• funding for web3 tools: Stripe-like payment platform, CRM
• AI-focused early stage: incident management, gaming, diabetes
• Nordic investors in American deals
• British VC expands Euro reach

 

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Interesting deals

Nordics

🇸🇪 The Ontology Way, developing technology that helps businesses reduce their greenhouse gas emissions, raised angel funding.

🇸🇪 Refurbly, operating a digital marketplace for refurbished smartphones, raised pre-seed funding from local angel investors.

🇳🇴 Conclude, developing an AI-based incident management tool, was pre-seeded by angel investors in Norway.

🇸🇪 Hooked Seafood, producers of plant-based salmon alternative, secured a $1 million bridge round from existing investors.

🇱🇹 Perfection42, developing an AI-based technology for game developers, 3D animators or video creators, raised $1.2 million seed from CoInvest Capitaland Open Circle Capital. 

🇸🇪 Reactional Music, developing a platform for in-game music personalization, raised $2 million Pre-Series A funding round led by Amanotes and Butterfly Ventures. 

🇸🇪 Kodiak Hub, developing a Supplier Relationship Management SAAS platform doing sales of $2M+ from 50 customers, raised $5.3 million series Aled by blq.

🇳🇴 Oivi, developing a smart camera for detection of diabetes-related eye diseases, raised $2.9 million from existing investors.

🇩🇰 LMS365, a learning platform built with Microsoft technology, raised a $20 million round led by New York-based Blue Cloud Ventures, joined by Singapore’s Kamet Capital and existing shareholders.

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DACH 

🇩🇪 Natix, developing a decentralized camera network for creating real-time urban maps for smart cities, raised $3.5 million in a round led by Blockchange Ventures. 

🇩🇪 Prestatech, operating an embedded finance platform acting as a digital credit factory for providing a variety of credit services, raised $4.4 million in a bridge round backed by CDP.

🇩🇪 Quantica, manufacturer of voxel-level 3D printing of multi-material, multi-color, multi-functional parts, and products, raised $15 million in a series Abacked by byFounders and Scale Capital. 

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The UK

🇬🇧 ManholeMetrics, producing and selling low-cost, long-life and easy to install sensors for monitoring wastewater levels, raised £300K seed from Ascension Ventures.

🇬🇧 Nolea Health, developing a white-labelled clinician jobs marketplace for mental healthcare, raised $1.2 million in a seed round led by Frontline Ventures with participation from Calm/Storm Ventures. 

🇬🇧 Helio, developing a web3 payment infrastructure solution dubbed Striper for web3, raised $3.3 million seed from investors led by Lightspeed Factionand Peak Capital.

🇬🇧 Solasta Bio, biotech producer developing eco-friendly insecticides, raised $5 million pre-Series A round led by Yield Lab Europe, joined by Rubio Impact, Scottish Enterprise, Cavallo Ventures, SIS Ventures, and UKI2S. 

🇬🇧 Abatable, developers of carbon procurement and market intelligence technology, raised $13.5 million series A from Azora Capital.

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France

🇫🇷 Korint, building an insurance platform used to help insurers and underwriters launch digital native products, raised $2.2 million seed from 360 Capital.

🇫🇷 Absolute Labs, developing a full-funnel Web3 CRM and marketing automation platform, raised a $8 million seed round backed by Aglaé Ventures, Alpha Praetorian Capital, The Luxury Fund, Near Foundation, MoonPay, Animoca.

🇫🇷 Graneet, doing a vertical SAAS for small and medium construction companies, raised $8.7 million series A co-led by Point Nine and Foundamental.

🇫🇷 Pricemoov, developing a price optimisation tool for e-commerce ops, raised $10 million series A co-led by Isai and Bpifrance. 

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Other geographies 

🇧🇬 Dynamic Pricing, developing AI-based retail pricing management tools, raised $600k in pre-seed funding from local Bulgarian backers.

🇪🇸 Kimera, developing computer vision AI tools, raised $700k pre-seed from Addendum Capital, Adara Ventures, Bonsai Partners, and BStartup Banco Sabadell and Spanish angels.

🇸🇰 Sensible Biotechnologies, developing a cell-based platform for the production of high-quality mRNA, raised a $4.2 million pre-seed round led by BlueYard, joined by Y Combinator, Amino Collective, Civilization Ventures, Recode Health, ZAKA.

🇳🇱 NewOrigin, operating as a photonic chips foundry to produce silicon nitride chips, received $6 million from PhotonDelta.

🇱🇺 Next Gate Tech, a provider of data management software to investment funds, raised €8 million in a round led by Deutsche Börse.

🇧🇪 Thynk, developing a cloud-based SAAS that automates sales, operations, and data management for the corporate travel and hotel industry, raised $13 million series A led by Singular, joined by CNP and Fly Ventures. Thynk was pre-seeded by Fly Ventures in 2022.

🇳🇱 Safesize, D2C producer of shoes using 3D scanning technology powered by a self-learning recommendation algorithm, raised $15 million series Bbacked by 3TS Capital, 5G Ventures and Convent Capital. 

🇪🇸 SolarMente, YC alum (2021) that sells consumer solar energy systems and founded by Rabobank's CEO son, raised €50 million in debt and equity in a round solely backed by GNE Finance. It sells about 1000 systems a year in Spain only and previously raised a 2 million pre-seed round from Soma Cap, Telegraph Hill, GFC and Liquid2.

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Please note that this is just a selection of interesting early stage transactions, all deals (many more!) are available here. Pro tip: use advanced trackers to learn about new deals by industry, country, stage or a specific set of investors.

 

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Investors

Powder

🇩🇪 Golding Capital Partners is raising €600 million for its third co-investment fund.

🇸🇪 Procuritas raised its seventh fund, largest to date, with €407 million in capital to fund mid-sized companies active in service consolidation platforms, digital consumer, software and niche industrial verticals.

🇫🇷 blisce/ closed its second fund at $250 million for doing Series A to C deals, with an average investment of $15-$20 million.

🇫🇷 Educapital announced the closing of a second fund at €150 million to invest in edtech and future of work startups.

🇳🇱 4impact announced the first close of a second fund, building towards a €100 million size.

🇬🇧 Albion VC completed a £80 million fundraising process across its six venture capital trusts (VCTs) to be spent on software, healthcare and mission critical tech enabled services.

🇸🇪 NEA Partners announced a first closing at $48 million of a newly launched fund, its third. 

🇩🇰 Ugly Duckling Ventures announced the closing of a $22 million fund to back Danish startups. 

🇨🇿 Czech AI Startup Incubator launched Look AI Ventures, a new Prague-based VC fund aiming to raise €20 million which will be invested in early stage AI-driven companies. 

🇩🇪 Blockchain Founders Capital announced the first closing of its €15 million micro venture capital fund focused on early-stage investments in the web3 space.

🇩🇰 Obton launched a second battery fund, Obton Scale, a successor to their first battery fund, Obton Dynamic, which was fully subscribed in early March 2023.

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On the move

🇩🇪 Deutsche Bank hired William Mansfield, Credit Suisse’s head of European M&A.

🇬🇧 Atomico is increasing its European reach in Berlin, Stockholm and Paris: 
- Mathieu Marc, VP in France​
- Laura Connell, Partner in France​
- Konstantin Zedelius, VP in Germany 
- Luca Eisenstecken, Partner in Germany​
- Amanda Hultman, associate in Stockholm​
- Andreas Helbig. Partner in Stockholm

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Exits

🇮🇪 Frontline Ventures, Enterprise Ireland and Tiger Global exited from Workvivo, a Cork-based employee experience app acquired by Zoom. Workvivo had raised over $40 million.

🇫🇷 Frst, Otium, The Family and Kima in a partial exit with Doctrine, a French legal intelligence company which just sold a major package to Summit Partners and Peugeot Invest. Doctrine was founded in 2016, raised some 12 million.

🇫🇮 OpenOcean and 🇫🇷 Axa Venture Partners exited from the NY-based small biz insuretech Thimble, acquired by Arch Insurance. Thimble raised about $30 million in venture money.

🇩🇰 Nordic Secondary Fund has acquired an additional stake in Kilo.Health, a digital health and wellness company from Lithuania.

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Also notable

🇱🇹 SME Finance, developing a real time AI-driven technology platform for the financial services, secured a €100 million credit line from Fasanara Capital.

🇳🇱 Context Labs, a data provider that helps companies track carbon emissions with offices in Amsterdam and Cambridge in US, is looking for funding of up to $150 million from investors. It raised $22 million series A in February 2022, backed by Equinor, Shamrock, BP and KPMG.

🇫🇮 Alphasense, the Finnish startup that's now HQ-ed in New York, raised $100 million at $1.8 billion valuation in a deal backed by CapitalG, Viking Global and Goldman Sachs.

🇸🇪 H&M led and 🇩🇰Bestseller’s Invest Fwd contributed to a $8 million Series A funding round closed by Kintra Fibers, a New York-based maker of bio-based polyester alternatives.

🇬🇧 Giant Ventures co-led a $4.2 million seed round closed by Haven Energy, a climate technology startup from Los Angeles started by the founders of the direct-to-consumer mattress company Casper.

🇩🇪 Picus Capital contributed to a $3.5 million seed raised by SimpliContract, an Indian startup doing an AI-based contract lifecycle management platform.

🇬🇧 Dig Ventures co-invested in the $5.2 million seed round closed by Reef, a Honolulu-based SAAS revenue platform.

🇬🇧 Metric Capital Partners and 🇸🇪 Scope Capital have partnered to acquirea major share package in Maileg, a bootstrapped high-end Danish toy brand.

🇸🇪 EQT is in talks to buy British veterinary drugmaker Dechra for around $5.8 billion, representing a 46% stock price premium, with Abu Dhabi Investment Authority participating as a co-investor.

🇫🇮 Sega, the Japan-based entertainment conglomerate is expected to pay about $1 billion for Rovio Entertainment, the Finland-based Angry Birds maker.

🇫🇷 Pegasus Europe, Europe's largest SPAC, said it will wind down and return investor money after failing to find a merger partner. Launched in 2021, the SPAC raised €484 million and was backed by Bernard Arnault and ex-UniCredit CEO Jean Pierre Mustier.

🇺🇸 500 Global opened a startup accelerator program based out of Tblisi, Georgia, which plans to back upwards of 100 pre-seed to seed-stage companies from countries in the Caucasus, Eastern Europe, Central Asia and the Baltics, with pre-seed investments starting at $100,000.

 

 

 

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