Ventures raised a ​$140 million​ third fund to invest in games and consumer startups.

• the fund is Singapore-based, founded by two Finnish guys: Henric Suuronen and Harri Manninen, and fairly active in Europe.

🇮🇹 The Techshop announced the final closing of its first fund, Techshop Primo, at ​€53 million​.

🇩🇪 Nucleus Capital announced 90% commitments for a ​€40 million​ fund focused on synthetic biology startups in Germany.

🇱🇹 BSV Ventures announced closing a ​€15 million​ debut fund to be deployed on pre-seed and seed deeptech startups in the Baltics. 

🇫🇷 Hoji announced securing ​€8.5 million​ for a startup studio to fund 10 startups active in the environmental transition of industrial sectors. 

🇫🇷 Good Only Ventures announced raising ​€3 million​ from a 8 million target for funding early stage impact startups in France.

 

Also notable

🇬🇷 Greek NBA player Giannis Antetokounmpo ​launched​ a venture fund called Build Your Legacy Ventures, which will focus on investments in sports, entertainment and technology.

🇧🇪 ​Odoo​ announced completing a ​€500 million​ secondary deal led by CapitalG and Sequoia Cap, along withBlackRock, Mubadala Investment Company, HarbourVest Partners, AVP, and Alkeon.

• deal values the company at €5 billion.
• growth at 40% per year, expecting to reach €1 billion in billings by 2027.

🇮🇪 Stripe also plans a secondary deal, with another stock buy back to be done at a ​$70 billion​ valuation, the same price as in a tender earlier this year.

🇸🇪 Singular VC and Adjacent exited from Chroma, a Swedish developer of a sound technology for smartphones, acquired by Bronze in ​a stock deal​.

• Chroma raised ​$5.5 million​ seed back in 2022. 

🇺🇸 ​Arpan Shah​ joined Spark Capital as a general partner after almost three years as a partner with Pear VC and another two as a scout for Sequoia. 

 

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