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weekly news by
20 November 2023·6 min read

Sofia Drobychevskaya

VC & Startup Weekly News, 11-17 November, 2023

Notable Funding Rounds across the EU:

  • French startup Le Fourgon, tackling single-use plastic, has secured €10M in a Series A round  led by Id4, Teampact, and La Poste Ventures fund.
  • UK based AI startup Artisan has raised $2.3M to develop human-like digital workers capable of performing thousands of tasks with minimal human input. Artisan will join Y Combinator's Winter 2024 batch.
  • UK-based Magic ID, focusing on connecting businesses and individuals seeking mutual trust, has raised a €350k Pre-Seed round from SFC Capital and Presto Ventures.

New Venture Funds:

  • K Fund has launched K3, a new €80M fund focused on supporting startups in Southern Europe. The fund aims to lead innovation in Spain and Europe, with a particular focus on new technologies around data, AI, and technological platforms.
  • Underline Ventures, based in Bucharest, has closed its first fund at $20M. Focused on early-stage startups in Eastern Europe, the fund has already invested in 7 companies across Romania, Croatia, Serbia, and the Eastern European diaspora. Underline Ventures aims to support startups in various sectors, including AI, cybersecurity, and climate tech, with an average investment of $500k.

Startup Funding Rounds & Acquisitions:

  • Estonian startup Sisu Group has secured €14M led by Level Up Entertainment. Sisu Group aims to integrate consumer-facing products with a technology platform for various brands and other gambling operators.
  • Aether Biomedical, a startup based in Poland, specializes in creating advanced bionic prosthetics, has raised $5.8M in Series A funding led by J2 Ventures and Story Ventures, and participation from Chiratae Ventures.
  • Efenco, an Estonian cleantech startup, has secured €4.5M led by EstBAN Syndicate and including grants from the EIC and Estonia’s Archimedes Foundation. Efenco is developing Cold-Plasma-Assisted Carbon Neutral Combustion technology for industrial heat production.
  • Haut.AI, an Estonian generative AI startup specializing in beauty and skincare tools, has raised €2M in seed funding led by LongeVC and the VC arm of Grupo Boticário shareholders.
  • Estonian AI Fyma has secured a $2.1M investment led by Quandri Ventures, with Second Century Ventures participation. Fyma is focusing on providing solutions for analyzing video feeds in real-time.
  • Sofia-based Icanpreneur has closed €830k led by Sofia Angels Ventures (SAV) and joined by MFG Invest. Entrepreneur has developed an Accelerator-as-a-Software to assist technology entrepreneurs and teams in achieving product-market fit.
  • Holi, a Warsaw-based digital metabolic healtech, raised €680k led by YZR Capital and HEARTFELT_. Holi offers a holistic approach to treating obesity, combining diet, medicine, lifestyle changes, and advanced pharmacological treatments.
  • Lithuanian wellness tech startup Walk15 raised €500k in a new funding round, reaching a valuation of €15M. Walk15 is organizing health-oriented activities like step challenges.
  • Croatian startup Spectre XR, revolutionizing Extended Reality (XR) interaction, has secured a €350k investment from ZAKA VC.
  • Bulgarian foodtech company Ancestral Superfoods, specializes in developing health-enhancing "live and functional" foods,  has received a €200k from New Vision 3 (NV3)
  • Ukrainian AI startup Swarmer, focused on simplifying drone operations with AI, has received funding from D3 VC fund and accelerator. The investment amount is undisclosed.
  • Estonian biotech ÄIO has recieved €30k Tech Validation award at the EIT Food Accelerator Network event. The firm focuses on creating sustainable alternatives to environmentally depleting oils, utilizing agricultural and wood industry side-streams.

Startup Calls:

  • EIT Manufacturing's Accelerate Call 2023 is open for startups in the manufacturing sector. This program supports and finances startups and scale-ups with innovative solutions that address challenges in manufacturing, aiming to enhance efficiency, resilience, and global competitiveness. Eligible applicants should be at TRL 6 or higher, based in the EU or a Horizon Europe "Third Country," with a team of at least two members, and preferably in an ongoing funding round. The program focuses on four key areas and offers up to €500k per company. Applications are open until December 1, 2023.
  • The EIT Community New European Bauhaus (NEB) Catalyse programme invites startups and scale-ups to apply for its 2024 accelerator cohort. Focused on implementing NEB values across Europe, this initiative supports ventures in sustainability, aesthetics, and inclusion, particularly from the culture and creative sectors. Eligible entities must be registered in a Horizon Europe associated country, incorporated after January 1, 2019, and meet specific revenue or investment criteria. The program offers workshops, mentoring, and networking, along with a €20k grant for each selected company. Applications are particularly encouraged from past participants of the Grow NEB programme. Applications are open until December 4, 2023.
  • The Hello CleanTech 2.0 program, starting November 1, invites startups, entrepreneurs, innovators, and researchers in the clean technology sector to apply. Organized by EIT InnoEnergy and industry partners, the program aims to connect participants with international corporations for business, technological, and financial support. The first edition saw over 250 applications with 36 companies establishing significant partnerships. The program focuses on various areas like energy storage, green hydrogen, and renewable energy. Participants can gain technological support, investment opportunities, industry cooperation, and VC fund access. Applications are open until December 15.
  • Startups at the idea stage in the Mazowieckie Voivodeship, Poland, have a great opportunity to join the "Start In Park" program. Organized by Płock Industrial and Technological Park and the Entrepreneurial Women Network, this free initiative offers training, support, and networking to help entrepreneurs grow their ideas. The program features a Demo Day competition with cash prizes of PLN 5k, PLN 4k, and PLN 3k for the top three winners. Applications are open until December 31
  • The National Centre for Research and Development (NCBR) in Poland is accepting applications for the third edition of the NCBR-NAP acceleration program in Nevada until December 6, 2023. This program is designed for startups and micro-entrepreneurs aiming to expand in the U.S. market. It includes mentorship, business development training, and an opportunity to pitch to investors. Additionally, if a participant establishes a branch in Nevada within 10 months post-program and registers it locally, NCBR offers a co-financing grant of $10,000.

Related Posts:

VC & Startup Weekly News, 4-10 November, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)

VC & Startup Weekly News, October 28 - November 3, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)

VC & Startup Weekly News, October 21 - 29, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)


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