In Europe’s daily deals we bring you a roundup of the startup fundraises happening on the continent, as they happen. Today, French insurtech Neat tops the chart with a €50m Series A followed by a €20m Series B raised by AI legaltech Jus Mundi.
We’ll be posting an article like this every weekday, covering the most eye-catching rounds we’ve seen, starting from €1m. If you have news to share, please email news@sifted.eu with a clear embargo.
Today’s startup deals:
Bordeaux, France-based Neat, an embedded insurance provider, raised a €50m Series A. Hedosophia led the round and was joined by Mundi Ventures, ETFS Capital and Athletico Ventures. The round is made up of €30m in equity and €20m in debt, according to Techcrunch.
- This is the second French insurtech startup that has raised a funding round lately — Korint, a Paris-based insurtech, raised €5m in seed funding last week.
Cambridge, UK-based PhoreMost, a drug discovery startup targeting ‘undruggable’ diseases, raised a $12m Series B extension, taking its total to $50m. Parkwalk Advisors led the round and was joined by BGF, Amadeus Capital Partners, Astellas Venture Management and Dr Jonathan Milner.
Paris-based Jus Mundi, an AI-based legaltech, raised a €20m Series B. Acton Capital led the round and was joined by True Global Ventures, C4 Ventures and FJ Labs.
- Jus Mundi is one of many legaltech startups taking advantage of recent developments in GenAI. Others in this space include Leya, LegalFly, Robin AI and Luminance.
London-based tem., a B2B renewable energy startup that allows businesses to buy energy directly from renewable generators, raised a £10.5m Series A. Atomico, which announced $1.24bn in new capital across two funds this week, led the round and was joined by AlbionVC, Revent and several angel investors including Holly and Sam Branson, and Wise CTO Harsh Sinha and CPO Nilan Peiris.
- As part of the round Atomico partner Terese Hougaard will join tem.’s board.
Glasgow, Scotland-based Solasta Bio, which develops green insecticides, raised a $14m Series A. Forbion, FMC Ventures and Corteva led the round and were joined by Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise UKi2S, SIS Ventures and the University of Glasgow.
Juna, Germany-based Quantum Optics Jena, which specialises in quantum encryption technology, raised an €8.5m Series A. Join Capital led the round and was joined by ELAS Technologies and Fraunhofer Technologies-Transfer Fonds.
Rotterdam, Netherlands-based Spatium Medical, a startup which specialises in insufflation technology for surgeons, raised €5m in funding from InnovationQuarter, Demcon Investment Fund, Van Herk Ventures and Swanbridge Capital.
- The company is a spinout from Erasmus University Medical Center.
London-based Ogre AI, a forecasting and management platform for the energy sector, raised €3m in funding. VERBUND X Ventures led the round and was joined by Early Game Ventures, Soulmates Ventures, MMC and Sofia Angels Ventures.
Oslo-based Vind AI, a startup developing an online platform for wind project design, raised a €3m seed round. Norrsken VC led the round and was joined by Arkwright X and the founders of Spacemaker.
Stockholm-based Starhive, a no-code app builder, raised a $3m seed round. Node vc led the round.
- Node partners Andy Johnston and Henrik Tellving joined the board.
Amsterdam-based Churned, a startup developing an AI-driven customer success management platform, raised €2.5m in funding. Newion and Volta Ventures led the round and were joined by Goldfish.
Amsterdam-based Brineworks, which uses a seawater electrolyzer to decarbonise the aviation and shipping industries, raised $2.2m in funding. Pale Blue Dot led the round.
London-based Twin Science & Robotics, an edtech startup with focus on STEM education, raised £1.25m in funding. Soulmates Ventures led the round and was joined by APY Ventures.
