Top European funding rounds in February

As spring slowly starts to take hold and we move into March, let’s take a look back at what happened in February across Europe’s startup ecosystem.

Coming into 2023, there was a deal of scepticism and worry about finances. Faced with a  global economic downturn, VCs tightening their bank accounts, costs spiralling and a degree of pessimism, many of Europe’s startups have come into 2023 with an understandable quality of conservatism and hesitancy to risk.

Despite this, there are still signs of growth – and so far, resiliency is what is standing out.

We found that over the course of February, over $1.2 billion was raised by European startups.You can keep an eye on weekly funding by checking out our weekly funding roundup, an EU-Startups Club exclusive. Alongside this, VCs and thought leaders have spoken about the importance of perseverance, resilience and confidence during these rollercoaster times.

Here, we put a spotlight on the biggest and most eye-catching fundraises this month. First, take a look at 10 of the biggest VC-backed rounds (for startups founded post-2012) before turning the spotlight on the biggest funding rounds for female-led startups:

10 biggest funding rounds

PowerField Netherlands raised €500 million to develop, build and manage solar parks, charging stations and energy storage systems. With a team of 29 employees, it was founded in 2012. The round was led by the US-based EIG Global Energy Partner.

London-based Zenobe Energy scored €274 million to transform the way grid operators and businesses use power to reduce costs, improve reliability and benefit the environment, since 2017. The round was led by the UK-based NatWest Group.

London-based Stenn Technologies landed €227.1 million for its digital trade finance for international SMEs in 70+ countries. With a team of 164, it was founded in 2015. The round was led by the US-based Crayhill Capital Management.

London-based Merchant Money raised €130.6 million to provide flexible business finance to the UK SME market. With a team of 32 employees, it was founded in 2013.

Copenhagen-based Hemab picked up €127.2 million to develop prophylactic therapeutics for serious, underserved bleeding and thrombotic disorders. With a team of 20, it was founded in 2017. The round was led by the US-based Access Biotechnology.

London-based Carmoola secured a round of €117.5 million for its car fintech services. It makes it possible to take control of your car finance through the Carmoola app, which was founded in 2021.

Salzburg-based Myflexbox bagged €75 million for its logistics service that provides smart pick-up and delivery stations. The startup was founded in 2017 and it now has a team of 29 employees. The round was led by the London-based Star Capital Partners.

Stowmarket-based EO Charging grabbed €75.4 million to design smart electric vehicle chargers and intelligent software for homes, workplaces, and destinations. With a team of 164 employees, it was founded in 2015. The round was led by: Vortex Energy and Zouk Capital.

Geneva-based Taurus secured €61.3 million to build the next-generation platform to trade, invest, and protect digital assets. With a team of 68 employees, it was founded in 2018. The round was led by Credit Suisse.

London-based Gousto raised €57 million for its online meal-kit manufacturer and retailer, using AI and automation to provide extensive choice and personalisation. The startup was founded in 2019.

Biggest funding rounds for female-led companies 

Amy McKechnie, Co-founder of the Londonian Carmoola secured a round of €117.5 million for their car fintech services. It makes it possible to take control of your car finance through the Carmoola app, which was founded in 2021.

Hélène Huby, CEO and Co-founder of the Munich-based The Exploration Company secured a round of €40.5 million to develop, manufacture and operate modular and reusable spaceships serving the needs of space stations. The startup was founded in 2021.

Mariella Rosa Al-Basha, co-founder of the London-based CyberSmart raised €14.5 million for its automated end-to-end cyber security compliance platform that helps SMBs. The startup was founded in 2016.

Skin + Me, led by Rachel Jones, employees bagged a round of €11 million to provide personalized skin treatments for feel-great skin. The startup was founded in 2018.

Munich-based finway, co-founded by Jennifer Dussileck secured a round of €9.2 million for its financial Operating System for SMEs – plan & control all expenses and budgets in one tool. The startup was founded in 2019.

Rome-based Codemotion, founded by Chiara Russo and Mara Mazzocchi, secured a round of €8 million for its ecosystem devoted to innovation, focused on developers and coding, since 2013.

Anna Balez, CEO and co-founder of the Paris-based LIZEE, secured €7 million for its logistics and managed services solution. The startup was founded in 2019.

Anna-Leena Raij, co-founder of the Stockholm-based Skipperipicked up €7 million for its meeting place for boats and boaters. The startup was founded in 2017.

Stockholm-based Natural Cycles, led by Elina Berglund Scherwitzl landed €6.61 million for its healthcare app that uses body temperature to determine fertility status. The startup was founded in 2013.

Bucharest-based Veridion, co-founded by Sorina Vlasceanu nabbed €5.66 million to provide business data enrichment based on real-time updates. The startup was founded in 2019.

By the way: If you’re a corporate or investor looking for exciting startups in a specific market for a potential investment or acquisition, check out our Startup Sourcing Service!

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Source: https://www.eu-startups.com/2023/03/top-european-funding-rounds-in-february/