Undoubtedly, Europe is home to some of the bustling tech startup hubs in the world. With startup culture surging, Europe is regaining its lost ground by upping its game, not only in terms of innovation but with funding as well.
In this regard, we have come up with a roundup of 13 European tech startups that got the maximum funding this week. Let’s take a look!
Celonis (Funding – €263 million) – Munich
Celonis offers process mining technology that helps visualise, analyse, and improve company processes. A few days back, the German startup secured $290 million (approx €263 million) in a Series C round, raising the company’s valuation to $2.5 billion. Based out of Munich, this company was founded by Alexander Rinke, Bastian Nominacher, and Martin Klenk in 2011. As per the company, this funding will be used to accelerate sales and marketing operations in the US and to expand the platform as well.
Detectify (Funding – €21.5M) – Stockholm
Founded by Fredrik Nordberg Almroth, and Rickard Carlsson in 2012, Detectify offers a SaaS-based tool for security analysis of web applications. Based out of Stockholm, the company has secured €21.5 million in a Series B round. This Swedish web application security startup is planning to use the funding to continue to hire world-class talent to accelerate the company’s growth further.
Trouva ( Funding – €19.8M) – London
Trouva, the online destination for unique products from the best curators around the world, has raised €19.8 million to accelerate the expansion. Based out of London, this startup was founded in 2015 by Alex Loizou, Mandeep Singh, and Maxim Berglund. This platform bridges online and offline in retail to offer click and collect, 1-hour delivery, and worldwide shipping in a single seamless platform.
Healx (Funding – €18.1M) – Cambridge
Healx has committed $20 million (approx €18.1M) to its Rare Treatment Accelerator program and is now inviting applications from patient groups that would like to collaborate. Furthermore, Healx intends to invest up to the value of $1M in AI and drug discovery resources per disease project, out of the total budget of $20M. The British startup is an AI-powered and patient-inspired technology company, accelerating the discovery and development of rare disease treatments.
Buguroo (Funding – €11M) – Madrid
Specialised in the development of software for online fraud prevention, Buguroo has raised an €11 million Series A to expand its platform that protects against financial fraud and accelerate product development. This Spanish startup was founded by Pablo de la Riva in 2015 to develop cybersecurity and disruptive anti-fraud solutions.
Plantix (Funding – €6.6M) – Berlin
This German startup drives efficient agricultural production and has secured €6.6 million in a Series A funding. Based out of Berlin, this startup will use the funding to improve the AI-driven solution that offers a digital method for the automated detection of plant diseases. Also, this platform provides detailed advice on how to avoid crop loss and to optimise pesticide and fertilizer use. Founded in 2015 and led by Simone Strey, the app was developed in 2015 by PEAT GmbH.
Enway (Funding – €6M) – Berlin
Enway, a Berlin-based company that builds next-generation of cleaning services, raised €6M in seed funding. The company is planning to use the fund to expand its development efforts. Founded by Bo Chen, Julian Nordt, and Thanuja Ambegoda, in 2017, Enway builds the software that enables special purpose vehicles for cleaning, sweeping, and city services to operate autonomously.
Bokio (Funding – €4M) – Göteborg, Sweden
Bokio, the Swedish startup which utilises AI to simplify bookkeeping for small businesses, sole traders, and freelancers, has raised €4M. This funding round was led Creandum with participation from European financial group Svea, and an individual investment from Chris Adelsbach, Managing director of Techstars.
The company is planning to use the funding to scale its business in the UK and further develop its AI-based bookkeeping tool with more add-on service. Bokio was founded in Gothenburg, Sweden, in 2015 by its CEO Viktor Stensson and CTO Mikael Eliasson.
Rossum (Funding – €4M) – Prague and London
Based out of both Prague and London, Rossum is a deep learning startup that wants to create a world without manual data entry and has bagged €4 million to help more business with its AI-enabled extraction tool. It was founded by Petr Baudis, Tomas Gogar, and Tomas Tunys in 2017. The company is planning to use this funding to develop this technology, open office in the US, and continue to accelerate its growth globally.
VNX Exchange (Funding – €3M ) – Luxembourg
Founded by Alexander Tkachenko, VNX Exchange is an asset-backed token issuance and trading platform. A few days back, the Luxembourg-based company announced the launch of its platform and the first offering of asset-backed tokens at the Global Venture Summit in Luxembourg.
The first offering of €3 million was announced at the “Ring the bell” ceremony by Alexander Tkachenko, CEO and founder of VNX Exchange in the presence of Pierre Gramegna, Luxembourg Minister of Finance, and In-kyu Park, The Embassy of the Republic of Korea to the Grand Duchy of Luxembourg.
NewCompliance (Funding – €2.7M) – The Hague
Based out of the Hague, NewCompliance has raised $3 million (€2.7 million) in capital to finance expansion into the United States. For the uninitiated, NewCompliance provides insight into data about operations and thereby helps hospitals to perform the entire surgical workflow more effectively and safely.
Virgil (Funding – €2.1M) – Paris
Based out of Paris, Virgil, a property company, has €2.1 million in funding. Co-founded by Keyvan Nilforoushan and Saskia Fiszel, the company intends to use this funding to continue to expand operations. Virgil provides young professionals with the necessary deposit to buy an apartment.
In this regard, Virgil can provide up to €100K per transaction. For a 10% contribution, Virgil will own 15% of the apartment. However, the house owner can sell their apartment or buy back Virgil’s share after ten years.
Cloud Maker (Funding – almost €1M ) – London
Based out of London, Cloud Maker is a Visual DevOps platform that enables organisations to design and build scalable cloud solutions quickly. Recently, the UK startup has been named the winner of the UK Comet Competition, bringing them one step closer to winning a $1 million prize at the 2020 Cloud Summit Competition. Founded by Alex Metaxas, and Nick Smith, Cloud Maker, will compete in the global grand final to win $1million grand prize at Cloud Summit 2020 in Miami.
Main image credit: Bokio
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