As the week draws to a close, it’s time to catch up on some noteworthy stories that may have flown under our radar. 

Here’s a quick roundup of key news highlights from September 23 to 27 that you might have missed.

Fundu secures €200M loan from Pollen Street Capital

Fundu, a company that claims to be Finland’s leading business loan platform, has secured a €200M loan financing arrangement from London-based Pollen Street Capital. 

The Finnish company aims to provide flexible and competitive financing for Finnish small and medium-sized enterprises (SMEs). Since its establishment in 2014, Fundu claims to have become a trusted financing partner, offering tailored, unsecured loan-based financing to meet the needs of these businesses.

The partnership with Pollen Street Capital enhances Fundu’s operational capacity and strengthens its position as a primary financing source for Finnish SMEs, contributing to the growth and development of the country’s financial sector.

Annegien Blokpoel wins Golden Aurora Award 2024

Dutch entrepreneur and investor Annegien Blokpoel has been awarded the Golden Aurora Award 2024, recognising her as Europe’s most influential female business angel. 

Organized by Business Angels Europe (BAE), the award was presented at the Inbound Investors Conference in Belfast, Northern Ireland.

Blokpoel’s investment portfolio spans startups across the Netherlands, Israel, Spain, the UK, Germany, and the US. With over 24 direct investments, including nine female-led companies, and 50 indirect investments, she is a leading advocate for gender diversity and impact-driven businesses focused on people and the planet.

Blokpoel says, “I am super proud of being honoured with the Golden Aurora Award, It is a confirmation for me that cross border investment cooperation between individual angels and business angels clubs creates benefits for the whole ecosystem. Around 75 per cent of my investments are outside my home country, and almost all  together with investors abroad.”

“If we can use the talents around the table smarter, we can support and fast forward our portfolio companies, creating a win-win for all. In the Catalyst Impact Investment Club that I founded last year, we have 50 per cent male and 50 per cent female investors from more than 10 countries on board. They are well connected in their own local angel/venture capital ecosystem. So we are pioneering in the creation of a more pan European way of investing, using smart and connected money in an impactful way, and connecting to the many great Angel Clubs to jointly invest.”

Jet Investment announces Venture Fund with €50M target

Czech Republic-based Jet Investment has officially launched Jet Ventures, a new venture capital fund targeting €50M to support industrial B2B startups across Central Europe. The fund aims to drive innovation in Czechia, Germany, Austria, Poland, and Slovakia over the next decade. 

As part of its initial investment, Jet Ventures has committed €1.25M to PARTORY, a Czech digital factory. This marks Jet Investment’s first venture into the venture capital space. 

With €600M in assets under management and nearly 30 years of experience in managing industrial companies and real estate, the firm claims to be well-positioned in the alternative asset market.

Led by Kamil Levinský and Roger Dorsch, the Jet Ventures team will focus on early-stage startups with established market presence and revenue growth. The fund aims to enhance the competitiveness of industrial companies by investing in technologies within the industrial sector.

Established in 1997, Jet Investment specialises in the Central European industrial market and manages four investor funds with a total of €600M (CZK 15B) in assets.

Fastned launches new bond subscription for network expansion

Fastned, an Amsterdam-based fast-charging company, has begun subscriptions for a new bond issue to finance its expanding charging network in existing and new markets. This move aligns with supportive European regulations aimed at boosting electric vehicle adoption.

In the first half of 2024, Fastned’s revenue surged over 45 per cent year-on-year, reaching €37.8M, with 62.7 GWh of renewable energy delivered to more than 411,000 customers. 

The number of electric vehicles in Europe is projected to increase from 4.5 million in 2023 to over 40 million by 2030. Fastned plans to establish 1,000 fast-charging stations by 2030.

This month, Fastned also achieved B Corp certification, reflecting its commitment to high social and environmental performance. In 2024, the company issued €61M in new bonds, securing the trust of over 10,000 bond investors. The new bond issue is available to investors in the Netherlands and Belgium. 

Fastned, listed on Euronext Amsterdam, aims to accelerate the transition to electric mobility while promoting renewable energy use.

New EU initiative boosts access to capital for Danish creative industries

A new collaborative initiative between the European Investment Fund (EIF) and Export and Investment Fund of Denmark (EIFO) aims to enhance access to capital for businesses in the design, game development, IT, music, filmmaking, and art sectors. 

Supported by the EU’s InvestEU initiative, which seeks to generate over €372B in additional investments by 2027, this agreement enables EIFO to offer loans backed by an EIF guarantee of up to DKK 300M for Danish businesses in creative and cultural professions.

The initiative addresses financial challenges within the creative and cultural sector by reducing rigid credit evaluations and expanding loan options, ensuring that funding does not hinder growth. 

Traditionally reliant on support programmes and subsidies, the creative industries can now leverage loans more effectively due to this new guarantee programme, potentially benefiting from interest rate reductions of up to 4 per cent compared to standard EIFO rates.

EIF invests €30M in European VC firm Wind

Wind, a European venture capital firm, has secured a €30M investment from the European Investment Fund (EIF) for its early-stage Article 9 fund, Wind II. 

This fund, which closed at €90M, will focus on developing deeptech solutions for essential services and infrastructure, addressing critical areas such as food, air quality, energy, and mobility. 

Wind II plans to invest in 30 startups, with ticket sizes ranging from €500K to €5M. The fund aligns with the European Green Deal, supporting climate adaptation and sustainability. 

Founded in 2015 by Thierry Vandewalle and Xavier Gury, Wind is a European VC firm with a proven record in financing and mentoring tech companies from pre-seed to Series A. The firm has invested in over 80 startups across various sectors and achieved 29 successful exits.

Genespire secures €46.6M for pediatric gene therapy development

Milan-based biotech company Genespire has raised €46.6M in a Series B financing round, co-led by Sofinnova Partners, XGEN Venture, and CDP Venture Capital, with participation from Indaco SGR.

Founded in 2020 by Prof. Luigi Naldini and Dr. Alessio Cantore in Milan, Genespire specialises in off-the-shelf gene therapies using immune shielded lentiviral vectors (ISLVs) that enable lifelong production of therapies directly from the patient’s liver.

The funds will advance Genespire’s lead candidate, GENE202, through to a Phase I/II clinical trial for treating methylmalonic acidemia (MMA), a severe genetic disorder with no current disease-modifying treatments. 

The financing will also support the development of additional candidate products targeting various genetic diseases.

Qonto expands operations to the Netherlands

Paris-based Qonto, a financial solution for SMEs and freelancers, has officially launched its platform in the Netherlands, effective from October 1.

The expansion targets the country’s market of over 2 million SMEs and freelancers, valued at €1.48B, capitalising on a mobile banking penetration rate of 91 per cent. 

Qonto’s offering includes an online business account integrated with invoicing, accounting, and expense management tools, tailored to meet the specific needs of Dutch users. Prior to the launch, Qonto conducted extensive market research to identify local pain points in corporate financial management. 

The company’s previous expansions included Italy, Spain, and Germany, where Qonoto showcased customer and revenue growth.

With this expansion, Qonto increases its market presence from four to eight European markets, raising its addressable market for SMEs from 12.8 million to 17.4 million. Founded in 2016, Qonto now serves over 500,000 customers and employs 1,600 staff across Europe.

Quantum Systems secures over €100M in Series B round

Quantum Systems, a Munich-based company specialising in drone technology, has raised over €100M in its Series B funding round, bolstered by new investors Notion Capital and Porsche Automobil Holding SE (Porsche SE). Existing investors also participated in this round.

Quantum Systems is an aerial data intelligence company that provides multi-sensor data collection products for government and commercial clients. Its electric vertical take-off and landing (eVTOL) systems are known for their endurance and reliability. 

By serving both commercial and defence sectors, the company leverages fast-paced commercial development to innovate in defence applications. With nearly a decade of experience, Quantum Systems delivers versatile UAVs for defence, security, humanitarian, and geospatial operations.

Quantum Systems’ advanced drones, equipped with artificial intelligence capabilities, enhance efficiency across various sectors, including mining, construction, and public safety.

The new funding will support international expansion, scale up production, and drive further innovation in research and development, particularly in software and AI.

ÄIO secures €6.1M to develop sustainable oils and fats

Tallinn-based biotechnology startup ÄIO has raised €6.1M in funding from venture capital firms Voima Ventures, 2C Ventures, SmartCap, and Nordic Foodtech VC. 

The funds will be directed towards establishing a demo plant in Estonia for the production of environmentally friendly oils and fats derived from wood and agricultural residues, providing a sustainable alternative to traditional oils used in the food industry.

Founded in 2022 as a spin-off from TalTech (Tallinn University of Technology), ÄIO has created a method that aims to lessen the food industry’s dependence on environmentally harmful animal fats, palm oil, and other vegetable oils. 

The company’s approach utilises specialised yeast to convert by-products from wood and agricultural processes, such as sugars extracted from sawdust, into food-grade fats and oils. This method is designed to be faster and more environmentally sustainable, says the company.

Mintos secures €2M in debt funding

Latvia-based Mintos, a multi-asset investment platform, has secured €2M in funding from Latvian growth capital fund FlyCap to support its growth initiatives, particularly in customer acquisition across the European Union.

This deal follows Mintos’ crowdfunding campaign on CrowdCube, where it raised €3.1M from over 3,300 investors across more than 55 countries, marking it as one of the largest campaigns in the EU for 2024.

The funding comes after Mintos reported a 30 per cent increase in revenue, from €8.8M in 2022 to €11.4M in 2023, alongside a net profit exceeding €650K. By the end of 2023, the platform had over €600M in assets under administration, showing its market presence, particularly in Germany and Spain.

Mintos has also completed its expansion into all European markets, including recent launches in Portugal and the Czech Republic, broadening its reach and strengthening its platform’s impact across the continent.

Women-led Quin AI secures £1.5M seed investment

London-based Quin AI has secured £1.5M in seed funding, led by Blackfinch Ventures with contributions from SFC Capital, Logo Ventures, and Finberg. The funding marks a significant advancement for the company, which specialises in online behaviour prediction and personalisation through its generative behavioural AI platform. 

Quin AI’s technology enables businesses to predict customer behaviour in real-time, enhancing digital customer journeys and driving conversions.

The platform analyses first-party behavioural data, ensuring privacy compliance by not capturing personal information. With a no-code setup, Quin AI allows companies to integrate its system, benefiting from AI-driven personalisation without extensive technical expertise. 

Founded by sisters Gulsah and Gonca Gulser, Quin AI is notable for being a women-led startup, combining their expertise in management consulting and customer behaviour analytics to empower businesses with effective and privacy-conscious AI insights.

Apron secures $30M in Series B round

London-based Apron, a fintech startup focused on simplifying payments for small businesses, has raised $30M in a Series B funding round. This follows the $15M Series A round in 2023.

The round was led by Zinal Growth, with participation from Index Ventures, Bessemer Venture Partners, Visionaries Club, and Tony Fadell’s Build Collective.

The funding will be used to expand Apron’s product and engineering teams, introduce new tools for larger suppliers, and launch an expense management product. 

Founded by former Revolut product leader Bogdan Uzbekov, Apron aims to streamline the often tedious process of paying suppliers by offering a platform that integrates into existing workflows. It simplifies managing invoices, supplier payments, approvals, and reconciliations, allowing small businesses to save time and focus on their core operations.

Notpla bags £20M to transform sustainable packaging

London-based Notpla secures £20M in its Series A+ round of funding to enhance its mission of developing plastic-free packaging solutions. 

This funding, which exceeded the company’s initial target, comes from a diverse group of investors, led by the UB Forest Industry Green Growth Fund, along with new and existing investors including Catalytic Capital for Climate & Health (C3H) from Temasek Trust.

The funds will support Notpla’s expansion into high-demand markets, particularly North America, and accelerate the development of its seaweed-based packaging materials. The company aims to replace over 100 million single-use plastics annually within the next two years, building on the 16 million already replaced to date.

Founded on the principle that nature offers solutions to environmental challenges, Notpla is dedicated to creating regenerative packaging materials from seaweed and plants, to shift towards sustainable practices.

Convergence raises $12M in pre-seed funding

Convergence, a London-based startup focused on creating personalised AI agents, has secured $12M in pre-seed funding led by Balderton Capital, with participation from Salesforce Ventures and Shopify Ventures. 

The funding will be allocated towards developing advanced models for Proxy assistants, aiming to enhance continuous learning and skill acquisition through memory capabilities.

Founded in April 2024 by machine learning engineers Marvin Purtorab and Andy Toulis, Convergence seeks to transform software usage by pairing users with customised AI. 

According to the startup, its Proxy system is designed to automate repetitive tasks, which consume 62 per cent of the average employee’s workday, thereby enhancing productivity.

Proxy’s applications also offer consumers personalised assistance for various tasks, including booking holidays and ordering groceries. Convergence has launched Proxy in beta, with a limited number of spots available for interested users.

Summa Equity acquires fraud prevention company NetGuardians

Stockholm-based private equity firm Summa Equity has acquired NetGuardians, a Swiss AI-driven fraud prevention and anti-money laundering (AML) solutions provider. The acquisition creates potential collaboration opportunities between NetGuardians and Intix, another Summa portfolio company specialising in Know Your Transaction (KYT) data management. 

Together, the two companies aim to drive the development of next-generation financial crime solutions.

NetGuardians’s 3D AI technology combines unsupervised, supervised, and active learning with community scoring intelligence to detect and prevent financial crimes. By analysing user behaviour and identifying unusual payment transactions in real-time, NetGuardians helps reduce false positives while ensuring smooth processing of legitimate transactions. 

Currently, NetGuardians has over 100 clients across 30 countries.

Summa Equity, founded in 2016, focuses on impact investing with €5B in assets under management across three funds. The firm’s investments address global challenges in areas such as resource efficiency, changing demographics, and tech-enabled transformation.

DeepOpinion raises €11M

Austria’s DeepOpinion, a startup specialising in agentic process automation, has secured €11M in Series A funding. The round was co-led by Red River West and AIpha Intelligence Capital, with participation from Lunar Ventures and Stride VC. 

DeepOpinion’s platform uses advanced AI agents to automate complex, knowledge-intensive tasks, such as claims management and loan approvals, traditionally handled by experts.

The funds will drive global expansion and further develop the company’s AI platform, which enables businesses to automate unstructured data processing without code. 

In disaster scenarios, such as recent floods in Austria, the platform reduced claim processing times from weeks to just 90 seconds, offering quicker relief to victims. DeepOpinion claims that it is trusted by companies like Allianz, Siemens, and Erste Group.

LettUs Grow announces spin-out of Ostara

Bristol-based agtech company LettUs Grow has announced the spin-out of Ostara, a software platform aimed at optimising controlled environment agriculture (CEA) and polytunnel farming.

Initially developed to improve yields and reduce costs for indoor growers, Ostara’s spin-out is supported by investment from Bethnal Green Ventures (BGV), a VC firm focused on tech with positive impact.

Ostara automates and monitors essential crop management processes, including lighting, irrigation, and environmental controls. Already in use in over 30 CEA projects, Ostara now aims to enhance climate management in polytunnels, addressing challenges posed by extreme weather that contribute to significant crop loss. 

This move supports LettUs Grow’s goal to scale its aeroponic technology globally.

Rabobank and Founded join forces

Utrecht-based Rabobank has partnered with Groningen’s Founded to enhance innovation and sustainable growth in the Northern Netherlands. This initiative supports Rabobank’s mission to contribute to major transitions within the startup ecosystem.

Despite efforts to strengthen its position in this space over the past three years, Rabobank identified a need for improved structure and collaboration. The partnership aims to foster a robust ecosystem, facilitating the emergence of high-quality startups and increasing the likelihood of their successful scaling.

A key component of Rabobank’s support is the innovation loan, a pre-seed financing option for startups, which currently supports 48 businesses. Additionally, Rabobank is encouraging other organisations to collaborate with Founded to further bolster the ecosystem.

Tim van Gerrevink launches The Scaler Company

Billy Grace’s former employee Tim van Gerrevink is launching a new venture called The Scaler Company.

With nearly nine years of experience in tech, sales, and startups, the founder initially joined Temper as its first hire, where they developed a go-to-market strategy known as the Scaler Method. This method has been refined through its application at various companies, including Contentoo and Billy Grace.

The Scaler Company aims to assist tech businesses in enhancing their commercial strategies. Services will focus on designing optimal commercial processes, hiring and scaling teams, leveraging automation and AI, and optimising revenue operations.

Pascual Innoventures invests over $2M in Mylkcubator Programme

Pascual Innoventures has invested over $2M in the Mylkcubator Programme, aimed at advancing research in the food sector. This investment comes as part of the programme’s third edition, which has generated a total value of $305M and raised $104.5M in investments.

In this round, Pascual Innoventures has backed the biotech startup Onego Bio, which focuses on producing an egg white alternative through precision fermentation.

The Mylkcubator Programme, developed in collaboration with the Foodtech accelerator Eatable Adventures, now expands its focus to include innovations in areas such as egg components, coffee, fats, and cocoa, as well as sodium and sweetener substitutes.

Gabriel Torres Pascual, CEO of Pascual Innoventures, emphasised the programme’s global significance, highlighting the commitment to identifying and supporting sustainable food solutions. 

The latest edition features five startups leveraging advanced technologies, including Innomy, Cultzyme, Nosh.bio, California Cultured, and Onego Bio, all selected for their potential to impact the food industry positively.

SPiNE secures €1.5M for smart meter technology

Munich-based SPiNE GmbH, a clean energy tech startup, has closed its first financing round, raising €1.5M. The investment consortium includes Austrian VERBUND X Ventures, Bayern Kapital, Superangels, and Scrape Ventures. 

The funds will primarily be allocated towards team expansion and technical product development. SPiNE also aims to expand its market reach beyond Germany into other European countries.

Founded in February 2024, SPiNE is dedicated to the digitalisation of metering and the implementation of smart meter infrastructure. The company believes it is essential for Germany’s energy transition to enhance renewable energy sources and reduce CO2 emissions. 

SPiNE’s application platform allows for grid-friendly control of consumption devices and efficient management of measurement data. 

With Germany expected to mandate at least 28 million smart meter installations by 2032, SPiNE aims to become a key player in this sector. The company’s Device Control Center will facilitate the monitoring and management of smart meter gateways, streamlining the rollout process.

TREEO raises €1.72M

Stuttgart-based TREEO has concluded its financing campaign with Companisto, raising €1,720,380. The funds will be utilised to enhance TREEO’s technology, aimed at improving the CO2 removal process and increasing transparency for customers. 

The company enables tree growers and net-zero companies to effectively remove carbon from the atmosphere, benefiting the entire ecosystem.

With a focus on scalable and inclusive carbon removal solutions, TREEO addresses the accessibility challenges faced by millions of smallholder farmers in climate finance. The startup provides a single-tree monitoring technology that empowers local communities to generate verified carbon removals, linking them to the global carbon market and improving their livelihoods.

By connecting companies to 500 million tree growers worldwide on a single platform, TREEO fosters transformational partnerships and combats greenwashing in the carbon market.

Kleecks Secures €6.5 Million in Funding to Enhance SaaS Platform

London-based Kleecks has closed a funding round of €6.5M, co-led by BlackSheep Fund, Axon Partners Group, and Azimut Digitech Fund. The funds will support the further development of Kleecks’ enterprise SaaS platform, designed to optimise website performance and maximise customer engagement.

Kleecks offers a solution that improves performance marketing activities, enhances website health and speed in real-time, ultimately driving revenue growth while reducing costs and time-to-market.

The platform has a proven track record, having helped numerous international brands, particularly in the luxury and fashion sectors, in enhancing their digital channels. The company has a user base of over 8 million and manages more than €1.5B in transactions.

Currently employing around 30 staff members, the company has achieved year-on-year growth exceeding 70 per cent, collaborating with over 100 brands across competitive markets including the UK, France, the US, and Japan.

Italy’s TrueScreen closes €2.4M to enhance digital trust

Bologna-based TrueScreen has closed its first investment round, raising €2.4M. The funds will be used to strengthen its position and accelerate growth in Italy and abroad, with the mission of restoring trust in digital information.

The round was led by Cysero VC, Italy’s cybersecurity-focused fund. Other investors included Encelado Ventures, smeup, Pathfinder Investor, B-yond Ventures, Fin+Tech Accelerator, and CDP Cassa Depositi e Prestiti.

Additionally, TrueScreen welcomes Mariano Spalletti, Managing Director of Qonto Italia, and Alessandro Petazzi, co-founder of Musement, to its team, where they will contribute their managerial and entrepreneurial expertise.

Founded in 2022 by Fabio Ugolini and Giuseppe Travasoni, TrueScreen is a cybersecurity company specialising in the acquisition, signature, and management of legally and evidentially valuable data. Its mission is to restore trust in digital information through proprietary technologies that combat fraud and misinformation. 

TrueScreen offers secure solutions for the forensic acquisition of multimedia content, document signing, and certification of online communications, serving multinationals, system integrators, consulting firms, and public administrations. Available as a SaaS solution, TrueScreen can be easily integrated through mobile apps, web services, or APIs/SDKs.

La Solive secures €4M to expand training in energy renovation professions

France-based La Solive has secured €4M in funding to enhance training in energy renovation professions. 

The investment will support two key initiatives starting in 2025: opening a dozen new campuses, beginning in Marseille in January and expanding to Toulouse, Lille, and Montpellier, and introducing new training courses to address skills shortages, such as rehabilitation work supervisors. 

Over the past three years, La Solive has trained nearly 1,000 students, focusing on making energy renovation careers more accessible. The growing energy renovation sector is expected to require 600,000 skilled workers by 2030, highlighting the need for practical training in this essential field of ecological transition, says the company.

Edtech startup Youni secures 900K

Romanian edtech startup Youni has raised €900K in seed funding round to expand its AI ecosystem that connects students with universities globally. 

The round was led by Czech Accelerator and VC Company Soulmates Ventures, contributing €600K, while Romanian Fund Early Game Ventures added €300K.

Youni facilitates the admissions process for students aspiring to attend leading universities by using AI technology to align mutual preferences between students and institutions. The platform offers support, including career counseling, language preparation, mathematics exam assistance, university selection, and application submissions.

Since its inception in 2017, Youni has assisted over 6,000 students in securing placements at prestigious institutions, boasting a 100 per cent acceptance rate for applicants. The platform also helps universities by enhancing candidate recruitment and streamlining admissions workflows. 

Youni collaborates with more than 600 universities, including Harvard, University of Cambridge, and NYU, and has processed over 30,000 applications.

Infact secures £4M in funding

London-based Infact, a credit reference agency, has announced a £4M in seed round following its authorisation from the Financial Conduct Authority (FCA) to establish the first real-time credit bureau for the digital financial services market.

The funding was led by AlbionVC, with participation from 13books Capital, Outward VC, Form Ventures, and Portfolio Ventures, along with support from notable angel investors in the credit and fintech sectors.

The investment will be used to enhance Infact’s bureau database and expand its product offerings aimed at helping challenger lenders and banks adapt to the evolving credit landscape. 

Infact claims to address shortcomings of legacy credit agencies, which often fail to meet the needs of consumers and lenders. The company’s platform provides real-time insights into consumer credit risk via an intuitive API, allowing lenders to improve their lending performance while enabling consumers to build and rehabilitate their credit profiles more effectively.

Led by Will Mason and Andy Milligan, former executives from Runpath, which was acquired by Experian, Infact’s founding team brings over 45 years of combined experience in consumer credit. The company aims to promote financial inclusion and visibility by facilitating quicker information sharing between lenders.

German healthtech for seniors startup, Family.cards, secures €1.2M

Berlin-based Family.cards, a startup specialising in digital accessibility solutions for seniors, has secured €1.2M in a seed round of funding. The round was led by Brandenburg Kapital and OHA Osnabruck Healthcare 7 Ventures, with participation from existing investors Antler and Birdhouse.

Founded in 2022 by Teo Ortega and Simon Hafner during their Antler residency in Berlin, Family.cards seeks to enhance the digital experience for seniors. The company focuses on empowering elderly individuals who struggle with touch screens due to cognitive, physical, or psychological decline.

Family.cards has developed a system that allows seniors to access various digital services through their television using a simple card system connected via a card reader. This intuitive system facilitates video calls, photo sharing, music playback, and age-appropriate exercises.

The funds will be used to further develop the technology, add third-party applications to the family.cards card-store, and expand the team while entering new markets across Europe.

PACT bags £9M for scalable biomaterials development

Cambridge-based PACT has raised £9M in a Seed funding round to advance its biomaterials inspired by nature, including its flagship product, Oval—the world’s first scalable, climate-responsible biomaterial made from natural collagen.

The company claims its material is already making waves in the fashion industry, with several luxury brands partnering to explore its creative applications.

Investors in the Seed round include Hoxton Ventures, ReGen Ventures, Celsius Industries, and Polytechnique Ventures. The funds will be used to enhance production capabilities, further develop biomaterials, and introduce new foundational materials for the fashion and luxury sectors.

To support this expansion, PACT has established a new 13,820 square foot headquarters in Cambridge, featuring a laboratory and pilot production facility, marking its transition into commercialisation and growth.

Founded in 2020 by Yudí Ding and Niels Ramay, PACT originated from Ding’s PhD research at the University of Cambridge, focusing on proteins around cells. The company aims to create sustainable biomaterials using natural resources such as collagen, herbal extracts, and minerals, emphasising efficiency and environmental responsibility.

Vsim secures seed funding to advance robotics AI

UK-based Vsim has announced the completion of its seed funding round, led by EQT Ventures, with participation from investors including Reece Chowdhry, Concept Ventures, Factorial Funds, Samsung Next, and Temasek, among others. 

This funding will enable Vsim to build a team dedicated to advancing robotics AI.

Vsim is a multi-physics simulation research and deployment company. Recently, it has expanded its simulation platform to include new features such as RGB and depth cameras, sensors, and an animation system. 

The company has developed a ray-tracing camera system designed to enhance vision-based learning, capable of rendering up to 1 million frames per second using a single RTX 4090.

Additionally, Vsim is creating a reinforcement training framework called Vlearn, which aims to significantly improve training performance compared to existing solutions. 

The company is also developing a robotic platform, Vlab, based on its simulation platform and Unreal Engine 5, which will provide capabilities for environment and robot setup, simulation, and inference.

Marple secures strategic funding to expand into automotive and aerospace industries

Antwerp-based tech startup Marple has secures fresh funding to support its growth in the automotive and aerospace sectors. The round was led by Network Venture Partners, with participation from Birdhouse Ventures and imec.istart.

Founded by engineers Matthias Baert and Nero Vanbiervliet, Marple aims to address inefficiencies in data analysis tools used within the industry.

Marple has developed a time series algorithm capable of processing billions of data points almost instantaneously, tailored specifically for engineers’ needs. The platform has gained traction, attracting over 3,000 engineers worldwide in 2023. 

The startup has already secured customers, including Atlas Copco, Verhaert, Yuso, and various motorsport and aerospace companies.

As a B2B SaaS startup, Marple’s mission is to empower engineers with a web-based platform that delivers quick, relevant insights for data-driven decision-making in the development of complex systems.

SURGAR raises €11M to enhance AR solutions for minimally invasive surgery

France-based SURGAR, a startup focused on developing augmented reality solutions for minimally invasive surgery, has secured €11M in funding. 

The round was led by Mutuelles Impact, managed by XAnge, along with Elaia Partners and MH Innov’, the corporate fund of Malakoff Humanis. Other contributors include Bpifrance, several business angels, and existing investors such as UI Investissement and Crédit Agricole Capital Innovation.

The company’s augmented reality software integrates computer vision and artificial intelligence to create a real-time visualisation of a patient’s internal structures, significantly enhancing surgical precision and safety. 

This technology aims to reduce surgical complications by half and improve precision by 20 times, offering substantial benefits for both patients and healthcare providers.

The funding will support the launch of U-SURGAR, a software designed for women with fibroids and adenomyosis, and the commercialisation of L-SURGAR and K-SURGAR, which target liver and kidney cancers, respectively. 

SURGAR has also signed collaboration agreements with hospitals in France and internationally to further develop additional AI-driven applications.

Jet HR secures €12M to streamline HR processes

Milan-based Jet HR has raised €12M in a Seed funding round, bringing its total funding to €16.7M just one year after its launch. Founded by Marco Ogliengo and Francesco Scalambrino, the startup aims to reduce the bureaucratic challenges associated with payroll, HR, and company operations in Italy.

The round was led by Picus Capital and also saw participation from Exor Ventures, Italian Founders Fund, and notable investors from the tech industry, including Diego Piacentini and David Clarke.

Jet HR offers a technology platform combined with expert Payroll Advisors, automating payroll processing and facilitating the management of administrative tasks. Jet HR’s solution provides clarity on payroll costs, simplifies contract creation, eliminates paper documentation, and automatically applies tax breaks, resulting in savings for its clients.

Within 12 months of operation, Jet HR has attracted over 300 clients, including SMEs, startups, multinationals, and publicly traded companies like HelloFresh and Octopus Energy.

The funding will enable Jet HR to expand its team of 70 employees, with a primary focus on research and development. Future features will include contractor management, allowing companies to handle payments for both employees and contractors.