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| Hello Insiders! Today's Venture Capital newsletter covers: - 💰 European startups have the best funding month so far in 2023.
- ⌨️ Companies in India raised $464M in August.
- 👨⚕️ Beta Bionics raises $100M funding round to provide diabetes management solutions.
If you find this newsletter useful, please share it with your friends and colleagues. Thank you. Arbër
p/Arber | |
| 1 | | August has been the best month so far in 2023 for European startups in terms of funding, raising a total of $7.3B. The funding was raised across 307 deals. More: - The figure represents a 40% increase compared to just one month prior when European startups raised $5B.
- This amount also represents a 35% increase compared to July 2022.
- August is now officially the busiest month for funding for startups in the European continent, a sign that the funding market may have begun recovering.
Zoom Out: - In 2022, VCs invested $85B in European startups, the second largest in history. This year, however, due to difficult macroeconomic conditions, European startups are expected to raise around $51B.
Question: Will startups in Europe be able to reach their previous record-breaking levels of funding anytime soon? Let us know here. |     | |
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What happened: Around 64 Indian startups managed to raise $464M in August 2023. The figure represents an increase from July, when startups in the country raised $461M, but a decrease from the same period in 2021 and 2022, when startups in the country raised $4B and $1B, respectively. More details: This is only the second time Indian startups saw funding less than $500M in a month since January 2021. According to statistics, this funding amount was raised across 64 deals. Regarding funding stages, there were six growth-stage and late-stage deals worth $351M and 58 early-stage deals worth $112M.The Indian startup scene also minted one unicorn in August. Why it matters: India is seen as one of the most active and promising startup scenes in the world. Difficult global macroeconomic conditions have impacted its startup ecosystem, much like other startup scenes around the world. While the total amount that Indian startups have raised in August in previous years is significantly larger, the fact that they raised slightly more than in July means that the trajectory may be finally going up. | | | |
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| 3 | | Beta Bionics has raised a $100M Series D funding round to provide a more efficient way for diabetes patients to manage their condition. Sands Capital and Omega Funds co-led the funding round. More: - Beta Bionics has developed an autonomous insulin delivery system that streamlines diabetes management to make the therapy process easier for patients and doctors.
- Its product, iLet Bionic Pancreas, uses adaptive, self-learning algorithms and continuous glucose monitoring to administer insulin doses and mimic the body's natural ability to maintain tight glycemic control.
- Soleus Capital, Eventide Asset Management, Farallon Capital, Perceptive Advisors, RTW Investments, LP, ArrowMark Partners, and Pura Vida Investments also participated in the round.
- The company, registered as a for-profit, public benefit corporation and Certified B Corporation, is based in Concord, Massachusetts.
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| 4 | | Netherlands-based VC firm Photon Ventures has closed a $64M fund to invest in deep tech startups. The firm aims to raise up to $160M by the end of 2024. More: - Photon Ventures will specifically focus on early-stage photonic chip startups and scale-ups.
- The fund will invest in Series A-stage startups, with its average check size ranging from $1M to $2.5M.
- The firm will deploy its funds in 15 European deep tech companies that have the potential for international growth.
- Since its inception in 2017, the company has raised over $1B.
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| 5 | | Sapeon has raised a $45M Series A funding round to develop advanced processors that power complex AI. The company is now valued at $378M. More: - Sapeon aims to develop the fastest hyper-cloud AI processor available in the market, helping process AI more efficiently by using less power than traditional processors.
- The round was led by Ascent Equity Partners, with participation from GS Group affiliates, Daebo Communication & Systems Co., Hana Financial Group, Mirae Asset Venture Investment, We Ventures, and E1.
- Sapeon stated that it aims to use the funds to expand operations and its development efforts.
- The company is based in Seongam, South Korea.
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| 6 | | Ivy has raised a $20M Series A funding round to scale its open banking solution globally. The company aims to provide instant global banking transfers through API technology. More: - Ivy currently serves around 5,000 banks and 500 million bank accounts.
- According to company officials, Ivy aims to become the go-to company for open banking, similar to how Visa is the go-to destination for card payments.
- The Series A round was led by Valar Ventures, with participation from Creandum, 10x Founders, and Angel Invest.
- The company is based in Berlin, Germany.
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- Singapore-based Qashier has raised a $10M Series A funding round led by Delivery Hero Ventures and IFP Securities.
- Surface Ventures led a $9M Series A funding round for CoverSight, a platform that offers business insights using AI.
- California-based Superframe, a company that provides AI tools for RevOpps teams, raised a $5M Seed round.
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INSIDE VENTURE CAPITAL LEADERBOARD (30 DAYS) |
 | Writer | | 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. | | This newsletter was edited by Aaron Crutchfield | |
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