Amid lockdown relaxations, the European tech startup ecosystem has started shifting its focus on growth and expansion. Several tech startups have hit the headlines as these have secured funding; with a big chunk of the investment being utilised for scaling up, product development, and recruitment.
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.
Decentralised Finance
California-based Multis – a startup that uses DeFi (Decentralised Finance) to provide companies with financial services, has raised $2.2M in seed round funding. The investors include White Star Capital, YCombinator, Coinbase Ventures, Monday Capital, SGH Capital, eFounders, Greenfield One, and Digital Currency Group.
The company was founded in 2018 and created at eFounders (the startup studio that launched Front, Aircall, Spendesk) by Thibaut Sahaghian and Theophile Villard. The fresh capital will fund the ongoing development of Multis’ premium offering, which will include Euro and USD accounts and modern payment solutions such as wire transfers and debit cards. Multis is continuing to hire aggressively across product, engineering, and growth.
Cybersecurity company specialising in digital footprint
Netherlands-based Cybersprint, a cybersecurity company specialising in digital footprint, has raised fresh funds. Several existing shareholders in the company, including InnovationQuarter, Vortex Capital Partners, and KPN Ventures, have nearly doubled their investment with an additional €1.75M. The raised capital will be used to accelerate Cybersprint’s growth.
The company was founded in 2015 by Pieter Jansen. Cybersprint empowers cybersecurity professionals, from CISO to analyst, to prioritise relevant risk. Cybersprint’s platform allows you to manage risks like 3rd party risk, cybercrime, brand abuse, data theft, and more. Using dynamic, continuous digital footprint monitoring and detection, it offers visibility, from risk to root cause and remediation. The platform’s AI correlates dozens of data sources, uses a multitude of scanners, to make risk relevant.
Digital healthcare provider
A Netherlands-based digital healthcare provider, HomeDoctor has raised €3.7M in its Series A round of funding, led by Cogito Capital Partners with participation from the company’s founders. The raised capital will be used to continue the growth of HomeDoctor’s operations in Poland, building its team and capacity in order to further expand geographically and build strategic partnerships for scaling-up its offering and market reach.
Founded in 2016 by Szymon Horaczuk, HomeDoctor provides online medical consultations and delivery of healthcare services to patients’ homes. The company is operating as a B2B2C and a B2C medical services platform that enables delivery of both, online & phone consultations (telemedicine channel) and booking a doctor appointment (home visit). The company is also a partner for the largest medical centres and insurers in Poland.
Helps finance tech courses via loans
A London-based startup Knoma, a company that helps finance tech courses via loans, has launched after raising more than £21M (approx €23.1M) in debt and equity funding from Global Founders Capital, Rocket Internet, Fasanara Capital, and Seedrs. Reportedly, angel investors such as LendInvest chairman Christian Faes also participated in this round.
Founded in 2019 by Brett Shanley, Knoma offers a finance solution and marketplace for lifelong learning. The business is tackling the digital skills gap as the global economy shifts into the fourth industrial revolution. The platform helps people who are looking to future proof their career or move into new areas of work by reducing the barrier of payment and removing the pain point of sourcing technical courses. All users can gain access to up to £10,000 (nearly €11,000), where the cost of a course can be spread over 12 months with flexible repayments.
Acquisition for digitally-powered logistics solutions
Via, a company that provides digital infrastructure, has acquired Fleetonomy – a developer of advanced fleet management software. The acquisition accelerates Via’s expansion beyond public transit and strengthens its ability to meet increasing global demand for efficient, flexible solutions for logistics and delivery.
Via’s technology is currently used by more than 150 cities and transit operators across the globe to power intelligent transit and, increasingly, delivery platforms. The need for essential transit services and goods delivery has continued to grow during the pandemic. Therefore, Via plans to apply Fleetonomy’s technology and expertise in demand prediction and fleet utilisation to advance its digitally-powered logistics solutions.
Beautytech startup dedicated to melanin-rich complexions
London-based beautytech startup, 4.5.6 Skin, has raised €700K in its seed round of funding from Be Angels and French entrepreneurs, as well as launching the retail debut of its first skincare line. The company will use the funds to further invest in R&D including testing, and production. It also plans to recruit industrial production specialists as well as sales and customer care specialists.
Founded in 2019 and led by Noelly Michoux, 4.5.6 Skin caters to skin phototypes IV, V, and VI, otherwise known as melanin-rich skin. Skin phototypes are used to describe varying levels of pigmentation. Those with phototype l typically have the fairest complexion, while type Vl refers to the darkest level of skin pigmentation.
Its new 6-step range offers a customised treatment of factors such as dryness, excess sebum production, acne, hyperpigmentation, and dullness, as well as strengthening the skin barrier, thus making it more resilient.
€258M for European SMEs
French-based fintech startup, October, has raised some fresh funds to invest in small and medium companies on its lending platform. Overall, the company has gathered $300M (nearly €258M) from various partners that will be deployed over the next few years.
Founded in 2014 by Benjamin Netter, Olivier Goy, October will use the raised capital to add new products to its range, including a classic loan product that will allow for additional financing of €20M for small & medium-sized businesses around Europe, and a product for the tourism sector that will allow for €38M financing from six major insurance companies and the CDC (Caisse des Dépôts) in France, in order to help reopen tourism needs. The startup was previously called Lendix.
AI-powered talent acquisition
CareerBuilder sold its ownership of Amsterdam-based AI-powered HR technology provider Textkernel to Main Capital Partners. As part of the transaction, CareerBuilder and Main Capital Partners have formed a multi-year strategic partnership allowing the organisations to continue to work together to innovate and deliver world-class, AI-powered solutions in the talent acquisition space.
CareerBuilder and Textkernel will continue to work together, and have agreed upon a longer-term partnership plan and license agreement. Textkernel provides AI-powered technology, which improves the talent acquisition and management solutions of over 1,000 customers globally. It’s flagship product, Search! & Match!, connects candidates to jobs by leveraging ever-sophisticated algorithms that identify multiple means of making potential matches.
Featured image credit: Rawpixel.com/Shutterstock
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