Funding Wrap of the Week | European Startups Funding Roundup | May 19 – May 24

The Top 10 European Startups Funding Roundup of This Week

Imec

Imec, a global R&D centre, has secures €2.5 billion in funding to establish a new R&D pilot line for advanced chip technology and systems-on-chip.

Imec, which was established in 1984, rapidly established itself as the premier research centre for advanced CMOS scaling. For years to come, they will persist in influencing the semiconductor industry's roadmap. Additionally, they capitalise on this advanced technological expertise. 

Bicycle Therapeutics

Bicycle Therapeutics, a Cambridge-based medical technology startup, raises $555 million in a private placement for equity funding. By penetrating solid tumours, Bicycle Therapeutics aims to test the application of 'bicycle' molecules in cancer treatment, building on the Nobel-winning research of Sir Gregory Winter.

Bicycle Therapeutics is a biopharmaceutical firm in the clinical stage that is creating a new class of medications called "Bicycles" to treat disorders that are not well treated by current treatments.

DeepL

Cologne-based DeepL , a leading Language AI company, secures €277 million in funding at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world.

DeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses, governments, and other organizations and millions of individuals in 63 global markets trust DeepL’s Language AI platform for human-like translation and better writing.

CIRCTEC

UK-based recycling startup CIRCTEC secures €150 million in funding to construct Europe’s largest end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands.

CIRCTEC is a leading innovator and operator of pyrolysis technology to recycle waste into renewable fuels and circular chemicals, in order to support the energy transition and the move to a circular economy. 

Colendi

London-based fintech startup Colendi secures $65million series B round funding at a valuation of $700 million from a group of investors, including Citigroup's venture capital arm, Citi Ventures.

Bulent Tekmen founded Colendi, a company that provides services like credit scoring, "financial passports," and fraud prevention without keeping track of its customers' personal information.

OneStock

OneStock, a leading provider of Order Management Systems (OMS), secures €66 million in funding from global growth equity investor Summit Partners. This new funding will be utilised to facilitate OneStock's ongoing international expansion, with a particular emphasis on the United States market, and to expedite the company's vision of a retail environment that is both seamless and user-friendly.

In 2015, CEO Romulus Grigoras and CTO Benoit Baccot established OneStock with the objective of assisting retailers and brands in navigating the omnichannel landscape and improving the overall consumer experience.

Grey Wolf Therapeutics

Grey Wolf Therapeutics (“Grey Wolf” or “the company”), a clinical-stage biotechnology company leveraging first-of-its-kind antigen modulation therapies to address the source of immune dysfunction in oncology and autoimmunity, secures $50 million in series B round funding , bringing the total amount of Series B funds raised to $99 million.

The Series B expansion round was led by ICG’s Life Sciences team and included further investment from existing investors Pfizer Ventures, Andera Partners, Canaan, Earlybird Venture Capital, Oxford Science Enterprises and British Patient Capital.

Enifer

Finnish-based mycoprotein company Enifer secures €36 million in funding that enables it to start constructing a unique food-grade mycoprotein factory in Kirkkonummi, Finland.

Enifer, a spin-off company from VTT Technical Research Centre of Finland, was founded by five scientists in 2020 to develop and commercialize the proprietary PEKILO® technology further. 

Zen Educate

Zen Educate, an online marketplace that connects schools with the most qualified substitute instructors and teaching assistants, has secured €34 million in series B round funding. The initiative was spearheaded by Round2 Capital, with the backing of Adjuvo, Brighteye Ventures, FJ Labs, Ascension Ventures, and prominent angel investors, including Simon Rogerson, the founder and CEO of Octopus.

Zen Educate, which was established in 2017 by Slava Kremerman and Oren Cohen, is headquartered in London and has offices throughout the United States and the United Kingdom. Kremerman was previously a member of the leadership team at Nutmeg, and Cohen was responsible for the UK office of Optimizely. 

Resilience

Resilience, a healthtech startup based in Paris that has already been implemented in over 90 hospitals serving over 10,000 patients, has raised $25 million in capital. In addition to creating a mobile app specifically for cancer patients, Remote has created a class IIa medical equipment that is a remote patient monitoring platform.

The goal of Resilience is to improve cancer treatment by providing oncology patients with remote monitoring and support. It offers a global solution to humanise, streamline, and personalise care pathways through synergistic technologies designed for patients and those providing care.

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