Funding

Funding Wrap of the Week | European Startups Funding Roundup | May 12 – May 17

May 18, 2024 | By Startup Rise EU

European Startups raised capital in order to expand and move into more successful. Here is this week's Top 10 European Startups Funding Roundup.

European Startups raised capital in order to expand and move into more successful. Here is this week's Top 10 European Startups Funding Roundup.

SUMMARY

  • Funding Wrap of the Week | European Startups Funding Roundup | May 12 – May 17
  • Accel, Norrsken, PolyAI, cylib, Pitchdrive, Enspired, Codesphere, Harbor Lab, Infinite Orbits, Caeli Wind, are the Top 10 European Startups Funding Roundup in This Week.

The Top 10 European Startups Funding Roundup of This Week

Accel

Accel, a first partner to outstanding teams worldwide, said that it has raised an early-stage fund of €602.7 million to assist driven entrepreneurs creating internationally recognised brands in Israel and Europe.

Accel is a multinational venture capital firm that supports outstanding teams worldwide from their founding through every stage of the development of a private company. 

Norrsken

Stockholm-based venture capital firm Norrsken a pioneer in impact investing in Europe, secures oversubscribed second fund at €320 million to help entrepreneurs solving the biggest challenges facing humanity.

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Norrsken VC, the non-profit Norrsken Foundation's venture capital arm, Norrsken VC, was founded in 2017 by four aspiring impact investors. Their goal is to increase funding available to entrepreneurs creating profitable ventures.

PolyAI

PolyAI, a provider of enterprise voice assistants, secures $50million in series C round funding. Backers Included Hedosophia, Nvidia’s NVentures, Zendesk, Khosla Ventures, Georgian, Point72 Ventures, Sands Capital and Passion Capital.

PolyAI creates conversational assistants for businesses that engage in natural dialogue with clients to address their issues. No matter what or how their conversational assistants hear their clients speak, they are able to comprehend them.

cylib

Aachen-based Sustainable end-to-end battery recycling firm cylib today Secures €55 million in series A round funding. The round, which is the largest round ever raised by a European battery recycling company, was completed less than 24 months after the company started operations.

cylib is a research-based German company for holistic battery recycling. cylib enables the green energy transition by ensuring the supply of green battery materials for the battery industry and a true circular economy. cylib’s proprietary end-to-end recycling technology was developed over several years of research at the renowned RWTH Aachen University.

Pitchdrive

Pitchdrive, a venture capital business located in Antwerp, has secured a €40 million third fund. Due to the tremendous interest from LPs, they were forced to accept only family offices and entrepreneurs and overstretched their original fund size by +30%.

Pitchdrive is a Belgian-based entrepreneur-led early-stage investor, investing in startups all over Europe and providing highly personalized and active support to their portfolio.

Enspired

Enspired, a company that provides trading-as-a-service on the short-term energy markets, has raised €25.5 million in capital during its series B round to expedite the energy transition by optimising power assets. Zouk Capital led the round, with participation from Banpu NEXT, Emerald Technology Ventures, Helen Ventures, PUSH VC, Vopak Ventures and Presidio Ventures, 360 Capital, and EnBW New Ventures.

Enspired, With their AI-powered trading services, they empower their clients to introduce flexible assets to the European power spot markets and realise their full value, therefore spearheading the energy shift. 

Codesphere

Codesphere, which enables developers to program and scale complex applications directly in the cloud, has secures €16.5 million in funding. The investment round was headed by Pan-European VC Creandum, with participation from current investors LEA Partners, Begin Capital, 42CAP, and 468.

Codesphere shortens time-to-market and lowers costs by turning deployment into a developer-centric self-service experience. By empowering developers to handle their own infrastructure needs from start to finish, it breaks down the wall. 

Harbor Lab

Harbor Lab, a maritime software company modernising the outdated accounting practices hampering the $14 trillion shipping industry, secures €14.7 million in series A round funding round led by European VC Atomico.

An independent marine technology business called Harbour Lab provides a reliable, end-to-end platform for disbursements analysis.

Infinite Orbits

French - based New Space In-Orbit Services company, Infinite Orbits, decures €12 million in funding led by Newfund Capital along with the EIC Fund, IRDI Capital Investissement and Space Founders France (a CNES’s venture arm). The closing of this round demonstrates confidence in Infinite Orbits’ vision and marks an important confirmation of the Company’s roadmap.

Headquartered in Toulouse (France), Infinite Orbits specializes in developing and operating GEO In-Orbit servicers catered to satellite operators globally. 

Caeli Wind

Caeli Wind, a platform for analysing and marketing wind energy locations founded by Ben Schlemmermeier and Heiko Bartels in 2022, secures €11 million in series A round funding in growth capital from international investors.

Caeli Wind is a sophisticated cloud-based technology that facilitates fast marketing and finds wind-potential places. Our overall objective is to dramatically increase the probability that project development will be accomplished, which is why we employ exact analyses.

In various European Startups Funding Roundup, these startups raised funding from venture capitalists and angel investors, and secured place in the Top 10 European Startups Funding Deals of this Week.

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Accel, Norrsken, PolyAI, cylib, Pitchdrive, Enspired, Codesphere, Harbor Lab, Infinite Orbits, Caeli Wind, are the Top 10 European Startups Funding Roundup in This Week.

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