European Tech Weekly (Series A & beyond) - Week 22
14 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.
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
Upway (Marketplace | $25m Series A | France | Exor Seeds, Sequoia)
Founded in 2019 and headquartered in France, Upway is a marketplace for reconditioned e-bikes. It raised $25m in Series A funding co-led by Exor Seeds and Sequoia.
According to Techcrunch, “the startup provides a seamless experience for buyers who want to buy an electric bike but don’t want to pay the full price of a new electric bike.
Behind the scenes, Upway buys electric bikes from both consumers and companies. The team brings those bikes to its warehouse, checks them, repairs them in some cases and lists them on their website. Of course, Upway tries to generate a small margin on every sale.”
“Right now, the startup operates in its home country France and Belgium. Upway will soon launch its marketplace in Germany, the Netherlands and the U.S. By the end of 2022, the company will have three different warehouses.”
Sources: Techcrunch
2. Dalma (France | $16m Series A | Fintech | Northzone)
Founded in 2021 and headquartered in France, Dalma is a tech-enabled pet insurance provider. It raised $16m in Series A funding led by Northzone.
According to Tech.eu, “the startup will use the capital to launch an app that will aggregate new services beyond insurance: unlimited video calls, direct payment to vets, personalized content, an e-commerce marketplace that will allow pet parents to find day-to-day pet products in two clicks via the app, empowering pet parents to take care of their pets easily with affordable products. The company also plans to expand to new markets across Europe, starting with Germany by the end of the year.”
According to Sifted, “Dalma says it has generated €6m in revenue from 20k customers in just 12 months.”
3. Getquin (Fintech | $15m Series A | Germany | Portage Ventures)
Founded in 2020 and headquartered in Germany, Getquin is a social network for investors. It raised $15m in Series A funding led by Portage Ventures.
According to tech.eu, “the platform provides an online community where people can discuss and analyze stocks, cryptocurrencies, and other investment opportunities. It allows users to connect and aggregate their existing brokerage accounts, create and consume content and take part in discussions with other users.”
“With over 200, 000 users in Germany and the DACH region as of now, the startup aims to expand its English-speaking community to make its service accessible to a broader user base.”
Sources: Tech.eu
4. Code Intelligence (Germany | $12m Series A | Software | Tola Capital)
Founded in 2018 and headquartered in Germany, Code Intelligence is an application security testing platform. It raised $12m in Series A funding led by Tola Capital.
Code Intelligence is an automated fuzz testing solution for applications and APIs and is easy for developers to use in their existing workflows. According to Techcrunch, “as of now, Code Intelligence’s self-serve platform remains in closed beta and the company is still working closely with its enterprise customers to onboard new teams. Over time, though, the plan is to automate all of this and launch a self-service platform.”
Source: Techcrunch
5. Recup (Other | $13m Series A | Germany | Various)
Founded in 2016 and headquartered in Germany, Recup offers a reusable system for to-go packaging. It raised $12m in Series A funding led by various investors.
According to Startbase, “Recup offers recyclable cups and bowls at various serving points. In cafés, restaurants, and canteens, customers can borrow and return the reusable packaging for a deposit. The aim of the concept, they say, is to do away with single-use packaging and to raise society's awareness of the issue of packaging waste. According to the company, it already has 12,000 partners. These include companies such as Shell, Alnatura, Denn's, and Aral.”
Sources: Startbase
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.