The technology sector is ever-evolving!
Numerous startups pop up every day! And existing startups/scale-ups find ways to rise to new heights.
At this pace, it is nearly impossible to cover every single development.
We at Silicon Canals aim to keep you informed about the latest happenings in the tech industry.
But let’s get real for a moment —sometimes we miss too!
So, this week, we’ve rounded up some of the stories that slipped through our radar from August 26th to 30th.
Catch up on the news that you might have missed.
Myceen raises €2M to decarbonise construction sector
Based out of Tallinn, Myceen is developing and producing mycelium-based building materials to fight the construction sector’s high carbon footprint. Mycelium-based insulation materials combine efficiency, cost-effectiveness, and sustainability.
Recently, the Estonian company raised €2M in grants and is also advancing a seed investment round of €1-1.5M. This funding will help bring their novel building materials to the market as they move to a larger production space.
In the next stage, Myceen will move into a pilot factory where it will develop and launch industrial production technology. This expansion will enable the company to broaden its product range and advance the commercialisation of mycelium-based building materials.
Ocean Oasis gets €6M to turn seawater into freshwater
Oslo-based Ocean Oasis is a cleantech startup that will turn seawater into freshwater using renewable wavepower to address water scarcity issues in the Canary Islands.
Recently, the Ocean Oasis-led consortium received a €6M grant from the EU. The company will use the funds to build the project and deploy the first fleet of Ocean Oasis’ offshore desalination buoys to provide water for 15,000 people in the Spanish island of Gran Canaria.
Ocean Oasis’ buoys produce freshwater using membrane-based desalination technology powered directly by wave-induced motion, with no need for grid power, any emissions to the atmosphere, and without chemicals on board.
Tiimo gets €1.4M to support teenagers with ADHD in schools
Born out of a research project to support teenagers with ADHD in schools, Tiimo was founded in 2015 by co-founders Helene Lassen Nørlem and Melissa Würtz Azari, who herself has ADHD.
Tiimo brings together time management and habit building in a visual planner, designed by and for neurodivergent brains.
The app includes an expansive learning section, helping people with invisible differences manage daily life and learn more about themselves through expert-led masterclasses, accountability tools, and productivity hacks.
Earlier this week, the company raised $1.6M (approximately €1.4M) in funding co-led by Crowberry Capital and People Ventures, with additional investment from Sweden-based Inner Foundations, which funds mental health-focused startups.
The team plans to use the additional funding to further its mission of transforming the lives of the 1B people worldwide with ADHD, autism, and other neurodivergent profiles.
The near-term focus will be on user growth, scaling existing markets, and product expansion for the new Tiimo Learn subscription.
Swiss-Mile raises €19.8M to address real-world challenges in mobility and manipulation
Based out of Zurich, Swiss-Mile is a deep tech spin-off from ETH Zurich that collects insights and eases labour by connecting AI with the physical world using autonomous machines.
The founders have enabled quadrupedal robots to walk, drive, stand upright on two legs, and manipulate packages with wheeled end effectors. This approach addresses real-world challenges in mobility and manipulation, driving the next wave of automation.
Recently, the company raised $22M in a seed funding round led by Jeff Bezos through Bezos Expeditions and HongShan.
This round also includes participation from the Amazon Industrial Innovation Fund and Armada Investment, with continued support from the existing investor Linear Capital.
Araya Ventures raises €9.8M to invest in early-stage startups
Arāya Ventures, led by Rupa Popat, announced this week that it has completed the first close of its Arāya Super Angel Fund — raising over €9.8M.
The fund aims to secure €22.5M to invest in early-stage startups across various sectors — health tech, fintech, climate, commerce, and the future of work.
High-profile investors include Bridgerton actress Charithra Chandran, former Credit Suisse CEO Phil Cutts, and former Browns CEO Holli Rogers, who participated in the round.
Arāya Ventures will use the funds to support pre-seed and seed-stage companies, with individual investments ranging from €180K to €490K.
The company plans to invest in up to 60 startups over the next four years.
moveXM acquires Inceptivize
moveXM, a SaaS provider for Customer Experience Management (CXM), announced the acquisition of Inceptivize.
Inceptivize is a Dutch SaaS provider for Customer Experience Measurement, specialising in customer feedback in the social housing sector.
The acquisition, supported by Pride Capital Partners, marks another a significant milestone in moveXM’s journey to meet the growing demand for user-friendly CXM solutions and, in particular, the specific needs of relevant market segments.
moveXM is a solution provider in the areas of Customer Experience Management (CXM), Employee Experience Management (EXM), and Review and Reputation Management.
moveXM’s software solutions enable companies to measure, analyse, and improve their customer and employee experiences throughout the entire journey.
PuriFire gets €3.2M to decarbonise the global shipping and chemicals industries
Cambridge-based PuriFire Energy specialises in the production of green hydrogen and green methanol to decarbonise the global shipping and chemicals industries.
Recently, the company closed a £2.7M (approximately €3.2M) funding in seed round investment led by HICO Investment Group with participation from Bulnes Capital, R&R Investments, and Abhishek Desai.
In 2019, Dr Matthew Pearce founded PuriFire, a climate-based startup based in Cambridge, UK.
The company will combine the seed investment with a £525k grant from Innovate UK to set up a unique pilot project by mid-2025 to convert anaerobic digestion liquid digestate and other wet feedstocks into green methanol using PuriFire’s patented technology.
Assetbird raises €2.4M to help B2B real estate investors
Based out of Berlin, assetbird develops software that helps B2B real estate investors to digitise their acquisitions efficiently.
The AI-supported software automatically captures, exposes and documents centralises the deal pipeline and teamwork, making evaluating market data easy.
The German company, founded by Tobias Dochow, Nico Kramp, and Christian Sauer, recently raised €2.4M in financing from 468 Capital and IBB Ventures. The money will be used to expand the platform and the team.
ebate software acquires e-bate Limited
In a recent development this week, ebate Software Limited has acquired e-bate Limited.
ebate Software Limited was formed from Evolved Ideas, a UK provider of bespoke software development, technology consultancy, and staff augmentation services.
Founded in 2019, e-bate Limited offers software solutions that help organisations across various sectors, including automotive, pharma, retail, and construction, to manage complex and high-value rebate programs.
With this acquisition, ebate Software Limited aims to revolutionise rebate management, making it more modern, efficient, focused on financial outcomes, and data-driven overall.
LegitFit raises €1.74M to advance its gym management software
Founded by Ryan O’Neill, Gearoid Collins, and Ian O’Sullivan, LegitFit is a gym management software company that aims to connect customers with physiotherapists, massage therapists, personal trainers, and fitness classes.
Recently, the company raised €1.74M from Business Venture Partners (BVP) through EIIS, Delta Partners, and TechStars, with participation from Delta Partners and TechStars.
LegitFit will use the funds to accelerate expansion in the UK and other markets, including the US, Australia, and New Zealand.
Moxso gets €1.5M to help company from cyber threat
Based out of Copenhagen, Moxso specialises in providing an AI-based phishing simulation and awareness platform designed for cybersecurity training.
The company’s tool empowers organisations to strengthen their defence against cyber threats by making their employees the first line of defence.
Recently, the Danish company raised €1.5M to accelerate its growth and fuel innovation in human-layered cybersecurity.
Seat Unique gets €17.2M for its ticketing platform
Based out of London, Seat Unique is a provider of premium tickets and experiences for live music, sports, and cultural events.
Recently, the company raised £14.5M (approximately €17.2M) in an extended Series A funding round led by Nickleby Capital. The company will use the funds to further develop its platform, expand into new sectors, and deliver even greater value to both fans and rights holders.
