TravelPerk, iPronics, Oxyle, and GetVocal AI

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

I'm Onofre—a product manager by day, entrepreneur by night, based in Aarhus, Denmark. Every week, I dedicate 3–4 hours to exploring European startup funding stories and summarizing the most exciting ones for you.

Thank you, as always, for reading! Your support means a ton. 🫶

Estimated reading time: ⌛️ 7 min 10 sec.

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SERIES B AND LATER
Barcelona-based TravelPerk raises €191 million to expand its unified travel and expense management platform

🇪🇸 Barcelona-based business travel platform TravelPerk has raised €191 million in a Series E round to expand its unified travel and expense management offering, nearly doubling its valuation to $2.7 billion. Bra-vo. 🚀 

Founded in 2015 by Avi Meir, Javier Suarez, and Ron Levin, TravelPerk is a hyper-growth SaaS business travel platform and an innovator in the future of travel for work. Its all-in-one platform looks to save time, money, and hassle for everyone.

The company also announced its acquisition of Yokoy in an all-equity deal, a market-leader in Europe for AI-powered expense, invoice, and card payment processing. Yokoy was named #1 fastest-growing B2B Fintech brand in Europe by Sifted in 2024.

I believe that this acquisition makes sense as it strengthens TravelPerk’s ability to offer highly tailored expense solutions to its customers.

Remarkably, TravelPerk has grown rapidly while also becoming profitable. The company now handles over $2.5 billion in yearly bookings and earns more than $200 million in annual revenue. It has grown over 50% per year for the last two years and reached EBITDA break-even at the end of 2024. What an impressive journey!

👉️ Read more about this deal here.

+ Series B (and later) funding stories:

🇵🇱 AI startup ElevenLabs, founded by two Polish entrepreneurs, raised $180 million, tripling its valuation to $3.3 billion.

🇫🇷 Paris-based quantum computing startup Alice & Bob raises €100 million to accelerate the development of a fault-tolerant quantum computer by 2030.

🇫🇷 Paris-based FinTech Swan raises €42 million to expand across Europe and enhance its embedded finance solutions.

🇬🇧 London-based cloud accounting software platform iplicit raises €29.7 million to expand its growth in the UK mid-market.

🇨🇭 Saint Gallen-based startup Meteomatics raises €21.1 million to expand into the US and develop its Meteodrones for advanced weather intelligence.

SERIES A
Valencia-based iPronics raises €20 million to advance optical networking for Next-Gen AI Data Centers

🇪🇸 Valencia-based iPronics, a deep-tech startup working on software-defined photonic engines, has raised €20 million to accelerate the deployment of the iPronics Optical Networking Engine (ONE) in AI data centers, enabling fast, scalable, and high-bandwidth communication for energy-efficient AI.

A very promising startup here! Founded in 2019 as an spinoff of Universitat Politècnica de València, iPronics' technology aims to enable larger GPU domains with fast optical interconnects, increasing training compute capacity and providing low-latency inference.

Nowadays, most AI data centers use electronic switches that must be replaced as bandwidth demands grow. Optical networking appears to be the solution, given that it is ~10×–100× faster than copper interconnects.

Unfortunately, I couldn’t find any numbers on iPronics' customer count or revenue figures, which suggests that the company is still focused on R&D.

👉️ Read more about this deal here.

+ Series A funding stories:

🇪🇸 Valencia-based HealthTech company Quibim raises €47.9 million to expand its imaging biomarker technology and establish a presence in the US.

🇫🇷 Paris-based startup Naboo raises €20 million to scale its AI-powered event concierge service.

🇫🇷 Habsheim-based startup Keey Aerogel raises €18 million to scale silica aerogel production and become Europe's leading producer of green aerogel.

🇩🇪 Munich-based GreenTech startup OCELL raises €10 million to expand across Europe and enhance its AI-powered carbon credit platform.

🇫🇷 Marquette-lez-Lille-based startup Le Fourgon raises €8.2 million to expand its reusable glass deposit system.

🇬🇧 London-based startup Zelt raises €5.7 million to expand its all-in-one Human Capital Management software and enhance its features for customers.

🇳🇱 Dutch foodtech OneThird raises €3.5 million to expand its AI-powered sensor technology, helping farmers, distributors, and retailers reduce food waste.

SEED
Zurich-based Oxyle raises €15.3 million to eliminate PFAS pollutants from wastewater instead of just relocating them

🇨🇭 Zurich-based Oxyle has raised €15.3 million to scale its technology for removing PFAS, toxic "forever chemicals" found in water supplies.

PFAS (Per- and Polyfluoroalkyl Substances) are man-made chemicals used in everyday products like non-stick pans, waterproof clothing, food packaging, and firefighting foam. They are called "forever chemicals" because they don’t break down naturally and can stay in the environment—especially in water and soil—for decades.

Unlike traditional methods that only filter or contain PFAS, Oxyle has developed a system that destroys them at the molecular level. Their technology uses a three-stage process—foam fractionation, catalytic destruction, and real-time machine learning monitoring—to achieve over 99% PFAS elimination while consuming far less energy than other destruction methods. Very nice to read! 👏 

👉️ Read more about this deal here.

+ Seed funding stories:

🇳🇴 Oslo-based AgriTech startup Avisomo raises €5 million to advance its automated vertical farming technology for sustainable local food production.

🇬🇧 Sheffield-based robotics software company BOW raises €4.7 million to simplify robot programming and advance portable robotics applications.

🇮🇪 Irish sports tech startup Output Sports raises €4.6 million to enhance its software for elite-level sports science.

🇪🇪 Tallinn-based smart charging platform Gridio raises €2.4 million to expand its EV and energy device charging technology across Europe.

🇩🇰 Copenhagen-based startup Hybird Energy raises €2.4 million to advance its AI-powered electrical panels and address Europe’s energy crisis.

🇳🇱 Amsterdam-based startup Agurotech raises €2.2 million to scale its data-driven agriculture technology and support a more sustainable global food system.

🇩🇪 Berlin-based SaaS startup Menlo79 raises €2.1 million to expand WILSON, its cloud-based workforce management platform for rail and logistics.

PRE-SEED
Paris-based GetVocal AI raises €2.7 million pre-seed to enhance its AI-powered agents that automate customer interactions

🇫🇷 Paris-based startup GetVocal AI has raised €2.7 million to enhance its AI-powered agents for business tasks like customer service and onboarding.

Founded in 2023 as a fully remote company, this startup helps businesses automate customer service processes using advanced Conversational AI phone agents. In addition to leveraging LLMs, the startup claims to have developed its own proprietary “conversational map graph-based technology”.

The voice-related LLM market is growing rapidly, with the global speech and voice recognition sector projected to reach $84.97 billion by 2032 at a 23.7% CAGR.

👉️ Read more about this deal here.

+ Pre-Seed funding stories:

🇭🇺 Budapest-based startup Kodesage raises €2.3 million to advance its AI-powered platform for modernizing legacy software.

🇬🇧 UK-based solar tech startup GRYD Energy raises €1.1 million to grow its team and expand its solar subscription service with flexibility offerings.

🇧🇪 Brussels-based startup Pleevi raises €1 million to expand its AI-driven smart EV charging technology across Europe.