The European startup scene is constantly evolving, with new companies emerging and existing ones securing funding to fuel their growth. Keeping track of all the funding rounds can be a daunting task, but EU-Startups has made it easier with their weekly round-up of European startup funding rounds.
For the week of June 05-09, EU-Startups tracked a total of 38 funding rounds across Europe, with a combined value of over €1.2 billion. The funding rounds covered a wide range of industries, from fintech and e-commerce to healthtech and transportation.
One of the largest funding rounds of the week was secured by German fintech company N26, which raised €470 million in a Series D round led by Insight Partners and GIC. The funding will be used to support N26’s expansion into the US market and to develop new products and features.
Another notable funding round was secured by Swedish e-commerce company Klarna, which raised €131 million in a funding round led by Commonwealth Bank of Australia. Klarna offers a range of payment solutions for online retailers and plans to use the funding to expand its global presence.
In the healthtech sector, French startup Owkin raised €50 million in a Series A round led by Cathay Innovation. Owkin uses artificial intelligence to accelerate medical research and drug discovery, and plans to use the funding to expand its team and develop new products.
Other notable funding rounds included UK-based transportation company Arrival, which raised €100 million in a Series D round led by BlackRock, and German insurtech company Wefox, which raised €110 million in a Series B round led by OMERS Ventures.
Overall, the week of June 05-09 was a busy one for European startups, with a wide range of companies securing significant funding rounds. The funding will help these companies to continue growing and innovating, and will contribute to the overall strength and vibrancy of the European startup ecosystem.
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- Source: Plato Data Intelligence.