Category: Startups

• EU funding of €1.8m awarded to 15 start-ups to combat misinformation with blockchain
• NGI TrustChain initiative selects start-ups from 10 European countries out of 162 applicants
• Start-ups to receive up to $117,000 each to address online misinformation on various platforms
• Focus on using blockchain, identity, privacy, and decentralized technologies to build trust in online activities
• EU introduces election guidelines for online platforms to tackle rising misinformation

EU Funding Misinformation: 15 Start-ups Leveraging Blockchain to Combat Online Falsehoods

In a bid to tackle the growing menace of misinformation on digital platforms, the European Union has allocated €1.8m in grant funding to support 15 start-ups across Europe. Read more

• Synapse Analytics secures $2 million funding led by Hub71 and Silicon Badia
• Funding to expand AI technologies across GCC and Africa for financial sector transformation
• Startup part of Hub71 aiming to address financial inclusion and access using AI software
• Technology offers versatile deployment options and capabilities for financial institutions
• Synapse Analytics recognized for AI excellence, attracting top talent and partnerships with major banking providers

Synapse Analytics Secures $2M Funding Led by Hub71 and Silicon Badia

In the ever-evolving landscape of artificial intelligence (AI) technology, startups are continuously pushing boundaries and driving innovation. Read more

• SaaS startup Nected secures $1.5 million funding from Three State Ventures, Binny Bansal
• Mistake in filed ITR? Check revised ITR filing last date and penalties for late filing
• A fund with INR7k crore meant to protect investors is causing harm
• Chennai’s A2B attracts PE funds for investment opportunities
• Anil Ambani’s R Power and Paytm provide lessons on what to avoid during peak IPO season

SaaS Startup Funding: Nected Secures $1.5 Million Investment

In the world of tech startups, securing funding is a significant milestone that can propel a company to new heights. Read more

• Indian space tech startups secured $126 million funding in 2023, up 7% from 2022
• Revised ITR filing last date and penalties for filing after July 31 deadline
• MFs showing interest in disruptor stock from Reliance Industries
• Luxury car favored by young, affluent Indians for driving pleasure
• Piyush Goyal’s stance on India’s position regarding China restrictions

Indian Space Startups Garner $126 Million in Funding in 2023

In a significant development, Indian space technology startups have managed to secure a whopping $126 million in funding in the year 2023, marking a notable increase of 7% from the previous year. Read more

• OurCrowd leads $2.26 million funding round for Blue Tree Technologies, a Foodtech startup focused on sugar reduction
• Blue Tree Technologies, founded in Israel in 2020 by Didier Toubia, uses advanced separation techniques to remove sugar from beverages
• Blue Tree’s technology maintains nutrients and aroma while reducing sugar levels in juices, milk, and beer
• Despite challenges, including displacement due to military call-up, Blue Tree secured funding to expand its solution and reach a wider audience
• The investment in Blue Tree is significant for the Foodtech sector in Israel, which has seen a sharp decrease in funding post-invasion, highlighting the company’s potential impact.

• Indian spacetech startups witnessed record-breaking funding of $126 million in 2023, showing a significant increase from previous years and driven by government support and innovation.
• The spacetech sector in India has seen a 7% increase in funding from 2022, with early-stage rounds attracting the majority of the total funds.
• The Union Budget’s allocation of Rs 1,000 crore is expected to further boost the industry, attracting more entrepreneurship and investment.

• African startup funding finally crosses $1 billion in 2024, 2 months later than 2023
• Venture capital funding into African startups in 2024 surpasses $1 billion, as reported by Africa the Big Deal
• Kenyan clean energy company d.light secures a $176 million securitisation facility for expansion
• Egyptian unicorn MNT-Halan raises $157.5 million for geographical expansion, with IFC as a major contributor
• Funding in H1 2024 reached nearly $800 million, marking a decline from previous years but showing signs of improvement

African Startup Funding Finally Crosses $1 Billion in 2024

Venture capital funding into African startups has reached a significant milestone in 2024, crossing the $1 billion mark. Read more

• Melt&Marble awarded €2.76M by European Innovation Council to develop sustainable meat-like fat
• Precision fermentation and microbial engineering platform recognized for innovation in food production
• Selected as one of 68 European deep tech start-ups to receive grant and equity funding
• Also secured €260K grant for project focusing on enhancing dairy analogues
• Funding to support scaling up production and launching MeatyMarble™ as a sustainable alternative

Marble Innovation Award: Melt&Marble’s €2.76M EU Grant

In a significant boost for the foodtech industry, Melt&Marble has recently been awarded a substantial €2.76M grant by the European Innovation Council (EIC). Read more

• Melbourne edtech startup Sindy Labs secures $300,000 funding to join UC Berkeley SkyDeck accelerator
• Sindy Labs founded by former University of Melbourne students to address issues in online education with AI-driven conversational assessment
• Sindy platform aims to improve student engagement and academic integrity, providing personalized feedback at scale
• Sindy Labs plans to partner with universities and large employers to enhance student hiring processes
• Sindy Labs preparing for larger scale pilots at universities in Melbourne, UC Berkeley, and other locations

Melbourne Edtech Sindy Secures $300,000 Funding and Joins UC Berkeley SkyDeck Accelerator

In the bustling world of edtech startups, Melbourne-based Sindy Labs has made waves by securing a substantial $300,000 in funding as it embarks on an exciting new chapter in the UC Berkeley SkyDeck accelerator program. Read more

• African tech startups raised $530 million in the first half of 2024, down by 56% from the previous year, due to global economic conditions affecting investment.
• The African tech sector saw a reset with a decrease in the number of funded ventures and total funding raised in 2023, continuing a trend of annual halving in total investment for two years.
• The funding shortage, termed a “funding winter,” has led to high-profile startup closures and challenges for many others in the African tech space.

• Kennet has closed its largest fund to date, Kennet VI, raising €266M for investing in B2B SaaS companies across Europe.
• The fund focuses on established, high-growth B2B SaaS technology companies that are founder-owned and either capital efficient or bootstrapped.
• Kennet has a successful track record of delivering exits, with recent examples including Eloomi, Nuxeo, Dext, and CrossBorder Solutions.
• The firm’s investment strategy emphasizes building world-class management teams, expanding internationally, and creating strategic value.

• Astranis, a space tech startup, secured the top spot on the list with a $200 million funding round to enhance its Omega satellite program.
• The biotech sector also thrived, with Third Arc Bio raising $165 million for therapeutics development.
• Imperative Care, a medical device startup, announced an initial close of a Series E round potentially reaching $150 million.
• Vanta, a cybersecurity company, raised $150 million, while Chainguard secured $140 million in a Series C round for software supply chain security.

• Western Balkans Funding Rounds in H1 2024 reached €11.3M, with Native Teams leading with €6.3M
• Top players in H1 2024 show a 25% growth compared to H1 2023
• Native Teams offers global work solutions for freelancers and remote workers
• Ahlan App is a loyalty program and delivery platform that rewards customers
• Collabwriting and Reputeo offer collaborative online research and advanced data solutions

Western Balkans Funding Rounds in H1 2024 – Native Teams Leading the Way

In the realm of tech startups, funding rounds play a crucial role in fueling innovation and growth. Read more

• Intron Health, a health tech startup, raises $1.6 million in pre-seed funding led by Microtraction to develop AI for global health, focusing on clinical speech recognition for various accents in developing countries.
• The funding will be used to deepen research efforts, strengthen capabilities, expand distribution, recruit tech talent, and enhance product development and market expansion.
• Intron Health’s speech recognition platform aims to bridge the gap for African languages and accents, improving efficiency, health outcomes, and hospital finances.

• In Revenue Capital joins $4 million Seed funding round for tech startup Grazzy
• Investment to fuel team and program growth for Grazzy’s disruptive SaaS solution in hospitality industry
• Grazzy’s cloud-based platform empowers hourly employees with digital tipping and banking solutions
• Market opportunity in hotel digital tipping sector projected to grow rapidly to $49.9 billion by 2027
• In Revenue Capital offers founder-friendly VC model with embedded operators to support growth and success

Understanding Tech Startup Funding: In Revenue Capital Joins Seed Fund for Promising Tech Startup Grazzy

In the dynamic world of tech startups, securing funding is often a crucial step towards growth and success. Read more

• Harvey AI, a legal tech startup, secures $100M funding backed by OpenAI
• Harvey aims to revolutionize legal work with AI technology for document analysis and research
• The funding round values Harvey at $1.5 billion, demonstrating investor confidence in AI-powered legal solutions
• Harvey differentiates itself by understanding jurisdiction-specific legal language and regulations
• The rise of Harvey AI highlights the potential of AI to enhance legal services, improve efficiency, and democratize access to justice

Harvey AI: Revolutionizing Legal Tech with OpenAI Backing

In the realm of legal tech startups, Harvey AI has emerged as a frontrunner, backed by the powerhouse that is OpenAI. Read more

• **Slovenian Funding Rounds**: SaleSqueze, a SaaS startup, leads with over €1 million investment in H1 2024, following notable deals in FY 2023.
• SaleSqueze secures €1.4M funding in H1 2024 for its visual CPQ platform, attracting investments from various entities including Xenia Muntean and Fortech Investments.
• VisionAnchor, a video anchor monitoring system, raises €110K in seed funding, totaling €408K, backed by Techstars.

• Tech Hubs program receives $504 million in funding to support Main Streets
• Program aims to bring innovation and technology benefits to communities nationwide
• 12 Tech Hubs designated for implementation grants to accelerate industry growth
• Vice President Kamala Harris and Assistant Secretary of Commerce praise program’s impact
• Initiative seeks to address economic disparities and promote entrepreneurship for future industries

New Round Of Tech Hubs Funding Supports Main Streets

In a significant move to boost economic development and innovation across the United States, the U.S. Read more

• Lead Ventures launches a €100M fund specifically for CEE startups
• Fund targets late Seed & Series A companies in CEE tech sector for growth
• Investments range from €2M to €10M to support Product-Market Fit and expansion
• CEE tech sector experiences rapid growth with increasing valuations and unicorn emergence
• Despite funding increase, Series A funding gap persists, Lead Ventures aims to bridge this gap with strategic investments

Lead Ventures Launches €100M Fund for CEE Startups

Lead Ventures, a prominent venture capital firm, has set the stage for a significant boost to Central and Eastern European (CEE) startups with the unveiling of its latest venture – a €100M fund tailored specifically for companies in this thriving region. Read more

• Coldcart secures $6.5 million in seed financing for its frozen and refrigerated parcel logistics platform, led by Collide Capital and Material.
• Cart.com obtains a $105 million term loan facility from BlackRock to enhance its commerce and logistics solutions, consolidating venture debt.
• SuperHii Ai Cart receives substantial funding for overseas market expansion to advance smart supermarket technology globally.
• CultureAI closes a $10 million Series A funding round to evolve human risk management solutions and expand its team and market presence.

• Umwelt.Ai secures $125K seed funding to revolutionize HR Tech with AI and data science
• Platform aims to bridge gap between employee expectations and organizational realities
• Offers AI-powered People Analytics and Employee Experience solution
• Proactively measures indicators like mood, engagement, and attrition risk
• Helps organizations improve ENPS, employee engagement, and employer brand

Revolutionizing HR Tech: Umwelt.Ai Secures $125K Seed Funding

In the fast-paced world of business and technology, innovation is key to staying ahead of the curve. Read more

• Zaka has launched a €15m VC fund to support US and European start-ups, focusing on B2B software, AI, biotech, and health-tech
• The fund had an initial closing of €10.5m and aims to support pre-seed and seed funding rounds
• Zaka VC, founded in 2020 by Jan Kasper and Peter Zalesak, previously focused on CEE but expanded to the US and UK
• The fund plans to target European diaspora in the US, US-based teams, and CEE-based teams looking to expand into the US
• Despite global VC market challenges, Zaka sees the US ecosystem as offering compelling investment opportunities

Zaka unveils €15m VC fund to support US and European start-ups

Zaka VC, a prominent player in the venture capital (VC) space, has recently made waves with the announcement of a new €15m fund aimed at bolstering early-stage start-ups in the US and EU. Read more

• PureTerra Ventures invests in Sudoc, aligning with their ethos of developing disruptive water technologies for a sustainable water cycle
• Sudoc’s innovative products aim to restore chemistry balance with nature and promote human and environmental health by removing harmful chemicals
• The EU-backed investment of $20 million will enable Sudoc to bring its sustainable cleaning products, particularly NEAT brand, to water treatment markets
• Sudoc’s patented TAML catalysts, recognized for their efficiency and cost-effectiveness, have potential to revolutionize water treatment processes
• Partnerships with organizations like the European Investment Fund and Brunel University London support Sudoc’s mission to reduce chemical exposure and improve water reuse, in line with EU Green Deal ambitions

PureTerra Ventures Sudoc: A Game-Changing Investment in Sustainable Water Technologies

In the realm of sustainable water technologies, the recent investment by EU-backed fund PureTerra Ventures in Sudoc has stirred significant excitement and anticipation. Read more

• Aurora empowers women entrepreneurs with funding through the Aurora Tech Award
• Five female founders in tech startups were honored at the Lagos Startup Week for their innovative work
• Winners of the award receive mentorship, global access, and funding to scale their ventures
• The award aims to address the lack of funding for women-led startups in the tech industry
• The Aurora Tech Award seeks to promote equality in tech entrepreneurship and support women founders in overcoming challenges in the industry

Aurora Empowers Women Entrepreneurs: Breaking Barriers in Tech Startups

In a world where the tech industry is predominantly male-dominated, initiatives like the Aurora Tech Award are shining a spotlight on women entrepreneurs who are making significant strides in the field. Read more

• Defense tech startup Saronic secures $175M in Series B funding led by Andreessen Horowitz
• Funding to aid rapid scaling of production for autonomous surface vessels
• Saronic focuses on designing and building unmanned vessels for diverse payloads
• Company participates in military exercises to showcase capabilities and accelerate demand
• Saronic aligns with Pentagon’s Replicator initiative for rapid deployment of unmanned systems

Defense Tech Startup Saronic Secures $175M in Series B Funding

In the fast-paced world of tech startups, securing funding is crucial for growth and innovation. Read more

• Women tech funding faces significant challenges, with a lack of diversity in investment decisions affecting funding opportunities.
• Nikki Tugano, a woman of color founder, secured funding for her tech start-up SeenCulture, despite facing bias and challenges in the fundraising process.
• Australian women-founded tech companies are experiencing a decline in funding, exacerbating existing disparities.
• Venture capital firms in Australia show a significant gender disparity in funding allocation, with all-male teams receiving more substantial investments.

• Fashion tech start-up Hey Savi, founded by Victoria Peppiatt, Angela Vinci, and Sarah Daniel, secures £2.2 million in funding
• Hey Savi aims to revolutionize online fashion shopping through advanced AI and personalized customer and fashion data
• The start-up’s goal is to offer a highly personalized solution for customers to find and buy their ideal outfits
• Hey Savi is supported by an esteemed advisory board, including industry leaders from Sotheby’s, eBay, Databricks, and Microsoft
• With this funding, Hey Savi plans to transform the online fashion shopping experience by providing tailored and efficient solutions

Revolutionizing Online Shopping with Hey Savi’s £2.2 Million Funding

In the fast-paced world of fashion and technology, the UK-based fashion tech start-up, Hey Savi, has made waves by securing a substantial £2.2 million in funding. Read more

• **Funding Rounds Hungary**: Hungarian startup ecosystem sees growth in funding rounds in H1 2024, with top 5 companies raising €24.1 million.
• Colossyan leads the way with a Series A round of €20.2 million, focusing on AI video for education.
• Other notable funding rounds include Parkl in transportation, Scoutlabs in AgriTech, Vizzu in SaaS, and Compocity in Enterprise Software.
• Redmenta secures €304K in its second seed round, offering online self-grading worksheet services.

• Slovak Funding Rounds: In H1 2024, CloudTalk secures €26M in Series B funding
• GA Drilling receives €14M in late VC funding for zero-carbon energy solutions
• Powerful Medical raises €7.5M in early VC funding for cardiovascular disease diagnosis
• Boataround secures €5.5M in early VC funding for global yacht reservations
• The Recursive covers top tech funding rounds in Slovakia, part of CEE milestones mapping series

Top Slovak Funding Rounds in 2024: CloudTalk Leading the Top

In the first half of 2024, the Slovak startup ecosystem remained rather steady compared to the previous period, with three startups securing significant investments (over €7M). Read more

• ZAKA VC has launched its first fund, Fund I, with €15M to support early-stage startups in the US and EU
• Founded in 2020 by Jan Kasper and Peter Zalesak, ZAKA VC started as a family office before growing into a team of 6 members with investments in over 55 companies worldwide
• The fund primarily targets European diaspora in the US, US-based teams, and CEE-based teams looking to scale to the US
• ZAKA VC Fund I has had a first closing of €10.5M in June 2024, with a minimum LP ticket of €130k
• The fund focuses on investing in pre-seed and seed-stage startups in B2B software, AI applications in B2B, and biotech and health tech sectors

ZAKA Fund I: A Game-Changer for Early-Stage Startups

ZAKA VC, a venture capital firm based in Prague and London, has made waves in the investment world by unveiling its inaugural fund, Fund I, with an impressive size of €15M. Read more