London-based InReach Ventures raises €53M fund, uses AI to find best European startups

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London-based venture capital firm InReach Ventures has just declared the closing of new €53 million funding for European tech startups. The VC firm was founded in 2015 by Roberto Bonanzinga (former Balderton Capital General Partner), Ben Smith (former U.K. Engineering Director at Yammer) and John Mesrie (former General Counsel at Balderton Capital).

AI-powered efficient flow of capital

InReach Ventures through its AI-driven technology — ‘DIG’ — facilitates potential startups with smart channeling of funds. Till date, the company has empowered eight startups including Oberlo (Lithuania), which was later acquired by Shopify, Soldo (Italy/UK), Tutorful (U.K.), Shapr3D (Hungary), Traitly (Sweden) and Loot (Germany).

Aims to support promising startups across Europe

InReach will invest the new fund in innovations across Europe, especially in sectors like consumer internet, software as a service and marketplaces.

InReach co-founder Roberto Bonanzinga shared, “We are geographically agnostic and will invest in companies anywhere in Europe, from Helsinki to Barcelona, from Warsaw to Rome. In most cases we will be the first institutional investors and our first cheques will be between €500,000 and €2 million.”

InReach Ventures explores the perspectives of entrepreneurs and kindles their ideas for innovation.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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