Weekly Startup Ecosystem Overview in Europe / July 10 – 15

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This week, more than 50 funding rounds took place in European entrepreneurship ecosystem. Here is the notable funding rounds and secondry transactions between July 10 – 15:


4 France, 3 Germany, 3 United Kingdom (UK), 2 Netherlands, 2 Norway, 1 Belgium


2 Ireland, 1 Norway, 1 United Kingdom (UK)


1 Dublin-based startup acquires US-based company.

Sectors Received Investments:

2 Fintech

1 Air Transportation

1 Semiconductor

1 Renewable Energy

1 Agritech

1 Artificial Intelligence

1 Waste Management

1 Mobility

1 Logictics

1 Product Research

1 Manufacturing

1 Health Care

1 Insurtech

News of the Week

🎯 Fintech firm Defacto raised funding.

Defacto, a fintech firm that offers short term financing for small and medium companies via an embedded, API-first approach, has raised €167 million in debt funding round from Citi and Viola Credit.

Transaction Type: Investment

Investment Amount: €167.000.000

Investors: Citi, Viola Credit

Co-founders: Jordane Giuly, Morgan O’hana, Marc-Henri Gires

Country: France

🎯 Embedded finance platform Solaris raised funding.

Solaris, a Banking-as-a-Service platform that enables other companies to offer their own financial services via APIs, has raised €38 million in Series F funding round from Samsung Catalyst Fund, FJ Labs, Lakestar and BBVA.

Transaction Type: Investment

Investment Amount: €38.000.000

Investors: Samsung Catalyst Fund, FJ Labs, Lakestar, BBVA

Co-founders: Andreas Bittner, Marko Wenthin

Country: Germany

🎯 Aircraft company Lilium raised funding.

Lilium, an aircraft company that is developing an electrically powered aircraft, has raised $192 million in shares sale and matching contribution from Tencent.

Transaction Type: Investment

Investment Amount: $192.000.000

Investors: Tencent (Post-IPO Equity)

Co-founders: Daniel Wiegand, Matthias Meiner, Patrick Nathen, Sebastian Born

Country: Germany

🎯 Independent foundry SMART-Photonics raised funding.

SMART-Photonics, a pure-play foundry for Indium Phosphide photonics semiconductors, has raised €100 million in debt-financing round from Rabobank, Innovation Industries, Government of the Netherlands, ASML, Brabant Development, VDL Groep, KPN Ventures, PhotonDelta and NXP Semiconductors.

Transaction Type: Investment

Investment Amount: €100.000.000

Investors: Rabobank, Innovation Industries, Government of the Netherlands, ASML, Brabant Development, VDL Groep, KPN Ventures, PhotonDelta, NXP Semiconductors

Co-founders: Luc Augustin, Maarten Wellens, Richard Visser

Country: Netherlands

🎯 Clean battery solution provider Freyr Battery raised funding.

FREYR, which develops clean battery solutions for industrial-scale applications, with a focus on reducing global emissions, has raised €100 million from EU Innovation Fund.

Transaction Type: Investment

Investment Amount: €100.000.000

Investors: EU Innovation Fund

Co-founders: Peter Matrai, Tom Einar Jensen, Torstein Dale Sjøtveit

Country: Norway

🎯 Agritech and portfolio company Aphea.Bio raised funding.

Aphea.Bio, which offers research and development in the areas of bioinsecticides and bioherbicides, has raised €70 million in Series C funding round. The investment round was led by Innovation Industries, with participation from Bill & Melinda Gates Foundation, Korys, BNP Paribas Fortis, SFPIM, Astanor Ventures, European Circular Bioeconomy Fund and Agri Investment Fund.

Transaction Type: Investment

Investment Amount: €70.000.000

Investors: Innovation Industries, Bill & Melinda Gates Foundation, Korys, BNP Paribas Fortis, SFPIM, Astanor Ventures, European Circular Bioeconomy Fund, Agri Investment Fund

Co-founders: Isabel Vercauteren

Country: Belgium

🎯 Preclinical discovery platform Causaly raised funding.

Causaly, which develops a biomedical research discovery tool designed to find and unlock key hidden evidence in biomedicine, has raised $60 million in Series B funding round led by ICONIQ Growth. Alex Gorsky, Index Ventures, EBRD (Investment Firm), Olivier Pomel and Marathon Venture Capital also participated in the invesment round.

Transaction Type: Investment

Investment Amount: $60.000.000

Investors: ICONIQ Growth, Alex Gorsky, Index Ventures, EBRD (Investment Firm), Olivier Pomel, Marathon Venture Capital

Co-founders: Artur Saudabayev, Yiannis Kiachopoulos

Country: United Kingdom (UK)

🎯 Recycling company Wastefront raised funding.

Wastefront, a rubber waste recycling company that converts old tyres into new commodities, has raised $43 million, with a strategic partnership with Dutch energy company VTTI.

Transaction Type: Investment

Investment Amount: $43.000.000

Investors: VTTI

Co-founders: –

Country: Norway

🎯 Charging automation company Rocsys raised funding.

Rocsys, which provides autonomous robotic chargers for electric vehicles, has raised €33 million (approximately $36 million) in Series A funding round. The investment round was led by SEB Greentech Venture Capital, with participation from Graduate Entrepreneur, the European Investment Bank and Forward.One.

Transaction Type: Investment

Investment Amount: €33.000.000

Investors: SEB Greentech Venture Capital, Graduate Entrepreneur, European Investment Bank, Forward.one

Co-founders: Crijn Bouman, Joost van der Weijde, Kanter Van Deurzen

Country: Netherlands

🎯 Logistics provider Raft raised funding.

Raft, an intelligent logistics platform that automates the process for freight forwarders and customs brokers, has raised $30 million in Series B funding round, led by Eight Roads Ventures. Dynamo, Episode 1, Bessemer Venture Partners and Moguntia Capital also participated in the investment round.

Transaction Type: Investment

Investment Amount: $30.000.000

Investors: Eight Roads Ventures, Dynamo, Episode 1, Bessemer Venture Partners, Moguntia Capital

Co-founders: James Coombes, Nisarg Mehta

Country: United Kingdom (UK)

🎯 Ethical research and ai-training platform Prolific raised funding.

Profilic, which builds advanced global infrastructure for people science, has raised £25 million in Series A funding round, co-led by Partech and Oxford Science Enterprises (OSE).

Transaction Type: Investment

Investment Amount: £25.000.000

Investors: Partech, Oxford Science Enterprises

Co-founders: Ekaterina Damer, Jim Moodie, Phelim Bradley

Country: United Kingdom (UK)

🎯 Microdisplay maker Microoled raised funding.

Microoled, a provider of microdisplays for mobile near-to-eye viewing devices, has raised €21 million in Series B funding round. The investment round was led by Jolt Capital, with participation from Ventech, Cipio Partners and Bpifrance.

Transaction Type: Investment

Investment Amount: €21.000.000

Investors: Jolt Capital, Ventech, Cipio Partners, Bpifrance

Co-founders: Eric Marcellin-Dibon, Gunther Haas

Country: France

🎯 Plastic recycling robotics company b:bot raised funding.

b:bot, which manufactures plastic bottles from recycled or petroleum-based materials, has raised €21 million from Eiffel Investment Group and Crédit Agricole Innove en Normandie.

Transaction Type: Investment

Investment Amount: €21.000.000

Investors: Eiffel Investment Group, Crédit Agricole Innove en Normandie,

Co-founders: Benoit Paget

Country: France

🎯 AI-based support platform Sonio raised funding.

Sonio, an AI-based support platform for fetal ultrasound, helping practitioners analyze and diagnose congenital malformations, has raised $14 million in Series A funding round, co-led by Cross-Border Impact Ventures and Elaia.

Transaction Type: Investment

Investment Amount: $14.000.000

Investors: Cross-Border Impact Ventures, Elaia

Co-founders: Cecile Brosset, Emmanuel Spaggiari, Erwan Le Pennec, Julien Stirnemann, Remi Besson, Stephanie Allassonniere, Yves Ville

Country: France

🎯 Insurtech plaform Hepster raised funding.

Hepsteri an insurtech company that focuses on the insurance sector, has raised €10 million in Series B funding round from Seventure Partners, Element Ventures and Claret Capital Partners.

Transaction Type: Investment

Investment Amount: €10.000.000

Investors: Seventure Ventures, Element Ventures, Claret Capital Partners

Co-founders: Christian Range, Hanna Bachmann

Country: Germany

🛒 Kahoot! gets acquired.

Game-based learning platform Kahoot! has agreed to ash offer of $1.72 billion from Goldman Sachs, General Atlantic, Kirkbi invest, Glitrafjord AS and other undisclosed investors and management shareholders.

Transaction Type: Acquisition

Investors: Goldman Sachs, General Atlantic, Kirkbi invest, Glitrafjord AS, other investors

Co-founders: Alf Inge Wang, Asmund Furuseth, Jamie Brooker, Johan Brand, Morten Versvik

Country: Norway

🛒 CapVest acquires SaaS ERP Kerridge Commercial Systems.

Private equity firm CapVest has acquired SaaS ERP Kerridge Commercial Systems from Accel-KKR in $1 billion deal.

Transaction Type: Acquisition

Investors: Capvest

Co-founders: –

Country: United Kingdom (UK)

🛒 Amavi Captial acquires SF Ventures.

Proptech investor Amavi Capital has acquired venture capital firm SF Ventures.

Transaction Type: Acquisition

Investors: Amavi Capital

Co-founders: Andreas Nordgren, Richard Lindqvist

Country: Sweden

🛒 Propylon acquired by RWS Group.

Intellectual property support services provider RWS Group has acquired computer software company Propylon.

Transaction Type: Acquisition

Investors: RWS Group

Co-founders: Paul McKeon, Sean McGrath

Country: Ireland

🛒 GridBeyond acquires Veritone.

Smart energy company GridBeyond has acquired US-based software company Veritone Inc Energy Business.

Transaction Type: Acquisition

Investors: GridBeyond

Co-founders: Chad Steelberg, Ryan Steelberg

Country: United States (UK)

🛒 Sidero acquired by GlobalLogic.

Product development services company GlobalLogic has acquired software services company Sidero.

Transaction Type: Acquisition

Investors: GlobalLogic

Co-founders: Santanu Mazumdar

Country: Ireland

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