Startup funding in Amsterdam
Money makes the world go round, and the startup world is no different. The latest funding rounds closed in June with Netherlands-based startups raising €206 million of investment since mid-April – 30% higher than the €149 million raised in Q1. And it wasn’t just tech startups that dominated this round. Companies across a wide range of sectors also secured substantial capital to enable further growth.
It really should be no surprise though, given Amsterdam’s unparalleled connectivity, tech innovation and supportive startup ecosystem. And it doesn’t hurt that Amsterdam’s cultural offering and work-life balance are among the best in the world. This attracts plenty of highly skilled workers to the city each year, adding to the city’s already rich talent pool. Plus the Dutch capital is packed full of keen venture capitalists, angels and investors who are always looking out for the city’s most promising up-and-coming companies. Needless to say, access to capital in Amsterdam couldn’t be better.
So keep an eye out for these five exciting Amsterdam-based startups that are predicted to do big things in the near future (especially now their cash flow is significantly improved). To see the full funding overview for Q2, visit Startup Juncture and Silicon Canals.
Digital Insurance Group
This insurtech platform raised a huge €15m in two funding rounds, co-led by Zurich Insurance and Finch Capital. Established in 2017 and with offices in Europe and Latin America, Digital Insurance Group (DIG) provides a data-driven insurance platform that enables insurers, banks and other companies to offer fully integrated insurance solutions to their customers.
Their new funds will help them grow their client base in Europe and reach customers further afield, too. Things are really looking up for the company: they also recently signed a multi-year partnership agreement with Zurich Insurance Group. The deal means DIG will use its state-of-the-art technology stack to support Switzerland’s largest insurer to develop innovative mobile solutions that are continually optimised using deep customer data analytics.
Founded in 2016 by oncologist Hans van der Vliet, this biotech startup is focused on treating cancer based on research from the Vrije Universiteit Amsterdam. Lava Therapeutics develops bispecific antibodies (‘smart’ antibodies capable of distinguishing normal cells from cancer cells) for the control of cancer. The startup raised a total funding amount of €16 million from various investors in just a single funding round, including Gilde Healthcare, Versant Ventures, Biox Biosciences and MRL Ventures Fund (affiliated with the American pharma group Merck & Co). With the fresh capital, Lava Therapeutics wants to make its most important candidate medicines suitable for testing on patients.
In its Series B round, GreenFlux raised €11 million from energy company Eneco, investment companies SET Ventures and BOM Brabant Ventures, and automation company ICT Group. The smart charging company offers innovative solutions that make electric driving the new normal by developing software, hardware components and management services for charging stations that allow drivers to easily and quickly recharge their electric car or bike. The company is active in 15 countries across Europe, but founders Hans de Boer and Jurjen de Jong aim to use the growth capital to finance the company’s expansion in Europe, Asia and the US.
The ‘Netflix of fitness’ allows users to book yoga and fitness classes through their handy app. With offices across the Netherlands and Germany, OneFit will use their recently acquired €4.25 million to expand across Europe and drive product innovation. Founded in 2013, the app offers users one-click-booking to over 15,000 yoga and fitness classes each week. Members can join these group workouts or check in for individual training at over 600 different studios and gyms for a monthly fee. With convenience and choice being top of the list in almost all sectors these days, the app reached 1 million workouts in February 2018.
To make journalism accessible to everyone, online kiosk Blendle allows users to read articles from newspapers and magazines for a small amount per article, while Blendle Audio lets members listen to stories from newspapers and magazines on the go. After launching in 2014, Blendle now has more than one million users across the Netherlands and Germany. The startup recently raised €4 million from Danish investor Morten Strunge and BookSpot, a subsidiary of Novamedia. The company will use the investment for further growth, with a focus on their audio service.
Want to keep an eye on which Amsterdam-based startups raise funds? Stay up to date via the Amsterdam Startup Map.