January 2, 2025

Technology Investment & Advisory in Europe Monthly Summary December 2024

Stay up to date with notable deals, fund raises, and key personnel movements in the Technology Investment market with our monthly newsletter.

Notable Transactions

Venture capital firm Molten Ventures has secured a more than 7x return from its latest exit after disposing of its stake in investment in file management company M-Files, they first backed M-Files in 2013 as part of its €6m Series A round

London based 9fin, a start-up developing AI analytics technology for debt capital markets has closed a $50m Series B round which was led by Highland Europe

Polish edtech Coding Giants, teaching coding skills to children and teens, has closed an €8.5 million investment round from TGV, bringing its funding to over €12 million

NetBird, the Berlin-based networked security platform, has raised €4m in Seed funding. The round was co-led by InReach Ventures and existing investor Nauta

Scottish Equity Partners has made a strategic growth investment in Springtime Technologies, an accounts payable automation software company based in Vienna, Austria

Carbmee, a German startup in enterprise carbon management, has raised €20 million in a Series A funding round led by CommerzVentures, with participation from Fly Ventures

Briefcase, a UK startup looking to disrupt the accounting industry, has raised €2.8 million in a seed funding round led by Earlybird

AI-powered market research platform Bounce Insights has raised a $4.5 million funding round by ACT Venture Capital

InfraVia Capital Partners has announced it has agreed to acquire a majority stake in Copenhagen Optimization, a SaaS platform provider for airport optimisation of passenger and baggage operations

London-based Lawhive has closed a $40 million Series A, led by GV and TQ Ventures, adding to what is already a record year for legal tech venture capital funding

Gresham House Ventures has invested £5M into adventure travel scale-up Much Better Adventures, an online travel company specialising in active outdoor adventure holidays

General Atlantic has agreed to acquire Learning Technologies Group (LTG) for £802.4m

Oxford Flow, a spin-out from the University of Oxford’s Thermofluids Institute, has raised €23.7 million in a Series C funding round co-led by bp Ventures and Energy Impact Partners

Zopa has raised €80m as the UK digital bank makes an ambitious push into new product verticals such as current accounts, investments and a GenAI-powered financial assistant. The funding round was led by A.P. Moller Holding

Munich-based Planet A Foods, which makes chocolate without cocoa, has raised a $30m Series B round which was co-led by Burda Principal Investments and Zinitinus

Main Capital Partners' portfolio company, Omnidocs, has acquired a majority stake in Presentation Solutions, a UK-based document productivity tools provider with an international reach

Main Capital Partners has also exited German digital process automation platform JobRouter to Aptean

Manchester-based Partful, whose interactive 3D models explode to reveal each product’s individual components, has raised £5m in a Series A funding round led by Northern Gritstone

HarbourVest Partners has announced it has taken a minority stake in The Citation Group, a provider of tech-enabled compliance and certification for SMEs.

London fintech BVNK announced the successful closing of its $50 million Series B funding round, as part of the round the firm is expanding its operations to the United States, opening a San Francisco office and establishing a presence in New York City.

Upvest, the German B2B Fintech, is set to accelerate its expansion in the UK following a €100m Series C funding round lead by Hedosophia

FTV Capital has made an undisclosed investment in London-headquartered Orbus Software

Bridgepoint is to back Sweden-based supply-chain software-as-a-service provider, Surikat. The firm’s CEO and founder will remain a significant shareholder

Munich-based aviation startup VÆRIDION has raised €14 million in a Series A funding round to accelerate the development of its innovative electric aircraft, the Microliner, led by World Fund

Arborea, a climate tech startup developing carbon-reducing food production, has raised £4.1m in a funding round which was led by Indico Capital partners

Paris-based Comand AI, a two-year-old startup building AI battlefield strategy planning software, has raised €8.5m in seed funding led by Eurazeo

Swedish sports video tech company Spiideo has acquired Signality, an optical tracking and sports data generation company. Spiideo is an AI-powered video and data solution for leagues, broadcasters, federations, and clubs

Windward has become the latest tech firm to exit the London Stock Exchange after the maritime AI business was acquired by a fund linked to US investor FTV Capital in a £216m deal

German solar startup 1Komma5 has raised €150m, paving its way to a public listing. The funding is led by the California State Teachers’ Retirement System (Calstrs)

DN Capital has exited its investment in Brigit, a financial technology company, following its $460m acquisition by Upbound Group

CDPE, and Trilantic Europe, a prominent pan-European private equity firm, have jointly acquired a majority stake in Diagram Group, an Italian agritech innovator

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Latest Funds

Alstin Capital, led by Carsten Maschmeyer, has raised €175m for a new fund. With tickets ranging from €2M to €7M, Alstin III will primarily focus on Series A B2B software companies

Financial group GVC Gaesco has joined with venture capital firm Next Tier Ventures to establish a new €50 million fund aimed at supporting startups specialising in AI

Fly Ventures has closed its €80 million Fund III. It follows its €53 million Fund II and €35 million Fund I. The Firm addresses a critical gap in the European funding landscape for deep tech founders

Heartcore Capital announced the closing of our €170M Fund V to back exceptional early-stage technology founders across Europe

UK and Ireland lower mid-market investor Hypha Private Equity has held the final close of its maiden fund on £118m

French-Italian early-stage VC 360 Capital has closed €140m for a new fund dedicated to climate tech, with plans to reach a final target of €200m in 2025

Robin Capital, a German solo GP-led venture fund founded by Robin Haak, has successfully closed its inaugural fund, Robin Fund One, raising a total of €15 million.

Nordic Capital has successfully closed its latest fund, Evolution II, at its €2bn hard cap, exceeding its initial target of €1.4bn

Voima Ventures has announced the final closing of its €100 million+ Fund III, an Article 8-compliant deep tech fund, based in both Helsinki and Stockholm

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Industry News

Microsoft is facing a £1bn legal action in the UK over allegations it has been unfairly up-charging customers who use rival cloud providers

FIGR Ventures, a new UK-based family office fund, has announced their official launch to invest in early-stage, mission-driven startups that are reshaping the consumer sector

Sequoia Capital growth partner Matt Miller has announced he’s departing the Silicon Valley VC firm after 12 years to strike out on his own and build a Europe-focused venture fund

Private equity buyout fundraising in EMEA has never been more concentrated with capital raised reaching an all-time high of €114 billion this year and fund count close to a 20-year low

Private equity activity is on track to match or exceed 2023 levels, despite a challenging year, with deal-making reaching 69% and 74% of last year’s volume and value

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