Weekly Startup Ecosystem Overview in Europe / August 12 – 16

This week, more than 70 funding rounds took place in European entrepreneurship ecosystem. Here is the notable funding rounds and secondary transactions between August 12 – 16:

Investments:

3 United Kingdom (UK), 1 Netherlands, 1 Portugal, 1 Iceland

Sectors Received Investments:

1 Financial Services

1 Health Care

1 Gaming

1 Renewable Energy

1 CleanTech

1 Pharmaceutical

News of the Week

🎯 Payment solutions provider Sling Money raised $15 million.

Sling Money, which provides an app that leverages stablecoin and real-time payment technology to allow people to move money anywhere, has raised $15 million in Series A funding round, led by Union Square Ventures, Ribbit Capital and Slow Ventures.

Transaction Type: Investment

Investors: Union Square Ventures, Ribbit Capital, Slow Ventures

Co-founders: Mike Hudack, Simon Amor

Headquarters: The Netherlands

🎯 Tech-enabled teleradiology startup Hexarad raised €13 million.

Hexarad, a tech-enabled teleradiology that supports the remote reporting of medical scans such as CTs, MRIs and X-rays, has raised €13 million from MTIP and Foresight Group.

Transaction Type: Investment

Investors: MTIP, Foresight Group

Co-founders: Farzana Rahman

Headquarters: United Kingdom (UK)

🎯 Gaming distribution platform FRVR raised $12.7 million.

FRVR, a game platform provider, has raised $12.7 million, led by Iberis Capital. Indico Capital Partners, Lince Capital and Hiro Capital also participated in the investment round.

Transaction Type: Investment

Investors: Iberis Capital, Indico Capital Partners, Lince Capital, Hiro Capital

Co-founders: Chris Benjaminsen, Brian Meidell

Headquarters: Portugal

🎯 Novel solution provider Gaussion raised $12 million.

Gaussion, which develops a novel solution using an external magnetic field to enhance battery performance, has raised $12 million in Series A funding round. The investment round was led by Autotech Ventures, with participation from BGF and UCL Technology Fund.

Transaction Type: Investment

Investors: Autotech Ventures, BGF, UCL Technology Fund

Co-founders: –

Headquarters: United Kingdom (UK)

🎯 Chemical manufacturing company Promethean Particles raised £8 million.

Promethean Particles, which manufactures industrial scale, cost effective nanomaterials with a focus on decarbonisation applications, has raised £8 million in Series A funding round, led by Mercia Ventures and Aramco Ventures. Midlands Engine Investment Fund I, the University of Nottingham, TSP Ventures and the East Midlands Early Growth Fund also participated in the investment round.

Transaction Type: Investment

Investors: Mercia Ventures, Aramco Ventures, Midlands Engine Investment Fund I, he University of Nottingham, TSP Ventures, the East Midlands Early Growth Fund

Co-founders: –

Headquarters: United Kingdom (UK)

🎯 AI-assisted decision support platform Plaio raised €4.3 million.

Plaio, an Iceland-founded AI-assisted decision support platform for the pharmaceutical industry, has raised €4.3 million. The investment round was led by Iðunn, a venture capital fund managed by Kvika Asset Management, with participation from existing investors Frumtak Ventures and Dr. Agon.

Transaction Type: Investment

Investors: Iðunn, Frumtak Ventures, Dr. Agon

Co-founders: Johann Guðbjargarson

Headquarters: Iceland

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