Can a unified EU capital market boost startup funding?
France pushes for harmonized financial regulations to enhance European startup investment.
👋 Hello, I'm Davide and this is my weekly newsletter Seed Europe. Every Monday, I dive into what happened over the past week, highlighting key news, recent funding rounds, and newly announced venture capital funds.
🏦 1. France advocates for unified EU capital market
France is pushing for the integration of EU capital markets to improve startup funding, currently lagging behind the U.S. The goal is to harmonize financial regulations across Europe, facilitating deeper and more accessible capital markets. This would help startups, like Mistral AI, that require substantial investments. France also suggests that public sector investors may need to assume higher risks to support these startups. A unified market could incentivize European companies to list domestically, boosting regional investment.
🔋 2. Clean Energy Ventures raises €281M Fund
Clean Energy Ventures (CEV), a leading venture capital firm specializing in early-stage climate tech, has closed an oversubscribed €281 million fund. This new fund will support innovative startups in Europe and Israel, focusing on decarbonization technologies. CEV has opened a London office to further its investment in the region.
Investments in climate ventures in Q1 2024
In Q1 2024, climate tech investments globally were dominated by five giga-rounds exceeding $1 billion each, led by companies such as Northvolt and H2 Green Steel. These significant investments focused primarily on capacity expansion and facility construction. Non-dilutive capital, particularly debt financing, played a crucial role, indicating a shift towards tangible solutions. Europe saw substantial activity with increasing investor participation in mega-rounds, boosting the region's climate tech recovery.
🇮🇹 3. Academo secures €215M for Milan campus
Academo, a joint project by Lendlease and Equiter Infrastructure II, has secured €215 million in financing from the European Investment Bank (EIB), InvestEU, and Cassa Depositi e Prestiti (CDP). This funding will support the construction of a state-of-the-art academic campus in the Milano Innovation District (MIND). The new campus, designed to accommodate over 23,000 people, aims to be Italy's first net-zero carbon academic facility and achieve GOLD-level LEED certification for energy and environmental standards.
🚀 Last week's funding rounds
🔍 This week, we focus on AI startups around Europe.
🇮🇹 Italian SaaS startup Zefi.ai, founded by Aurora Maggio, Alexandros Fokianos, Daniele Borlizzi, Leonardo Vezzati and Nicola Sebastianelli has raised €1.6 million in a round led by 360 Capital and 14Peaks Capital. ZeFi uses machine learning-powered data analytics to help businesses understand customer interactions, reduce churn, and boost loyalty.
🇮🇪 Dublin-based inspeq ai, co-founded by Apoorva Kumar and Ramanujam MV, has raised $1.1 million in funding led by Sure Valley Ventures and Delta Partners Ltd.. The startup provides a full-stack AI operations platform to support developers in testing, evaluating, and monitoring generative AI applications.
🇩🇪 Berlin-based Faircado, co-founded by Evoléna de Wilde d'Estmael 🌱 and Ali Nezamolmaleki, has raised €3 million in a pre-seed funding round led by World Fund, with contributions from Slush VC's, Impact Shakers,BackBone Ventures, Earlybird Venture Capital and others. Faircado offers an AI-powered browser extension that helps users find second-hand alternatives while shopping online.
🇨🇿 Prague-based Product Fruits, co-founded by Karel Papik and Ladislav Šalom, has secured $1.6 million in funding from Reflex Capital SE. The startup offers an AI-powered customer onboarding platform that creates customizable user onboarding workflows without coding.
You can find all the rounds announced here.
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💰 New funds announced
Rialto Ventures has launched a European hardtech venture capital fund with €55 million, aiming to support Series A stage B2B tech startups with potential for large-scale digital transformation.
Identity.vc has launched Europe's first LGBTQ+ venture capital fund with €50 million to support early-stage startups with LGBTQ+ founders or C-level executives.
The Ukrainian Venture Capital and Private Equity Association (UVCA) has launched a $300 million Fund of Funds aimed at strengthening the private equity, venture capital, and tech ecosystem in Ukraine.
Cambridge Future Tech has announced a $5 million fund to support early-stage deeptech startups, particularly those in the pre-incorporation to pre-seed stages.
🎟️ Startup events around Europe
ViennaUP | 🇦🇹 Vienna | 📅 3-9 June
Arctic15 | 🇫🇮 Helsinki | 📅 6-7 June
South Summit | 🇪🇸 Madrid | 📅 5-7 June
Digital Enterprise Show | 🇪🇸 Malaga | 📅 11-13 June
London Tech Week | 🇬🇧 London | 📅 10-14 June
The Next Web Conference | 🇳🇱 Amsterdam | 📅 20-21 June
💼 Looking for a job?
Here some interesting open positions:
OLMA Capital Management | VC Analyst Intern | 🇫🇷 Paris
Riverside Acceleration Capital | Analyst | 🇩🇪 Cologne
BlackWood | Investment Associate | 🇩🇰 Copenaghen
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