Category: Startups

• PhotonVentures, a deep-tech venture capital fund based in the Netherlands, closes second fundraising round at €75 million
• Fund focuses on startups and scale-ups developing solutions with photonic chips for data transmission, health diagnostics, and smart sensor systems
• Recent close strengthens PhotonVentures’ position in the integrated photonics semiconductor industry
• Fund aims to raise over €100 million by 2024 for Seed to Series A investments
• Strategic support from Dutch National Growth Fund and European Chips Act to drive growth of deep-tech frontrunners in the European photonics ecosystem

PhotonVentures Secures €75 Million in Second Fundraising Round

In the bustling tech venture capital scene, PhotonVentures, a deep-tech venture capital fund based in the Netherlands, has made waves by successfully closing its second fundraising round, amassing a substantial €75 million. Read more

• South African startup RNR secures $640k in funding for breakdown management services with support from HAVAÍC
• Founded in 2019 by Wayne and Michelle Witherspoon, RNR offers on-demand breakdown management and analytics
• RNR leverages a network of certified mechanics and advanced technology to provide efficient breakdown support
• The funding will help RNR expand its team, enhance its IT platform, and grow operations in Southern Africa
• RNR has experienced significant growth, with a notable increase in monthly breakdown volume and income

Revolutionizing Breakdown Management: South African Startup RNR Secures $640k in Funding

In the dynamic landscape of South Africa’s startup scene, RNR, a breakthrough breakdown management startup, has made significant waves by securing ZAR12 million (US$640,000) in funding to propel its operations across Southern Africa. Read more

• OTB Ventures secures €170 million from NATO Innovation Fund to boost European deep tech
• Investment backed by NATO Innovation Fund, European Investment Fund, CEE entrepreneurs, and notable Limited Partners
• OTB Ventures specializes in deep tech investments across space technology, AI, fintech, and cybersecurity
• NATO Innovation Fund recognizes OTB Ventures’ alignment with its mission of investing in emerging technologies
• OTB Ventures plans to allocate new fund to Series A investments, with focus on supporting disruptive deep tech startups in Europe

European Deep Tech Investment Landscape

In a significant development for the European deep tech ecosystem, OTB Ventures, a prominent venture capital firm hailing from Poland, has recently secured a substantial €170 million investment. Read more

• Tech startup Hatch AI raises $3 million in successful seed funding round, propelled by Demo Day and notable investors.
• Hatch AI provides a Giving Intelligence Platform for nonprofits, offering detailed donor profiles and personalized engagement strategies.
• Founder Moshe Hecht identified a crucial fundraising gap and launched Hatch in 2021, leveraging data to engage donors effectively.
• Hatch has partnered with 150 nonprofits, including Volunteers of America and Texas A&M University-Commerce, increasing donations significantly.

• Top 10 funding deals in Q1 for Pacific Northwest startups include ProfoundBio, EigenLayer, Pandion, Oleria, Interlune, Betadapp, Recurrent, Avante, Symbiosys, and Digs
• Startup fundraising activity in the first quarter of 2024 across the U.S. remained stagnant due to market factors like higher interest rates and inflation
• Funding to tech startups in Seattle and the Pacific Northwest decreased by 30% from the previous quarter but increased slightly year-over-year
• Some startups faced challenges in meeting investor expectations, while others successfully raised substantial rounds
• Key players in the funding rounds included biotech, blockchain, e-commerce, cybersecurity, space exploration, fraud detection, and advertising tech startups

ProfoundBio Leads the Way with $112 Million in Startup Funding Deals

In the ever-evolving landscape of startup funding deals, the Pacific Northwest has seen its fair share of notable transactions in the first quarter of 2024. Read more

• SunCulture secures $12 million funding to expand solar irrigation solutions in Africa, with support from InfraCo Africa, Savant Group Ltd., Acumen Funds, Reed Hastings, and Eric Schmidt.
• SunCulture aims to deploy 274,000 solar irrigation systems in Kenya and revolutionize farming practices with IoT-enabled solutions.
• Airtel Africa acquires 8.6 million shares from Citigroup as part of a $100 million buyback plan to reduce debt and enhance shareholder value.

• Essex Tech secures $850K in federal funding for campus, program expansion
• Funding secured by Congressman Seth Moulton for infrastructure projects at Essex North Shore Agricultural and Technical School
• Upgrades include Gallant Hall HVAC systems, windows, doors, and new modular building for veteran service animal training center
• Collaboration with Company2Heroes for free veteran training programs
• Focus on expanding vocational education opportunities and adult education programming

Essex Tech Secures Federal Funding for Campus and Program Expansion

Essex Tech recently made headlines with the announcement of securing $850,000 in federal funding for campus and program expansion. Read more

• UK tech funding roundup: Deals from Mimo to Avenir
• £42.4m tech funding tracked this week, 18% decline
• Mimo offers financial tools for SMEs to simplify processes
• Waymap is a navigation app for the visually impaired
• Other deals include Log my Care, Pactio, Veremark, Neurovalens, Clyde Hydrogen

UK Tech Funding Roundup: Exploring the Latest Deals from Mimo to Avenir

In the dynamic landscape of UK tech funding, this week brought forth a diverse array of deals, ranging from financial management platforms to innovative health tech solutions. Read more

• TechIreland’s Startup Funding Review revealed a significant drop in funding for Irish tech start-ups in 2023, falling to €847 million from €1.6 billion in 2021 and €1.3 billion in 2022.
• The decrease in funding was primarily due to a decline in later stage rounds, impacting the reliance on foreign investors for support.
• Despite a record number of 403 tech companies being funded in Ireland, the number of deals over €5 million decreased, with the top 10 investments making up less than 45% of the total.

• Quantonation, a venture capital company specializing in quantum science and deep physics, announced its second fund of €200 million
• Debate exists around the readiness of quantum technologies for market adoption, with investments in quantum computing globally estimated at less than $5 billion
• Quantonation focuses on investing in companies with products and markets in quantum technologies, supporting critical roles for quantum information science
• Quantonation’s approach combines deep tech expertise and a narrow market focus, leading to successful investments in quantum start-ups
• Quantonation’s criteria for investing in quantum companies include real technology innovation, world-class teams, and distinct advantages over existing technologies

Funding Quantum Start-ups: Quantonation’s Vision

In the fast-evolving landscape of quantum technologies, venture capital (VC) companies play a crucial role in fueling innovation and growth. Read more

• Climate tech startup Recykal secures $13 million in pre-Series B funding round from 360 ONE Asset Management Limited, enabling further innovation in technology and products.
• Recykal’s Founder and CEO, Abhay Deshpande, expresses plans for growth and strengthening the company’s position as a sustainability partner.
• The investment allows early-stage investors to exit, with Recykal having raised a total of $35 million to date from various investors.

• Tech Funding Roundup: Q1 2024 focuses on sports tech startups’ funding rounds
• A significant trend in Q1 2024 was the incorporation of gamified elements in fan engagement
• StatusPro received a $20 million investment led by Google Ventures for its VR sports gaming platform
• Other notable funding rounds include Splash, Winible, Basketball Forever, and WIT in the sports betting and fan engagement sectors
• For more details on all Q1 funding rounds, visit the provided URL

Exploring the Latest Tech Funding Roundup in Q1 2024

In the fast-paced world of sports technology, funding rounds play a crucial role in driving innovation and growth. Read more

• MedTech startup Neuronostics secures over £2m in seed funding round led by Ascension Life Fund
• Funding to be used for developing epilepsy diagnosis technology and seeking FDA approval
• Co-founded by Professor John Terry and Dr. Wessel Woldman in 2018, focusing on mathematical and computational methodologies for biomedical systems
• Developing patented biomarker of epilepsy called BioEP to enhance EEG analysis and speed up diagnosis
• Received additional grants from Innovate UK and SBRI Health for further development and feasibility studies

Neuronostics Secures Over £2m in Seed Funding for MedTech Innovation

In the fast-paced world of medical technology (MedTech) startups, securing funding is a crucial step towards bringing innovative healthcare solutions to market. Read more

• Quantonation Ventures achieves first closing of its second early-stage Quantum Tech Fund, Quantonation II, at €70 million.
• The fund aims to invest in 25 companies globally, focusing on Quantum Technologies from pre-seed/seed stages.
• Quantonation Ventures has a successful track record, investing in 27 companies with two exits from its first fund.
• The fund collaborates with quantum venture studios worldwide, including projects in Canada, Italy, Europe, Asia-Pacific, and the US.

• Cornerstone Ventures launches $200 million second fund to support emerging B2B tech startups, focusing on various industries.
• Fund will cater to startups in early growth stages with investments ranging from $5 million to $15 million.
• First fund deployed across 21 portfolio companies, contributing to significant growth and job creation.
• Second fund aims to back ‘Next Generation Enterprise Technologies’ with strategic investments and mentorship.

• WeCare, led by Saad Kassis Mohamed, secures $350,000 funding for lab-grown diamonds to drive innovation and sustainability.
• The funding marks a crucial milestone in advancing research and development efforts in the lab-grown diamond industry.
• WeCare Foundation aims to support growth in the lab-grown diamond market through strategic partnerships and ethical practices.
• The organization evaluates lab-grown diamonds rigorously to ensure market viability and quality while eliminating child labor.

• March 2024 witnessed significant funding of $1.1 billion for 39 startups, focusing on interconnect technologies for moving data efficiently.
• Eliyan Corporation secured $60.0M in Series B funding for its chiplet interconnect technology NuLink, capable of simultaneous bi-directional signaling.
• Efficient Computer emerged with $16.0M in seed funding for its energy-efficient dataflow processor architecture targeting edge applications.
• Taalas received $50.0M for developing rapid implementation of deep learning models in silicon, enabling larger AI models without external memory.

• Mumbai-based VC firm Cornerstone Ventures has launched its second fund with a target corpus of $200 Mn, including a green-shoe option
• The fund will invest in early-growth stage startups with ticket sizes ranging from $5 Mn to $15 Mn, focusing on B2B tech opportunities
• Cornerstone Ventures aims to support emerging B2B Enterprise Tech opportunities and value creators in the Next Generation Enterprise Technologies space
• The firm’s portfolio companies include NimbleBox.ai,

• Synapses launches a $125 million fund focused on climate and health tech
• Fund targets early-stage startups with strong product-market fit
• Co-founders Ruchira Shukla and Karthik Chandrasekar emphasize deep focus on climate and health tech
• Chandrasekar highlights fund’s support for scaling and achieving commercial viability of startups
• Increased venture capital interest in clean mobility and health tech sectors, with Synapses standing out for its concentrated focus on pressing global challenges

Synapses Launches $125 mn Fund Focused on Climate, Health Tech

In the realm of venture capital and startup funding, a new player has entered the arena with a clear vision and a significant financial backing. Read more

• OurCrowd participates in Battery Tech Firm Carrar’s $5.3 million Series A funding round
• Other investors in the funding round include Salida, NextGear Ventures, and existing investors
• Carrar has developed patented battery technology for EVs, enabling 5-minute charging and extended lifespan
• The company addresses EV industry pain points such as battery cost, longevity, and safety
• OurCrowd CEO Jon Medved highlights the importance of managing EV battery temperatures and praises Carrar’s potential success

OurCrowd’s Participation in Battery Tech Firm Carrar’s Series A Funding Round

In a significant development for the electric vehicle (EV) industry, battery tech firm Carrar has successfully raised $5.3 million in a Series A funding round. Read more

• Berlin startups secured significant funding in March 2024, with 8 of them currently hiring.
• Berlin ranks second in Europe’s startup ecosystem, offering ample funding opportunities.
• Quantistry, a Berlin startup founded in 2019, raised €3M for its chemical simulation platform.
• Frontnow, founded in 2020, raised €3.8M for its AI-driven solutions for online retailers.
• Razor, founded in 2020, secured $1.1B (€1.01B) for accelerating Amazon FBA businesses.

• WasteX, a climate tech startup, secures $450,000 in funding from P4G Partnerships to expand biochar technology.
• WasteX plans to establish biochar production facilities in strategic locations in Indonesia with the help of the funding.
• The biochar technology includes a small-scale carbonizer that enhances energy efficiency and minimizes environmental impact.
• WasteX aims to provide free biochar to local farmers in Indonesia and offer training programs for effective integration into agricultural practices.

• Shoprite Group leads $125 million investment in retail tech startups through W23 Global VC fund
• Fund includes major grocery chains like Tesco, Ahold Delhaize, Woolworths Group, and Empire Company
• Focus on technology-first startups to enhance customer experience and digital transformation
• CEOs of partner companies to sit on the investment committee for equal partnership
• Aim to drive personalized shopping experiences, improve grocery value chains, and address sustainability challenges

Shoprite Group Leads the Charge in Retail Tech Startup Funding

In a groundbreaking move, the Shoprite Group, a South African retail giant, has taken the lead in establishing a new venture capital fund aimed at supporting the growth and innovation of retail tech startups. Read more

• Australian start-ups experience a 45% drop in external funding in the March quarter, reaching a six-year low.
• Only 66 deals were made during the quarter, the lowest in six years, with a lack of lead investors slowing down investments.
• The pandemic initially saw a surge in start-up fundraising, but interest rate increases in early 2022 affected venture capital investments.
• While deal frequency decreased, average and median investment values rose, focusing on fewer but potentially more promising companies.

• Estée Lauder backs $7M funding round for community powered platform, KIKI World
• KIKI World evolves into enterprise platform with backing from various investors including a16z
• KIKI World allows community participation in product innovation and rewards engagement
• KIKI’s proprietary software enables enterprise clients to launch community-driven campaigns
• KIKI’s focus on consumer-centric approach and blockchain technology attracts investors like Estée Lauder and a16z

Estée Lauder Backs $7M Funding Round For This Community Powered Platform

In the ever-evolving landscape of beauty and technology, Estée Lauder has recently made headlines by backing a $7 million funding round for KIKI World, a community-powered brand platform. Read more

• Funding to African tech startups fell by 62% year-on-year in Q1 2024
• Mobility startups, particularly Moove, led the way in funding raised
• Only $38 million was raised by fintech startups in the same period
• Climate tech startups are expected to see increased funding in 2024
• Nigeria, Egypt, South Africa, and Kenya received 82% of the total funding

African Mobility Startups Lead Funding Despite Overall Drop in Q1 2024

In the first quarter of 2024, funding to African tech startups experienced a significant decline of 62% year-on-year. Read more

• Filter Capital successfully raises ₹800 crore for its debut fund, Filter Capital India Fund I, with 60% of capital from domestic investors and 40% from international investors
• The firm plans to invest in four to six additional companies, with a focus on software services-linked businesses and funding rounds ranging from ₹60 crore to ₹100 crore
• Nitin Nayar, co-founder, and Managing Director, highlights Filter Capital’s vision to support growth-stage technology companies in India and build a leading technology-centric growth investment platform
• Filter Capital targets Series B and C funding rounds, focusing on sectors like Software as a Service (SaaS) and technology services, including niche areas like AI-driven solutions
• The fund’s strategic investments in companies like Capillary Technologies, Chalo Mobility, THB, and LoadShare Networks aim to drive innovation, scale ventures, and contribute to the digital transformation of Indian businesses.

• Start-up funding saw a modest rise, with the tech industry receiving the largest share of $23 billion.
• Global start-up funding reached $66 billion in Q1 2024, a 6% increase from the previous quarter but a 20% drop from the previous year.
• AI start-ups secured $11.4 billion, accounting for 17% of global funding, with a focus on language models, humanoid robots, and AI avatars.

• Planys Technologies secures INR 43 crore funding led by Ashish Kacholia to enhance infrastructure inspection technology
• Founded by Vineet Upadhyay, the startup specializes in marine robotics, non-destructive testing, and intelligent data analytics
• The funding will be used to expand operational capacity and develop advanced inspection solutions
• Planys has conducted over 400 asset inspections globally in sectors like Ports, Oil & Gas, and Dams
• Indian government and VCs are increasingly supporting the deep-tech sector, with new schemes promoting research and innovation

Improving Infrastructure Inspection with Planys Technologies

In the ever-evolving landscape of technology and innovation, startups play a crucial role in introducing groundbreaking solutions to various industries. Read more

• Filter Capital closes Rs 800 crore maiden fund to support growth-stage tech firms
• Fund targets Series B and C rounds in software services-linked businesses
• Mumbai-based firm led by cofounders and managing directors Nitin Nayar and Sumit Sinha
• Capital deployment plan spans over five years
• Focus on better returns than traditional investments like stock and gold

Filter Capital Closes Rs 800 Crore Maiden Fund for Growth-Stage Tech Firms

Filter Capital, a Mumbai-based investment firm, has successfully concluded the final close of its Rs 800 crore maiden fund. Read more