The European startup ecosystem is full of interesting and exciting news, twists and turns. At EU-Startups, our aim is to keep you informed on everything that’s going on and share the inspiring entrepreneurial spirit this continent has to offer. From big funding announcements, duocorns picking up pace, to new partnerships and conscious collaborations – there’s never a dull day!
This week, climate tech continues to open up new opportunities, the foodtech appetite is growing and e-mobility innovators HumanForest are helping to take on food waste.
Launches and Expansions
- World Fund, Europe’s leading dedicated climate tech VC, announced that the UK Environment Agency Pension Fund (EAPF) is investing in its first fund, joining more than 200 investors including PwC and Ecosia in supporting the next generation of climate tech companies. Launched in 2021, World Fund is dedicated to only funding European climate tech startups that have the potential to save at least 100 metric tonnes of carbon dioxide emissions a year. World Fund’s portfolio companies include UK space tech Space Forge, Finnish quantum computing company IQM and German precision fermentation platform Planet A Foods
- Capchase, the New York-based provider of non-dilutive capital, announced its expansion in Germany. With recent announcements from the local government to mobilize €30 billion in local startups by 2030, the tech scene in Germany is expected to boom over the next several years, and Capchase want to be part of this.
- Lemonero has shared plans to expand into the Netherlands. They plan to invest hundreds of millions of euros in 2023 to support the growth of European e-commerce.
- Norselab announced its plans for a new Structured Equity fund, further strengthening its venture arm. The fund will offer a founder-friendly financing alternative that gives impact companies access to growth capital without giving up control.
- Atlantic Labs and FoodLabs, the leading European Early Stage Tech and FoodTech investor, announced the launch of “Founders for Climate”, the first European ClimateTech Entrepreneur In Residence (EIR) program. EIRs within the program will be able to explore and validate their ClimateTech business idea in order to build their own venture, with full support from the dedicated expert teams at Atlantic Labs and FoodLabs.
- London-based global fintech Unlimint announced the launch of GateFi, marking its expansion into the crypto space. The solution allows users across the globe to exchange fiat money to crypto and crypto to fiat money, while also acting as a Web3 onboarding solution, that opens the gates to Web 3 and DeFi for mainstream users everywhere.
- Bolt announced a new feature which will allow people to rent out their car on the mobility super app and earn a guaranteed monthly income. The ‘share your car’ feature will be available via Bolt Drive, the company’s car-sharing product, which was launched in 2021 and is currently live in Estonia and Latvia, with expansion plans to other European countries before the end of the year.
- A new blockchain-powered technology that protects ownership and tackles the growing blight of counterfeiting has been quickly adopted by businesses keen to protect themselves and their customers. UK-based DNA, which just launched, create unique digital passports which prove authenticity and ownership of jewellery, collectables, art, rarities and luxury goods.
- Indico Capital Partners, the Lisbon-based VC announced the launch of a €25 million Opportunity Fund exclusively for and fully subscribed by investors in previous Indico funds. Indico launched its 54M euro VCI debut fund at the beginning of 2019 and the Opportunity Fund announced today will invest up to an additional 5 million euros in the most promising 4 to 5 companies from VCI.
- Umetaworld, a project launched by a UK-based company, the virtual world of augmented cities and places, unveiled the launch of its NFT collection of rooms in its virtual replica of the real world. As part of the launch campaign, users will be able to mint a room in the Umetaworld Metaverse, import it into the Umetaworld app, and then fully customize it.
- VNX Gold token (VNXAU), launched by Lichtenstein-based VNX, the first European regulated tokenized precious metal platform, was listed on the global trading platform LBank, opening a new channel for crypto investors across Asia to easily buy and trade Gold backed tokens. LBank users will have access to VNX Gold tokens issued on Ethereum and Q blockchains.
- WNWN, the first to market with a foodtech alternative to chocolate, has expanded its Hackney Wick production facility to increase volume and supply CPG food companies with a more ethical alternative to commoditized cocoa. WNWN uses plant-based ingredients including organic carob and British barley—both sustainable and widely available, unlike cocoa—then tweaks it in the fermentation process to create alt-choc that tastes, melts, snaps, and bakes just like chocolate.
- CEMEX Ventures launched Leaplab – an exclusive accelerator program that brings together a cohort of high-potential startups in six countries to validate, enhance, and scale their solutions with the valuable resources, industry expertise, and global network of CEMEX.
Acquisitions and Partnerships
- Two of Sweden’s fastest-growing fintech companies, Froda and Yabie are entering into a new partnership to launch Yabie Loans, a new service for entrepreneurs looking to invest in their ideas and grow their businesses. The service is based on Froda’s tech platform Financing as a Service.
- Technology company ZeroNorth acquired Prosmar Bunkering AS, the online platform supporting the bunker fuel market. The acquisition will aim to accelerate digitalisation and transparency in the bunker industry and further support the decarbonisation transition within the marine value chain.
- Swedish companies Budbee and Instabox announced their intention to join forces. The deal combining the companies under the new holding company Instabee was closed after approval from the Swedish Competition Authority. This combination creates a new challenger, ready to take on the European market. Instabee can now start combining Budbee and Instabox’s pooled resources, expertise, and know-how to keep transforming last-mile deliveries and challenge traditional players across Europe.
- German startup Mosa Meat, a market leader in the cultivated meat sector that grows beef directly from animal cells, announced an agreement with Singapore-based cultivated meat manufacturer Esco Aster, to help to bring Mosa Meat’s cultivated beef to market.
- HumanForest decided to reconnect its environmentally conscious community with Earth & Wheat, to promote the need to reduce food waste and the positive impact it can have on the planet. The foundations of the partnership remain the same, with a natural alignment between HumanForest and Earth & Wheat due to their shared sense of mission and purpose in tackling the climate crisis.
- Sensei, the promising European retail technology scaleup, partnered with leading supermarket chain Muffato to open the first autonomous supermarket in Brazil. This is the first deployment of Sensei’s AI-powered retailtech outside of Europe and with 250 square metres of retail space is one of the largest autonomous stores in the world.
- Cabify partnered with Incode Technologies to enhance driver security with selfie identity verification technology. This strategic partnership will see Incode’s biometrics and digital identity technology integrated into Cabify so that passengers can validate their identity through a selfie, which instantly verifies the correspondence between the photo and the official documentation.
- Gravity Co partnered with a company called TechItalia to support Italian startups expand in the UK, enabling them to better understand the UK market for their businesses.
Milestones and Insights
- Voi Technology’s shared e-scooter schemes are helping to boost local economies in UK towns and cities by an estimated £53 million annually and supporting up to 1,400 jobs, according to the first independent report into the economic impact of the micromobility industry.
- Mountain trail running operator One Hundred successfully reached its crowdfunding target. So far, One Hundred has raised in excess of its £200,000 target, giving the company a pre-money valuation of over £4.2 million.
- EIT Health, supported by the European Institute of Innovation and Technology (EIT) – a body of the European Union – announced its support for two innovator teams following the 2022 Wild Card Programme.
- German startup, Bonescreen
- Italian startup NIB biotec
- Advertisement - 
