Weekly Startup Ecosystem Overview in Europe / December 18 – 22

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This week, more than 75 funding rounds took place in European entrepreneurship ecosystem. Here is the notable funding rounds and secondary transactions between December 18 – 22:


2 United Kingdom (UK), 1 Denmark, 1 Sweden, 1 Germany, 1 France, 1 Austria

Sectors Received Investments:

1 Financial Services

1 Digital Entertainment

1 Solar Energy

1 Cloud Security

1 Renewable Energy

1 Fashion

1 SaaS

News of the Week

🎯 Financial planning app Updraft raised £272 million.

Updraft, which offers consumer lending and financial planning services, has raised £272 million in debt and equity funding round from Jefferies and Santander Corporate.

Transaction Type: Investment

Investors: Jefferies, Santander Corporate

Co-founders: Aseem Munshi, David Yalland, Matt Millar

Headquarters: United Kingdom (UK)

🎯 Open podcast platform Podimo raised €44 million.

Podimo, podcast and audiobook subscription service provider, has raised €44 million from Export and Investment Fund, HighlandX and Augustinus Fabrikker.

Transaction Type: Investment

Investors: Export and Investment Fund, HighlandX, Augustinus Fabrikker.

Co-founders: Morten Strunge, Nikolaj Koppel, Sverre Dueholm, Andreas Sachse, Eva Lægdsgaard

Headquarters: Denmark

🎯 Solar cell technology developer Exeger raised €35 million.

Exeger, which develops and commecializes solar cell technology that can absorb light and convert it into electric, has raised €35 million in debt financing from European Investment Bank.

Transaction Type: Investment

Investors: European Investment Bank

Co-founders: Giovanni Fili

Headquarters: Sweden

🎯 Specialized IT security provider Link11 raised €26.5 million.

Link11, an IT security provider that offers cloud-based security solutions for performance, network and web protection, has raised €26.5 million from Pride Capital Partners.

Transaction Type: Investment

Investors: Pride Capital Partners

Co-founders: Jens-Philipp Jung

Headquarters: Germany

🎯 Renewable energy startup Sweetch Energy raised €25 million.

Sweetch Energy, a renewable energy company that specialices in osmotic energy, has raised €25 million in Series A funding round, led by Révolution Environnementale et Solidaire, a fund managed by Crédit Mutuel Impact, with participation from other investors.

Transaction Type: Investment

Investors: Révolution Environnementale et Solidaire, other investors

Co-founders: Nicolas Heuzé

Headquarters: France

🎯 Fashion rental platform Hurr raised $10 million.

Hurr, a combination of a peer-to-peer marketplace and a white-label SaaS solution that enables consumers to rent high fashion items from top brands, has raised $10 million from Praetura Ventures, Octopus Ventures, Ascension and D4 Ventures.

Transaction Type: Investment

Investors: Praetura Ventures, Octopus Ventures, Ascension, D4 Ventures

Co-founders: Victoria Prew

Headquarters: United Kingdom (UK)

🎯 SaaS platform provider Hydrogrid raised $8.5 million.

Hydrogrid, which offers automated IoT software for the optimal, real-time planning and dispatch of hydropower plants, has raised $8.5 million in Series A funding round. The investment round was led by Inven Capital and Karma Ventures, with participation from CNB Capital and SET Ventures.

Transaction Type: Investment

Investors: Inven Capital, Karma Ventures, CNB Capital, SET Ventures


Headquarters: Austria

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