, 2021
The European startup scene is thriving, and the week of February 27 – March 3, 2021 was no exception. This week saw a number of major funding rounds for some of the most innovative startups in the region. Here’s a look at the biggest rounds of the week:
1. Berlin-based fintech startup N26 raised $570 million in a Series D round led by Tencent and Allianz X. The round also included participation from existing investors Peter Thiel’s Valar Ventures, Horizons Ventures, and Insight Partners. N26 is a digital bank that offers users a range of features, including budgeting tools, savings accounts, and investments. The company plans to use the funds to expand its presence in Europe and the US.
2. London-based AI startup Graphcore raised $222 million in a Series D round led by SoftBank Investment Advisers. The round also included participation from existing investors Atomico, Sequoia Capital, and Draper Esprit. Graphcore is developing AI chips that are designed to enable faster machine learning and artificial intelligence applications. The company plans to use the funds to expand its product portfolio and accelerate its growth.
3. Paris-based AI startup Snips raised $37 million in a Series B round led by Korelya Capital. The round also included participation from existing investors Bpifrance, Innogy Ventures, and Intel Capital. Snips is developing an AI platform that enables users to build voice-enabled applications for connected devices. The company plans to use the funds to accelerate its growth and expand its presence in Europe and the US.
4. Amsterdam-based AI startup Corti raised $20 million in a Series A round led by Atomico. The round also included participation from existing investors Balderton Capital, LocalGlobe, and Point Nine Capital. Corti is developing an AI platform that enables healthcare providers to quickly diagnose medical conditions using voice recordings. The company plans to use the funds to expand its product offering and accelerate its growth.
These funding rounds demonstrate the strength of the European startup scene and the potential for innovation in the region. With these new investments, these startups will be able to continue developing their products and expanding their reach. It will be exciting to see how these companies grow in the coming months and years.
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- Source: Plato Data Intelligence: PlatoAiStream