Funding

Opportuna has officially launched, unveiling its first investment strategy, with a target of $30 million. The fund will focus on direct venture secondaries and late-stage primaries, seeking to meet the rising demand for liquidity in the venture capital market.

Desia, an AI-driven intelligence and productivity platform for investment professionals, has secured $3.3 million in pre-seed funding, led by Dig Ventures. This funding will accelerate the development and scaling of Desia’s platform, with the goal of reshaping how the financial investment sector operates.

A recent study by claims automation firm, Sprout.ai, highlighted that 65% of insurance claims handlers have observed a rise in fraudulent claims since the onset of the cost of living crisis. Of those surveyed, 19% estimated that up to one in four claims now include fake or altered documentation, generated through AI and digital tools.

AxonJay, a deeptech AI company and multi-award winner, has secured €1.5 million in seed funding to scale its AI-assistants globally. Known for its Self-Machine-Learning Platform, AxonJay’s AI tools empower business leaders to make real-time decisions with 80% greater accuracy.

Last year was a record year for new business. According to NatWest’s New StartUp Index, more than 900,000 new companies were incorporated in the UK in 2023, representing 12% year-on-year growth.

Biotope by VIB, a biotech startup incubator and early-stage investor, has announced its fifth cohort of startups. From 11 teams participating in a three-week basecamp, three standout companies have been selected to receive €250,000 in funding, as well as tailored support and access to advanced laboratory, greenhouse, and pilot facilities through VIB and its partner network.

Oxford-based startup FluoRok has secured £7.7 million in an oversubscribed funding round to accelerate its scaleup, manufacturing, and commercialisation of cutting-edge fluorochemical reagents and battery electrolyte salts.

Finnish venture capital firm Innovestor announced new investments in three university spinouts, made through its €90 million Life Science fund. The companies – Polku Therapeutics, Kasvu Therapeutics, and Soihtu DTx – are working on innovative treatments for neurological conditions.

SEB pension funds have become a key investor in Estonian venture capital firm Superangel, significantly enhancing the firm’s second fund, which now reaches nearly €40 million. This capital will be directed towards innovative tech startups across Estonia, the Baltic States, and the Nordic region.

DeepDrive, an electric motor company known for its focus on efficiency, performance, and sustainability, has secured an oversubscribed €30 million Series B funding round. Leitmotif, an independent venture capital firm with a focus on decarbonisation investments in the US and Europe, led the round.

Turneo, a traveltech startup specialising in experiential hospitality, has announced the closing of a €2 million seed funding round. The round was led by Bessemer Venture Partners, with additional backing from Underline Ventures.

Turning an idea into a real product and protecting the associated intellectual property (IP) is not cheap, so how can you make your desired outcome into reality? Dr Florence Albert, Patent Attorney at Albright IP, looks at some options.

Swedish fintech company Savr has received additional funding from Incore Invest, a European investment firm specialising in growth-stage companies, strengthening their ongoing partnership.

US-based email security firm EasyDMARC has secured $20 million in Series A funding, led by New York-based Radian Capital. This investment represents a pivotal moment for the company as it aims to broaden its global reach and solidify its standing in the email security sector.

Smalt, a talent-supply and labour productivity platform for the energy transition, has secured €8 million in a pre-emptive seed funding round. The funding aims to accelerate Smalt’s growth in the tech-enabled solar sector for both commercial and residential markets, addressing labour supply challenges in Europe’s climate tech industry.

VidLab7, an AI-driven media suite aiming to transform sales processes with tailored video content, has secured €3.5 million in seed funding led by EQT Ventures, with contributions from notable angel investors.

Glasgow’s marketing technology startup, Triyit, secured an £850,000 investment from the Investment Fund for Scotland (IFS), overseen by Maven Capital Partners and backed by the British Business Bank, contributing to a total funding round of £1.1 million.

A new startup emerging from the ADAPT Research Centre for AI-Driven Digital Content Technology at Trinity College Dublin is set to revolutionise the content licensing industry with a cutting-edge AI-powered service.

Reverion, a company pioneering carbon-negative, reversible power plants, has secured $62 million in Series A funding, including non-dilutive capital. The round, which exceeded expectations, was led by Energy Impact Partners (EIP) and saw backing from Honda and the European Innovation Council Fund (EIC Fund).

EIT InnoEnergy, known for driving innovation in sustainable energy, has committed €1 million to LignEasy, a trailblazer in bio-based materials.