European Tech Weekly (Series A & beyond) - Week 20 + Survey
13 selected European funding rounds announced last week
Welcome to the latest edition of European Tech Weekly, a newsletter that provides a weekly summary of Series A+ funding rounds in Europe.
About the author - my name is Chirag Modi and I am a tech investor at Atomico, a multi-stage VC fund. I back exceptional founders at Series B and beyond in Europe and the US and would love to discuss potential opportunities/partnerships. You can reach me at chirag@atomico.com or on Linkedin.
European Funding Rounds Survey
VC funding dynamics are currently changing at a very fast pace and pricing is unclear to founders as well as investors. I am conducting an informal survey to better understand metrics/multiples paid on recent European funding rounds. You can submit deals in an anonymized manner and I will share the results in the next edition of European Tech Weekly.
Funding Announcements in Europe by Stage
Note: Minimum deal size of $10m; also includes large seed rounds; excludes several sectors such as biotech; non-exhaustive
Company Profiles - Series A
Elwood (Fintech | $70m Series A | UK | GS, Dawn Capital)
Founded in 2018 and headquartered in the UK, Elwood is a platform providing institutional-grade access to digital asset markets and liquidity venues. It raised $70m in Series A funding co-led by Goldman Sachs and Dawn Capital.
“Elwood’s seamless end-to-end OMS/EMS/PMS platform provides low-latency connectivity to global crypto exchanges and deep liquidity via one single API. Built by industry experts with decades of combined experience in alternative investment management, Elwood Technologies provides market infrastructure at scale, enabling financial institutions, neobanks, and corporations to access the digital assets market quickly and efficiently.”
“Elwood will deploy the funds to meet the needs of its rising number of institutional clients by expanding both the Company's breadth of product offerings and its global operations.”
Sources: Press release
2. Everstream Analytics (Germany / US | $24m Series A | Software | Morgan Stanley IM)
Founded in 2012 and headquartered in Germany / US, Everstream Analytics is a supply chain insights and risk analytics startup. It raised $24m in Series A funding led by Morgan Stanley Investment Management.
According to Techcrunch, "Everstream’s AI-based models and preset dynamic thresholds can be used to predict disruptions and prescribe recommendations to mitigate risk and deliver better results to the business needs," Gerdeman added. "[Everstream] identifies the most impactful risks in the network and creates targeted insights based on inputs from the ... platform, including incident monitoring, predictive risks, ESG, and shipment data -- slashing time, cost, and complexity."
“Everstream, which employs 100 people, has raised $70 million in equity and debt funding so far. It claims its customer base has grown 550% to date in 2022 and now includes brands like AB InBev, Google, Bayer, Schneider Electric, Unilever and Whirlpool.”
Source: Techcrunch
Disclaimer
This post and the information presented are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and affiliated persons and companies assume no liability for this information and no obligation to update the information or analysis contained herein in the future.