Who Got Funded? Week 10, 2024

Good morning ☀️ 

Monday! It's time for a deep dive into the most exciting startup funding stories from last week.

Estimated reading time: ⌛️  4 min 50 sec.

PRE-SEED
Stockholm-based eComID secures €2.75 million to address the complexities of returns in the fashion industry

🇸🇪 EComID, a startup focused on enabling online retailers worldwide to decrease return rates, has successfully completed a pre-seed funding round, raising €2.75 million.

The issue this startup is addressing seems very interesting to me. Last year, online returns cost the retail industry $3 trillion (!!!) and resulted in 100 million metric tons of CO2 emissions. It's definitely a major issue and a market worth looking into.

You can learn more about this deal here.

More pre-seed interesting stories:

🇩🇰 Danish climatetech NitroVolt secures €750K for green ammonia production.

🇬🇧 London-based fintech Nuke From Orbit raises €585k pre-seed to deliver smarter smartphone security.

🇩🇪 Berlin-based insurtech INSRD lands €500k pre-seed to reinvent business insurance and risk management.

SEED
Turin-based spacetech Kurs Orbital secures €3.7 million to democratise in-orbit servicing and logistics

🇮🇹 Kurs Orbital, an Italian startup focused on creating technology for servicing satellites in space, has announced securing €3.7 million in seed funding.

The startup was co-founded in 2021 by former director of Ukraine’s space agency Volodymyr Usov. The company relocated to Italy in 2022 after Russia invaded Ukraine and set up operations at the European Space Agency’s Business Incubation Center.

You can read more about this deal here.

More seed interesting stories:

🇺🇸 San Francisco-based Ema, creating a “Universal AI employee”, emerges from stealth with €22.8 million.

🇬🇧 Haiper emerges from stealth with €12.6 million seed for video-generative AI.

🏴󠁧󠁢󠁳󠁣󠁴󠁿 Edinburgh-based Wobble Genomics raises €9.9 million to accelerate a new wave of biotechnology innovations.

🇸🇪 Swedish biotech Cellcolabs secures €7.9 million for affordable stem cell production.

🇬🇧 London-based Fluent raises €6.9 million to make its AI-powered data analyst sweep across the workload.

🇨🇭 Zurich-based Cultivated Biosciences bags €4.6 million to make alternative dairy products appeal to its traditional consumers.

🇩🇪 Munich-based phelas snaps €4.1 million to spread renewable energy storage around Europe.

🇬🇧 Cogna's AI-powered SaaS raises €4.4 million to improve industry problem-solving.

🇬🇧 London-based Gridcog bags €3.8 million to track the best way to invest in the green transition.

🇬🇧 London-based StackOne gets €3.3 million to provide a real-time unified API for B2B SaaS companies.

🇮🇪 Dublin-based Legitify secures €1.5 million setting a new standard for online document certification and notarisation.

SERIES A
San Sebastian-based Multiverse Computing raises €25 million to enable quantum computing applications across industries

🇪🇸 San Sebastian-based Multiverse Computing secured €25 million in funding, led by Columbus Venture Partners, valuing the company at €100 million.

Wow, what this startup does is really fascinating. The company says its unique quantum-based method can make Large Language Models (LLMs) 80% smaller but equally accurate. If true, that could have large implications for how companies buy and use chips.

You can learn more about this deal here.

More Series A interesting stories:

🇫🇷 Paris-based Zama raises €67 million Series A to build privacy-preserving blockchain and AI.

🇺🇸 HR solution Remofirst raises €22.8 million Series A funding to make it affordable and easy to employ global remote teams.

🇺🇸 MoeGo, a Los Angeles, CA-based provider of a payments and scheduling platform for pet groomers, raised €21.9 million in funding.

🇩🇪 German Direct Air Capture startup Greenlyte raises €10.5 million to efficiently remove CO2 from the atmosphere.

🇫🇷 Paris-based Bene Bono gets €10 million to accelerate the fight against food waste at its source.

SERIES B AND LATER
Sunfire raises over €500 million to boost European's green hydrogen economy

🇩🇪 Dresden-based Sunfire, a leading provider of advanced electrolysis technologies, secured €215 million in Series E funding, adding investors like LGT Private Banking, GIC, Ahren Innovation Capital, and Carbon Equity.

In addition to the equity funding, the company secured a €100 million loan from the European Investment Bank and has access to approximately €200 million in unused grants, positioning them as one of the best capitalized electrolyser manufacturers in the market.

You can learn more about this deal here.

More Series B (and later) interesting stories:

🇬🇧 London-based digital bank Monzo raises €397 milion to fuel product roadmap and diversification strategy.

🇺🇸 Cybersecurity startup Axonius raises €182 million from returning investors.

🇳🇱 Amsterdam-based Mews bags €101 million to make hoteliers embrace cloud technology.

🇺🇸 Boston-based Overjet, a leading dental AI company, announced a €48.6 million Series C funding.

🇺🇸 San Francisco-based Baseten, an AI infrastructure provider, raises €36.5 million in Series B funding.

🇬🇧 Manchester-based Phagenesis secured €38.3 million in Series D funding for its swallowing disorder treatment system.