Analysis

January 20, 2025

These 11 European startups raised more than once in 2024

Six AI companies had VCs returning for second — and even third — helpings

Hessa Alabbas

3 min read

Eleven European startups raised multiple funding rounds (excluding extensions) in 2024, with Berlin carbon management specialist forward earth and Stockholm AI legaltech Leya both achieving the rare feat of closing three rounds each in a single year. 

A Sifted analysis found that six of the 11 repeat raisers in 2024 were AI startups, underlining the growing VC fascination with this sector and the huge investment needs of AI systems. Eight of the 11 were founded in 2023 or 2024. 

High-profile investors including Accel, Google Ventures and Speedinvest feature, with some returning to back the same startups twice in 2024. 

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Here’s the full 11 repeat raisers in detail:

1\ Tessl

HQ: London, UK
Description: AI tool that writes code

Funding rounds:

  • $25m seed in February led by Boldstart Ventures and Google Ventures
  • $100m Series A in November led by Index Ventures

Follow-on investors: Google Ventures, Boldstart Ventures

2\ Filigran

HQ: Paris, France
Description: cyber threat management platform

Funding rounds:

  • €15m Series A in February led by Accel
  • $35m Series B in October led by Insight Partners

Follow-on investors: Accel, Moonfire Ventures

3\ Leya

HQ: Stockholm, Sweden
Description: AI legal assistant

Funding rounds:

  • $500k accelerator funding in April from Y Combinator
  • $10.5m seed in May led by Benchmark
  • $25m Series A in July led by Redpoint Ventures

Follow-on investors: Benchmark, Y Combinator

4\ Granola

HQ: London, UK
Description: AI note-taking app

Funding rounds:

  • $4.3m funding round in January led by Lightspeed Venture Partners
  • $20m Series A in November led by Spark Capital

Follow-on investors: Lightspeed Venture Partners, Betaworks, Firstminute Capital

5\ Cogna

HQ: London, UK
Description: AI tool that writes enterprise software

Funding rounds:

  • £3.8m pre-seed in March led by Hoxton Ventures
  • €14.2m Series A in November led by Notion Capital

Follow-on investors: Hoxton Ventures, Notion Capital

6\ Distance Technologies

HQ: Helsinki, Finland
Description: manufactures glasses-free mixed reality solutions

Funding rounds:

  • $2.7m pre-seed in June led by FOV Ventures and Maki.vc
  • €10m seed in September led by Google Ventures

Follow-on investors: Maki.vc, FOV Ventures 

7\ HEPHAISTOS-Pharma

HQ: Orsay, France
Description: Cancer treatments

Funding rounds:

  • €2m seed in January
  • €4.5m seed in May led by Elaia Partners

Follow-on investors: Xista Science Ventures, Noshaq, Foundation Fournier-Majoie

8\ forward earth

HQ: Berlin, Germany
Description: carbon management platform

Funding rounds:

  • €1.2m grant in June
  • €2m pre-seed in June led by Speedinvest
  • €4.5m seed in October led by Mosaic Ventures

Follow-on investors: Speedinvest, Revent Capital

9\ Firsty

HQ: Amsterdam, Netherlands
Description: Mobile data packages for travellers

Funding rounds:

  • €1.1m pre-seed in January
  • €5.1m seed in November led by Dutch Founders Fund and Marcel Smits

Follow-on investors: Marcel Smits (Cargill executive)

10\ Gendo

HQ: London, UK
Description: GenAI platform for architecture and design

Funding rounds: 

  • $1.1m pre-seed in March
  • £4.3m seed in November led by PT1 and LEA Partners

Follow-on investors: Concept Ventures

11\ SportAI

HQ: Oslo, Norway
Description: AI coaching and analysis tool

Funding rounds:

  • €690k pre-seed in January 
  • $1.8m seed in August led by Skyfall Ventures

Hessa Alabbas

Hessa Alabbas is a data analyst at Sifted, based in London. You can find her on LinkedIn.