We have already presented interesting CEE startups that closed funding rounds in August. Today, we are going to dive further into the European startup ecosystem and discover more funding rounds that took place in August, the second month of Q3 2022. This time, the directions that attracted investors' interest were SaaS, Gaming, AI and Sustainability.
Now, let’s check out the TOP 20 August startup funding rounds in Europe!
Celonis
Location: Munich, Germany
Launch date: 2011
Funding Round: Series D €400M
Funding Source: 83North, Accel, Activant Capital, Alta Park Capital, Arena Holdings, Common Fund, Durable Capital Partners, Franklin Templeton, Neuberger Berman Group, Qatar Investment Authority, Sator Grove Holdings, T. Rowe Price, TCV
Total funding received: €2.3B
Celonis, founded in 2011, is a German provider of an execution management system that helps companies run their business processes. The company has recently secured a series D in the amount of €400M from 83North, Accel, Activant Capital, Alta Park Capital, Arena Holdings, Common Fund, Durable Capital Partners, Franklin Templeton, Neuberger Berman Group, Qatar Investment Authority, Sator Grove Holdings, T. Rowe Price, and TCV. The funding itself will be allocated to product innovation and the expansion of its market potential.
H2 Green Steel
Location: Stockholm, Sweden
Launch date: 2020
Funding Round: Series B €190M
Funding Source: Altor, AMF, Cristina Stenbeck, Daniel Ek, FAM AB, GIC, IMAS Foundation, Kingspan, Marcegaglia, Schaeffler Group, Swedbank Robur, Vargas Holdings
Total funding received: €295M
Stockholm-based H2 Green Steel, founded in 2020, is a green impact company and a producer of green steel, that uses less carbon dioxide emissions compared to traditional steelmaking. The startup has recently secured a series B round of €190M from Altor, AMF, Cristina Stenbeck, Daniel Ek, FAM AB, GIC, IMAS Foundation, Kingspan, Marcegaglia, Schaeffler Group, Swedbank Robur, and Vargas Holdings. The funding will be allocated to building its “green” factory.
Cera
Location: London, UK
Launch date: 2016
Funding Round: Venture Round €310M
Funding Source: 8090 Partners, Guinness Ventures, Jane Street Capital, Kairos, Oltre Impact, Schroders Capital, Squarepoint Capital, Vanderbilt University Office of Investments, Yabeo Capital
Total funding received: €400M
UK-based Cera, founded in 2016, is a digital-first, home healthcare company freeing up hospital beds and empowering elderly and vulnerable patients to access better and more affordable care. Cera has recently been supported by 8090 Partners, Guinness Ventures, Jane Street Capital, Kairos, Oltre Impact, Schroders Capital, Squarepoint Capital, Vanderbilt University Office of Investments, and Yabeo Capital. The funds, which were secured during the venture round of €310M will be used to extend the number of provided healthcare services.
eSmart System
Location: Halden, Norway
Launch date: 2012
Funding Round: Series B €40M
Funding Source: Arosa Capital Management, Energy Impact Partners, Equinor Technology Ventures, Future Energy Ventures, Kongsberg Gruppen, Nysno
Total funding received: €98M
eSmart Systems is a Norwegian provider of AI-driven software solutions to the energy industry (e.g. inspection management, asset information management). The company secured a series B round of €40M from Arosa Capital Management, Energy Impact Partners, Equinor Technology Ventures, Future Energy Ventures, Kongsberg Gruppen, and Nysno, with plans to use the funds to accelerate virtual infrastructure inspections.
Xterio
Location: Zug, Switzerland
Launch date: 2022
Funding Round: Series A €40M
Funding Source: Animoca Brands, Foresight Ventures, Forte, FTX Ventures, FunPlus, Hashkey, Infinity Ventures Crypto, Makers Fund, Matrix Partners, XPLA
Total funding received: €40M
Xterio is a Switzerland-based game publisher and developer on a mission to develop, publish and distribute high-quality mobile and Web3 games. With the recently secured funding of €40M from nimoca Brands, Foresight Ventures, Forte, FTX Ventures, FunPlus, Hashkey, Infinity Ventures Crypto, Makers Fund, Matrix Partners, and XPLA, the startup will continue its game development activities.
Blue World Technologies
Location: Aalborg, Denmark
Launch date: 2017
Funding Round: Series B €37M
Funding Source: Breakthrough Energy Ventures, DEUTZ AG, Vaekstfonden
Total funding received: €61M
Blue World Technologies is a Denmark-based developer and manufacturer of methanol fuel cells as an alternative to non-renewable fuels. The company has been recently supported by Bill Gates founded Breakthrough Energy Ventures, and DEUTZ AG, Vaekstfonden. Secured funds during the series B round of €37M will support the startup's plans to scale its fuel cell production.
Mavenoid
Location: Stockholm, Sweden
Launch date: 2019
Funding Round: Series B €30M
Funding Source: ABB Technology Ventures, Creandum, Mosaic Ventures, NordicNinja VC, Point Nine, Silicon Valley Bank UK, Smedvig Capital
Total funding received: €39M
Swedish Mavenoid is a customer support chat platform, that allows companies using its services, to provide high-quality support and resolve customers’ product issues in the quickest and most effective way. Recently secured funds in the series B round of €30M from ABB Technology Ventures, Creandum, Mosaic Ventures, NordicNinja VC, Point Nine, Silicon Valley Bank UK, and Smedvig Capital will be used to further develop AI and technology and scale the business globally.
Astrivax
Location: Leuven, Belgium
Launch date: 2022
Funding Round: Seed €30M
Funding Source: Ackermans & van Haaren, BNP Paribas Fortis, Flanders Future Techfund, Fund+, Gemma Frisius Fund, Merieux Equity Partners, Thuja Capital, V-Bio Ventures
Total funding received: €30M
Belgian Astrivax, founded in 2022, is a spin-off that develops vaccines. The startup has recently secured a seed round in the amount of €30M from Ackermans & van Haaren, BNP Paribas Fortis, Flanders Future Techfund, Fund+, Gemma Frisius Fund, Merieux Equity Partners, Thuja Capital, and V-Bio Ventures. Raised funds will be used to bring their first thermostable yellow fever vaccine to the clinical development stage and to further develop their pipeline vaccine candidates.
Wire
Location: Zug, Switzerland
Launch date: 2012
Funding Round: Series C €24M
Funding Source: Cipio Partners, Iconical, UVC Partners
Total funding received: €60M
Switzerland-based Wire, founded in 2012, is an encrypted messaging and collaboration startup that allows customers to collaborate securely using end-to-end encryption for messaging, audio/video conferencing, file-sharing, and external collaboration. Wire has recently secured a €24M series C round from Cipio Partners, Iconical, and UVC Partners. The raised funding will be allocated to the further development of the platform. .
Patchwork
Location: London, UK
Launch date: 2016
Funding Round: Series B €24M
Funding Source: KHP Ventures, Perwyn, Praetura Ventures
Total funding received: €34M
UK-based Patchwork, founded in 2016, is a digital healthtech startup aiming to tackle healthcare staff problems by helping to recruit, manage and dispatch both temporary and permanent healthcare workers. The company has recently closed a round of €24M from KHP Ventures, Perwyn, and Praetura Ventures, and secured funds will be used to further scale the business.
FundamentalVR
Location: London, UK
Launch date: 2012
Funding Round: Series B €20M
Funding Source: Downing Ventures, EQT, Tern
Total funding received: €29M
FundamentalVR, founded in 2012, is an MA-based medical simulation platform that combines virtual reality and haptics through data & artificial intelligence to create a safe, measurable, and repeatable space to refine skills. The recently secured series B round of €20M from Downing Ventures, EQT, and Tern will go towards further development of HapticVR solution.
Ben
Location: London, UK
Launch date: 2019
Funding Round: Series A €16M
Funding Source: Atomico, Cherry Ventures, DN Capital, Seedcamp
Total funding received: €18.5M
London-based Ben, founded in 2019, is employee benefits and rewards platform built to enable SMEs to offer much more personalized and flexible benefits to employees. The startup has recently secured a series A round of €16M from Atomico, Cherry Ventures, DN Capital, and Seedcamp which will be invested in platform development.
topi
Location: Berlin, Germany
Launch date: 2021
Funding Round: Venture round €15M (+ €30M in debt from TriplePoint Capital)
Funding Source: Creandum, Index Ventures
Total funding received: €49M
German topi, founded in 2021, is a hardware-as-a-service platform allowing retailers and manufacturers to rent out their equipment. The company has recently been supported by Creandum, and Index Ventures (in the equity part). The funds, secured during the venture round of €15M, will be allocated to platform development.
Unstoppable Finance
Location: Berlin, Germany
Launch date: 2021
Funding Round: Series A €12.5M
Funding Source: Anagram, BACKED VC, Discovery Ventures, Fabric Ventures, Inflection, Lightspeed Venture Partners, Rockaway Blockchain Fund, Speedinvest
Total funding received: €18M
Berlin-based Unstoppable Finance, founded in 2021 is a crypto startup building a next-gen crypto wallet to bring DeFi to retail investors globally. The startup secured a series A round of €12.5M from Anagram, BACKED VC, Discovery Ventures, Fabric Ventures, Inflection, Lightspeed Venture Partners, Rockaway Blockchain Fund, and Speedinvest. The raised funding will support launching a non-custodial crypto wallet.
Luminovo
Location: Munich, Germany
Launch date: 2020
Funding Round: Seed €11M
Funding Source: Chalfen Ventures, Cherry Ventures, Khadjavi Capital Partners, La Famiglia, Tencent, Verve Ventures
Total funding received: €13M
German Luminovo, founded in 2020, is a software as a service company helping electronics leaders bring vital innovations to market faster and cheaper through its AI-powered software suite. Recently secured funding of €11M during the seed round from Chalfen Ventures, Cherry Ventures, Khadjavi Capital Partners, La Famiglia, Tencent, and Verve Ventures will be allocated to accelerate product development and grow its product engineering and revenue teams.
Junto
Location: Berlin, Germany
Launch date: 2022
Funding Round: Seed €5M
Funding Source: Earlybird Venture Capital, Emerge Capital, Picus Capital
Total funding received: €6.2M
German Junto, founded in 2022, is an EdTech company that offers a platform where companies can provide digital live training courses to their employees. In opposition to Udemy, Junto learners study in cohorts as this encourages more people to complete the courses. The startup has recently got support from Earlybird Venture Capital, Emerge Capital, and Picus Capital, and funds secured during the seed round of €5M are to fuel the development of its B2B upskilling platform.
Auddy
Location: London, UK
Launch date: 2020
Funding Round: Seed €2.8M
Funding Source: Brick Capital Ventures, Haatch, Pembroke VCT, The Future Fund
Total funding received: €9.9M
London-based Auddy, founded in 2020, is a podcast platform provider that delivers end-to-end premium audio publishing solutions for both creators and organizations. Secured funds of €2.8M from Brick Capital Ventures, Haatch, Pembroke VCT, and The Future Fund will be used to expand its business reach and content offering.
Worldfavor
Location: Stockholm, Sweden
Launch date: 2016
Funding Round: Series A €10.2M
Funding Source: Brightly Ventures, SEB Private Equity, Spintop Ventures
Total funding received: €14M
UK-based Worldfavor, founded in 2016, is a sustainability management and reporting platform, that enables companies to understand their impact and make more sustainable actions. The company has recently secured a series A round in the amount of €10.2M from ABrightly Ventures, SEB Private Equity, and Spintop Ventures, and the funds will support its further growth.
Flyway
Location: London, UK
Launch date: 2021
Funding Round: Seed €10M
Funding Source: Group RMC, Monday Capital, Signal Ventures
Total funding received: €10M
London-based Flyway, founded in 2021, is a prop-tech startup offering fully managed second home co-ownership. The company has recently secured a €10M seed round from Group RMC, Monday Capital, and Signal Ventures, while secured funding is allocated to acquiring and selling its first properties in London.
Gunzilla Games
Location: Frankfurt, Germany
Launch date: 2020
Funding Round: Venture round €44.9M
Funding Source: AlphaCrypto Capital, Animoca Brands, Blizzard Fund, CoinFund, Digital Strategies, Dominance Ventures, Gamegroove Capital, Griffin Gaming Partners, GSR Ventures, Huobi Capital, Jump Crypto, KuCoin Labs, Morningstar Ventures, NGG, Raptor Group, Republic capital, Shima Capital, Spartan
Total funding received: €70M
Frankfurt-based Gunzilla Games, founded in 2020, is a gaming studio working on AAA games. The company has recently closed a funding round of €44.9M from AlphaCrypto Capital, Animoca Brands, Blizzard Fund, CoinFund, Digital Strategies, Dominance Ventures, Gamegroove Capital, Griffin Gaming Partners, GSR Ventures, Huobi Capital, Jump Crypto, KuCoin Labs, Morningstar Ventures, NGG, Raptor Group, Republic capital, Shima Capital, and Spartan. Secured funds will be used to build their new platform, GunZ, enabling players to own their in-game possessions.
Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase
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TOP European Funding Rounds Closed In June 2022 (Konrad Koncerewicz, Head of VC & Startups, Vestbee)
TOP European Funding Rounds Closed In May 2022 (Konrad Koncerewicz, Head of VC & Startups, Vestbee)
