The list: What were April’s biggest seed investments?
April was a month of fewer rounds, but bigger checks for early-stage European companies.
184 companies have raised funds – up from 233 in March, according to analysis from Dealroom and Sifted. That said, in April the total amount contributed was about the same as in March — €451m compared to €453m.
It should be noted that these numbers are almost certainly lower than the actual money raised during the month, since many transactions are reported later.
April’s Biggest Seed Ride
The biggest round of the month was for Carmoola, a UK car finance platform, which raised a seed round of £27m. The company gives users a virtual card to purchase a vehicle online or at a dealership, and they then repay Carmoola in installments.
Other big rounds in April went to lemon.markets, a Berlin-based startup working on an API for stock trading, which raised €15 million and Enso, a Polish company working on visualization tools. and data analytics for businesses which raised $16.5 million.
UK dominates, but Sweden and Poland see push
As is almost always the case, British companies contributed the most – securing 47s and calling on a collective €145m. The UK figure, however, was down on the previous month: UK companies raised a collective €174 million in March.
Germany comes next, with 26 companies and €82m, followed by France, with 24 companies and €67m.
The three countries tend to be the top three for seed investments each month, although Germany had a less successful March, only getting €23 million seed funding last month.
Sweden and Poland did better than usual in April, getting €24m each.
Fintech dominance expands
April was also pretty typical in terms of which industries brought in the most money. Fintech dominates – bringing €130m in 30 laps. This is a jump from the March figure, which was 90 million euros.
Health came second, with €40m over 21 laps. The average funding round size for fintech companies was €5.2m, compared to €2m for health technologies.
Major fintech rounds included Helios, a sustainable neobank from Paris, which raised €9 million. The biggest round in health tech was for Epitopea, a Cambridge-based company developing cancer immunotherapy tools which raised $14 million.
Here are the other tours that caught our attention this month, from a metaverse platform to one hoping to make entrepreneurship accessible to everyone.
Latvian startup Aerones raised $9 million seed round led by Future Positive Capital. The company manufactures robots to maintain wind turbines, which saves time and money in repairing them. Vinted co-founder Mantas Mikuckas and Skype co-founder Jaan Tallinn also joined the round.
Aistia Finnish startup working on sustainable tiles for construction, raised €1.6 million. The tiles are based on wood fiber. The construction industry is heavily polluting and there has recently been an increase in the number of startups working on greener solutions in space.
Carbon monitoring platform Vaayu raised an $11.5 million seed round led by Atomico last month. It’s part of a group of startups working on carbon accounting tools – the biggest player in the market is Sweep, which raised $73 million in April.
Metaverse platform Challau raised a round of $500,000 led by 7percent Ventures, whose team first backed Oculus VR. Challau says more than 20,000 Metaverse user sessions have taken place on the platform since its launch.
One daya London-based platform aimed at making entrepreneurship accessible to a wider audience through coaching and online content, raised a seed round of £2.5m led by edtech investor Brighteye and Outward VC.
Organic Unicorn, a UK-based company developing a biomanufacturing platform to scale the production of cultured meat, raised $3.2 million seed round led by Acequia Capital. The startup was incubated at Entrepreneur First in 2020 and wants to help reduce the cost of cultured meat.
Also working on reducing the cost of the next generation of food is Planetary, a Geneva startup that raised an $8 million round led by Astanor Ventures. The company builds large-scale production facilities to help companies using precision fermentation (cow-free dairy products) grow.
Start of online payments Volume raised a $2.4 million ride led by Firstminute Capital. They want to shorten the checkout process and reduce associated fees.
To flowa Dutch company working on the automation of payments between bank accounts and wallets, raised a seed round of $3.8 million led by Bulgarian company Eleven Ventures with participation from RockSalt, the venture capital arm of fintech SaltPay.
Apryla Berlin-based fertility benefits platform, raised 4.1 million euros in April led by Breega. The team wants to help companies offer fertility and family planning services to their employees.
Exogenousa startup using AI to develop new cell therapies to treat advanced cancer, raised a $2 million round led by Selvedge Venture.
Smedoa German company, raised €1.7 million for its system offering tools for measuring vital data in hospitals and nursing homes that can be used without contact with the patient.
Romanian startup bunny shell raised $4 million last month. It runs an “environment as a service” platform, which helps developers create environments to test obstacles and applications.
Oneio, a Finnish platform, raised €7.2m around led by Fairpoint Capital, for its cloud-native and automated integration services. The Helsinki-based startup wants to automate onboarding and delivery production.
Freya Pratty is a reporter at Sifted. She tweets from @FPratty and writes our sustainability-focused newsletter — You can register here.