Funding

dottxt, an emerging platform designed to enhance interactions with large language models (LLMs), has successfully raised $11.9 million across its Pre-Seed and Seed funding rounds, all within just over seven months.

autone, the AI-powered platform helping retailers transform their business through optimal inventory management, has raised a $17 million Series A funding round led by General Catalyst.

eBay has announced the global expansion of its Circular Fashion Fund (CFF), aimed at helping fashion startups scale circular solutions across the entire lifecycle – from production to disposal, including rental and repair services. Applications for the fund are now open and will close on 15th November 2024. Eligible startups and small businesses can apply via eBay’s website.

Zerve, a platform designed for data science and AI development, announced a seed round of $7.6 million, led by Paladin Capital Group. Other backers included existing investor Elkstone and notable angel investors like Rob Hickey, former Executive Vice President of Engineering at DataRobot.

Belgian biotech startup AmphiStar, known for its sustainable surfactant innovations, has been awarded a €2 million non-dilutive grant from SPRIN-D, the Federal Agency for Disruptive Innovation. This brings the company’s total funding for the year to €10 million.

Where You At (WYA), a female-founded app that enhances nightlife safety using indoor mapping and offline mesh technology to help users stay connected in crowded venues, has raised significant funding which has helped it make a huge impact in a short space of time.

INSHUR, a global embedded insurance provider for the on-demand economy, has secured $19 million in its latest funding round. This round was led by Viola Growth, with contributions from MS&AD Ventures and existing backers, bringing INSHUR’s total funding to $78.5 million.

Mountside Ventures, Europe’s pioneering accelerator and early-stage advisory firm, has announced their inaugural VC accelerator programme to empower emerging VC managers, The Emerging VC Manager Programme.

BGF, the UK and Ireland’s active growth capital investor, has completed a £6 million investment into Signify Research, a specialist health tech market intelligence provider.

Siloton, the Bristol-based health technology startup, has secured £860,000 to progress the commercial roll-out of its eye imaging chip technology, which could help address the UK’s most common cause of sight loss.

Round Treasury, an all-in-one banking and treasury platform built for founders and CFOs, has secured $2.1 million in a pre-seed funding round. Passion Capital, known for backing Monzo Bank, Tide Banking, and GoCardless, led the round, with additional investment from Tiny VC, Ascension, Samos Investments, and Entrepreneur First.

RedTrack, an AI-powered analytics and automation platform for media buyers, has secured $3.2 million in Series A funding, led by LeadVentures with backing from InstaVC, IronWolfCapital, and angel investor Balazs Gandera. RedTrack’s platform currently tracks 60,000 ad accounts, generating over $2 billion in revenue for more than 800 businesses, including ecommerce stores and marketing agencies.

Europe is at risk of missing out on innovative early-stage spacetech companies if it continues its current rate of capital allocation.

Toyota Motor Corporation has announced plans to inject $500 million into Joby Aviation, the electric air taxi developer, as part of a larger effort to bring air mobility closer to reality. The investment is aimed at supporting the certification process and scaling up the commercial production of Joby’s electric air taxis.

Proteine Resources, a biotech company based in Poland, has secured €1.36 million in funding from SMOK Ventures and Bitspiration Booster VC, bringing its total raised to €1.8 million. Focused on revolutionising the animal nutrition sector, the company is pioneering the sustainable production of insect protein, aiming for €62 million in annual revenue by 2030.

Gaia Learning, an online education provider, has achieved its largest funding milestone yet, securing £550,000 in venture capital. This significant investment will enable the company to expand its support for neurodivergent children across the UK.

Perlego, the subscription-based digital library offering unlimited access to academic content, has raised $20 million in a funding round led by former Tesco CEO Sir Terry Leahy. ITHAKA, the organisation behind JSTOR, also joined the round alongside investors such as MediaHuis, Raine, KPN Ventures, and the founders of Kahoot, bringing Perlego’s total funding to $75 million.

Building Radar, a software platform transforming sales workflows in the construction industry, has secured $7.2 million in new investment, led by Socii Capital. This funding will fuel the company’s continued AI-driven product development and help expand its market reach.

BGF has taken a minority stake in ER Productions, a leading company in laser production, pyrotechnics, and special effects (SFX).

OpenAI has announced the successful completion of its latest funding round, raising $6.6 billion at a post-money valuation of $157 billion.