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weekly news by vestbee.com
25 March 2024·5 min read

Lisa Palchynska

Editor-in-Chief, Vestbee

VC & Startup weekly news from CEE, March 16-22, 2024

Notable funding rounds across the EU:

  • German embedded finance platform Solaris SE announced the signing of its €96 million Series F round led by SBI Group.
  • French carbon accounting startup Greenly has closed a €48 million Series B funding round led by Fidelity International Strategic Ventures, two years after a successful €21 million Series A. 
  • German startup Novocarbo has secured €25 million in growth funding to establish a pan-European infrastructure network of its net-zero solution. The investment made by SWEN Capital Partners (SWEN CP).
  • UK cleantech direct air capture (DAC) company Mission Zero Technologies has raised £21.8 million in Series A funding. 2150 leads the funding, with participation from World Fund, Fortescue, Siemens Financial Services, and Breakthrough Energy Ventures.
  • French Cure51, a techbio company seeking to unlock the biological mechanisms responsible for exceptional survivors among cancer patients, has raised €15 million in a seed funding round led by Sofinnova Partners. 
  • Cemvision, a Swedish company re-inventing cement, announced a €10 million seed round, led by Polar Structure and Backing Minds, and SF-based Zacua Ventures. 
  • Daato, a pioneering ESG management platform from Berlin, announced securing over €5 million in seed funding, led by kopa ventures in partnership with neosfer, and IBB Ventures. 
  • The car fleet platform Necture has secured €7 million Series A funding from Smart Energy Innovationsfonds, Verbund X Ventures, Speedinvest, and smartworks innovation.   
  • Portuguese UpHill, which automates care journeys for hospitals and patients, has closed a €7 million round led by Explorer and the joint Social Impact fund of Redstone and EnjoyVenture.

New venture funds and VCs’ news:

  • Institutional Venture Partners (IVP), a US and UK-based venture capital firm focusing on later-stage companies and growth equity investments, has raised $1.6 billion for its 18th fund. The new fund will continue the firm's general strategy of supporting European tech companies during their Series B and Series C stages.
  • OTB Ventures has closed its second $185 million deeptech fund, the largest to be raised in Central and Eastern Europe. The second fund will be used predominantly for Series A investments, with up to a 10% allocation for seed funding to support the growth of promising ventures at their inception.

CEE startup funding rounds & acquisitions:

  • Bulgarian Dronamics announced the signing of an investment agreement of €10 million with the European Innovation Council and the SMEs Executive Agency (EISMEA) during the EIC Summit in Brussels.  
  • Prague-based fintech startup Flowpay has raised a €2.1 million seed investment round. The round was backed by Techstars, Soulmates Ventures, and DEPO Ventures.
  • Home rental platform Rendin has closed a nearly €2 million round led by Tera Ventures, with participation from Startup Wise Guys.
  • Nordensa, a Cluj-Napoca-based startup that provides a fan-powered platform for football talents, has secured €1.65 million in a seed round. 
  • Smartschool has completed a pre-seed round raising $1.5 million from Inovo.vc, The Explorer Fund, and angel investors.

Partners’ articles:

AWS Cost Optimization: how startups can save up to 40% on Amazon Web Services

Burn rate is one of the biggest challenges facing every startup founder. Every unnecessary cent spent brings your organization one step closer to the end of its runway, and a grueling fundraising round, or even the end of your startup. One way that many startups begin is by opting to use flexible AWS cloud infrastructure. This avoids the huge upfront cost of physical infrastructure, and proper AWS Cost Optimization can help startups maximize this benefit. 

Cloudvisor prepared at articles about common AWS errors that startups make, and how the right techniques, and AWS partners, can help your startup thrive. 

Startups calls & Events:

LTST24 is the event where startups, investors & innovation opinion leaders get together to create an inclusive future of entrepreneurship.

LTST24 Startup Pitch Track invites gender-diverse startups with innovative products or services featuring scalable business models and a positive impact to apply to be among the top 12 startups, who will have the chance to pitch on stage at #LTST2. Startups should be prepared to engage with Venture Capital investors to realize their visions. The application deadline is April 12, 2024.

Discount code for the tickets: LTST20

The MedTech World Roadshow, hosted at the RCKT Office (Lützowstraße 106, Berlin), offers an evening filled with cutting-edge discussions and networking opportunities. Tickets are now available for purchase.

Embarking on a global journey, MedTech World has transformed the landscape of healthcare innovation. From the bustling streets of Dubai to the tech hubs of Berlin, London, Barcelona, Istanbul, and Singapore, this dynamic startup is revolutionizing medtech events. Through meticulously planned Roadshows, MedTech World offers a platform for pioneering startups to engage with industry giants, fostering collaboration and shaping the future of healthcare technology.

Related Posts:

VC & Startup weekly news from CEE, March 9-15, 2024 (by Lisa Palchynska, Vestbee)

VC & Startup weekly news from CEE, March 2-8, 2024 (by Lisa Palchynska, Vestbee)

VC & Startup weekly news from CEE, February 24-March 1, 2024 (by Lisa Palchynska, Vestbee)


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