Several tech startups in Europe have started focusing on their growth after the relaxations of the pandemic crisis started coming into effect. And, many promising tech startups have secured funding to help focus on their growth and expansion.
European tech startups weekly
As a part of a weekly roundup, here is a list of some of the most important tech startups that have hit the headlines in Europe this week.
UK’s leading digital mortgage company Habito has secured a Series C funding of €38.6 million. This investment takes the overall funding raised so far to €69.7 million from major venture capital names such as Atomico, Augmentum Fintech, Mosaic Ventures, Regah Ventures, Ribbit Capital, mojo.capital, and SBI Group. In addition to this, Habito also becomes B Corp certified, which means that made a legal commitment to make it profitable for both the people and the planet. Notably, this is the first mortgage company in the UK to take this decision.
Habito was established by Daniel Hegarty in 2015. The startup has helped over 180,000 home buyers with its platform that analyses 20,000 mortgages from over 90 lenders for the best option for users via its proprietary algorithm. It works with the mission to make mortgages easier for all and give the best advice to become free from mortgage.
Hyper-realistic plant-based meat alternative
British startup THIS, which makes hyper-realistic plant-based alternatives for meat lovers has bagged €3.8 million after the launch of its Seedrs campaign. The investment round was led by Backed, Idinvest Partners, Five Seasons, Manta Ray Ventures, and Seedcamp. The company has surpassed the €2.2 million target, which it secured before the campaign was launched to the public.
Founded by Andy Shovel and Pete Sharman in 2019, THIS has come up with a product that mimics meat in texture, appearance, taste, and smell. This product uses soya beans and peas as the base and is produced sans causing any environmental or ethical impact. This start challenges legacy plant-based meal brands as it targets meat-reducers instead of vegans.
VR/XR for industrial use
Helsinki-based Varjo is a leader in developing industrial-grade VR/XR (Virtual Reality and Extended Reality) hardware and software. It has raised a Series C funding of €45.9 million from new investors such as Tesi, NordicNinja, and Swisscanto Invest by Zürcher Kantonalbank and existing investors such as Lifeline Ventures, Atomico, Volvo Cars Tech Fund, and EQT Ventures.
Varjo Technologies established by Klaus Melakari, Niko Eiden, Roope Rainisto and Urho Konttori aims to make the world’s first human-eye resolution product that works on VR/XR (virtual reality and mixed reality). This product is aimed at the industrial usage. It has already collaborated with technology firms such as Audi, Saab, Lilium, Airbus, Sellen, Volvo Cars and Volkswagen to optimise the headset as per their business and requirements.
The COVID-19 pandemic has resulted in a boom in the edtech industry. And, the London-based digital education platform BibliU has witnessed rapid growth during the past few months. This company has announced that it has raised over €550K as a part of the Series A extension funding round, which is backed by Angel Investment Network. It will use the investment for new technical hires to meet the demand from Universities.
BibliU was established by Daniel Engelke, Dave Sherwood, and Tao Mantaras in 2014. It provides digitised content from over 2,000 publishers including McGraw-Hill, Pearson, and Oxford University Press. It is licensed directly to universities that can provide access to students and include the expenses in the tuition fees.
Copenhagen-based Practio has completed an equity funding round with debt financing and loan conversion accounting to €8.2 million. The startup will use the latest funding to accelerate the development in the UK and expand into the German market later this year. From 2021, the healthtech startup will focus on expanding into the other countries.
Established in 2015 by Mads Mikkelsen and Jonas Nilsen, Practio has developed a digital healthcare platform, which lets pharmacies to become central points-of-care. Initially, its services include COVID-19 antibody testing and vaccinations. However, the company is yet to rollout the same widely. Notably, Practio is supported by PHOENIX group, a leader in the European healthcare industry.
Eco-friendly lift-sharing app
London-based SKOOT has secured over €1.7 million funding. The carbon negative lift-sharing app startup intends to use this funding to boost its mission to become an effective alternative to public modes of transportation. Also, it lets connect friends who drive with those who are in need of a lift. By changing transport habits, SKOOT operates with the mission to build a global social network that lets friends travel together in a carbon-negative way.
Founded in 2019 by Greg Gormley, Mark Stringer, Alex Browne, and Ashish Devi-King, SKOOT has been designed to tackle the societal mobility crisis, rising cost of motoring, COVID-related concerns of using public transport, and disappearing bus routes.
Main image picture credits: Habito