 Funding for European startups has dropped 38% YoY, amounting to $23.7B. European startups raised $14B less in Q2 of this year than in the previous year. More: - During the same period last year, European startups raised $38B. European-startup funding had the best Q1 in 2022 globally, in contrast with the general trend during that time.
- The amount of funding raised in Q2 2022 has been at least $10B higher than in each quarter of 2020.
- Early-stage financing for European startups in the second quarter of 2022 fell by 9% YoY, amounting to $7.9B.
- Europe had a relatively high number of new unicorns created, with 21 companies reaching unicorn status this year, while there are 187 European unicorns in total.
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Cathay Innovation announced the launch of a $1B venture fund to invest in startups across different sectors such as healthcare, finance, consumer technology, etc. The fund is the company's third. More: - Cathay claims that this fund will be one of the largest ones of its kind. The official name of this fund is Cathay Innovation Fund III.
- The participants in the round include Sanofi, BNP Paribas Cardif, TotalEnergies, Groupe ADP, Valeo, Groupe SEB, etc.
- Cathay Capital manages $5B and has invested in 120 companies, including unicorns such as Ledger, Glovo, Chime, etc. The firm operates in North America, Europe, Asia, Africa, and Latin America.
- Late-stage startups globally raised $196B more during 2021 than they did in 2020, while early-stage startups raised $100B more. VC funding has slowed down in 2022, but the pace is expected to pick up at some point in the near future.
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Berlin-based wefox has announced that it has raised $400M in a Series D funding round. The startup is now valued at $4.5B. More: - The round was led by Mubadala Investment Company, while Eurazeo, LGT, Horizons Ventures, OMERS Ventures, and Target Global also participated.
- wefox is an insurtech company that provides insurance through its platform.
- The startup is projected to hit $600M in revenue this year, while it has over 2 million users on its platform so far.
- wefox utilizes a unique business plan through which third-party brokers act as salespeople for the company by recommending it to their customers. This business plan allows the company to reach profitability faster than other startups since its cost-per-client is lower.
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Contrarian Ventures is in the process of raising $101M for a flagship climate fund. The Lithuania-based firm has already closed its first group of deals, according to reports. More: - The firm invests in businesses that tackle climate change, having deployed capital in 19 companies so far.
- Contrarian Ventures invests in all stages, and it has had two successful exits so far. One exit was with a Lithuanian startup named LastMile, while the second was with London-based Voltaware.
- VC firms are projected to invest up to $1.5T in Climate Tech by 2025. U.S. Climate Tech companies received $87.5B in investments from VC firms during H2 2020 and H1 2021. Mobility and transportation have remained the two most sought-after verticals in this space.
- Electric Vehicle companies managed to raise $33B during this period.
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Today's funding 💵 VC/Finance - Elaia (France), VC firm that invests in AI, data science, cybersecurity, and healthcare startups: $77M fund led by BNP Paribas, L’Oréal,VINCI Concessions, Inria, Bpifrance for the Fonds National d’Amorçage 2, Covéa Finance, and Malakoff Humanis.
Data/Tech - Scale Computing (Indianapolis), a cloud-based software solution for edge computing: $55M.
- Eton Solutions (North Carolina), a platform that helps family offices manage their funds more efficiently: $38M C led by Navis Capital Partners.
Logistics/e-commerce - Wheelocity (India), a supply chain startup that transports food for e-commerce companies: $12M Equity/Debt A led by Lightspeed India Partners.
Health tech - Particle Health (New York), a healthcare data exchange software platform: $25M B led by Canvas Ventures with participation from Menlo Ventures, PruVen Capital, and Story Ventures.
- Intellect (Singapore), a mental health platform with guides from therapists: $10M A led by Tiger Global with participation from K3 Ventures, Insignia Ventures Partners, HOF Capital, JAFCO Asia, Singtel Innov8, and PERSOL Holdings.
- Navinci Diagnostics (Sweden), a life science startup that aims to create drugs: $8.5M A led by Segulah Medical Acceleration with participation from Landegren Gene Technology AB, Nexttobe AB, and Beijer Ventures AB.
Fashion tech - Circ (Virginia), a startup that returns clothes to the materials they were made with: $30M B led by Breakthrough Energy Ventures.
Cryptocurrency/Blockchain - Quadrata (California), a blockchain identity verification startup utilizing NFTs: $7.5M seed led by Dragonfly Capital with participation from GSR Ventures, Orange DAO, Fellows Fund, Balaji Srinivasan, etc.
- Protagonist (Florida), a fund that invests in cryptocurrency and blockchain protocols: $100M.
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Quick Hits: - Elon Musk gave a shout-out to Boxabl, calling it a "cool product." Invest in Boxabl today with over 15,000+ investors!*
- The founder of Zoho Corp, one of India's oldest SaaS companies, stated that he doesn't believe in raising VC funds, which is why he has never done so.
- Brightline has raised a $10M Series C funding round. The investment is an extension of the previously raised funds that now amount to $115M.
- Serg Technologies has raised $1.9M in funding. The startup provides a medical device that can detect Parkinson's disease.
- ADPS raised a $7M Series C funding round. ADPS provides a career readiness platform for people impacted by the justice system so that they learn skills and earn a living wage.
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 |  | Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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