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06 November 2023·6 min read

Sofia Drobychevskaya

VC & Startup Weekly News, October 28 - November 3, 2023

Notable Funding Rounds across the EU:

New Venture Funds:

  • Italian Generali Ventures has launched a €250M venture capital with focus on insurtech and fintech sectors,  targeting early-stage startups, and B2B software solutions. The fund also seeks external innovation across areas like mobility, AI, cybersecurity, and healthcare, with a geographic focus on Europe and the United States.
  • Madrid's Twinco Capital has received €50M. Twinco Capital primarily invests in the financial technology (fintech) sector. It has already facilitated over $250 million to suppliers in emerging markets.
  • UK-based 2100 Ventures has launched a €30M fund dedicated to early-stage European startups, especially those focused on fintech, data, SaaS, and climate tech.

Startup Funding Rounds & Acquisitions:

  • Polish Jetson has secured $15M in seed funding to advance the development of its eVTOL (electric vertical takeoff and landing) flying car. Among the investors is, renowned musician and tech entrepreneur.
  • Polish Inuru has raised $10M in investment from private investors from the LED industry and  Aper Ventures, Adamed Technology, ARIA, and business angels. Inuru produces OLED technology for various applications, including illuminated packaging, entertainment, and pharmaceuticals, with a focus on reducing packaging waste.
  • Lithuanian Green Genius has raised €6.9M from Citadele Bank and the EU Innovation Fund to build an energy-as-a-service power plant.
  • Latvian car-sharing platform, OX Drive, secured €2.8M from Industra Bank. OX Drive provides affordable access to Tesla cars in Latvia, with over 35k users.
  • Serbia-Estonian OTA Sync hospitality tech startup, has secured a €1.3M seed round led by Presto Ventures with participation from TS Ventures Fund, DSI Group of Business Angels, Startup Wise Guys, Katapult Accelerator and  California Expert Fund DOJO.
  • Ukrainian NewHomesMate has secured nearly $1M from for its AI-driven platform analyzing the US real estate market. The startup reported a 1086% revenue surge and expects $8.5M in 2023 revenues. 
  • Flowstep, a Tallinn-based company specializing in UX copilot tools for analyzing applications, has secured €755k in pre-seed funding. The round was led by Tera Ventures, with Specialist VC and angel investors also contributing.
  • Polish healthcare startup Teleradius has secured €337k from Tar Heel Capital Pathfinder Teleradius's teleradiology platform streamlines the diagnostic imaging process, providing faster access to imaging test descriptions for doctors.
  • Estonian startup Gridio has secured an investment from the Katapult Climate and Ocean Accelerator for its automated EV charging platform. The Tallinn-based company, operational across Europe, focuses on optimizing EV charging to be cost-effective and eco-friendly.
  • Estonian AI cleantech R8 Technologies has secured an investment from the Panasonic Kurashi Visionary Fund. R8 Technologies is optimizing energy consumption in commercial buildings.

Startup Calls:

  • Vestbee, based in Warsaw, has launched the CEE Startup Challenge, offering startups in CEE access to over 200 VC funds and up to €250k in investment. The challenge covers a wide range of sectors, from SaaS to Healthcare. Winners will receive substantial benefits, including infrastructure credits, an invitation to the CEE VC Summit 2024, AWS credits, Stripe credits, Mixpanel Growth Plan, and media coverage for the top three. Supported by various organizations and venture capital firms, this challenge is a remarkable opportunity for startups to gain recognition, funding, and access to influential investors. Apply before November 17th for your chance to participate.
  • Calling all e-health and digital health innovators! The DESIRE Open Call for funding is now open, accepting applications until November 13, 2023, 5 PM CET. DESIRE seeks solutions addressing health sector challenges across the EU, such as product innovations, business process enhancements for green and digital transitions, and SME internationalization in the health sector. The program offers financial support, with up to €30k  in direct funding and services, covering 50% of project costs.
  • Polish entrepreneurs, from small businesses to large enterprises, have a unique opportunity to receive up to 80% co-financing for various business needs, such as staff salaries, machinery purchases, or international fair participation within the SMART Path grant program.  With 7 modules to choose from, you can tailor support to your specific business requirements, whether you're a startup or an established company. The current call for proposals ends on November 15, 2023
  • Female Founders, a Vienna-based organization, has launched Grow F, a 5-week program aimed at preparing gender-diverse startups, particularly with female founders, for investment. This initiative is currently geared towards SaaS companies with applications open until November 17. Selected startups should have a launched MVP and be gearing up for VC funding. Participants receive online workshops, access to a fundraising toolbox, and an in-person networking event.

Related Posts:

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

VC & Startup Weekly News, October 14 - 20, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)

VC & Startup Weekly News, October 7 - 13, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)


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