VC & Startup Weekly News 2-8 December, 2023

Notable Funding Rounds across the EU:

• Kleep, a Paris-based generative AI startup, has raised €1.8M to tackle the issue of size-related returns in online retail. Their AI-powered product discovery platform aims to reduce returns by up to 50%.
• RYVER.AI, a Munich-based startup, secured €1.3M in Pre-Seed funding for its generative AI technology, which addresses bias in radiology diagnostics.The funding, led by Nina Capital and supported by BayernKapital and Fund F.
• DiaMonTech, a Berlin-based health tech company, has completed a major financing round led by Moll Family GmbH
• Harriet, an HR-focused AI startup, has secured £1.2M in Pre-Seed funding led by Concept Ventures with support from Frontline Ventures, Portfolio Ventures, and Notion Capital.

New Venture Funds:

• Partech, a global technology investment firm based in France, has completed the first closing of its €300M Growth Impact Fund. The fund is focusing on fundamental climate and social challenges. It will target B2B companies with at least €10M in revenues, aiming to support their growth journey and fill a gap in the funding landscape between early-stage and large buy-out funds.
• Berlin based Revaia, formerly known as Gaia Capital Partners, celebrates its 5th anniversary with the first closing of its second growth fund, Revaia Growth II, at €150M. Revaia has become the largest fund in Europe created by women, focusing on sustainable tech companies in Europe. With its first fund, Revaia invested over €250M in 12 companies, including Hublo and Deepki.
• Collateral Good, a climate-first Venture Capital platform based in Zürich, has launched a new sustainable fashion fund with a target size of €100M, backed by global fashion company HUGO BOSS. This fund is dedicated to driving innovation and technology that will accelerate the sustainable transformation of the textile and fashion industry.
• Amsterdam based Rockstart, a global early-stage accelerator-VC, has launched its second AgriFood fund, targeting a final close at €50M. This fund, backed by organizations like The Export and Investment Fund of Denmark (EIFO), De Hoge Dennen, and Danish Agro, aims to invest in up to 50 startups over the next 5 years, focusing on transformative and sustainable solutions in agriculture and food technology.
• Munich-based Vanagon Ventures has launched a new €30M fund dedicated to investing in early-stage startups in the B2B green transformation space. The fund, which reached its first closing within just six months, is focused on supporting startups that are innovating in green technologies and making them profitable.

Startup Funding Rounds & Acquisitions:

• Estonian blockchain platform QANplatform secured $15M from MBK Holding.
• Estonian nanotech UP Catalyst, specializing in sustainable carbon material production from CO2 emissions, has closed a €4M funding led by Extantia and SmartCap VC with participation from Sunly, Little Green Fund, Scottish Baltic Invest, UniTartu Ventures.
• Ukrainian-founded robotics startup Instock Inc has raised $3.2M in a funding round led by Amazon Industrial Innovation. Instock's technology is designed for easy integration into existing logistics facilities.
• Bulgarian SaaS platform TokWise has secured €3M round led by Encavis, with participation from Vitosha Venture Partners. TokWise enables renewable energy entities to actively participate in the market and supports accurate decision-making.
• Prague-based AI startup Born Digital has raised €2M from Seed Starter of Česká spořitelna, Erste Group, and J&T Ventures. The company offers an AI omni-channel platform that enhances customer experiences in contact centers.
• Polish AI startup MIM Fertility, specializing in infertility treatment, raised $2M in a seed funding round from Tangent Line and Peleton.
• Ukrainian-founded gaming startup GameTree secured $1.7M from Corazon Capital, Full Stack Ventures, Goodwater Capital, 32-Bit Ventures, Expert Dojo, and a grant from Overwolf.
• Warsaw-based adtech startup Influence That Matters has raised €925k from Arkley Brinc VC. The company's platform, ITM, streamlines digital influence marketing by automating billing and standardizing campaign planning.
• Polish biotech firm Medical Inventi has received a €223k grant from European Funds to support the development of its innovative biomaterial, FlexiOss.  FlexiOss, a two-phase biomaterial, is designed for regenerating cartilage and bone defects.
• Estonian ordering platform Biteful secured €220k in funding from investors including StartupWiseGuys, Specialist VC.
• Latvian online dating platform Flirtu raised €200k from Expansion Capital to expand into new markets and improve its product.
• Polish tech company Future Mind, specializing in digital transformation, has been acquired by Finnish firm Solita, a player in technology, data, and design. This acquisition marks Solita's entry into the Polish market.
• Tallinn-based R8 Technologies, specializing in AI-based building management, has closed an undisclosed investment round with Panasonic Corporation, Encevo, and Møller Eiendom.
• Verdant Nature, a Polish-American biotechnology company, has received investment from Simpact Ventures.  Verdant Nature is addressing issues such as low bioavailability and misinformation in the nutritional supplement market.
• Poland's Euvic Group has acquired 7Devs, a Ukrainian software development company, as part of its expansion strategy in Ukraine.

Startup Calls:

• Applications for the Hello CleanTech 2.0 Startup Challenge close on December 15, 2023. Don't miss this opportunity to connect with top industry leaders, gain expert support, and accelerate your investment opportunities with partners like EIT InnoEnergy, ORLEN VC, Boryszew, Sabanci, BNP Paribas, ING, Neste, Holcim Maqer Ventures, Łukasiewicz - PORT, Commercialization Reactor, and many more. The program is designed for startups, innovators, and researchers in areas such as energy storage, green hydrogen, carbon tech, battery recycling, smart grid, and more.
• Join the Huawei Startup Challenge and play your part in the #Tech4GreenEnergy movement. This 4th edition focuses on early stage startups on  innovative green energy solutions. Submit your application till January 14, 2024 for a chance to win prizes worth PLN 200k and gain recognition from industry experts.

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