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<?xml version="1.0" encoding="UTF-8" ?> <rss version="2.0" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:georss="http://www.georss.org/georss" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" xmlns:media="http://search.yahoo.com/mrss/"> <channel> <title>Tech.eu</title> <link>https://tech.eu</link> <description><![CDATA[The premier source of European technology news, data, research, analysis and in-depth market intelligence.]]></description> <atom:link href="https://tech.eu/feed" rel="self" type="application/rss+xml" /> <language>en</language> <lastBuildDate>Tue, 26 Nov 2024 13:10:00 +0000</lastBuildDate> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <item> <title><![CDATA[Ampeco secures $26 million to accelerate global EV charging networks]]></title> <category><![CDATA[Energy]]></category> <link>https://tech.eu/2024/11/26/ampeco-secures-26-million-to-accelerate-global-ev-charging-networks/</link> <comments>https://tech.eu/2024/11/26/ampeco-secures-26-million-to-accelerate-global-ev-charging-networks/#comments</comments> <description><![CDATA[EV charging startup Ampeco has raised a $26M Series B round led by Revaia, with participation from existing investors Cavalry Ventures, BMW i Ventures, and LAUNCHub Ventures. It has now raised a total...]]></description> <content:encoded><![CDATA[EV charging startup <a href="https://www.ampeco.com/" target="_blank">Ampeco</a> has raised a $26M Series B round led by <a href="https://www.revaia.com/" target="_blank">Revaia</a>, with participation from existing investors Cavalry Ventures, BMW i Ventures, and LAUNCHub Ventures. It has now raised a total of $42M since its founding in 2019. The Series B will power Ampeco’s growth while accelerating product development and expansion into key markets like Western Europe, the Nordics, the UK, North America, and Southeast Asia. Leadership plans to double the team size over the next two years. Orlin Radev, CEO at Ampeco, commented: “This investment is a testament to the hard work of our team and the trust our clients place in us. With this funding, we’re poised to further drive innovation in EV charging management software, helping our clients build and scale robust charging networks that will accelerate the global transition to electric mobility. The positive market feedback has reinforced our vision for 2025 as we prepare to launch new platform capabilities focused on operational excellence and network scalability.” The company now serves over 160 clients across 60 markets and connects more than 120,000 charging stations to its platform. MarketScape recognized Ampeco as a Leader in their 2024 assessment of worldwide EV charging management solutions and it has attracted major EV charging providers across multiple regions such as E.ON Drive, ChargeGuru and INDIGO Group. Partnerships include US-based Free2Move and Nordic pioneers Wattif and Elaway. Revaia is a new investor for this round. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/26/ampeco-secures-26-million-to-accelerate-global-ev-charging-networks/</guid> <dc:creator><![CDATA[Lucy Adams]]></dc:creator> <pubDate>Tue, 26 Nov 2024 13:10:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/26/ampeco-secures-26-million-to-accelerate-global-ev-charging-networks/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/ampeco-761.png" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/ampeco-761_240x135.png" width="240" height="135" /> </item> <item> <title><![CDATA[Monzo appoints two CFOs including one with IPO-experience]]></title> <category><![CDATA[Fintech]]></category> <link>https://tech.eu/2024/11/26/monzo-appoints-two-cfos-including-one-with-ipo-experience/</link> <comments>https://tech.eu/2024/11/26/monzo-appoints-two-cfos-including-one-with-ipo-experience/#comments</comments> <description><![CDATA[Monzo has appointed two new CFOs, including one with experience of listing a challenger bank on a stock market.The UK challenger bank has appointed Tom Oldham, a former finance executive with Brazilia...]]></description> <content:encoded><![CDATA[<a href="https://monzo.com/" target="_blank">Monzo</a> has appointed two new CFOs, including one with experience of listing a challenger bank on a stock market. The UK challenger bank has appointed Tom Oldham, a former finance executive with Brazilian challenger bank Nubank who helped oversee its 2021 IPO in the US, as its new group CFO. Monzo has also appointed Mark Newbery, a Barclays veteran, as its new UK CFO. The UK challenger bank also announced today (Tuesday) that it had topped 11 million customers and highlighted “expansion plans in the US and Europe”. Monzo has long been linked with a possible IPO but its CEO TS Anil has remained tight-lipped on the timing and destination of a possible IPO, save to say Monzo would be a “great public company one day”. Oldham, who will join Monzo in the New Year, was previously chief investment officer at Mombak, a fund manager focused on generating carbon credits. Previously, Oldham was part of Nubank’s leadership team as the global head of FP&A and other areas of finance during Nubank’s IPO. Oldham is replacing James Davies, who recently joined energy firm OVO. Newbery, who joined Monzo in October, was previously CFO for investment banking at Barclays. Newbery’s role is a new one at Monzo. Anil said: <blockquote> “I’m thrilled to welcome Tom and Mark to Monzo as we scale at pace, deliver groundbreaking products and continue to raise the bar on the rest of the industry—and most importantly, on ourselves. “Their appointments are yet another example of us truly bringing together the best of banking and technology in pursuit of our mission to transform the financial lives of millions of people in our home market and beyond.” </blockquote> ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/26/monzo-appoints-two-cfos-including-one-with-ipo-experience/</guid> <dc:creator><![CDATA[John Reynolds]]></dc:creator> <pubDate>Tue, 26 Nov 2024 11:22:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/26/monzo-appoints-two-cfos-including-one-with-ipo-experience/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2023/10/monzo2-58.png" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2023/10/monzo2-58_240x135.png" width="240" height="135" /> </item> <item> <title><![CDATA[Lithium-sulfur battery startup Molyon raises $4.6M]]></title> <category><![CDATA[Artificial Intelligence]]></category> <link>https://tech.eu/2024/11/26/cambridge-uni-spin-out-molyon-raises-46m-from-plural-to-manufacture-next-generation-batteries/</link> <comments>https://tech.eu/2024/11/26/cambridge-uni-spin-out-molyon-raises-46m-from-plural-to-manufacture-next-generation-batteries/#comments</comments> <description><![CDATA[Molyon, a battery startup spun out from the University of Cambridge, has raised $4.6M in its first round co-led by IQ Capital and Plural. The funding will kickstart manufacturing at its pilot facility...]]></description> <content:encoded><![CDATA[<a href="https://www.molyon.com/" target="_blank">Molyon</a>, a battery startup spun out from the University of Cambridge, has raised $4.6M in its first round co-led by IQ Capital and Plural. The funding will kickstart manufacturing at its pilot facility in Cambridge by expanding its core team including battery engineers, material scientists and operations staff. There is a global push to discover higher-performance batteries than lithium, with resilient supply chains, to lay the foundation for an electrified world. Lithium-sulfur batteries have significantly higher energy density than Li-ion and utilise readily available materials, including sulfur, the fifth most abundant element. They have the potential to solve key issues including range anxiety in EVs. However, state-of-the-art Li-S batteries have yet to be commercialised because sulfur from the cathode dissolves into the electrolyte – causing the anode to corrode and the battery to fail after only a few cycles. Following the new funding, Molyon will grow its team and begin manufacturing at its pilot facility. In the short term, this will enable the company to develop batteries for drones and robots, which will benefit from the lighter weight and improved range that Molyon’s batteries will provide. Dr Ismail Sami, co-founder and CEO of Molyon, said: “The promise of lithium-sulfur batteries has been envisaged for decades but until now it has not been possible to realise this potential because of the inherent chemistry challenges of working with sulfur. By utilising MoS2 we have achieved a groundbreaking milestone in battery technology innovation and are on track to bring this new battery chemistry to the market, creating batteries that will end range anxiety. We have an unrivalled founding team, which between us has years of commercial and research experience, along with insightful advisers and world-leading investors. Now we have the right backing to go forward and disrupt the industry for the better.” Carina Namih, Partner at Plural, added: “Molyon’s founders have discovered a breakthrough technology with the potential to transform battery power’s suitability for use in many areas. It will improve range and performance for applications such as drones and robots, as well as for EVs, electric mobility and battery storage. This excellent and focused team has the IP, the deep technical knowledge, the drive and commercial expertise to bring this novel technology to market and build a new battery company that can challenge the legacy suppliers.” ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/26/cambridge-uni-spin-out-molyon-raises-46m-from-plural-to-manufacture-next-generation-batteries/</guid> <dc:creator><![CDATA[Lucy Adams]]></dc:creator> <pubDate>Tue, 26 Nov 2024 10:45:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/26/cambridge-uni-spin-out-molyon-raises-46m-from-plural-to-manufacture-next-generation-batteries/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/img003-64.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/img003-64_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[Solaris says “close to finalising agreement” amid reports of urgent €100M funding round]]></title> <category><![CDATA[Fintech]]></category> <link>https://tech.eu/2024/11/25/solaris-says-close-to-finalising-agreement-amid-reports-of-urgent-eur100m-funding-round/</link> <comments>https://tech.eu/2024/11/25/solaris-says-close-to-finalising-agreement-amid-reports-of-urgent-eur100m-funding-round/#comments</comments> <description><![CDATA[German fintech Solaris says it's “close to finalising an agreement" amid reports that the unicorn is urgently seeking €100m by the start of December or will seek out a buyer should it fail to do so.So...]]></description> <content:encoded><![CDATA[German fintech <a href="https://www.solarisgroup.com/en/" target="_blank">Solaris</a> says it's “close to finalising an agreement" amid reports that the unicorn is urgently seeking €100m by the start of December or will seek out a buyer should it fail to do so. Solaris, which offers white-label banking services and is known as a BaaS (Banking-as-a-Service) provider, is one of Germany’s most high-profile fintechs. However, the troubled fintech recently made swingeing job cuts, axing around 240 jobs in its 700-stong workforce, as it closed major parts of its <a href="https://tech.eu/2024/10/01/german-unicorn-solaris-on-the-right-track-after-job-cuts-and-axing-major-parts-of-business-unit/" target="_blank">EMI (Electronic Money Institution) business.</a> The Berlin-based fintech, which has raised around €500m in total, is said to be valued at around €1.6bn. Solaris undertook a €96m Series F fundraise in March this year (which also included a financial guarantee of up to €100m). But is now urgently seeking fresh funding, according to a report in German publication<a href="https://financefwd.com/de/solaris-verkauf-oder-funding/" target="_blank"> Finance Forward.</a> According to the report, a new funding round of between €100m and $150m is expected to be rubberstamped in the coming days but Solaris is also exploring a possible sale of the company should the funding fail. The fundraising is thought to likely come from existing investors. Existing investors in Solaris, which is headed up by <a href="https://tech.eu/2024/07/30/solaris-ceo-aims-to-instil-financial-discipline-amid-regulatory-scrutiny/" target="_blank">CEO Carsten Höltkemeyer </a>(pictured), include BBVA, finleap, Lakestar, yabeo, SBI, Decisive and HV Capital. Among the interested buyers are thought to be SBI, the Japanese investor which is a shareholder in Solaris, as well as Deutsche Bank, BNP Paribas also casting an eye over Solaris. According to reports in the German media, the urgency of the funding round relates to accounting issues and a delay in sales coming in. The value of the write-off of its UK EMI business, major parts of which it is discontinuing, is more than expected, while sales relating to its flagship ADAC contract are later than expected, sources say. Solaris is also in dispute with Binance, a former client, after Binance terminated an agreement for Solaris to provide Visa debit cards. Solaris filed a lawsuit against Binance, saying the crypto exchange owes it €144 million in minimum guaranteed fees until November 2026. Solaris said: "We don't comment on speculation, but we can confirm that we are close to finalising an agreement." ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/25/solaris-says-close-to-finalising-agreement-amid-reports-of-urgent-eur100m-funding-round/</guid> <dc:creator><![CDATA[John Reynolds]]></dc:creator> <pubDate>Mon, 25 Nov 2024 14:48:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/25/solaris-says-close-to-finalising-agreement-amid-reports-of-urgent-eur100m-funding-round/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/smart-540.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/smart-540_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[LTIMindtree and Microsoft partner to drive AI-powered solutions with joint strategy]]></title> <category><![CDATA[Artificial Intelligence]]></category> <link>https://tech.eu/2024/11/25/ltimindtree-and-microsoft-partner-to-drive-ai-powered-solutions-with-joint-strategy/</link> <comments>https://tech.eu/2024/11/25/ltimindtree-and-microsoft-partner-to-drive-ai-powered-solutions-with-joint-strategy/#comments</comments> <description><![CDATA[LTIMindtree has partnered with Microsoft to create a joint go-to-market strategy and make joint investments in AI-powered solutions.LTIMindtree is a global technology consulting and digital solutions ...]]></description> <content:encoded><![CDATA[<a href="https://www.ltimindtree.com/" target="_blank">LTIMindtree</a> has partnered with Microsoft to create a joint go-to-market strategy and make joint investments in AI-powered solutions. LTIMindtree is a global technology consulting and digital solutions company that helps other businesses to digitise their offering in line with the latest advances. The partnership will ensure interoperability of data used in enterprise products and bolster these products' cybersecurity facilities, for example Copilot for Microsoft 365, which merges natural language and extensive data into a tool that streamlines operations, or Microsoft Copilot for Security which offers automated incident response, integrated threat intelligence, and advanced threat analysis. “This partnership with LTIMindtree highlights our dedication to work with partners, to deliver secure AI solutions that empower organizations to transform and thrive,” said Julie Sanford, Vice President, Business Management, at Microsoft. “With Microsoft AI services like Copilot and Azure OpenAI Service, LTIMindtree is poised to drive significant advancements in AI-led digital transformation. Through our strategic alliance with Microsoft, we’re bringing our AI vision to life in ways that truly drive results," said Rohit Kedia, Chief Growth Officer at LTIMindtree. "The narrative isn’t just about adopting technology; it’s about transforming how businesses think, operate, and compete in the AI era. For our customers, this means faster innovation, more intelligent decision-making, and real-time insights that unlock new levels of growth and operational efficiency.” he added. LTIMindtree develops products across six solution areas: Infrastructure, Business Applications, Data and AI, Digital & Application Innovation, Modern Workplace & Security, and the GitHub Copilot specialization. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/25/ltimindtree-and-microsoft-partner-to-drive-ai-powered-solutions-with-joint-strategy/</guid> <dc:creator><![CDATA[Lucy Adams]]></dc:creator> <pubDate>Mon, 25 Nov 2024 11:09:14 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/25/ltimindtree-and-microsoft-partner-to-drive-ai-powered-solutions-with-joint-strategy/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/microsoft-ltimindtree-568.png" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/microsoft-ltimindtree-568_240x135.png" width="240" height="135" /> </item> <item> <title><![CDATA[Swiss insurtech Poncho raises CHF 550,000 for weather-insured travel]]></title> <category><![CDATA[Insurtech]]></category> <link>https://tech.eu/2024/11/25/swiss-insurtech-poncho-raises-chf-550-000-for-weather-insured-travel/</link> <comments>https://tech.eu/2024/11/25/swiss-insurtech-poncho-raises-chf-550-000-for-weather-insured-travel/#comments</comments> <description><![CDATA[Swiss insurtech Poncho has raised a CHF 550,000 seed round led by WeBuild Ventures. The raise follows Poncho's launch of its parametric weather insurance product; it has partnered with selected busine...]]></description> <content:encoded><![CDATA[Swiss insurtech <a href="https://www.useponcho.com/en" target="_blank">Poncho</a> has raised a CHF 550,000 seed round led by WeBuild Ventures. The raise follows Poncho's launch of its parametric weather insurance product; it has partnered with selected businesses to integrate its product in their booking processes. Poncho allows companies to factor in uncertainty as weather patterns become increasingly disrupted. With the new seed funding, Poncho will help businesses "de-risk" their weather dependency and enhance customer confidence in booking, rain or shine. Poncho’s product allows customers to add weather protection at the time of booking, enabling businesses to avoid last-minute cancellations caused by bad weather and encouraging advance bookings—ultimately boosting sales and improving operational stability. Using a proprietary system, Poncho crafts weather insurance offers live during the booking process, tailoring coverage and pricing to the specific location, date, and activity. Its technology monitors weather conditions in real-time using high-resolution models, and automatically issues refunds when predefined weather conditions are exceeded—with customers having no insurance claim to file. “This funding is a significant step forward in our journey to make weather insurance accessible and straightforward for everyone. We’re excited to partner with our investors to bring Poncho’s vision to life and expand our footprint across the Swiss travel and leisure landscape.” said Omar Jerrari, Founder & CEO of Poncho. “We believe Poncho is solving a real and growing pain point in the travel and leisure industries. Their innovative approach to weather insurance has the potential to create immense value for businesses and customers alike.” added Nicolas Lagreze , Managing Director at WeBuild Ventures. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/25/swiss-insurtech-poncho-raises-chf-550-000-for-weather-insured-travel/</guid> <dc:creator><![CDATA[Lucy Adams]]></dc:creator> <pubDate>Mon, 25 Nov 2024 11:04:35 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/25/swiss-insurtech-poncho-raises-chf-550-000-for-weather-insured-travel/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/unnamed-527.png" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/unnamed-527_240x135.png" width="240" height="135" /> </item> <item> <title><![CDATA[Last week recap: European tech companies raised over €2.5B, around 76% collected by 10 biggest deals]]></title> <category><![CDATA[Data/Research]]></category> <category><![CDATA[Premium]]></category> <link>https://tech.eu/2024/11/25/european-tech-companies-raised-over-2-5b-around-76-collected-by-10-biggest-deals/</link> <comments>https://tech.eu/2024/11/25/european-tech-companies-raised-over-2-5b-around-76-collected-by-10-biggest-deals/#comments</comments> <description><![CDATA[Last week, we tracked more than 95 tech funding deals worth over €2.5 billion, and over 15 exits, M&A transactions, rumours, and related news stories across Europe.The top three industries that ra...]]></description> <content:encoded><![CDATA[Last week, we <a href="https://tech.eu/2024/11/22/belgian-unicorn-odoo-raises-500m-northvolt-files-for-chapter-11-and-oasys-now-wins-1m-in-slush-100/" target="_blank">tracked</a> more than 95 tech funding deals worth over €2.5 billion, and over 15 exits, M&A transactions, rumours, and related news stories across Europe. The top three industries that raised the most were software (€667.6 million), fintech (€534 million) and analytics (€418.3 million). Regionally, companies from the 🇬🇧 UK secured €693 million, followed by 🇧🇪 Belgium (€512.3 million) and 🇪🇸 Spain (€412.9 million). As a paying subscriber, you're privy to our monthly <a href="https://tech.eu/insights/reports/" target="_blank">reports</a> that break down the essential deals, actions, and players across the European tech ecosystem. Now, let's get you up to speed on everything that happened last week, including your <a href="https://bit.ly/TechEUDeals2024CW47" target="_blank">handy.csv file</a> allowing for an even more in-depth analysis. Have a great week! <hr> <img title="countries-24102024-at-2x-475" class="lazyload " data-src="https://cdn.tech.eu/uploads/2024/11/countries-24102024-at-2x-475.png" alt=""> <hr> <h3>Funding deals by amount</h3> <ul> <li>BELGIUM: Odoo <a href="https://tech.eu/2024/11/21/belgian-unicorn-odoo-raises-eur500-m-reaching-a-eur5b-valuation/" target="_blank">raises</a> €500 M, reaching a €5B valuation</li> <li>SPAIN: seQura <a href="https://elreferente.es/inversiones/sequra-levanta-una-ronda-de-410-millones-de-euros-para-escalar-a-estados-unidos-alemania-y-reino-unido/" target="_blank">raises</a> a round of €410M</li> <li>UK: New unicorn Lighthouse <a href="https://tech.eu/2024/11/21/new-unicorn-lighthouse-secures-370m-series-c-for-travel-analytics/" target="_blank">secures</a> $370M Series C for travel analytics</li> <li>GERMANY: The Exploration Company <a href="https://tech.eu/2024/11/18/the-exploration-company-raises-160m-series-b-for-reusable-spacecraft-development/" target="_blank">raises</a> $160M Series B for reusable spacecraft development</li> <li>UK: Tokamak <a href="https://businesscloud.co.uk/news/100m-to-power-fusion-energy-pioneer-tokamak/" target="_blank">secured</a> £100M to power fusion energy</li> <li>SWEDEN: Northvolt <a href="https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/" target="_blank">secured</a> $100 million in new financing for the bankruptcy process</li> <li>FRANCE: ChapsVision <a href="https://www.finsmes.com/2024/11/chapsvision-raises-us90m-in-funding.html" target="_blank">raises</a> $90M in funding</li> <li>FINLAND: Oura, which develops smart rings, <a href="https://webrazzi.com/2024/11/20/oura-5-milyar-dolar-degerleme-uzerinden-75-milyon-dolar-yatirim-aldi/" target="_blank">raises</a> $75M at a $5 billion valuation</li> <li>PORTUGAL: TEKEVER <a href="https://tech.eu/2024/11/20/tekever-raises-eur70m-for-unmanned-aerial-systems-development/" target="_blank">raises</a> €70M for Unmanned Aerial Systems development</li> <li>UK: Quanta Dialysis Technologies <a href="https://www.finsmes.com/2024/11/quanta-dialysis-technologies-closes-over-60m-series-e-funding.html" target="_blank">closes</a> over $60M Series E funding</li> <li>UK: Nivoda <a href="https://www.finsmes.com/2024/11/nivoda-raises-51m-in-funding.html" target="_blank">raises</a> $51 million in funding</li> <li>SWEDEN: Neo4j <a href="https://www.breakit.se/artikel/41787/neo4j-tar-in-500-miljoner-nu-ar-siktet-installt-pa-new-york-borsen" target="_blank">takes</a> in €43M</li> <li>NETHERLANDS: EV maker Ebusco <a href="https://siliconcanals.com/dutch-ev-maker-ebusco-raises-e36m/" target="_blank">raises</a> €36M to boost operations</li> <li>GERMANY: Natural snack brand KoRo <a href="https://tech.eu/2024/11/20/natural-snack-brand-koro-secures-eur35m-series-c-for-european-expansion/" target="_blank">secures</a> €35M Series C for European expansion</li> <li>UK: CellPoint Digital <a href="https://www.finsmes.com/2024/11/cellpoint-digital-raises-30m-in-funding.html" target="_blank">raises</a> $30M in funding</li> <li>UK: Goodstack <a href="https://tech.eu/2024/11/18/goodstack-secures-28m-from-general-catalyst/" target="_blank">secures</a> $28M from General Catalyst</li> <li>GERMANY: Partech <a href="https://tech.eu/2024/11/18/deutsche-bank-and-partech-invest-in-qplixs-wealth-management-platform/" target="_blank">invests</a> over €25M in QPLIX's wealth management platform</li> <li>GERMANY: Zeotap <a href="https://www.deutsche-startups.de/2024/11/21/dealmonitor-zeotap-e-bs/" target="_blank">closed</a> $25M investment round</li> <li>GERMANY: Yttrium und Altinvestor 5I Ventures <a href="https://www.deutsche-startups.de/2024/11/19/dealmonitor-qplix-eye-able-gemesys/" target="_blank">invest</a> €20M in Eye Able</li> <li>GERMANY: PSG Equity and existing investors Redalpine, Force Over Mass Capital and Rockaway Ventures are <a href="https://www.deutsche-startups.de/2024/11/20/dealmonitor-koro-apaleo-aleph-alpha/" target="_blank">investing</a> €20M in apaleo</li> <li>NETHERLANDS: Qredits <a href="https://siliconcanals.com/qredits-signs-new-15m-credit-facility/" target="_blank">signs</a> new €15M credit facility with ING Nederland</li> <li>FRANCE: Faircraft <a href="https://tech.eu/2024/11/21/faircraft-raises-15m-to-scale-lab-grown-leather-production/" target="_blank">raises</a> €15M to scale lab-grown leather production</li> <li>ITALY: Cardo AI <a href="https://www.finsmes.com/2024/11/cardo-ai-raises-15m-in-series-a-funding.html" target="_blank">raises</a> $15M in Series A funding</li> <li>SWEDEN: Swedish ‘flying ferry’ startup Candela <a href="https://siliconcanals.com/candela-secures-additional-e13-3m/" target="_blank">secures</a> €13.3 million</li> <li>FRANCE: METRON <a href="https://tech.eu/2024/11/22/metron-secures-12-5m-for-industrial-energy-management/" target="_blank">secures</a> €12.5M for industrial energy management</li> <li>UK: Echion Technologies <a href="https://www.finsmes.com/2024/11/echion-technologies-raises-further-10m-in-funding.html" target="_blank">raises</a> further £10M in funding</li> <li>SWITZERLAND: LAK3 <a href="https://www.startupticker.ch/en/news/lak3-secures-12-4m-to-disrupt-the-water-economy" target="_blank">secures</a> $12.4M to disrupt the water economy</li> <li>DENMARK: Freya Biosciences <a href="https://www.finsmes.com/2024/11/freya-biosciences-raises-11-8m.html" target="_blank">raises</a> $11.8M</li> <li>AUSTRIA: Udo Filzmaier and Heinz Senger-Weiss as well as other investors are <a href="https://www.deutsche-startups.de/2024/11/21/dealmonitor-zeotap-e-bs/" target="_blank">investing</a> €11M in e.bs</li> <li>NETHERLANDS: TRACT <a href="https://siliconcanals.com/amsterdams-tract-raises-e10-5m/" target="_blank">raises</a> €10.5M to boost sustainability in agriculture</li> <li>NETHERLANDS: Organic Development Finance <a href="https://siliconcanals.com/organic-development-finance-secures-e10m/" target="_blank">secures</a> €10M</li> <li>TÜRKIYE: Kalder <a href="https://tech.eu/2024/11/20/kalder-raises-105m/" target="_blank">raises</a> $10.5M to transform loyalty programs into revenue streams</li> <li>UK: Konsileo <a href="https://www.finsmes.com/2024/11/konsileo-raises-8m-in-funding.html" target="_blank">raises</a> £8M in funding</li> <li>SWITZERLAND: Zitadel <a href="https://www.startupticker.ch/en/news/zitadel-raises-9-million-series-a" target="_blank">raises</a> $9 million Series A</li> <li>GERMANY: GEMESYS <a href="https://tech.eu/2024/11/19/gemesys-secures-8-6m-pre-seed-for-ai-chip-tech/" target="_blank">secures</a> €8.6M pre-seed for AI chip tech</li> <li>FINLAND: Keto Software <a href="https://siliconcanals.com/finlands-keto-software-raises-e8-4m/" target="_blank">raises</a> €8.4M to transform R&D portfolio management</li> <li>UK: ITC <a href="https://bdaily.co.uk/articles/2024/11/19/itc-secures-7-million-to-accelerate-expansion" target="_blank">secures</a> £7M to accelerate expansion</li> <li>FRANCE: Arenametrix <a href="https://www.journaldunet.com/start-up/1536519-arenametrix-leve-pres-de-8-millions-d-euros-pour-sa-plateforme-crm-dediee-a-l-evenementiel/" target="_blank">raises</a> €8M for its CRM platform dedicated to events</li> <li>UK: Little Journey <a href="https://startupsmagazine.co.uk/article-little-journey-raises-ps6m-redefine-delivery-paediatric-care" target="_blank">raises</a> £6M to redefine delivery of paediatric care</li> <li>BELGIUM: Apideck <a href="https://tech.eu/2024/11/20/apideck-raises-7-5m-series-a-for-api-platform/" target="_blank">raises</a> $7.5M Series A for API platform</li> <li>GERMANY: Juna.ai <a href="https://siliconcanals.com/juna-ai-exits-stealth-mode-with-7-1m/" target="_blank">exits</a> stealth mode with €7.1M to decarbonise and optimise complex industrial processes</li> <li>GERMANY: Pruna AI <a href="https://tech.eu/2024/11/18/ionkraft-secures-eur-35-m-equity-funding-to-fuel-circular-economy-in-packaging/" target="_blank">raises</a> $6.5M to make AI development faster, cheaper and greener</li> <li>SWEDEN: Kodiak Hub <a href="https://siliconcanals.com/swedens-kodiak-hub-secures-6m/" target="_blank">secures</a> €6M</li> <li>UK: Cytomos <a href="https://tech.eu/2024/11/19/cytomos-raises-5m-to-scale-up-cell-analysis-production/" target="_blank">raises</a> £5M to scale up cell-analysis production</li> <li>BELGIUM: BiocSol <a href="https://tech.eu/2024/11/20/biocsol-secures-5-2m-seed-funding-for-microbial-pesticides/" target="_blank">secures</a> €5.2M seed funding for microbial pesticides</li> <li>NETHERLANDS: Firsty <a href="https://tech.eu/2024/11/19/firsty-raises-5-1m-to-increase-data-connectivity/" target="_blank">raises</a> €5.1M to increase data connectivity</li> <li>FRANCE: Twenty <a href="https://tech.eu/2024/11/19/twenty-secures-5m-to-challenge-crm-giants-with-open-source/" target="_blank">secures</a> $5M to challenge CRM giants with open source</li> <li>SWITZERLAND: Digt <a href="https://www.startupticker.ch/en/news/digt-closes-chf3-7-million-funding-round-to-expand-internationally" target="_blank">closes</a> €4M funding round to expand internationally</li> <li>UK: PervasID on <a href="https://bdaily.co.uk/articles/2024/11/21/rfid-innovator-secures-325-million-to-accelerate-growth" target="_blank">growth</a> trail with £3.25M support</li> <li>SWITZERLAND: Calvin Risk <a href="https://tech.eu/2024/11/19/calvin-risk-raises-4m-to-enhance-ai-safety-and-compliance/" target="_blank">raises</a> $4M to enhance AI safety and compliance</li> <li>GERMANY: Ubitium <a href="https://www.deutsche-startups.de/2024/11/22/dealmonitor-ubitium-fahrengold/" target="_blank">receives</a> $3.7M investment</li> <li>GERMANY: IonKraft <a href="https://tech.eu/2024/11/18/ionkraft-secures-3-5-m-equity-funding-to-fuel-circular-economy-in-packaging/" target="_blank">secures</a> €3.5M equity funding to fuel circular economy in packaging</li> <li>UK: Tewke <a href="https://www.uktech.news/climate-tech/tewke-raises-2-6m-in-seed-round-to-develop-intelligent-light-switch-20241120" target="_blank">raises</a> £2.6M in seed round to develop intelligent light switch</li> <li>UK: Linkup <a href="https://www.maddyness.com/2024/11/18/ia-linkup-leve-3-millions-deuros-pour-mieux-entrainer-les-modeles-grace-aux-contenus-de-presse/" target="_blank">raises</a> €3M to better train models using press content</li> <li>FRANCE: Eden AI <a href="https://tech.eu/2024/11/21/eden-ai-raises-3m-seed-for-ai-interoperability/" target="_blank">raises</a> €3M seed for AI interoperability</li> <li>FRANCE: Freqens <a href="https://www.maddyness.com/2024/11/21/b2b-freqens-leve-3-millions-deuros-pour-aider-les-entreprises-a-acheter-au-juste-prix/" target="_blank">raises</a> €3M to help companies buy at the right price</li> <li>UK: Heim Health <a href="https://tech.eu/2024/11/19/heim-health-raises-2-65m-for-at-home-healthcare/" target="_blank">raises</a> €2.65M for at-home healthcare</li> <li>FINLAND: Taito.ai <a href="https://www.finsmes.com/2024/11/taito-ai-raises-2-7m-in-seed-funding.html" target="_blank">raises</a> $2.7M in seed funding</li> <li>IRELAND: Continuous Software <a href="https://startupsmagazine.co.uk/article-continuous-software-raises-eu1m-seed-funding-fuel-emea-expansion" target="_blank">raises</a> €1M seed funding to fuel EMEA expansion</li> <li>FINLAND: Serviceform <a href="https://tech.eu/2024/11/19/serviceform-secures-2-45m-for-sme-marketing-suite/" target="_blank">secures</a> €2.45M for SME marketing suite</li> <li>SWEDEN: Forsway <a href="https://siliconcanals.com/swedens-forsway-secures-e2-3m-in-funding/" target="_blank">secures</a> €2.3M funding from the European Space Agency</li> <li>NETHERLANDS: AI edtech startup LearnWise <a href="https://siliconcanals.com/amsterdams-ai-edtech-startup-learnwise-bags-e2m/" target="_blank">bags</a> €2M</li> <li>NORWAY: Augere Medical <a href="https://www.finsmes.com/2024/11/augere-medical-raises-nok23m-in-first-close-funding.html" target="_blank">raises</a> €1.9M in first close funding</li> <li>FINLAND: Happy Plant Protein <a href="https://tech.eu/2024/11/18/happy-plant-protein-bags-1-8m-to-disrupt-plant-protein-market-with-local-low-cost-production/" target="_blank">bags</a> €1.8M to disrupt plant protein market with local, low-cost production</li> <li>UK: Female founding duo <a href="https://businesscloud.co.uk/news/female-founding-duo-secure-1-4m-seed-funding-for-needi/" target="_blank">secure</a> £1.4M seed funding for needi</li> <li>ITALY: Eye2Drive <a href="https://startupitalia.eu/startup/eye2drive-chiude-un-round-a-1-5-milioni/" target="_blank">closes</a> a round of €1.5M</li> <li>UK: MannyAI <a href="https://tech.eu/2024/11/21/mannyai-raises-eur15-m-to-reduce-over-production-in-the-fashion-industry/" target="_blank">raises</a> €1.5M to reduce overproduction in the fashion industry</li> <li>UK: Dote <a href="https://www.finsmes.com/2024/11/dote-raises-1-15m-in-seed-funding.html" target="_blank">raises</a> £1.15M in seed funding</li> <li>SLOVAKIA: SuperScale <a href="https://tech.eu/2024/11/19/superscale-raises-1-2m-for-gaming-analytics-platform/" target="_blank">raises</a> $1.2M for gaming analytics platform</li> <li>NETHERLANDS: Blockchain ticketing startup Celebratix <a href="https://tech.eu/2024/11/20/dutch-blockchain-ticketing-startup-celebratix-secures-eur11m-funding/" target="_blank">secures</a> €1.1M</li> <li>SPAIN: Insectius <a href="https://elreferente.es/inversiones/insectius-cierra-una-ronda-de-un-millon-de-euros-para-desplegar-sus-granjas-de-insectos-por-toda-espana/" target="_blank">closes</a> a round of €1M</li> <li>SPAIN: EZ Telecom <a href="https://elreferente.es/inversiones/ez-telecom-cierra-una-nueva-ronda-de-un-millon-de-euros/" target="_blank">closes</a> a new round of €1M</li> <li>NETHERLANDS: OASYS NOW <a href="https://tech.eu/2024/11/21/oasys-now-wins-eur1m-in-slush-100-competition/" target="_blank">wins</a> €1 million in Slush 100 competition</li> <li>ROMANIA: Fagura <a href="https://therecursive.com/romanian-moldovian-fagura-raises-e1-million-for-their-digital-financial-ecosystem/" target="_blank">raises</a> €1M for their digital financial ecosystem</li> <li>GERMANY: The private investor network Companisto is <a href="https://www.deutsche-startups.de/2024/11/21/dealmonitor-zeotap-e-bs/" target="_blank">investing</a> €960,000 in Adaptive Balancing Power</li> <li>GERMANY: Sedivention <a href="https://www.finsmes.com/2024/11/sedivention-raises-e800k-in-pre-seed-funding.html" target="_blank">raises</a> €800,000 in pre-seed funding</li> <li>UK: Bristol startup <a href="https://businesscloud.co.uk/news/bristol-startup-secures-500k-for-world-first-aqua-rehab-tech/" target="_blank">secures</a> £500,000 for ‘world-first’ aqua rehab tech</li> <li>ITALY: DoctorApp <a href="https://startupitalia.eu/startup/doctorapp-round-mezzo-milione-euro/" target="_blank">closes</a> a crowdfunding at €500,000</li> <li>SPAIN: Rhyde <a href="https://elreferente.es/inversiones/rhyde-cierra-una-ronda-de-460-000-euros-para-acelerar-el-crecimiento-de-la-micromovilidad/" target="_blank">closes</a> a €460,000 round</li> <li>SPAIN: Zonox <a href="https://elreferente.es/inversiones/zonox-levanta-440-000-euros-en-su-primera-ronda-de-financiacion/" target="_blank">raises</a> €440,000 in its first round of financing</li> <li>NETHERLANDS: Noordwijk-based Spatialise <a href="https://siliconcanals.com/uniiq-invests-350k-in-spatialise/" target="_blank">raises</a> €350,000 from UNIIQ</li> <li>CROATIA: SaaS startup Bitreport <a href="https://tech.eu/2024/11/19/croatian-saas-startup-bitreport-raises-eur300000-for-chain-store-management/" target="_blank">raises</a> €300,000 for chain store management</li> <li>ITALY: Edtech, the Discentis startup <a href="https://startupitalia.eu/startup/discentis-edtech-round-250mila-euro/" target="_blank">closes</a> a 250 million euro round</li> <li>SWITZERLAND: Grensol <a href="https://www.startupticker.ch/en/news/grensol-awarded-chf-150-000-to-advance-its-waste-to-materials-technology" target="_blank">awarded</a> €161,000 to advance its waste-to-materials technology</li> <li>GERMANY: VIZTA DGTL <a href="https://www.deutsche-startups.de/2024/11/18/dealmonitor-the-exploration-company-wyden/" target="_blank">secured</a> €1.5M investment</li> <li>FINLAND: Snorble <a href="https://www.finsmes.com/2024/11/snorble-receives-strategic-investment-finestlove-vc.html" target="_blank">receives</a> strategic investment from FinestLove VC</li> <li>TÜRKIYE: Cybersecurity startup ThreatMon <a href="https://webrazzi.com/2024/11/19/threatmon-pragma-capital-partnerstan-yatirim-aldi/" target="_blank">raises</a> investment from Pragma Capital Partners</li> <li>GERMANY: Bonventure is <a href="https://www.deutsche-startups.de/2024/11/20/dealmonitor-koro-apaleo-aleph-alpha/" target="_blank">investing</a> a seven-figure sum in caera</li> <li>GERMANY: Deutsche Bank is <a href="https://www.deutsche-startups.de/2024/11/20/dealmonitor-koro-apaleo-aleph-alpha/" target="_blank">investing</a> an undisclosed sum in Aleph Alpha</li> <li>TÜRKIYE: MonSpark <a href="https://webrazzi.com/2024/11/20/monspark-fuzul-venturestan-5-milyon-dolar-degerleme-ile-yatirim-aldi/" target="_blank">receives</a> investment from Fuzul Ventures at a valuation of $5M</li> <li>FRANCE: Applied Ventures <a href="https://tech.eu/2024/11/21/applied-ventures-backs-microoled-in-advancing-arvr-technology/" target="_blank">backs</a> Microoled in advancing OLED microdisplays</li> <li>SWITZERLAND: B'ZEOS <a href="https://tech.eu/2024/11/22/b-zeos-raises-seed-funding-for-seaweed-based-packaging/" target="_blank">raises</a> seed funding for seaweed-based packaging</li> <li>UK: Chiron Health AI <a href="https://businesscloud.co.uk/news/chiron-health-ai-raises-funds-to-target-chronic-disease-management/" target="_blank">raises</a> funds to target chronic disease management</li> <li>NETHERLANDS: Delft-based GEHECO <a href="https://siliconcanals.com/delft-based-geheco-raises-funds/" target="_blank">raises</a> funds to decarbonise residential heating</li> <li>NETHRELANDS: Amsterdam’s Treety <a href="https://siliconcanals.com/amsterdams-treety-bags-funding/" target="_blank">secures</a> funding to help companies resolve ESG data challenges</li> <li>GERMANY: Brandenburg Kapital and PRO Sunflower are <a href="https://www.deutsche-startups.de/2024/11/22/dealmonitor-ubitium-fahrengold/" target="_blank">investing</a> a seven-figure sum in Robovis</li> <li>SWITZERLAND: Spectroplast <a href="https://www.deutsche-startups.de/2024/11/22/dealmonitor-ubitium-fahrengold/" target="_blank">received</a> an undosclosed sum investment</li> </ul> <hr> <img title="top-10-industries-24112024-at-2x-474" class="lazyload " data-src="https://cdn.tech.eu/uploads/2024/11/top-10-industries-24112024-at-2x-474.png" alt=""> <hr> <h3>Exits and M&A activity</h3> <ul> <li>FRANCE: Halma plc makes £42 million <a href="https://businesscloud.co.uk/news/halma-plc-makes-42m-swoop-for-french-leader/" target="_blank">swoop</a> for French leader</li> <li>FRANCE: Adzuna strengthens presence in North America and Europe with Seiza <a href="https://tech.eu/2024/11/18/adzuna-strengthens-presence-in-north-america-and-europe-with-seiza-acquisition/" target="_blank">acquisition</a></li> <li>UK: PayPal-backed Modulr <a href="https://tech.eu/2024/11/19/paypal-backed-modulr-snaps-up-first-acquisition/" target="_blank">snaps up</a> first acquisition</li> <li>GERMANY: The private equity company Inflexion is <a href="https://www.deutsche-startups.de/2024/11/18/dealmonitor-the-exploration-company-wyden/" target="_blank">taking over</a> the majority of Finanzen.net</li> <li>GERMANY: Amundi will <a href="https://www.finextra.com/pressarticle/103225/amundi-acquires-axigo" target="_blank">acquire</a> Axigo</li> <li>FRANCE: Bloomflow <a href="https://www.maddyness.com/2024/11/19/bloomflow-rachete-agorize-quand-lopen-innovation-rencontre-le-management-strategique/" target="_blank">acquires</a> Agorize</li> <li>GERMANY: The Koblenz-based GovTech company mps is now <a href="https://www.deutsche-startups.de/2024/11/19/dealmonitor-qplix-eye-able-gemesys/" target="_blank">part</a> of the MACH group of companies</li> <li>UK: Ciphr <a href="https://www.finsmes.com/2024/11/ciphr-acquires-avantus.html" target="_blank">acquires</a> Avantus</li> <li>TÜRKIYE: Game District <a href="https://webrazzi.com/2024/11/19/game-district-yerli-mobil-oyun-girisimi-gleam-games-in-cogunluk-hissesini-satin-aldi/" target="_blank">acquires</a> majority stake in local mobile gaming startup Gleam Games</li> <li>GERMANY: The content marketing agency Rheindigital is <a href="https://www.deutsche-startups.de/2024/11/20/dealmonitor-koro-apaleo-aleph-alpha/" target="_blank">taking over</a> the Berlin content marketing startup fyrfeed</li> <li>SPAIN: Septeo <a href="https://elreferente.es/actualidad/septeo-adquiere-nivimu-empresa-espanola-especializada-en-software-de-recursos-humanos/" target="_blank">acquires</a> Nivimu, a Spanish HR software</li> <li>GERMANY: The Leipzig-based Spread Group is <a href="https://www.deutsche-startups.de/2024/11/21/dealmonitor-zeotap-e-bs/" target="_blank">taking over</a> the Berlin-based company BerlinTextil</li> <li>SWEDEN: Amsterdam’s Mews <a href="https://siliconcanals.com/mews-acquires-atomize/" target="_blank">acquires</a> Sweden’s Atomize</li> <li>UK: Growth Catalyst Partners <a href="https://siliconcanals.com/growth-catalyst-partners-acquires-inspiredminds/" target="_blank">acquires</a> InspiredMinds!</li> <li>NETHERLANDS: Amsterdam’s TNW Programs to <a href="https://siliconcanals.com/tnw-programs-to-merge-with-nlmtd/" target="_blank">merge</a> with nlmtd</li> <li>GERMANY: The listed Hamburg cooking company Circus is planning to <a href="https://www.deutsche-startups.de/2024/11/21/dealmonitor-zeotap-e-bs/" target="_blank">take over</a> the AI software provider Campo Group</li> </ul> ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/25/european-tech-companies-raised-over-2-5b-around-76-collected-by-10-biggest-deals/</guid> <dc:creator><![CDATA[Tamara Djurickovic]]></dc:creator> <pubDate>Mon, 25 Nov 2024 09:10:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/25/european-tech-companies-raised-over-2-5b-around-76-collected-by-10-biggest-deals/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/featured-image-24112024-926.png" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/featured-image-24112024-926_240x135.png" width="240" height="135" /> </item> <item> <title><![CDATA[Cloud management platform emma secures $17M in Series A funding]]></title> <category><![CDATA[SaaS]]></category> <link>https://tech.eu/2024/11/25/cloud-management-platform-emma-secures-17m-in-series-a-funding/</link> <comments>https://tech.eu/2024/11/25/cloud-management-platform-emma-secures-17m-in-series-a-funding/#comments</comments> <description><![CDATA[emma, a cloud management platform, has raised $17M in a new Series A funding round. The news follows its $6 million Seed Round in March 2023, bringing total funding to $23M within two years.The round ...]]></description> <content:encoded><![CDATA[<a href="https://www.emma.ms/" target="_blank">emma</a>, a cloud management platform, has raised $17M in a new Series A funding round. The news follows its $6 million Seed Round in March 2023, bringing total funding to $23M within two years. The round was led by Smartfin, with participation from RTP Global and existing investors. The capital will fuel the expansion of emma’s product development, accelerate go-to-market efforts, and enhance customer success initiatives. Founded in 2019, emma's platform combines advanced AI-driven automation, real-time analytics, and comprehensive multicloud management capabilities, allowing teams to gain full visibility and control over their cloud environments. By simplifying complex cloud ecosystems, emma allows businesses to optimise workloads, forecast usage, and manage multicloud strategies, enabling more effective resource allocation and financial predictability. CEO, Dmitry Panenkov commented “At emma, we’re shaping the future of cloud operations. As businesses grow, they need the freedom to scale across any provider without limitations. We're building the standards to make cloud-agnostic operations a reality. This funding accelerates our mission to give companies the control and flexibility they need to optimize across all environments.” The Series A round will allow emma to continue its rapid innovation and bring new features to the platform, including AI accelerators, enhanced security, broader cloud integrations, and more robust automation capabilities. Additionally, the company intends to establish a research and development center at its headquarters in Luxembourg to support product development and address the increasing demands of its growing customer base. “emma is addressing one of the most critical challenges for modern enterprises: managing and optimizing complex multi-cloud environments," added Harry Haeck, Partner at Smartfin "By combining automation, cost visibility, and actionable insights into a single platform, emma offers a unique approach to cloud management, enabling businesses to focus on innovation instead of infrastructure. At Smartfin, we are proud to partner with a transformative company that is leading the way in smarter, more agile cloud strategies for enterprises worldwide.” Photo by Growtika on Unsplash ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/25/cloud-management-platform-emma-secures-17m-in-series-a-funding/</guid> <dc:creator><![CDATA[Lucy Adams]]></dc:creator> <pubDate>Mon, 25 Nov 2024 09:00:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/25/cloud-management-platform-emma-secures-17m-in-series-a-funding/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/growtika-am6pbe2fpjw-unsplash-31.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/growtika-am6pbe2fpjw-unsplash-31_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[The opportunities and responsibilities in impact investing [Advertorial]]]></title> <category><![CDATA[Mobility]]></category> <link>https://tech.eu/2024/11/25/the-opportunities-and-responsibilities-in-impact-investing/</link> <comments>https://tech.eu/2024/11/25/the-opportunities-and-responsibilities-in-impact-investing/#comments</comments> <description><![CDATA[The end of 2024 will mark the hottest decade on record. With it we continue to see the adverse environmental effects that come with it – extreme weather events, loss of glacial ice and rising sea leve...]]></description> <content:encoded><![CDATA[The end of 2024 will mark the hottest decade on record. With it we continue to see the adverse environmental effects that come with it – extreme weather events, loss of glacial ice and rising sea levels to name a very significant few. The end of this decade is also marked by COP 29. The annual meeting of world leaders, this year taking place in Baku, Azerbaijan, are discussing the actions needed for international alignment regarding the climate crisis. According to UN coverage of the event, due to the focus of this year’s conference it is being called the ‘climate finance COP’. A main point of discussion is securing the significant financial investments needed to reduce emissions and protect vulnerable populations. This is in particular reference to aiding emerging economies adapt to the most negative impacts of climate change and cut carbon output. An ever-important discussion to have, COP 29 punctuates the role of strategic impact investing. At EIT Urban Mobility impact is at the centre of investment, acting as a constant guide in which direction the investment decision should take. When discussing impact investing there is a natural question; how does this differ from regular venture capital (VC) activity? At a fundamental level it is the emphasis that the investments which are made must have a positive impact from either an environmental and/or societal level. This consideration adds constraints and steps which are generally absent from the traditional VC model. A model which, among other things, prioritises financial return regardless of the effect it has environmentally or societally. <h2>Aligning with impact</h2> EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT), a body of the European Union, is here to address critical need. This means focusing on the most pressing challenges facing us all and those companies who create the innovative solutions to address them. To ensure consistent alignment with this pursuit, investments are evaluated based on their own potential to create impact. But what is impact? Impact refers to the breadth, depth and scale of change an investment can make - or conversely, the lack of impact. EIT Urban Mobility aims to support companies and initiatives that can reach and benefit as many people as possible and/or improve environmental conditions to create liveable cities. Impact investments are evaluated based on their ability to create a positive change to users and community rather than solely the potential of the market size to benefit the investment. The duration of impact is also considered: For how long will the positive impact be felt? In a way this consideration is akin to the traditional investment view of sustained profits. Longevity is an important factor to consider as investments with lasting benefits should be viewed as more valuable over quick fixes. This means supporting projects and organisations that have sustained business models, strong governance and the ability to grow and maintain their impact over time. <h2>Environmental and social diligence</h2> As expected with all types of investment, due diligence and analysis must be carried out. This takes the form of accessing the market opportunity, business model, the team & founders and risk to name a few. When incorporating the impact of an investment as a primary marker however, EIT Urban Mobility welcomes the additional and necessary steps to fulfil that role. At the heart of this responsibility lies the rigorous assessment of both positive and negative impacts across four expansive dimensions (Society, Knowledge, Health and Environment) and 19 diverse categories, as delineated by the Upright Project’s Net Impact Model. Paramount to this process is the alignment of companies with the Sustainable Development Goals (SDGs), ensuring that investments resonate with EIT Urban Mobility's core mission and values. The Upright Project uses a model which is based on a network which employs an analysis of 250 million scientific articles, public statistical databases and a proprietary taxonomy of over 150,000 product and service categories to assess impact. To guide investment decisions, EIT Urban Mobility looks at the Net Impact Ratio (%), which indicates whether, considering both the positive and negative impacts a company has, it is contributing more positively or negatively to the world. The maximum value of the net impact ratio is 100%, symbolising a company with no negative impacts, while there is no minimum value. <h2>What results does this approach produce?</h2> EIT Urban Mobility’s portfolio Net Impact Ratio is +46%, meaning the portfolio creates 46% less negative impacts than positive impacts. This exceeds the benchmark Net Impact Ratio of 37% and converts to real world results when considering equivalent outputs. In relation to social impact, EIT Urban Mobility’s portfolio generated the equivalent of 1,070 direct or indirect jobs while producing an environmental impact which is comparable reducing 10,027 tonnes of emissions. Regarding knowledge, of which the goal is to contribute to knowledge infrastructure, engineering services equal to 25 years of highly skilled, full-time work. In promoting active forms of active mobility, such as cycling and walking, the health impact of the portfolio corresponds to 242 life years. The consideration of impact goes further than just the investments themselves but also considers the gender makeup of teams and the region or geography they originate. When taking this into account, it becomes apparent that there are multiple layers to what is collectively referred to as impact investing. However, in properly assessing these layers EIT Urban Mobility can say investing in this way creates a more equitable playing field in the mobility sector: 45% of startups in EIT Urban Mobility’s equity portfolio are led and/or founded by women. <h2>Learn more about impact investing</h2> As more cities around the world deal with the challenges of urbanisation and climate change, targeted impact investing has the power to contribute to its easing. With the correct investments, policies and infrastructures in place, it is possible to create urban environments which are both enjoyable and functional for us and the environment. To help in gaining a better understanding of this form of investing and its many aspects, EIT Urban Mobility has released its Impact Report. This report explores the importance of impact investing, the considerations of measurement and EIT Urban Mobility’s approach to foster tangible transformations in both society and the environment. Playing a crucial role in seeking to solve complex mobility issues, presented are a selection of startups whose varied and important work makes positive contributions to our daily lives. To learn more about EIT Urban Mobility’s portfolio, investment strategy and process, read the 2024 Impact Report <a href="https://www.eiturbanmobility.eu/wp-content/uploads/2024/11/2024-Impact-Report-EIT-Urban-Mobility.pdf" target="_blank">here</a>. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/25/the-opportunities-and-responsibilities-in-impact-investing/</guid> <dc:creator><![CDATA[Guest Writer]]></dc:creator> <pubDate>Mon, 25 Nov 2024 09:00:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/25/the-opportunities-and-responsibilities-in-impact-investing/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/eit-urban-mobility-611.png" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/eit-urban-mobility-611_240x135.png" width="240" height="135" /> </item> <item> <title><![CDATA[Candix's secret to efficient recruitment: stealth job hunting]]></title> <category><![CDATA[HRtech]]></category> <link>https://tech.eu/2024/11/25/candixs-secret-to-efficient-recruitment-stealth-job-hunting/</link> <comments>https://tech.eu/2024/11/25/candixs-secret-to-efficient-recruitment-stealth-job-hunting/#comments</comments> <description><![CDATA[Looking for work is no easy task. Some platforms require cover letters and resumes, and others, videos. There's the problem of ghost jobs, not to mention ghosting post-application or even post-intervi...]]></description> <content:encoded><![CDATA[Looking for work is no easy task. Some platforms require cover letters and resumes, and others, videos. There's the problem of<a href="https://stackoverflow.blog/2024/07/15/the-ghost-jobs-haunting-your-career-search/" target="_blank"> ghost jobs</a>, not to mention ghosting post-application or even post-interview. And how do you apply stealthily for jobs in a sector where everyone knows everyone? French-founded startup<a href="https://candix.com/" target="_blank"> Candix</a> has found a way. It has developed a platform where, instead of actively applying, qualified candidates are discovered by potential employers. I spoke to founder Theo Avoyne to find out more. He detailed: <blockquote> “Candix is a platform that targets people who currently have a job but might be open to switching companies or starting a new career. It helps people avoid the uncomfortable situation of managing both their transition and their manager.” </blockquote> <h2 dir="ltr">Your boss won't know you're job hunting</h2> Candix prioritises job seeker confidentiality by implementing multiple security measures. Companies must sign NDAs to access the talent pool, and access is limited to one point of contact per company. This enables job seekers to explore future opportunities without risking their current positions, as profiles are hidden from current and previous employers. Users can specify their ideal job criteria, filtering out irrelevant offers and ensuring they're only approached with suitable positions. Most people adding their profiles to the platform are seeking more ownership, career advancement, or a higher salary. <blockquote> "They know they are in market demand and that other people are getting paid way better for the same role, so they are curious. They want to find out what's possible. It's a lot easier to create a profile on Candix and to ask for that salary than to negotiate with a manager." </blockquote> Further, the platform is completely free for job seekers. <h2 dir="ltr">Capitalising on the AI talent war</h2> According to Avoyne, startups were trying to poach talent from big tech a few years ago, "but now they're also poaching talent from each other." While expanding, the platform is currently focused on the AI talent war, specifically targeting AI and machine learning practitioners as well as software engineers. <blockquote> “We’re taking advantage of the competition for AI talent, so intense that we’ve grown from 0 to six figures in ARR in just 3 months, growing 100% month-over-month.” </blockquote> <h2 dir="ltr">Startups up the ante with higher salaries to attract top talent</h2> Avoyne observes a steady increase in salaries on Candix, which aligns with broader market trends. Traditionally, startups have prioritised equity over substantial cash compensation. “However, to compete with major tech companies offering significant salaries to AI and senior software engineers, startups are now compelled to adjust their compensation packages. We’re seeing salaries of €150,000 to €200,000, which is a departure from historical norms in Europe.” <blockquote> “Recent astronomical fundraises for AI companies are also contributing to inflated salaries, at the expense of startups that might not have raised as much.” </blockquote> The average salary requested on Candix in October in Paris was €109,000, with a steady monthly increase over the past six months, averaging 2.5 per cent. Recruitment is expensive for any competitive startup, with a single role costing as much as €20,000–30,000 through conventional platforms and agencies. According to Avoyne, Candix utilises a network of external recruiters to onboard candidates: <blockquote> “The typical life of a recruiter is that you have a role to fill, so you source 50 people. You talk with 30 of them and interview maybe 20. In the end, only one person gets hired. That means 49 people have been in your process for nothing. It’s a lost pipeline. So basically, we incentivize recruiters to invite discarded yet competitive candidates to Candix.” </blockquote> <h2 dir="ltr">Europeans flocking to US tech jobs</h2> In the last two years, the number of Europeans who have emigrated to the US for AI roles has increased by over 300 per cent. The proportion of French talent on Candix open to relocation is now 42 per cent, up 39 per cent from six months ago. Among this group, the top target countries are the US (68 per cent), Switzerland (36 per cent), and the UK (27 per cent). Avoyne also stresses that while the company is focused on attracting currently employed people to new roles, they don't prevent the unemployed from signing up. <blockquote> "While the total number of people signing up on Candix is globally diverse, the most relevant metric is the number of candidates who actively match our target audience and company needs. We carefully curate our candidate pool to ensure they align with the specific requirements of our partner companies." </blockquote> The company prioritises active candidates. Those who haven't updated their profiles or indicated their job-seeking status are removed. This ensures that companies receive timely responses from qualified candidates. <blockquote> "Our active candidate pool typically ranges from 300 to 600 individuals on a 30-day rolling basis. This rigorous curation process, though operationally demanding, provides a significant advantage for our partner companies. They benefit from a response rate far above industry standards." </blockquote> In October, Candix announced a €185,000 funding raise to test the US market following its successful launch in France. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/25/candixs-secret-to-efficient-recruitment-stealth-job-hunting/</guid> <dc:creator><![CDATA[Cate Lawrence]]></dc:creator> <pubDate>Mon, 25 Nov 2024 08:00:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/25/candixs-secret-to-efficient-recruitment-stealth-job-hunting/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/download-11-372.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/download-11-372_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[Fintech NORBr raises €3M for payments software]]></title> <category><![CDATA[Fintech]]></category> <link>https://tech.eu/2024/11/25/fintech-norbr-raises-3m-for-payments-software/</link> <comments>https://tech.eu/2024/11/25/fintech-norbr-raises-3m-for-payments-software/#comments</comments> <description><![CDATA[Payment Infrastructure as a Service (IaaS) provider NORBr, has raised €3M in a round led by Alstin Capital, with participation from previous round’s lead investor, Portfolion. This capital will be use...]]></description> <content:encoded><![CDATA[Payment Infrastructure as a Service (IaaS) provider <a href="https://norbr.com/" target="_blank">NORBr</a>, has raised €3M in a round led by <a href="https://alstin.capital/" target="_blank">Alstin Capital</a>, with participation from previous round’s lead investor, Portfolion. This capital will be used for product development, including the advancement of features for managing payment terminals, operational efficiency and compliance. The global payments market is projected to reach $2.2T by 2027, with substantial development costs and long timelines that create barriers for operators aiming to modernize or launch payment solutions. NORBr’s routing capabilities offer faster market access and increased resilience in managing payment flows. Its clients include prominent luxury brands, health-focused companies like Welltech, and financial service providers such as Equals Money and OnRamp. This €3M funding round will accelerate NORBr’s roadmap, including the development of advanced omnichannel features, operational automation, and compliance tools. It will also support targeted hires in key areas to expand platform capabilities and enhance client support. “We are thrilled to support such an experienced team in building the next generation of payment infrastructure. This is evident in their enterprise-level technology and impressive customer base. The no-code, omnichannel solution offers two key advantages: Firstly, it enables the fast and secure integration of new payment service providers worldwide, both in physical and online retail. Secondly, NORBr’s infrastructure facilitates the modernization of legacy systems. We couldn’t be happier to have such a talented team in our portfolio.” said Nabil Naimy, CEO. “With our extensive experience in building payment platforms, we’ve seen firsthand the challenges of high investment, delays, and the ongoing demands of platform management. NORBr was created to solve these issues, providing a robust and innovative infrastructure that supports legacy upgrades and facilitates new market entries for our clients. Our lean, capital-efficient approach has enabled us to deliver a highly impactful solution that maximizes client value.” ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/25/fintech-norbr-raises-3m-for-payments-software/</guid> <dc:creator><![CDATA[Lucy Adams]]></dc:creator> <pubDate>Mon, 25 Nov 2024 07:30:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/25/fintech-norbr-raises-3m-for-payments-software/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/norbr-founder-vlnr-pascal-gauvrit-cto-olga-bouriche-coo-cyril-tanneau-cio-nabil-naimy-ceo-cbarbara-kieboom-633.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/norbr-founder-vlnr-pascal-gauvrit-cto-olga-bouriche-coo-cyril-tanneau-cio-nabil-naimy-ceo-cbarbara-kieboom-633_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[Revolut says 2025 “bigger and better" as announces tray of new products]]></title> <category><![CDATA[Fintech]]></category> <link>https://tech.eu/2024/11/22/revolut-says-2025-bigger-and-better-as-it-announces-tray-of-new-products/</link> <comments>https://tech.eu/2024/11/22/revolut-says-2025-bigger-and-better-as-it-announces-tray-of-new-products/#comments</comments> <description><![CDATA[Revolut CEO and co-founder Nik Storonsky today pledged that 2025 would be “bigger and better” as the fintech giant revealed some of its product launches for next year.Storonsky and Revolut co-founder ...]]></description> <content:encoded><![CDATA[<a href="https://www.revolut.com/" target="_blank">Revolu</a><a href="https://www.revolut.com/" target="_blank">t</a> CEO and co-founder Nik Storonsky today pledged that 2025 would be “bigger and better” as the fintech giant revealed some of its product launches for next year. Storonsky and Revolut co-founder Vlad Yatsenko revealed details of an AI assistant, a move into mortgages and a further rollout of ATMs at an event to celebrate Revolut hitting the 50 million customer mark. Storonsky said: <blockquote> "2024 has been a significant year for Revolut, with millions of new accounts opened and innovative products launched across our markets. 2025 will be bigger and better." </blockquote> Coming in 2025 will be a Revolut AI-powered assistant, an in-app bot which will help guide customers towards “smarter money habits, enhanced financial decision-making and streamlined admin”. Revolut says the bot will be gradually rolled out in 2025. The London-headquartered fintech is also moving into mortgages, a potentially lucrative revenue stream, kicking off with a digital mortgage product in Lithuania, followed by Ireland and France in 2025, and Revolut said it’s also looking at offering overdrafts. Revolut, which is primarily known as a challenger bank, will also begin rolling out branded ATMs that dispense cash and cards in Spain early next year. The ATMs have already been installed in airports including Milan, Rome, Porto and could soon come to the UK, according to UKTN. Meanwhile, Revolut's business offering, Revolut Business, will bring its first credit product to Europe while Revolut Business also plans to help companies manage their restaurant and store operations with Revolut Kiosk. It said it also plans to push its Revolut Pay offering with multiple payment methods including, in future, Buy Now Pay Later. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/22/revolut-says-2025-bigger-and-better-as-it-announces-tray-of-new-products/</guid> <dc:creator><![CDATA[John Reynolds]]></dc:creator> <pubDate>Fri, 22 Nov 2024 15:55:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/22/revolut-says-2025-bigger-and-better-as-it-announces-tray-of-new-products/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/smart-17.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/smart-17_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[Belgian unicorn Odoo raises €500M, Northvolt files for Chapter 11, and OASYS NOW wins €1M in Slush 100]]></title> <category><![CDATA[General]]></category> <link>https://tech.eu/2024/11/22/belgian-unicorn-odoo-raises-500m-northvolt-files-for-chapter-11-and-oasys-now-wins-1m-in-slush-100/</link> <comments>https://tech.eu/2024/11/22/belgian-unicorn-odoo-raises-500m-northvolt-files-for-chapter-11-and-oasys-now-wins-1m-in-slush-100/#comments</comments> <description><![CDATA[ This week we tracked more than 95 tech funding deals worth over €2.5 billion, and over 15 exits, M&A transactions, rumours, and related news stories across Europe. In addition to this week's top ...]]></description> <content:encoded><![CDATA[ This week we tracked more than 95 tech funding deals worth over €2.5 billion, and over 15 exits, M&A transactions, rumours, and related news stories across Europe. In addition to this week's top financials, we've also indexed the most important/industry-related news items you need to know about. If email is more your thing, you can always <a href="https://tech.eu/subscribe-to-newsletter/" target="_blank">subscribe to our newsletter</a> and receive a more robust version of this round-up delivered to your inbox. Either way, let's get you up to speed. <hr> <h2 dir="ltr">💸 Notable and big funding rounds</h2> 🇧🇪 Odoo <a href="https://tech.eu/2024/11/21/belgian-unicorn-odoo-raises-eur500-m-reaching-a-eur5b-valuation/" target="_blank">raises</a> €500M, reaching a €5B valuation 🇪🇸 seQura <a href="https://elreferente.es/inversiones/sequra-levanta-una-ronda-de-410-millones-de-euros-para-escalar-a-estados-unidos-alemania-y-reino-unido/" target="_blank">raises</a> a round of €410M 🇬🇧 New unicorn Lighthouse <a href="https://tech.eu/2024/11/21/new-unicorn-lighthouse-secures-370m-series-c-for-travel-analytics/" target="_blank">secures</a> $370M Series C for travel analytics 🇩🇪 The Exploration Company <a href="https://tech.eu/2024/11/18/the-exploration-company-raises-160m-series-b-for-reusable-spacecraft-development/" target="_blank">raises</a> $160M Series B for reusable spacecraft development <hr> <h2 dir="ltr">🫱🏽‍🫲🏻 Noteworthy acquisitions and mergers</h2> 🇫🇷 Adzuna strengthens presence in North America and Europe with Seiza <a href="https://tech.eu/2024/11/18/adzuna-strengthens-presence-in-north-america-and-europe-with-seiza-acquisition/" target="_blank">acquisition</a> 🇬🇧 PayPal-backed Modulr <a href="https://tech.eu/2024/11/19/paypal-backed-modulr-snaps-up-first-acquisition/" target="_blank">snaps up</a> first acquisition 🇹🇷 Game District <a href="https://webrazzi.com/2024/11/19/game-district-yerli-mobil-oyun-girisimi-gleam-games-in-cogunluk-hissesini-satin-aldi/" target="_blank">acquires</a> majority stake in local mobile gaming startup Gleam Games 🇫🇷 Halma plc <a href="https://businesscloud.co.uk/news/halma-plc-makes-42m-swoop-for-french-leader/" target="_blank">makes</a> £42 million swoop for French leader <hr> <h2 dir="ltr">🚀 Interesting moves from investors</h2> 💸 500 Emerging Europe <a href="https://tech.eu/2024/11/18/500-emerging-europe-transforms-into-e2vc-new-era-for-global-focused-startups/" target="_blank">transforms</a> into e2vc: a new era for global-focused startups 🤖 BSV Ventures <a href="https://tech.eu/2024/11/22/bsv-ventures-closes-eur15m-fund-for-pre-seed-and-seed-stage-investments/" target="_blank">closes</a> €15M Fund for Pre-Seed and Seed investments 🌳 Move Energy Fund I <a href="https://tech.eu/2024/11/21/eif-commits-eur35m-to-move-energy-fund-i-to-accelerate-the-energy-transition/" target="_blank">secures</a> €35M from EIF to accelerate energy transition <hr> <h2 dir="ltr">🗞️ In other (important) news</h2> 🔋 Northvolt <a href="https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/" target="_blank">files for Chapter 11</a>: A blow to Europe's independence from Chinese battery manufacturing 💯 OASYS NOW <a href="https://tech.eu/2024/11/21/oasys-now-wins-eur1m-in-slush-100-competition/" target="_blank">wins €1M</a> in Slush 100 competition 🇪🇺 Deep Tech Momentum <a href="https://tech.eu/2024/11/18/deep-tech-momentum-launches-pan-european-deeptech-marketplace/" target="_blank">launches</a> pan-European deeptech marketplace ☀️ Good Energy and GRYD <a href="https://tech.eu/2024/11/18/good-energy-and-gryd-agree-power-purchase-to-pilot-zero-cost-solar/" target="_blank">make deal</a> to boost solar power <hr> <h2 dir="ltr">📡 Recommended reads and listens</h2> 🤖 Atomico's <a href="https://tech.eu/2024/11/20/atomicos-state-of-european-tech-a-decade-of-growth-and-uture-predictions/" target="_blank">State of European Tech</a>: A decade of growth and innovation 🏭 Unlocking t<a href="https://tech.eu/2024/11/20/unlocking-the-power-of-manufacturing-data-with-cloee/" target="_blank">he power</a> of manufacturing data with CloEE 🇫🇮 Happy Plant Protein <a href="https://tech.eu/2024/11/18/happy-plant-protein-bags-1-8m-to-disrupt-plant-protein-market-with-local-low-cost-production/" target="_blank">bags</a> €1.8M to disrupt plant protein market with local, low-cost production 🇪🇺 European <a href="https://tech.eu/2024/11/21/european-deeptech-companies-shaping-the-future-of-innovation/" target="_blank">deeptech companies</a>: Shaping the future of innovation 🔐 Remote and Kota <a href="https://tech.eu/2024/11/19/remote-and-kota-team-up-disrupting-global-benefits-with-embedded-employee-insurance/" target="_blank">team up</a>: disrupting global benefits with embedded employee insurance <hr> <h2 dir="ltr">🔭 European tech startups to watch</h2> 🇭🇷 SaaS startup Bitreport <a href="https://tech.eu/2024/11/19/croatian-saas-startup-bitreport-raises-eur300000-for-chain-store-management/" target="_blank">raises</a> €300,000 for chain store management 🇸🇰 SuperScale <a href="https://tech.eu/2024/11/19/superscale-raises-1-2m-for-gaming-analytics-platform/" target="_blank">raises</a> $1.2M for gaming analytics platform 🇳🇱 Blockchain ticketing startup Celebratix<a href="https://tech.eu/2024/11/20/dutch-blockchain-ticketing-startup-celebratix-secures-eur11m-funding/" target="_blank"> secures</a> €1.1M 🇫🇮 Serviceform <a href="https://tech.eu/2024/11/19/serviceform-secures-2-45m-for-sme-marketing-suite/" target="_blank">secures</a> €2.45M for SME marketing suite 🇬🇧 MannyAI <a href="https://tech.eu/2024/11/21/mannyai-raises-eur15-m-to-reduce-over-production-in-the-fashion-industry/" target="_blank">raises</a> €1.5M to reduce overproduction in the fashion industry ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/22/belgian-unicorn-odoo-raises-500m-northvolt-files-for-chapter-11-and-oasys-now-wins-1m-in-slush-100/</guid> <dc:creator><![CDATA[Cate Lawrence]]></dc:creator> <pubDate>Fri, 22 Nov 2024 14:36:12 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/22/belgian-unicorn-odoo-raises-500m-northvolt-files-for-chapter-11-and-oasys-now-wins-1m-in-slush-100/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/01/this-week-in-european-tech-292.png" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/01/this-week-in-european-tech-292_240x135.png" width="240" height="135" /> </item> <item> <title><![CDATA[METRON secures €12.5M for industrial energy management]]></title> <category><![CDATA[Energy]]></category> <link>https://tech.eu/2024/11/22/metron-secures-12-5m-for-industrial-energy-management/</link> <comments>https://tech.eu/2024/11/22/metron-secures-12-5m-for-industrial-energy-management/#comments</comments> <description><![CDATA[METRON, a management provider for energy consumption and reduced carbon emissions, has raised €12.5M. Led by the German GET Fund, a highly reputed venture capital investor in the energy sector, alongs...]]></description> <content:encoded><![CDATA[<a href="https://www.metron.energy/" target="_blank">METRON</a>, a management provider for energy consumption and reduced carbon emissions, has raised €12.5M. Led by the German GET Fund, a highly reputed venture capital investor in the energy sector, alongside long-standing investors (BNP Paribas, Climate Investment and Vertigo) who have renewed their confidence in the French cleantech company. The investment of the GET Funds coincides with METRON’s market entry in Germany, Industrial decarbonization has become strategic for governments around the world. This round will enable the French scaleup to reinforce its development strategy, based on the acquisition of major international accounts - such as Danone, Safran and Arcelor Mittal - and forge significant alliances with international players such as Fujitsu, Thailand's PTT oil company, Dalkia in France. METRON focused its development on Asia very early on, and opened its first office in Singapore in 2018. Now present in Malaysia, Thailand, Singapore and Indonesia, Its expansion in the region has been made possible by successful deployments with industrial leaders in key Asia-Pacific markets. It also covers the Americas with teams in Mexico and Colombia, with some 15 sites to be deployed across the continent by 2025. "We are proud to join this investment round in METRON, a company making a significant impact on industrial decarbonization. Partnering with our esteemed co-investors - Vertigo, BNP Paribas, and Climate Investment - we look forward to supporting METRON as it scales its innovative solutions and reinforces its leadership in sustainable energy management." said Martin Kröner, Partner at GET Fund. “We are delighted by the renewed confidence of our historic investors, and by the arrival of the German GET Fund,” added METRON CEO Vincent Sciandra. “Thanks to this round of financing, we will be able to accelerate our growth strategy and consolidate our trajectory towards profitability by 2025. This support confirms the relevance of our international deployment, enabling us to provide global industrial groups with an energy management solution for their sites anywhere in the world, thanks to our regional presence and in-depth knowledge of local contexts. After 10 years, the decarbonization market is experiencing unprecedented momentum, but our ambition remains intact: to support our customers in transforming their stated decarbonization objectives into measurable reality at each of their plants.” ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/22/metron-secures-12-5m-for-industrial-energy-management/</guid> <dc:creator><![CDATA[Lucy Adams]]></dc:creator> <pubDate>Fri, 22 Nov 2024 13:00:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/22/metron-secures-12-5m-for-industrial-energy-management/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/metron-546.png" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/metron-546_240x135.png" width="240" height="135" /> </item> <item> <title><![CDATA[CIVO partners with Deep Green to strengthen UK data sovereignty]]></title> <category><![CDATA[Climatetech]]></category> <link>https://tech.eu/2024/11/22/civo-partners-with-deep-green-to-strengthen-uk-data-sovereignty/</link> <comments>https://tech.eu/2024/11/22/civo-partners-with-deep-green-to-strengthen-uk-data-sovereignty/#comments</comments> <description><![CDATA[Civo, a cloud computing startup, has announced the launch of its second UK Cloud Region, LON2, in partnership with Deep Green data centre provider Deep Green. Based in Swindon, Berkshire, this new Clo...]]></description> <content:encoded><![CDATA[<a href="https://www.civo.com/" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://www.civo.com/&source=gmail&ust=1732352705329000&usg=AOvVaw0727NgL9DnZ8rbQW8yvIgx">Civo</a>, a cloud computing startup, has announced the launch of its second UK Cloud Region, LON2, in partnership with Deep Green data centre provider <a href="https://deepgreen.energy/" target="_blank">Deep Green</a>. Based in Swindon, Berkshire, this new Cloud region operates on 100 percent renewable energy. Deep Green, Civo’s long-standing partner, selected the Carbon-Z site for its exceptional environmental practices. This upgrade means customers can now handle more intensive and complex workloads, such as AI and ML applications, with greater efficiency and reliability, and data that remains within national borders. Mark Boost, CEO and Co-Founder of Civo said: “Sustainability is at the heart of our mission at Civo. As demand for cloud solutions surges, we are committed to ensuring that the benefits of this technology don’t come at the expense of our environment. It’s a pleasure to be working alongside Deep Green, a partner we have trusted for several years to deliver on our environmental commitment. “With the introduction of LON2, we’re taking an important step toward building a more responsible and environmentally conscious cloud industry. Together with Deep Green, we’re demonstrating that cloud innovation can, and should, be built on a foundation of sustainability.” Mark Bjornsgaard, Founder and CEO of Deep Green, added: “We’re all well aware of the environmental footprint left by the tech industry. By partnering with Civo to launch LON2, we’re on a mission to change the narrative. This collaboration is about proving that innovation and sustainability can go hand in hand. With 100% renewable energy powering LON2 and a shared commitment to exploring further eco-friendly solutions, we’re making meaningful strides towards a greener future for cloud computing.” ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/22/civo-partners-with-deep-green-to-strengthen-uk-data-sovereignty/</guid> <dc:creator><![CDATA[Lucy Adams]]></dc:creator> <pubDate>Fri, 22 Nov 2024 10:15:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/22/civo-partners-with-deep-green-to-strengthen-uk-data-sovereignty/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/homepage-social-197.png" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/homepage-social-197_240x135.png" width="240" height="135" /> </item> <item> <title><![CDATA[Northvolt files for Chapter 11: A blow to Europe's independence from Chinese battery manufacturing]]></title> <category><![CDATA[Energy]]></category> <category><![CDATA[Mobility]]></category> <link>https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/</link> <comments>https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/#comments</comments> <description><![CDATA[Swedish battery cell marker for EVs Northvolt has filed for Chapter 11 bankruptcy protection in the US, placing a blow in Europe’s ambition to divest its dependency on Chinese battery manufacturing. C...]]></description> <content:encoded><![CDATA[Swedish battery cell marker for EVs <a href="https://tech.eu/2024/10/01/northvolt-vc-backer-optimistic-about-its-future-despite-laying-off-1600-workers/" target="_blank">Northvolt</a> has filed for Chapter 11 bankruptcy protection in the US, placing a blow in Europe’s ambition to divest its dependency on Chinese battery manufacturing. Chapter 11 provides the company with the financing to focus on operational improvements and supporting customers, while allowing for restructuring, reorganisation, and fundraising to secure a long-term competitive positioning. <a href="https://tech.eu/2024/01/16/largest-ever-green-loan-in-europe-northvolt-raises-5-b-for-expansion/" target="_blank">Northvolt Germany</a> and Northvolt North America, subsidiaries of Northvolt AB with projects in Germany and Canada, are financed separately and will continue to operate as usual outside of the Chapter 11 process as key parts of Northvolt’s strategic positioning. The company is also announcing that Peter Carlsson will take on a role as Senior Advisor and step aside from his role as CEO. He also remains a Member of the Board. Northvolt was founded in 2016 by two former Tesla executives, Peter Carlsson and Paolo Cerruti. It raised over $13.8 billion. However, it has struggled against falling demand for electric cars and fierce competition from Chinese manufacturers. It laid off 1,600 workers in September and was found earlier this month to fall short of its production goal of 100,000 cells per week, only managing to ship around 20,000. It lost a €2 billion contract with BMW in June, Northvolt Ett, the company’s flagship battery gigafactory in Skellefteå, Sweden, and Northvolt Labs in Västerås, Sweden will remain operational however, Northvolt suspected production at one of the two manufacturing buildings at the Skelleftea plant in late October, cutting costs by ending its 24/7 production cycle earlier this month. According to Northvolt, the company has enough cash for a week of operations but has secured $100 million in new financing for the bankruptcy process. Operations will continue as normal during the bankruptcy. The company expects to complete the restructuring by the first quarter of 2025. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/</guid> <dc:creator><![CDATA[Cate Lawrence]]></dc:creator> <pubDate>Fri, 22 Nov 2024 10:02:14 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/22/a-blow-to-europes-independence-from-chinese-battery-manufacturing/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/download-10-692.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/download-10-692_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[BSV Ventures closes €15M Fund for Pre-Seed and Seed investments]]></title> <category><![CDATA[VC Fund]]></category> <link>https://tech.eu/2024/11/22/bsv-ventures-closes-eur15m-fund-for-pre-seed-and-seed-stage-investments/</link> <comments>https://tech.eu/2024/11/22/bsv-ventures-closes-eur15m-fund-for-pre-seed-and-seed-stage-investments/#comments</comments> <description><![CDATA[Pre-Seed and Seed stage investors BSV Ventures has closed a €15 million fund with the inclusion of strategic Limited Partners (LPs) such as the NATO Innovation Fund (NIF), Lithuania’s ILTE fund under ...]]></description> <content:encoded><![CDATA[Pre-Seed and Seed stage investors <a href="https://www.bsv.ventures" target="_blank">BSV Ventures</a> has closed a €15 million fund with the inclusion of strategic Limited Partners (LPs) such as the <a href="https://tech.eu/2024/07/26/fractile-secures-15m-funding-for-better-hardware-for-ai-inference/" target="_blank">NATO Innovation Fund</a> (NIF), Lithuania’s ILTE fund under the Accelerator 2 programme, and private investors from across Europe. BSV Ventures invests in startups at the “Beyond Scientific Validation” stage, where advanced research transitions into solutions on the path to becoming commercially available at scale. With offices in Lithuania, Estonia and Finland, BSV Ventures is focused on enabling early-stage innovators from the Baltics and EU to build and internationally scale their businesses by leveraging technologies in critical, strategic scientific and technological domains from mechatronics and biotech to functional genomics, future of computing, space technologies, AI, and beyond. “Over the past two years, we’ve scouted and supported founders contributing to the next wave of global innovation — ranging from hydrogen and hardware to AI-driven medical devices and resilient connectivity solutions that enable comms even in the most challenging environments,” said Andrius Milinavičius, Managing Partner at BSV Ventures. <blockquote> “We take NIF’s trust as recognition of our thesis that European, specifically Baltic, Nordic, and CEE DeepTech has massive potential.” </blockquote> The Baltics’ unique geopolitical position and high standard of education create a unique innovation environment. According to Erik Bhullar, General Partner at BSV Ventures, Baltic founders innovate with urgency driven by high-stakes realities. <blockquote> “Look at Ukraine —the pace of innovation on the front lines is faster and more focused than anywhere else in Europe because they understand that technological edge is a matter of survival.” </blockquote> He asserts that deeptech requires a different mindset: <blockquote> “It’s a proving ground, not a playground. The innovators shaping our future need capital partners who understand the unique challenges in their journey ahead. It takes greater competence and foresight at the earlier stage you dare to venture — because selection and effective support are crucial.” </blockquote> Chris O’Connor, Partner at NATO Innovation Fund, sees the region as of great strategic importance to the security and resilience of the Alliance: <blockquote> “Our investment in BSV Ventures reflects confidence in their strong leadership, complementary expertise, and proven commitment to transforming the Baltics into a global hub for DeepTech and dual-use innovation - essential for advancing European sovereignty.” </blockquote> Lead image: BSV Ventures. Photo: uncredited ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/22/bsv-ventures-closes-eur15m-fund-for-pre-seed-and-seed-stage-investments/</guid> <dc:creator><![CDATA[Cate Lawrence]]></dc:creator> <pubDate>Fri, 22 Nov 2024 09:14:49 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/22/bsv-ventures-closes-eur15m-fund-for-pre-seed-and-seed-stage-investments/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/download-9-986.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/download-9-986_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[B'ZEOS raises Seed funding for seaweed-based packaging]]></title> <category><![CDATA[Sustainability]]></category> <link>https://tech.eu/2024/11/22/b-zeos-raises-seed-funding-for-seaweed-based-packaging/</link> <comments>https://tech.eu/2024/11/22/b-zeos-raises-seed-funding-for-seaweed-based-packaging/#comments</comments> <description><![CDATA[Barcelona bio-based packaging startup B’ZEOS has closed its seed round. B'ZEOS offers sustainable, home-compostable, and bio-digestible packaging solutions made from seaweed extracts to combat plastic...]]></description> <content:encoded><![CDATA[Barcelona bio-based packaging startup <a href="https://www.bzeos.com/" target="_blank">B’ZEOS</a> has closed its seed round. B'ZEOS offers sustainable, home-compostable, and bio-digestible packaging solutions made from seaweed extracts to combat plastic pollution. The packaging is fully compatible with existing packaging production lines. Seaweed’s rapid growth rate, ability to sequester CO2, and lack of dependence on land or fresh water, without releasing microplastics, make it an ideal raw material for sustainable packaging. The viability and scalability of B’ZEOS’ packaging has been validated in five paid pilots to date, in collaboration with partners such as Nestlé and other industry players. <a href="https://tech.eu/2024/11/04/faber-launches-60m-deeptech-fund-for-iberian-startups/" target="_blank">Faber</a> led the funding with participation from ICIG Ventures, the venture capital unit of International Chemical Investors Group (ICIG). The strategic collaboration with ICIG, a privately owned industrial group with an interest in biotechnology and novel materials, will enable B’ZEOS to fine tune its products and increase production by leveraging ICIG’s expertise in compounds. According to Guy Maurice, founder and "SeaEO" of B’ZEOS, the company is not just focused on developing an eco-friendly solution — its providing an industry-ready, scalable alternative for packaging manufacturers globally. According to Dr Pelin Yilmaz, Investment Director at ICIG Ventures: <blockquote> “Our partnership with B’ZEOS, complemented by the expertise of our compounding platform, allows us to transition towards fossil-free, compostable packaging. Their industry expertise enables them to understand the sustainability needs and requirements of the packaging sector, creating solutions that are both robust and versatile.” </blockquote> With the funding, B’ZEOS will expand its technology readiness level. Lead image: B’ZEOS. Photo: uncredited. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/22/b-zeos-raises-seed-funding-for-seaweed-based-packaging/</guid> <dc:creator><![CDATA[Cate Lawrence]]></dc:creator> <pubDate>Fri, 22 Nov 2024 08:30:43 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/22/b-zeos-raises-seed-funding-for-seaweed-based-packaging/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/download-8-868.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/download-8-868_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[OASYS NOW wins €1M in Slush 100 competition]]></title> <category><![CDATA[Medtech]]></category> <link>https://tech.eu/2024/11/21/oasys-now-wins-eur1m-in-slush-100-competition/</link> <comments>https://tech.eu/2024/11/21/oasys-now-wins-eur1m-in-slush-100-competition/#comments</comments> <description><![CDATA[I've spent the last few days at Slush in Helsinki. There's snow and lots of amazing startups — and, of course, the infamous Slush 100 startup competition, where startups compete for a cool €1 million ...]]></description> <content:encoded><![CDATA[I've spent the last few days at Slush in Helsinki. There's snow and lots of amazing startups — and, of course, the infamous Slush 100 startup competition, where startups compete for a cool €1 million in funding. Today, Tech.eu was granted an exclusive interview with OASYS NOW, the winner of <a href="https://tech.eu/2023/12/01/faircado-wins-eur1-million-in-slush-100/" target="_blank">Slush 100</a>. Netherlands startup OASYS NOW is on a mission to make personalised healthcare and precision medicine accessible to all. The company is currently focused on cardiology, rare diseases, and multiple chronic diseases. It has developed an AI-powered clinical trial patient identification and recruitment platform for hospitals, doctors, and research nurses who find patients eligible for medical research studies. It meta-crawls research trial criteria and provides healthcare providers with checklists that can be cross-matched with EHRs to find trial options. This automates a large chunk of the time spent trawling through research eligibility criteria for individual studies. Oasys Now will go on to secure an equity investment of €1,000,000 from <a href="https://tech.eu/2024/11/18/goodstack-secures-28m-from-general-catalyst/" target="_blank">General Catalyst</a> and <a href="https://tech.eu/2024/11/04/plato-raises-65m-for-ai-based-erp-automation-platform/" target="_blank">Cherry Ventures</a>. Cherry Ventures, Europe’s leading early-stage VC guided by its “founders first” ethos, joins as a Slush 100 partner for the first time this year. General Catalyst, a returning partner since 2022, is renowned for its commitment to visionary founders and long-term growth. Last year’s winner, <a href="https://tech.eu/2023/12/01/faircado-wins-eur1-million-in-slush-100/" target="_blank">Faircado</a>, has since gone on to <a href="https://tech.eu/2024/05/29/faircado-raises-eur3m-for-ai-powered-resale-shopping-extension/" target="_blank">raise €3 million</a> - exemplifying the transformative potential of this award. I spoke to OASYS NOW co-founders, CEO Nima Salami and CTO Sara Okhuijsen. You can also check out our <a href="https://tech.eu/2024/01/04/oasys-now-pioneering-patient-centric-health-solutions-for-rare-diseases/" target="_blank">earlier</a> interviews with <a href="https://tech.eu/2024/06/24/from-months-to-minutes-oasys-now-streamlines-patient-recruitment-for-clinical-trials/" target="_blank">OASYS NOW</a> CEO Nima Salami. <h2>Research participant shortages hamper medical innovation</h2> When it comes to new modes and healthcare treatment and drug discovery, many innovations are thwarted in the early stages. Not due to the science but a lack of research participants. According to Salami, around 80 per cent of trials fail to meet the initial enrollment target and timeline, and these delays can result in lost revenue of up to $8 million per day for drug-developing companies. OASYS NOW is building the EU's first AI-powered Patient Recruitment platform for Clinical Trials. It consists of two main products: <ol> <li>GRIP app: This app empowers individuals to take control of their health data. Users can gain personal health insights and discover relevant clinical trials, accelerating access to treatments.</li> <li>ELaiGIBLE Platform: This platform streamlines the process of identifying eligible patient cohorts for clinical trials, reducing the time from months to minutes for trial sites (hospitals and clinics) and Clinical Research Officers (CROs). Health professionals can connect with multiple clinical trial databases, and identify relevant trial options with the click of a button. Health data is automatically matched to clinical trial eligibility criteria, so their patients get personalised matches.</li> </ol> <h2>From heart disease to immunology</h2> The company has expanded its reach from primarily heart conditions to brain-related diseases such as Alzheimer's, Parkinson's, and Dementia as well as immunology. Okhuijsen notes that "The technology is very easy to adapt to different therapeutic areas. So we're just identifying where the most needs are and which clients can quickly adopt our technology." <h2>Making new tech accessible to healthcare providers is key</h2> Gaining traction in the healthcare sector is no easy task. OASYS NOW patient-centric üprivacy design approach has attracted interest from healthcare professionals. Okhuijsen asserts that one reason healthcare has been predominantly hesitant to adopt new technology is that "they weren't surrounded by people who could tell them what is possible now. So we go where they are and share with them through public lectures and workshops. This also gives people names and faces to the technology. They get to know us and see how we develop and evolve the tech over time. Research recruiters and staff well receive the AI assistant because it's very explainable. According to Okhuijsen: <blockquote> "Our algorithm, while seemingly complex, is designed to be user-friendly. It not only processes data but also provides clear explanations for its decisions. This transparency empowers end-users to agree or disagree with the algorithm's recommendations and provide valuable feedback. This approach contrasts sharply with traditional methods that rely on research nurses with advanced data science skills to write complex queries. Our algorithm simplifies the process, making it accessible to a wider range of users." </blockquote> <h2>The value of privacy by design</h2> OASYS NOW's technologies are built compliant-by-design and are thus fully GDPR compliant. An external party continuously monitors its ISO27001 compliance. According to Salami, privacy-first a choice. <blockquote> "So it's transparency over the data you use and giving people a choice over how it should be used. We use the best data security possible to ensure the least amount of data is used so that it's not used for purposes outside those agreed upon." </blockquote> The company is also developing a third product that will enable genetic researchers worldwide to collaborate on large data sets without moving the data. Salami shared: <blockquote> "Every researcher, no matter where they are in the world, can learn from other researchers' data somewhere else. Without that data having to move. Moving data is expensive, but when you move data, you lose control over it." </blockquote> The company is tackling this through confidential federated learning with extra layers of security whereby the data is encrypted at rest and in transit." This approach has attracted interest from NVIDIA and Google. According to Salami, it gives the team validation that "by prioritising privacy first, you can come up with novel ideas of how things can be done, which wasn't possible before. Hot on the heels of their win, the team at OASYS Now is full of praise for Slush. Okhuijsen notes that the competition is a very public VC pipeline. "The top 20 startups go through a due diligence process which includes interviews with the VC patterns. So, it's a great funnel in a very professional, publicly known competition. The funds will assist with expanding the team, especially engineers and salespeople, and will also help finance compute power. <a href="https://tech.eu/2024/06/24/from-months-to-minutes-oasys-now-streamlines-patient-recruitment-for-clinical-trials/" target="_blank">Runners-up were women's healthcare science company </a><a href="https://www.mohanahealth.com/" target="_blank">Mohana</a> (Canada) and AI-driven accessibility compliance platform <a href="https://www.deva11y.com/" target="_blank">Dev Ally</a> — stay tuned for an interview with Dev Ally co-founders Cormac Chisholm, CEO, and Patrick Guiney-Fox COO, in the next couple of weeks. Lead image: OASYS NOW by Petri Anttila. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/21/oasys-now-wins-eur1m-in-slush-100-competition/</guid> <dc:creator><![CDATA[Cate Lawrence]]></dc:creator> <pubDate>Thu, 21 Nov 2024 17:28:00 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/21/oasys-now-wins-eur1m-in-slush-100-competition/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/download-7-1-219.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/download-7-1-219_240x135.jpg" width="240" height="135" /> </item> <item> <title><![CDATA[MannyAI Raises €1.5 M to reduce overproduction in the fashion industry]]></title> <category><![CDATA[Fashiontech]]></category> <category><![CDATA[Artificial Intelligence]]></category> <link>https://tech.eu/2024/11/21/mannyai-raises-eur15-m-to-reduce-over-production-in-the-fashion-industry/</link> <comments>https://tech.eu/2024/11/21/mannyai-raises-eur15-m-to-reduce-over-production-in-the-fashion-industry/#comments</comments> <description><![CDATA[Fashiontech startup MannyAI has raised a €1.5 million funding round, including a €240,000 IUK grant and a €1.26 million Pre-Seed investment led by Dreamcraft Ventures. In global garment production up ...]]></description> <content:encoded><![CDATA[Fashiontech startup <a href="https://www.manny-ai.com/" target="_blank">MannyAI</a> has raised a €1.5 million funding round, including a €240,000 IUK grant and a €1.26 million Pre-Seed investment led by Dreamcraft Ventures. In global garment production up to 40 per cent of items often remain unsold due to misaligned demand. Traditionally, brands have managed inventory risk through markdowns and bulk purchasing, leading to significant overproduction. MannyAI offers an innovative alternative: a test-and-reorder model that enables brands and their trusted suppliers to collaborate seamlessly using advanced AI for short, responsive order cycles. By shifting to shorter cycles, brands can minimise the volume of finished goods required from the outset. The company is founded by ex-manufacturer turned tech entrepreneur Shruti Grover and data scientist Simon Johnson. In her early twenties, Grover gained hands-on experience by establishing and operating temporary factories on construction sites across India, producing structural stone and building facades. She went on to set up a cutting-edge manufacturing facility in Noida, Uttar Pradesh, equipped with advanced water-jet cutters and 5-axis CNC machines. Grover emphasises: <blockquote> “While many fashiontech investments focus on expensive machinery, our experience in factory operations has given us a unique perspective. It’s standard software — automating paperwork, tracking fabric, and using AI for production and capacity planning — that can actually reduce overheads and make small-batch production profitable for European factories, which already operate at high efficiency.” </blockquote> MannyAI’s initial offerings include AI-powered tools for cost negotiation, real-time order allocation, and dynamic capacity management tailored to each factory’s capabilities.They enable brands to meet real-time demand and optimise costs for ultra-fast lead times. MannyAI’s approach aligns with the EU’s policy momentum to address overproduction and overconsumption in fashion. Significantly, unlike traditional on-demand manufacturing, MannyAI’s business model is designed to empower existing factories without the need for capital-intensive equipment. <a href="https://tech.eu/2024/06/03/dreamcraft-ventures-launches-66m-fund-for-saas-and-fintech/" target="_blank">Dreamcraft Ventures</a> led the funding with participation from Alante Capital, Plug and Play EMEA, <a href="https://tech.eu/2024/05/16/carbon13-invests-in-6-climatetech-startups-through-its-venture-launchpad/" target="_blank">Carbon13</a>, Ventures Together, and sourcing giant PDS Ventures. According to Mathilde Lyet, Principal at Dreamcraft, increasing regulatory pressures and a shift toward nearshoring, means this innovation is well-timed to help brands reduce waste and improve profitability in a rapidly evolving industry.” With three factories across Europe currently testing MannyAI’s technology, the company is rapidly operationalising its model for real-world applications in the apparel and footwear industry. The funds will enable MannyAI to transform traditional factories into agile, AI-driven production hubs, supporting brands in reducing their total production volumes while making small-batch production profitable. Lead image: MannyAI. Photo: uncredited. ]]></content:encoded> <guid isPermaLink="false">https://tech.eu/2024/11/21/mannyai-raises-eur15-m-to-reduce-over-production-in-the-fashion-industry/</guid> <dc:creator><![CDATA[Cate Lawrence]]></dc:creator> <pubDate>Thu, 21 Nov 2024 14:25:05 +0000</pubDate> <wfw:commentRss>https://tech.eu/2024/11/21/mannyai-raises-eur15-m-to-reduce-over-production-in-the-fashion-industry/feed</wfw:commentRss> <slash:comments>0</slash:comments> <media:content url="https://cdn.tech.eu/uploads/2024/11/download-6-151.jpg" width="240" height="135" medium="image" /> <media:thumbnail url="https://cdn.tech.eu/uploads/2024/11/download-6-151_240x135.jpg" width="240" height="135" /> </item> </channel> </rss>