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startups of the month by vestbee.com
23 November 2023·7 min read

Sofia Drobychevskaya

Startups Of The Month - November 2023

After looking at the diverse set of solutions featured in our October edition, the time has come to present you with a new round of hand-picked startups chosen throughout September!

In this edition, we highlight the most exciting startups from Europe that are worth your attention - Let's discover what they're all about!

.lumen

A Romanian startup, is transforming the lives of the visually impaired with innovative glasses. Currently raising €5M, with half already secured from the European Investment Bank, .lumen has rapidly advanced in developing technology to replace traditional mobility aids for the blind. Their cutting-edge glasses, equipped with self-driving technology, are in clinical trials and nearing market launch. Following a series of successful funding, including €6M raised in recent years, the startup is focused on addressing the mobility challenges of the 40M blind people worldwide. The company, which has expanded from a small team to 50 professionals, has been recognized with the EIC Accelerator funding and the Red Dot:Luminary award. Their partnerships with tech leaders like Nvidia and Dassault Systemes highlight .lumen's commitment to innovation and its potential impact in assistive technology.

V-Art

A Ukrainian female-founded startup, is revolutionizing the IP licensing process for brands, creators, and AI developers. Accelerated by Meta and L’Oréal Group, they help to streamline the licensing process, monetize content, and minimize legal risks. Actively raising $2M with significant prior investments from the NEAR Foundation, Geek Ventures, SID Venture Partners, and Outlier Ventures, V-Art simplifies licensing through automation and Blockchain technology. Their subscription-based tool reduces operational costs and time, offering a user-friendly dashboard for efficient IP monitoring and monetization. V-Art's rapid growth and innovative approach position it as a leading startup reshaping digital content licensing. Last week V-Art won at The Europas Tech Startup Awards in the Web3 category.

Vocal Image

An innovative startup, is transforming communication with its AI Communication Coach and Voice Filters. This technology helps users achieve clear, accent-free speech, addressing global communication challenges. Currently raising €3M, with €1M already committed, Vocal Image has previously secured significant funding, including over €600k in 2022 and €220,000 in 2021 from from Startup Wise Guys and EstBAN. Their AI-powered mobile app analyzes speech, assisting users in enhancing their voice clarity naturally. The company operates on a subscription model, serving both individual and business clients. Vocal Image's next milestone is the introduction of AI Voice Filters, aimed at voice improvement without extensive training. 

Sirinor

Based in Stavanger, Norway, is developing zero-emission electric jet engines to address aviation's greenhouse gas emissions. The company, founded in 2021 and raising 3,000,000 €, has designed efficient electric engines powered by batteries or hydrogen fuel cells. Currently preparing to test their prototype, Sirinor stands out in the long-haul, zero-emission flight sector with no direct competitors. Their business strategy focuses on licensing their technology to engine manufacturers, and they have already secured an LOI with Sea Cheetah. The founding team, with a background in corporate venture capital, is navigating challenges related to clean energy sources and advancing sustainable aviation.

EFM

Engineers For Medicine from Białystok, Poland, is revolutionizing cardiac diagnostics with its innovative technology, Mudisocard. Currently raising €1M with €100k already secured, EFM addresses the prolonged process of diagnosing heart diseases, such as Chronic Heart Failure, which impacts thousands in the EU and causes millions of deaths globally each year. This proprietary device captures multiple physiological signals from the patient's body, analyzed by sophisticated algorithms on a professional web-based platform, The Platform. This method not only accelerates the diagnosis but also offers a less stressful experience for patients, potentially allowing immediate treatment.

Goyaa

Based in Berlin, is revolutionizing legal teams' digitalization with its no-code toolkit. The company, raising 300k€ after securing the same amount in 2023, automates routine legal tasks, enabling firms to adopt efficient digital models. Goyaa's product, designed for non-technical users, offers over 40 widgets for creating client applications, with a focus on GDPR compliance. Targeting the global legal services market, Goyaa aims to streamline legal operations using AI and large language models. Currently, it has three paying customers and 24 demo users, facing challenges from slowed sales cycles due to economic trends. The founders, united at Antler's 2022 cohort, blend domain expertise and technical skills to drive legal tech innovation.

Green Growth

Headquartered in Riga, is transforming agriculture with its data-driven solutions that enable crop farmers to reduce fertilizer usage by up to 30%. Currently on a fundraising drive to secure €1M, the company has already raised €300k from New Nordic Ventures. Green Growth's innovative approach includes proprietary sensors and software tailored for effective data collection and analysis in the agricultural sector. With a presence in 6 countries, the company's technology is known for its user-friendliness and compatibility with various types of farming machinery, setting it apart from competitors. The founding team, which boasts a blend of expertise in technology and agriculture, positions Green Growth well to leverage the increasing demand for sustainable farming practices.

InstaCash

Based in Budapest, specializes in white-label 'Buy Now Pay Later' solutions for banks, payment institutions, retailers, and high-value service providers on a SaaS way. Currently raising 1M EUR, the company has already secured 820k EUR in 2022 from BNL Start and Solus Capital. InstaCash's open banking data-based real-time and fully automated scoring engine is providing a highly configurable, no-code scorecard and credit check within seconds.InstaCash offers a comprehensive BNPL platform, enhancing the loan origination and administration process from credit assessment, and fraud detection to the payment collection and workout. The company's innovative approach as a no-code lending platform addresses the IT capability gaps in banks, the competitive pressure from fintechs, and the need for improved sales conversions in e-commerce. With its user-friendly and efficient BNPL solutions, InstaCash is poised to redefine payment processes in the financial and retail sectors.

Gaiyo

Located in the Amsterdam area, offers a unified app for accessing shared cars, scooters, bikes, and public transport. The company, currently raising 3M EUR, has secured significant funding from Horizon, Sharing Group, and Rabobank in the past two years. Gaiyo simplifies urban travel by allowing users to plan, book, and pay for diverse transportation options through one platform. With a B2B focus on eco-friendly travel and reducing vehicle ownership, Gaiyo stands out with its comprehensive coverage and user-friendly interface. The team, with a strong background from TomTom, is geared towards expanding their eco-conscious mobility solutions across Europe.

TELMA AI

Headquartered in Prague, Czech Republic, is a voice-first conversational AI platform that uses large language models for business communication. Currently raising 2,000,000 €, the company has secured 1M € in previous funding. ELMA AI's solution automates and improves customer and employee interactions with features like business-level LLM control, semantic search and natural language processing.. With a focus on international expansion, the company aims to stand out in the 30 billion dollar Conversational AI market. Their approach combines bespoke solutions and full stack control, appealing to large enterprises and leveraging a partner network. The team, with a background in IBM's Watson AI R&D Lab, is driving TELMA AI towards further growth amidst challenges like competition and rapid AI advancements.

Related Posts:

Startups Of The Month - October 2023 (by Sofia Drobychevskaya, Editor Vestbee)

Startups Of The Month - September 2023 (by Sofia Drobychevskaya, Editor Vestbee)

Startups Of The Month - August 2023 (by Sofia Drobychevskaya, Editor Vestbee)

 

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