July 4, 2024

Technology Investment & Advisory in Europe Monthly Summary June 2024

Stay up to date with notable deals, fund raises, and key personnel movements in the Technology Investment market with our monthly newsletter.
Technology Investment & Advisory in Europe Monthly Summary June 2024
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Delivery management platform Scurri has acquired HelloDone, the UK-based GenAI provider for retailers and brands

BIOPHTA, a preclinical biotech company developing technology for the treatment of eye diseases, has just closed a €6.5 million Seed round, led by UI Investissement, Elaia, and GO Capital

Mobility startup Gireve, which connects mobility stakeholders with charging stations, with over 500,000 charging points connected to its platform, has raised €20M for its European expansion from Partech

Fuuse, a Lancaster-based EV charge point management platform, has raised £8.7m as it looks to expand across the UK and Ireland, round was led by YFM Equity Partners

Swedish startup Aira has secured €200m in debt financing from BNP Paribas to fund the rollout of heat pumps to customers

Decade Energy, a Paris-based startup founded by a team of former operators from Swedish electric van manufacturer Volta Trucks, has raised a €3.6m equity seed round to create a software platform that manages truck operators’ transitions to electric fleets

imagino, a marketing technology provider headquartered in Paris, announced the details of its €25 million Series A investment led by Cathay Innovation and joined by henQ

Freshstream has acquired a controlling stake in IT infrastructure provider Worldstream, this is the 7th investment from the 1st fund which was raised in 2023

Sopht, a French software provider that analyses and optimises a companies’ compute usage, has raised a €3.3M round from impact investors Ring Capital and Climate Club

Amsterdam-based Carv has raised $10M to offload admin from recruiters following the launch of its recruitment platform in March. With the Seed funding, Carv aims to accelerate its growth and expand the capabilities of its platform into different domains of the recruitment life cycle

Human Native AI, a London startup offering what it describes as legal and ethical data for tech firms to train large language models, has raised £2.8m from LocalGlobe and Mercuri

Zurich-based startup Synthara has raised $11m, to develop its technology to make embedded chips, in a round which was led by Vsquared Ventures, with other new backers OTB Ventures, Onsight Ventures, and Deep Tech Labs

CMS provider Storyblok has closed its $80M Series C round, Brighton Park Capital led the round, with participation from existing investors HV Capital, Mubadala Capital, 3VC, and firstminute capital

German B2B robotics startup coboworx has secured €11.4M to help companies integrate robotics into their digital architecture without prior robotics expertise

Hamburg-based company Plancraft, which offers a software solution for digitalising work processes in the craft industry has successfully closed a €12 million Series A financing round from Creandum as the lead investor in the round

London-based medical technology startup Amber Therapeutics has closed a $100m Series A funding round which was led by New Enterprise Associates as part of an investment syndicate featuring F-Prime Capital

Eurazeo has made an investment in Cognigy, a provider of AI-driven customer services solutions, providing €50m in Series C funding to the Germany -based business from the Eurazeo Growth Fund IV

Sidekick, a wealth and savings app for millennials with cash to splash, has raised a £4.5m seed round led by Pact VC and TheVentureCity

Popular Gen-Z social media app BeReal has been acquired by French mobile game and apps publisher Voodoo for €500m in a cash and earnout deal

Mistral has closed a €468m equity funding round at a €5.8bn valuation, the fundraise was led by new investor DST Global and existing backer General Catalyst

AccountsIQ has secured a €60M Series C round for its cloud-based acounting platform, The capital was provided by Axiom Equity, a specialist B2B SaaS growth equity fund

Gorilla, a technology company that enables energy retailers to gather and process vast amounts of critical data, has raised a €23M Series B led by Headline, with support from existing investors Beringea and the Flemish investment company PMV

Manchester-based investor Praetura has announced AccessPay as the first investment made via its VCT, the northern-focused VC firm launched the Praetura Growth VCT in 2023, targeting an initial raise of £10m to invest in regionally diverse UK startups

Paris-based quantum computing startup C12 has raised an €18m equity funding round to continue developing the technology behind its quantum processors

Finbourne Technology, a London-based investment data management company, has raised £55m in a Series B funding round which was led by Highland Europe and AVP

Oxford-based post-quantum cryptography startup PQShield has today announced a $37m Series B funding round, led by Addition

Eurazeo invests in expense management software specialist Rydoo

SAVA, the startup reinventing health monitoring with its real-time, affordable and painless microsensor – is emerging from five years of stealth to announce it has raised $8 million in a Seed funding round led by Balderton Capital and Exor Ventures

Qblox, a leading innovator in quantum technology, announced the successful closure of its Series A funding round, securing €24.2 million in investment led by Quantonation and Invest-NL Deep Tech fund

Manchester-based electric vehicle charging network Be.EV has secured £55m in debt financing to roll out public charge points across the UK, with a focus outside of London

Google Ventures has led an $18m Series A investment into London-based startup Climate X to fuel its expansion into the US, funding also came from Pale Blue Dot, Blue Wire Capital, PT1, Unconventional Ventures and Western Technology Investment

Stability AI has secured funding from previous backers Coatue Management and Lightspeed Venture Partners bringing total funding to around $80m for the UK based start-up

TPG and global investment group CDPQ have agreed to acquire Aareon, a European SaaS provider for the property industry valued at €3.9bn, from international property specialist Aareal Bank and US private equity firm Advent International

TechWolf, a Belgian AI company has closed a $42.75 million Series B funding round to build the AI Infrastructure layer for employee skills, in a round led by Felix Capital

Rohlik, a Czech online grocery business and the country’s first unicorn, has raised a €160m equity and debt round led by the European Bank of Reconstruction and Development, with the participation of existing investors and the European Investment Bank

Softonic, the world's leading platform for secure software downloads, has acquired Appvizer, a platform specializing in B2B software recommendations. The acquisition allows Softonic to diversify its product and access a broader range of clients

Cheshire-based PortSwigger, an application security software provider, announced it has raised €104.7 million from Brighton Park Capital

Libattion, a fast-growing, leading-edge company offering stationary energy storage solutions from upcycled electric vehicle batteries based in Zurich, has secured a total of €14 million. The round was led by A&G Energy Transition Tech Fund

Software-focused Flex Capital has acquired a majority stake in German compliance management software firm Proxora

Latest Funds

Creandum has raised its seventh fund, a €500m fund to support seed and early-stage startups in Europe. Incredibly, the oversubscribed fund was raised in 12 weeks and is backed by 30 global LPs, with more than half of the capital coming from US investors

German Private Equity investor Bregal Unternehmerkapital had closed its fourth fund at €2.65bn

Dreamcraft Ventures, one of the leading emerging venture capital firms in the Nordics, announces the final closing of its €66 million Fund II. Established in 2019, Dreamcraft Ventures continues its mission to support the next generation of B2B software companies across Europe

London-based private equity firm Corten Capital has held the final close of Corten Capital II at €680m. The fund will focus on investments in business software, services and data companies across Europe and North America

Italian Founders Fund, a first-ever Italian Venture Capital fund created by founders for founders, announced the launch of its debut €50 million fund

Equilibrium Ventures, a new seed-stage crypto fund headquartered in Finland, has hit the first close of a targeted €30m fund amid a renewed interest in blockchain startup

Vsquared Ventures, one of Europe’s leading early-stage deep tech funds, announced the successful final closing of its latest fund, Vsquared II oversubscribed at €214 million, as the largest early-stage deeptech fund to date

Spanish Kfund has raised €70M in commitments for its sixth fund. The fund manager plans to intensify its support for "high-impact projects" in southern Europe

Copilot Capital, a new private equity firm based in London, has launched a $200m buyout fund targeting European software scaleups, the private equity firm plans to invest in lower mid-market software firms in Europe with annual recurring revenue of up to £13m

VC firm Breega has launched a $75m fund to invest in early-stage startups in Africa, the London, Paris and Barcelona-based investment firm will open two new offices in Nigeria and Cape Town

Wind, an emerging European VC built and backed by successful entrepreneurs, announced the launch of a new Article 9 fund. The €130 million fund has exceeded expectations, reaching €90 million at its first closing. The fund will finance pioneering sustainable Deeptech startups at the Seed/Series A stage

DTCP, an independent investment management firm focused on digitization and automation, has closed its DTCP Growth Equity III Fund and an initial closing of its additional B2B early stage investment fund at a total amount of $450m

MiddleGame Ventures, a Luxembourg-based VC firm focusing on fintech, has hit the first close of a targeted €150m fund, and has raised roughly a third of that sum (around €55m)

Czech VC Purple Ventures has launched a €40 million fund to invest in early-stage startups over the next four years

Industry News

Monzo has become one of the few profitable European unicorns after reporting its first-ever year in the black. In the year ending March 31, Monzo posted a pretax profit of £15.4 million, compared with a loss of £116.3 million over the same period the previous year

The UK’s AI sector has been valued at $92bn (£72.3bn), larger than any other country in Europe, according to new data from the ‘UK Tech in the Age of AI’ report from Tech Nation

FTV, a US-based growth equity, has set up a London team and hired Director, Richard Earnshaw from Hg to lead the team as the firm aim for a European deals push

Labour has confirmed its plans to hit private equity GPs with an increased tax threshold for carried interest as the party pledges to close the loophole if they come to power next month

Swedish battery manufacturer Northvolt, one of Europe’s best-funded climate tech startups, its €2bn deal to supply battery cells to German car manufacturer BMW has been cancelled

London-based venture capital firm Hambro Perks has re-branded to Salica Investments following the death of co-founder Rupert Hambro and the resignation of co-founder Dominic Perks

Tassilo Arnhold, a co-managing partner alongside Nassim Cherchali at AnaCap Financial Partners, has left the London-based private equity firm

Balderton is introducing parental support for founders, becoming the first VC firm to offer free access. The program, led by Cooper Parenting, provides parents with access to expert guidance, resources, workshops and community-led peer support

Current mandates:

M&A Senior Analyst / Associate – London, UK

VC Associate (bulge-bracket investment bankers) – London, UK

M&A Associate – Munich or Berlin, Germany

M&A VP – Munich or Berlin, Germany

Sources:

https://sifted.eu/

https://www.eu-startups.com/

https://tech.eu/news/

https://www.uktech.news/

https://pitchbook.com/

https://www.privateequitywire.co.uk/

https://realdeals.eu.com/

https://www.fnlondon.com/

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Date
July 4, 2024
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Author
Ross is a Principal at Novus Executives and joined the firm in 2018 after graduating with a first-class honours from Southampton Solent. His area of expertise is in the technology sector, partnering with buy and sell-side firms within VC & Growth, Private Equity and Investment Banking. Ross has developed a track record of delivering excellent results for clients whilst developing long-term relationships within the industry.
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