EGYM, Jump, Jet HR, and Convergence

Welcome to another edition of the Who Got Funded newsletter. 🚀 

My name is Onofre, and I'm an entrepreneur living in Aarhus, Denmark. Every week, I dedicate 3 to 4 hours of my free time to reading startup news, which I then summarize in this newsletter.

I hope you enjoy this content. Thank you so much for reading. ✌️ 

Estimated reading time: ⌛️ 6 min 20 sec.

SERIES B AND LATER
German healthtech EGYM secures €180 million to expand its data-driven fitness technology

🇩🇪 Munich-based healthtech EGYM has raised approximately €180 million of growth (not venture) capital at a valuation of over $1 billion. Not bad!

This scaleup offers data-driven fitness technology with a special focus on prevention, equipping gyms with smart, integrated strength machines and AI-powered tools for personalized workouts, health tracking, and seamless connectivity—boosting member engagement and retention.

EGYM’s corporate wellness network connects 17,000 sports partners and 14,000 corporate clients, serving over 3 million employees. Around 18,000 fitness and health facilities use EGYM’s products and services, and 6 million people worldwide train with EGYM every month.

The company is rumored to be profitable on an EBITDA basis and expects to generate $500 million in revenue by 2025, having raised approximately $600 million since its founding in 2010. 🚀 

👉️ You can read more about this deal here.

More Series B (and later) interesting stories:

🇸🇪 Stockholm-based Stegra, a company that aims to decarbonise the steel industry using green hydrogen, raises €100 million.

🇩🇪 Munich-based Quantum Systems closes €100 million Series B for advanced drone technology.

🇩🇪 Berlin-based Distribusion secures €71.6 million for global ground transport accessibility.

🇬🇧 London-based Raycast raises €27 million Series B to help iOS and Windows enhance productivity.

🇬🇧 London-based APRON raises €26.9 million Series B for SMB payments tech.

🇮🇹 Milan-based hlpy raises €18 millions Series B to grow in the vehicle assistance sector in Europe.

SERIES A
Paris-based Jump raises €11 million to shake up workforce codes for younger generations

🇫🇷 Paris-based Jump, which aims to “redefine work for younger generations seeking freedom,” has raised €11 million in a Series A round.

With more than 4 million freelancers in France (and nearly 28 million across Europe), this startup provides access to top-tier social protections—such as company health insurance and employee savings—offering freelancers a solid foundation of tools and benefits typically reserved for salaried employees.

According to the funding press release, this startup is currently serving over 2,000 individual customers, which suggests they’ve an estimated annual revenue of around €2 million. I believe this is a startup worth following if you're interested in the insurtech space.

👉️ You can read more about this deal here.

More Series A interesting stories:

🇦🇹 Innsbruck-based DeepOpinion, an AI startup specialising in enterprise agentic process automation, raises €11 million.

🇫🇷 French startup SURGAR raises €11 million to deploy AR for minimally invasive surgery.

🇪🇪 Tallinn-based Mifundo secures €10 million to create a platform for portable credit profiles.

🇳🇴 Oslo-based Findable, a startup that automates building documentation using AI, raises €9 million.

🇩🇪 German company Enginsight gets €6 million to strengthen cybersecurity for SMEs.

🇫🇷 Paris-based regtech Dotfile raises €6 million to automate compliance with AI.

🇫🇷 Paris-based La Solive raises €4 million to launch new energy renovation training programmes.

SEED
Milan-based Jet HR gets €12 million to eliminate the bureaucracy surrounding payroll

🇮🇹 Milan-based Jet HR, a startup simplifying payroll and HR for businesses, has secured a €12 million seed round, raising its total funding to €16.7 million just 1 year after launch.

Let's start by understanding the market this company is targeting. Jet HR is focusing on the Italian payroll market, which, according to the press release, is estimated to be worth around €4 billion annually.

Honestly, it’s not a very large market, but it seems they have the potential to become a key player in Italy with their AI-driven solution.

According to the press release, this startup has over 300 customers, including traditional SMEs, startups, multinationals, and publicly traded companies like HelloFresh and Octopus Energy. Considering they were founded just one year ago, this is quite impressive. We’ll follow them closely!

👉️ You can read more about this deal here.

More Seed interesting stories:

🇬🇧 Cambridge-based PACT raises €10.7 million to industrialise scaleable biomaterials made from collagen.

🇬🇧 London-based Simpler raises €9 million to transform the checkout experience.

🇮🇹 Milan-based Ephos raises €7.6 million to deliver glass-based quantum photonic chips.

🇫🇷 Paris-based InSpek secures €6 million to accelerate biomanufacturing with photonics.

🇩🇪 Münster-based Syte secures around €5 million to advance AI-powered real estate data platform.

🇫🇷 Paris-based Phacet raises €4 million for customised AI application platform for SMEs.

🇩🇪 Germany-based BIOVOX closes €2.2 million to accelerate development of sustainable healthcare plastics.

🇸🇪 Stockholm-based Qura raises €2.1 million to build LLM-structured legal databases.

🇩🇪 German healthtech Family.cards raises €1.2 million for digital accesibility solutions for seniors.

🇮🇹 Outdoor adventure booking platform Mapo Tapo secures €1.15 million in funding.

PRE-SEED
London-based Convergence secures €10.7 million for personalized AI agents designed for everyday tasks

🇬🇧 London-based startup Convergence, which aims to give everyone access to personalized AI agents, has raised €10.7 million just 5 months after being founded. That was fast.

The first thing I'd like to point out is that this startup is targeting a fast-growing market: the AI agents market, which is projected to grow from $5.1 billion in 2024 to $47.1 billion by 2030, with a CAGR of 44.8%.

The founders of this startup, Marvin Purtorab and Andy Toulis, met while working at Shopify on recommender systems and AI assistants, before joining Cohere, another company in the AI industry.

Since founding Convergence only a few months ago, they have brought together a team of specialists from companies including Google DeepMind, Meta, and PolyAI. The team progressed from concept to product launch in just 3 months.

I'm assuming that's the reason they've been able to close such a strong pre-seed round in a short period of time. 🚀

👉️ You can read more about this deal here.

More pre-Seed interesting stories:

🇬🇧 London-based Desia raises €2.9 million to transform the investment professional’s work stack.

🇩🇪 Berlin-based Cariqa gets €1 million to launch consumer-facing EV charging marketplace.