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top european funding rounds by vestbee.com
13 March 2024·13 min read

Lisa Palchynska

Editor-in-Chief, Vestbee

Top European Funding Rounds Closed In February 2024

Every month, Vestbee compiles a list of the most significant financial rounds closed in Central and Eastern Europe and the broader European region. Recently, we published a selection of 12 startups from CEE that secured funding in February, providing details on each deal. Now, let's take a look at the top 40 European startup funding rounds completed in February.

Enviria

€185M in a Series B round
Location: Germany
Founded in: 2017
Total funding received: €207.5M
Recent funding sources: BlackRock

Enviria, a Frankfurt-based solar startup, has secured €185 million in a Series B funding round from BlackRock to support the growth of its commercial and industrial solar initiatives. Specializing in photovoltaic energy solutions, Enviria is dedicated to energizing Germany's commercial and industrial sector. 

MMI

over €100M in a Series C round
Location: Italy
Founded: 2015
Total funding received: more than €191M
Recent funding sources: Andera Partners, BioStar Capital, Deerfield, Fidelity, Fountain Healthcare Partners, Panakes Partners, RA Capital Management, Samba Tech, Wellington Partners

MMI (Medical Microinstruments, Inc.) is a robotics company dedicated to increasing treatment options and improving clinical outcomes for patients with complex conditions. Its current Series C round marks the largest investment in microsurgery innovation. The funding will allow the startups to further develop technology behind its Symani Surgical System. 

Planity

€45M in a Series C round
Location: France
Founded: 2016
Total funding received: over €94M
Recent funding sources: Bpifrance Digital Venture, Credit Mutuel Innovation, InfraVia Capital Partners, Revaia

Paris-based SaaS platform Planity, specializing in booking services for the beauty industry, has officially secured $50 million in a Series C funding round. The new capital will fuel a recruitment drive that will see the company nearly double its staff and progress with pan-European expansion plans.

Pennylane

€40M in a Series C round
Location: France
Founded: 2020
Total funding received: €138.5M
Recent funding sources: DST Global, Sequoia Capital

Paris-based Pennylane develops a financial management and accounting platform designed for startups/SMEs. It has secured €40M in a Series C round of funding and gained the status of unicorn. The new funds will help Pennylane improve its account-tech platform, especially by integrating artificial intelligence

Bob W

€40M in a Series B round
Location: Finland
Founded: 2019
Total funding received: €71M
Recent funding sources: Evli Growth Partners, Flashpoint, Mikko Kodisoja, Taavet+Sten

Bob W is a Helsinki-based tech-enabled hospitality operator. It currently manages 36 aparthotels in 17 European cities, with a total portfolio that includes over 3,000 apartments. With the recent €40 million Series B funding, the company plans to sustain its pan-European expansion.

RobCo

over €39M in a Series B round
Location: Germany
Founded: 2020
Total funding received: €55.2M
Recent funding sources: Kindred Capital, Lightspeed Venture Partners, Promus Ventures, Sequoia Capital

Munich-based RobCo, a provider of affordable and connected robotics automation solutions for small and medium-sized enterprises, has secured a €39 million Series B investment. The company will use the funds to grow its distribution channels and improve product development, supporting its overall expansion strategy.

Cambridge Mechatronics

€37M round
Location: the UK
Founded: 1995
Total funding received: €89.7M
Recent funding sources: Atlantic Bridge, Intel Capital, Sony Innovation Fund, Supernova Invest

Cambridge Mechatronics specializes in the design and control of Shape Memory Alloy (SMA) actuators. The company has incorporated its SMA technology into 70 million products, including leading smartphone cameras. With the fresh €37 million of venture capital, Cambridge Mechatronics aims to extend its reach into healthcare, interactive entertainment, and other areas beyond smartphone imaging.

Bioptimus

€32M in a seed round
Location: France
Founded: 2024
Total funding received: €32M
Recent funding sources: Bpifrance, Cathay Innovation, Frst, Headline, Hummingbird Ventures, NJF Capital, Owkin, Sofinnova Partners, Top Harvest Capital, Xavier Niel

French AI startup Bioptimus, which intends to build a large language model (LLM) for biotechnology, has raised a €32 million seed round just a few months after it was created. The round was led by French life sciences VC Sofinnova Partners and public bank Bpifrance Large Ventures. 

Aktiia

€28M in a Series A 
Location: Switzerland
Founded: 2018
Total funding received: €53.4
Recent funding sources: 415 CAPITAL, Khosla Ventures, Molten Ventures, Redalpine, Translink Capital, Verve Ventures

Aktiia is a healthtech company that provides optical blood pressure monitoring devices. 

The fresh €28 million investment will boost Aktiia's mission to address global hypertension by leveraging AI-driven technology. Currently, it is trusted by over 60,000 customers and numerous healthcare organizations.

Lapse

€27.4M in a Series A round
Location: the UK
Founded: 2021
Total funding received: €38.7M
Recent funding sources: DST Global, Google Ventures, Octopus Ventures, Speedinvest, Greylock, Naveen Gavini, Nima Khajehnouri, Praveen Murugesan, Soleio, 

Lapse is a London-based provider of a friends-focused photo-sharing app. The company intends to use the fresh Series A funding to implement feedback-driven product updates and expand its engineering and technical team to accommodate growth.  

Flower Labs

€18.5M in a Series A round
Location: Germany
Founded: 2023
Total funding received: €21.5
Recent funding sources: Betaworks, Y Combinator, Factorial Capital, Felicis, First Spark Ventures, Mozilla Ventures, Pioneer Fund, Clement Delangue, Scott Chacon

Flower Labs, a Hamburg-based startup pioneering in federated and decentralized AI, has closed an €18.5 million Series A funding round. The company plans to use the funds to enhance its open-source framework, simplifying federated AI solutions. 

Filigran

€15M in a Series A round
Location: France
Founded: 2022
Total funding received: €20M
Recent funding sources: Accel, Moonfire Ventures, Motier Ventures

Filigran, a cybertech firm based in Paris, has secured €15 million in a Series A round of funding, which comes just six months after the company raised €5 million in its initial seed round. Filigran plans to utilize the funds for global expansion, aiming to establish offices in the USA and Australia in 2024, and product development.

Heyflow

€14.7M in a Series A round
Location: Germany
Founded: 2020
Total funding received: over €20M
Recent funding sources: Atlantic Labs, Project A Ventures, Singular

Hamburg-based Heyflow develops a no-code platform that empowers marketers to create interactive website experiences. In February, the startup closed €14.7 million Series A round of funding. The funds will help Heyflow in further implementing AI into its solution to automate tasks, set up campaigns, and generate leads.

Orbital Materials

€14.7M in a Series A round
Location: the UK
Founded: 2022
Total funding received: €19M
Recent funding sources: Character, Compound, Fly Ventures, Flying Fish Partners, Incite Ventures, Radical Ventures, Toyota Ventures

Orbital Materials is a London, UK and New Jersey, USA-based company that uses AI to develop advanced materials. The fresh Series A round propels Orbital Material’s research and development efforts into materials that will help industry make the transition to carbon-neutral energy.

Embat

€14.7M in a Series A round
Location: Spain
Founded: 2021
Total funding received: €21.2M
Recent funding sources: 4Founders Capital, Creandum, Klarna, iZettle, Pleo, Samaipata VC, Trade Republic, VentureFriends, Kilian Thalhammer, Hugo Arevalo, Martin Blessing

Embat is a Madrid-based fintech specializing in corporate treasury management. In February, the startup secured €14.7 million in a Series A funding round that will drive continued international expansion plans.

Daze

€14.6M in a Series A round
Location: Italy
Founded: 2017
Total funding received: €24.3M
Recent funding sources: 035 Investimenti, CDP Venture Capital, European Innovation Council, Founders Future, PranaVentures, SIMEST

Italy-based Daze, a provider of EV charging solutions, has raised €14.6 million in a Series A round of funding. With the latest funds, the startup aims to solidify its presence in Spain and France, expand into new European markets, and accelerate the energy transition. 

Navro

€12.8M 
Location: the UK
Founded: 2022 
Total funding received: €34.7M
Recent funding sources: Bain Capital Ventures, Fin Capital, Motive Partners, Unusual Ventures

In February, Navro, London, UK, and Dublin, Ireland-based digital payments company, closed a €12.8M funding led by Bain Capital and Unusual Ventures, and including Motive Partners, with participation from prior investors Fin Capital. The funds will help Navro to increase its reserves and satisfy the capital requirements of tier-one regulators, clients and banks.

Baseimmune

€10.4M in a Series A round
Location: the UK
Founded: 2019
Total funding received: €15.6M
Recent funding sources: Beast Ventures, Creator Fund, Hoxton Ventures, IQ Capital, Maki.vc, Merck Global Health Innovation Fund

London-based Baseimmune, a biotech company using deep learning AI to forecast pathogen mutations for vaccine development, has secured €10.4 million in a Series A round of funding. The funding will help Baseimmune to advance technology, expand the team, increase development programs, and speed up new vaccine initiatives.

Threedy

€9.6M in a Series A round
Location: Germany
Founded: 2020
Total funding received: €11.4
Recent funding sources: EquityPitcher Ventures, Fraunhofer Venture, Futury Capital, High-Tech Grunderfonds, LBBW VC, Matterwave Ventures, TRUMPF Venture

Threedy offers an infrastructure component that allows companies to meet the constantly growing demand for 3D data in responsive and interactive applications. In February, the startup received €9.6 million to accelerate growth across industries and regions.

Lilli

€9.5M in a Series A round
Location: the UK
Founded: 2014
Total funding received: €15.2M
Recent funding sources: West Hill Capital

Woking, UK-based SaaS company Lilli provides lifestyle monitoring technology which supports organizations in the health and social care sector to deliver a proactive care model. The recent €9.5 million Series A round will be utilized for commercial scale-up and enhancing AI capabilities.

Artificial Labs

€9.2M in a Series A round
Location: the UK
Founded: 2013
Total funding received: €25M
Recent funding sources: Augmentum Fintech, Force Over Mass Capital, MS&AD Ventures

London-based insurtech company Artificial Labs secured €9.2 million in Series A funding, led by Augmentum Fintech and joined by existing investors MS&AD Ventures and Force Over Mass Capital. The funds will be allocated towards product development and ongoing expansion efforts.

Device Authority

€8.2M in a Series A round
Location: the UK
Founded: -
Total funding received: €10.9M
Recent funding sources: Mercato Partners, Ten Eleven Ventures

Device Authority develops a KeyScaler-as-a-Service (KSaaS) platform. It offers automated device identity security, enabling end-to-end device and data trust. The fresh Series A investment will fuel product expansion and North American growth. 

Naboo

€7.5M in a seed round
Location: France
Founded: 2021
Total funding received: €9.5M
Recent funding sources: Better Angle, CapHorn Invest, Isai, Kima Ventures, MAIF Avenir

Paris-based Naboo develops a platform, offering bookings for all corporate offsite needs: accommodations, workspaces, catering, activities, transportation. In February, the startup raised €7.5 million for the further developments of its solution.

Sitehop

€5.8M in a seed round
Location: the UK
Founded: 2021
Total funding received: €7M
Recent funding sources: Amadeus Capital Partners, Manta Ray Ventures, Mercia Ventures, Northern Powerhouse Investment Fund, Rick Lazansky, Illia Polosukhin

Sitehop, a Sheffield, UK-based networking encryption solutions provider, raised €5.8 million in a seed funding round. The startup helps businesses handle the escalating threat level from sophisticated cyber criminals, with hardware-enforced enterprise encryption.

Monite

€5.5M in a seed round
Location: Germany
Founded: 2020
Total funding received: €16M
Recent funding sources: Oliver Mihm, Point72 Ventures, Ralph Muller, Third Prime, Tomahawk.VC, Valar Ventures

Aiming at turning B2B platforms, neobanks, and fintechs into super-apps, Monite offers an API, allowing invoicing and supplier management to be embedded into existing payments interfaces. The startup says it has 10 clients in Europe and the US and plans to acquire more clients in the next months.

spektr

€5M in a seed round
Location: Denmark
Founded: 2023
Total funding received: €5M
Recent funding sources: Northzone, PreSeed Ventures, Seedcamp

spektr, a Copenhagen, Denmark-based provider of a platform that automates and streamlines compliance tasks for businesses, raised €5 million in seed funding. The startup plans to further develop its no-code solution that automates risk processes, sets up monitoring, resolves alerts instantly, and integrates easily with vendors.

Mondra

€4.2M in a pre-Series A round
Location: the UK
Founded: 2020
Total funding received: €4.2M
Recent funding sources: 7 Generation Ventures, AlbionVC, Green Circle Foodtech Ventures, PeakBridge, Ponderosa Ventures, Vala Capital

Mondra, a London-based food supply chain decarbonization solution, has raised  €4.2 million in pre-Series A funding. The startup develops a software platform to record, monitor and share environmental data throughout the food supply chain.

GlycanAge

€3.8M in a seed round
Location: the UK
Founded: 2020
Total funding received: €4.3M
Recent funding sources: 7 Generation Ventures, AlbionVC, Green Circle Foodtech Ventures, PeakBridge, Ponderosa Ventures, Vala Capital

London-based biotech startup GlycanAge, specializing in glycan biomarkers, secured €3.8M in seed funding. The round was led by LAUNCHub Ventures and Kadmos Capital. The funds will be utilized to expand operations and support development efforts.

KIT-AR

€3.3M in a seed round
Location: the UK
Founded: 2018
Total funding received: €6.3M
Recent funding sources: 3xP Global, Armilar Venture Partners, BlueCrow Capital, Criteria Venture Tech, SINTEF Venture AS

KIT-AR, a London-based startup that uses AR along with artificial intelligence (AI) to help employees on a production line to spot, track and minimize production errors, has closed a €3.3 million seed round. Its solution can be used within the automotive, aerospace, and electronics manufacturing sectors.

ESProfiler

€3.2M in a seed round
Location: the UK
Founded: 2020
Total funding received: €3.2M
Recent funding sources: Nauta Capital

ESProfiler is a cybersecurity firm providing a platform that quantifies what security investments do against the evolving ways adversaries attack organizations. The company will use the funds to further enhance its commercial growth and product development, and add substantial new capabilities to its platform.

Holdbar

€3.2M in a seed round
Location: Denmark
Founded: 2020
Total funding received: €4.1M
Recent funding sources: Christoph Deckert, Firstminute Capital, Founderment Ventures, Seed Capital, Steve Fredette

Holdbar digitizes tour and experience management with a software suite to create, promote, and sell experiences. In February, the startup raised €3.2 million to further develop the platform into the preferred platform for experience providers globally.

Workfellow

€2.8M in a Series A round
Location: Finland
Founded: 2020
Total funding received: €5.6M
Recent funding sources: Icebreaker.vc, Kedar Dani, Kulpreet Singh, OpenOcean

Workfellow develops a solution that helps the enterprises pinpoint the impact of investment in digital transformation, give visibility on how the workflow impacts teams, providing information for data-driven decision-making. €2.8 million investment will support the startup’s growth by ramping up its product and commercial operation.

Simplyblock

€2.5M in a seed round
Location: Germany
Founded: 2022
Total funding received: over €3M
Recent funding sources: 42CAP, Antler, Begin Capital, Johan Svensson

Simplyblock develops low-latency, high-performance storage software that helps businesses maximize the efficiency of their cloud storage for critical workloads, databases & applications. The proceeds will allow the German startup to expand its engineering team and take the product to general availability later in the year.

Pluto.markets

€2.4M in a seed round
Location: Denmark
Founded: 2021
Total funding received: €4M
Recent funding sources: Magnetic Capital, Nordic Makers, Y Combinator

Copenhagen-based fintech startup, Pluto.markets, secured €2.4 million in funding. The funding round was spearheaded by Magnetic, with contributions from Y Combinator and Nordic Makers. The company plans to utilize the funds to broaden its operations and enhance development efforts.

Zetta Genomics

€2M in a seed round
Location: the UK
Founded: 2018
Total funding received: €7.3M
Recent funding sources: APEX Ventures, Nina Capital, University of Cambridge Enterprise, We Venture Capital

Zetta, a spinout of the University of Cambridge, is commercializing a platform called XetaBase for the storage, management, and interrogation of large-scale genotypic and clinical data for precision medicine applications. In February, it closed a seed round, raising an additional €2 million.

PeopleForce

€1.8M in a seed round
Location: the UK
Founded: 2019
Total funding received: €2.5M
Recent funding sources: Pracuj Ventures

PeopleForce is a Ukrainian-founded all-in-one HR platform designed to streamline HR processes at every stage of the employee life cycle. In February, the startup raised €1.8 million from its existing backer Pracuj Ventures. The funds will help PeopleForce accelerate product development and pursue market penetration in Poland and LATAM. 

Juniper

€1.7M in a pre-seed round
Location: the UK
Founded: 2023
Total funding received: €1.7M
Recent funding sources: 2100 Ventures, Charles Delingpole, Exceptional Ventures, HEARTFELT, Insurtech Gateway, Matt Cooper, Tara Reeves, Vera Baker

Juniper, a London, UK-based reproductive healthcare insurance provider, raised €1.7 million in a pre-seed funding. The company intends to use the funds to triple the team, drive growth, and support its pilot phase leading to its official launch.

Kingdom Technologies

€1.6M
Location: the UK
Founded: 2018
Total funding received: €4.5M
Recent funding sources: Iron Wolf Capital, Specialist VC, Scottish Enterprise

Glasgow-based technology startup Kingdom Technologies has secured  €1.6 million in its latest round of funding. The investment will fuel the expansion of its fleet of robotic lawn mowers for large terrains — the plan is to produce more than 100 units this year.

Sentify

over €1M in a pre-seed round
Location: the UK
Founded: 2023
Total funding received: over €1M
Recent funding sources: 500 Emerging Europe, Episode 1

Sentify's platform offers a user-friendly interface, intuitive and powerful semantic search capabilities, and data categorization. The investment will speed up product development, boost hiring, and enhance customer acquisition, aligning with the company's mission to empower businesses in optimizing their LLM products.

Manglai

€500k in a pre-seed round
Location: Spain
Founded: 2023
Total funding received: €500k
Recent funding sources: All Iron Ventures

Manglai develops an AI-powered solution committed to minimizing carbon footprints. The startup says it is dedicated to empowering businesses globally to foster a more sustainable future for the planet.

Related Posts:

TOP European Funding Rounds Closed In January 2024 (by Katarzyna Skoneczna, Editor, Vestbee)

TOP European Funding Rounds Closed In December 2023 (by Katarzyna Skoneczna, Editor, Vestbee)

TOP European Funding Rounds Closed In November 2023 (by Katarzyna Skoneczna, Editor, Vestbee)



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