Amsterdam startup funding news, July 2022

WELECTRIC secures €500,000 investment

Amsterdam-based e-mobility company WELECTRIC has secured a €500,000 investment from Bloomit Ventures to grow its offer of Light Electric Vehicles (LEVs). WELECTRIC offers a range of e-mobility options including bikes, cars, scooters and kick scooters and has stores in Amsterdam, Weesp, Bussum and Rotterdam. The startup hopes to open more stores in the Netherlands offering a quality range of light electric vehicles and associated services.

Sympower raises €22m to accelerate energy transition

Sustainable energy startup Sympower has raised €22m in its latest round of funding. The Amsterdam-based company’s software platform balances the supply and demand of power across international energy grids with the aim of making energy systems smarter, cleaner and renewable. The funding round was led by VC Activate Capital with Expon Capital, with existing investors Rubio Impact Ventures, PDENH and Rockstart also participating. Sympower will use the funding to accelerate the expansion of its services across Europe.

€2.5m in growth capital for Group25

Group25, the company behind Amsterdam-based consulting firm Gen25 and booking application Booker25, has raised capital of €2.5m from MGF. MGF first invested in Group25 in 2015 and the company has grown tenfold since then. The new injection of capital will allow the company to further accelerate growth, with particular focus on its booking platform Booker25, which is already being used in multiple industry sectors worldwide.

3i Group invests in VakantieDiscounter

3i Group has agreed to invest in online travel agency VakantieDiscounter. The company is a highly scalable, tech-driven business with a strong position in the online package holiday market.  The investment will enable the company to continue its recovery from the COVID-19 pandemic and endure it has the resources to sustain growth and market leadership. 

Rodeo software provider raises growth capital 

Amsterdam-based software provider Rodeo has raised an undisclosed sum in investment from growth equity firm PSG. Founded in 2016, Rodeo offers all-in-one project management software with a focus on creative industry customers including marketing and advertising agencies, design and architecture firms, and media companies. The startup will work in partnership with PSG and existing investors, including No Such Ventures, to accelerate its growth and geographical expansion.

Sustainable investment platform raises €35.2m

Amsterdam’s crowdfunding platform for sustainable investment DuurzaamInvesteren has raised €35.2m in the first six months of 2022. The platform enables individuals to invest in companies and projects with a sustainable aspect. It offers projects in sectors such as growth financing and working capital as well as green energy. The 2022 funds so far have been raised in 26 offers, an increase of 53% compared to 2021, when there were 17 offers.

First Dutch NFT marketplace open for business

The market in non-fungible tokens (NFTs) is booming internationally and the Netherlands now has its first domestic NFT platform - Authics. The website went live in February and its marketplace is now in the early access phase. The founders aim to give a platform to artists in the Benelux and say the response has been positive with a surprisingly high number of NFT creators signing up. Authic is currently in talks with investors to secure further growth capital. 

Fintech startup Carbon Equity raises €1.8m in seed funding

Fintech startup Carbon Equity has raised €1.8m in an oversubscribed seed funding round. Dutch VC 4Impact led the round with participation from Germany-based WiVenture and AENU. Angel investors including the founders of Bloomon and sustainable aviation pioneer SkyNRG also took part. Carbon Equity’s platform allows regular investors to invest, alongside experts in top climate venture capital and private equity funds. The Amsterdam-based company will use the funds to launch its retail investing programme and expand its investor base.

Greener Power Solutions bags €45m investment

Amsterdam-based Greener Power Solutions, a company offering clean, on-site, mobile battery power, has raised another €45m in funding. The new funds come from Dutch investment company DIF Capital Partners which specialises in infrastructure and renewable energy. Greener Power Solutions was founded in 2018 and leases mobile batteries equipped with their own software to a variety of industries. The company plans to use the funds raised to invest in hardware, software and innovation. It expects to expand its current fleet of 60 batteries significantly.

JetLearn takes off with €1.2m in seed funding

Online Web 3.0 academy JetLearn has secured €1.2m in seed funding. The platform offers personalised one-to-one online classes in coding and technologies such as AI, AR and robotics to children aged from six to 16. The funding round was led by INSEAD Angel Group. The Amsterdam-based company will use the funds to launch its platform in the UK market.

New partnership for quantum computing company Pasqual

Quantum computing provider Pasqal, which merged with Amsterdam quantum startup Qu & Co earlier this year, has announced a new partnership with multi-national chemicals giant BASF. The companies will work together on exploring weather modelling and other computational fluid dynamics applications. 

Transmetrics logistics startup selected for EU funding programme

AI logistics platform Transmetrics is one of 74 innovative startups selected by the European Commission to share in up to €382m of funding in grants and investments. Transmetrics, which has dedicated offices in Amsterdam and Sofia, will use the funds to support the further development of its AI-driven logistics optimisation software and to expand the company internationally. 

Amsterdam’s BIYU raises €1.9m in new seed funding round

Amsterdam-based rental platform, BIYU has raised €1.9m in seed funding from impact investor Urban Impact Ventures and tech-for-good investor Arket Ventures. A number of angel investors also participated in the funding round, which brings the total seed investment secured by BIYU to €2.6m. Founded in 2021, BIYU offers high-quality rental equipment for activities ranging from DIY to gardening and from cooking to moving house. The company’s goal is to stimulate the transition to a circular economy by enabling people to hire products conveniently rather than buying them.

FlexiDAO secures €6.43m investment for its cleantech platform

Barcelona and Amsterdam-based cleantech startup FlexiDAO has secured €6.43m in funding in a Series A investment round led by venture capital firm SET Ventures. Other participants in the round were Google, the Microsoft Climate Innovation Fund and existing investor EIT InnoEnefgy. FlexiDAO will use the funds raised to fuel its growth in the United States and Europe. As well as investing in the company, Google and Microsoft are also FlexiDAO customers, using its first-of-its-kind technology to support their targets of 100% carbon-free electricity by 2030.

Viqal bags €500,000 in pre-seed funding for smart sensor network

Deep-tech startup Viqal (Localpepper B.V.) has raised €500,000 in a pre-seed round of funding from Rabobank, Holland Startup, and two angel investors. The company provides hospitality venues and organisations with customer feedback based on smart sensors and AI. Customer sentiment data is collected in real-time in a privacy-friendly way and can help organisations understand how people are experiencing their visit as well as alerting staff on the spot to attend to guests. Viqal will use the capital to expand its team and scale its smart sensor network.

Online vet services provider Cooper Pet Care raises €900,000

Amsterdam-based pet healthcare provider Cooper Pet Care has raised €900,000 in a fresh funding round. The investment came from Singapore-based early-stage VC firm Antler and London-based VC firm Flyer One Ventures along with angel investors. Founded in 2021, Cooper Pet Care provides online services for pet owners, including video consultations with certified veterinarians and an AI-powered symptom checker. The company will use the funds to expand within the Benelux region.

Amsterdam startup The Ketchup Project secures €450,000 investment

The Ketchup Project has secured €450,000 in investment from DOEN Participaties and Brave New Food Investments. The Amsterdam-based startup aims to promote sustainable manufacturing while simultaneously reducing food waste and empowering local farmers in Kenya. The company will use the funds to hire additional staff and invest in purchasing its own fruit-drying hubs.

Shipping platform Cargors raises €750,000 in seed funding round

Online shipping platform Cargors has raised €750,000 in seed funding. Cargors, based in Almere, offers a digital road freight network for local and international shipping. The company aims to bring greater transparency to the market by bringing shippers into direct contact with carriers, thus eliminating the need for brokers. Cargors will use the funds, which come on top of a pre-seed investment of €25,000, to support growth plans, including increased customer support and IT resources.

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