2023 is now well and truly underway. As January closes and we move into February, we’re taking a look back at what happened this month across Europe’s startup ecosystem.
Coming into 2023, there was a deal of scepticism and worry about finances. Faced with a global economic downturn, VCs tightening their bank accounts, costs spiralling and a degree of pessimism, many of Europe’s startups have come into 2023 with an understandable quality of conservatism and hesitancy to risk.
Despite this, there are still signs of growth – and so far, resiliency is what is standing out.
We found that over the course of January, over $2 billion was raised by European over 168 transactions. You can keep an eye on weekly funding by checking out our weekly funding roundup, an EU-Startups Club exclusive. Alongside this, VCs and thought leaders have spoken about the importance of perseverance, resilience and confidence during these rollercoaster times. It’s something we can learn from emerging markets (as we explored in this article). We also got insights from Andrés Dancausa, Fund Partner EMEA at TheVentureCity on how to stay attractive to VCs and chatted to Capachase founder Miguel Fernandez Larrea about what’s in store for venture capital this year.
Here, we put a spotlight on the biggest and most eye-catching fundraises this month. First, take a look at 10 of the biggest VC-backed rounds (for startups founded post-2012) before turning the spotlight to those smashing it on crowdfunding platforms.
10 biggest funding rounds
- Berlin-based Enpal (founded in 2017) raised €215 million to provide solar power systems for homeowners. The round was led by: Activate Capital Partners, The Westly Group and TPG.
- London-based One Moto (founded in 2016) bagged €140 million for its impact-driven electric vehicle ecosystem that specializes in commercial delivery and everyday commuters.
- Oxford-based Oxbotica (founded in 2014) secured €130 million to take its autonomous vehicle software worldwide.
- Warwick-based Onto raised €113 million for its electric vehicle subscription startup that provides an all-inclusive, hassle-free solution for driving an electric car. The round was led by: Caisse de Depot et Placement du Quebec and Pollen Street Capital.
- Paris-based PASQAL (founded in 2019) landed €100 million to advance the future of quantum computing. The round was led by the investment company Temasek Holdings.
- Vienna-based Gropyus raised €100 million for its goal of creating sustainable living for everyone. The round was led by the German Housing company Vonovia.
- Barcelona-based Wallapop (founded in 2013) landed €81 million for its hyper-local mobile marketplace for buying and selling secondhand goods. The round was led by Korelya Capital and the Korean search engine and e-commerce platform Naver. Wallapop’s CEO, Rob Cassedy will be joining us at this year’s EU-Startups Summit!
- London-based Little Houses Group (founded in 2021) raised €80 million to design purposeful family clubs and Ofsted-registered nurseries that are warm, accessible, and inclusive. The round was led by the growth capital investor Imbiba.
- Rostock-based Zasta (founded in 2017) picked €60 million for its leading platform for assisted tax preparation in Germany. The round was led by United Volksbank Raiffeisenbank.
- Amsterdam-based Creative Fabrica (founded in 2016) raised €56 million for its marketplace used to offer fonts, graphics, crafts designs, and premium content created for crafters. The round was led by the Venture investments firm Alven.
- Bussum-based medical device company bringing to market the first portable hemodialysis device NextKidney, founded in 2021, raised €4.1 million in a crowdfunding campaign via Oneplanetcrowd.
- London-based technology that offers development for the 3D Printer industry Co Print, founded in 2019, raised €1 million in a crowdfunding campaign.
- Vegan dog food brand Omni launched a crowdfunding campaign and hit its £400K target in just 15 minutes after going live.
- Edinburgh-based Online platform connecting students with property Student Rents, founded in 2020, scored €525 k in a crowdfunding campaign via Crowdcube.
- Flawil-based leader in last mile e-mobility solutions SoFlow, founded in 2015, raised €585 k in a crowdfunding campaign.