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Amsterdam startup funding news, December 2022

Stay up to date with Amsterdam’s startup scene with our funding roundup for December 2022.

Cargoroo secures €10 million towards shared electric cargo bikes 

In a further boost to its mission to help make European cities car-free, Amsterdam-based smart mobility company Cargoroo has raised €10 million from investors including The Sharing Group and Participatiefonds Duurzaam Economie Noord-Holland (PDENH), alongside previous investor Fairtree Elevant Ventures. The funds will expand Cargoroo’s fleet of shared yellow electric cargo bikes across the Netherlands and Belgium, aiming to replace journeys otherwise taken by car. 

Share Council raises €1 million to help SME employees become co-owners 

Amsterdam-based social fintech Share Council has received €1 million from The Sharing Group and angel investors. The company offers an API platform that helps SMEs sell shares to their employees. It offers multiple forms of co-ownership – something that is usually difficult and costly to implement. Clients include Lightyear, Tony’s Chocolonely and bunq. The investment will help Share Council expand its team, improve its platform and enable integration with third-party share-trading platforms. 

Antler invests €100,000 in Insiber to help SMEs with cybersecurity 

Amsterdam’s Insiber, a one-stop platform for cybersecurity and cyber insurance, has received €100,000 from early-stage venture capital firm Antler, based in Singapore. Insiber’s offering helps match SMEs with tools and insurance tailored to their individual needs, helping protect companies from rapidly developing risks such as malware, ransomware, phishing and data-breach threats.  

€1.3 million crowdfunding lets BAQME launch e-cargo bike subscription service 

Shared electric cargo bikes startup BAQME has crowdfunded €1.3 million for a seed round that will allow it to launch a new subscription service. This round comes after an initial crowdfunding round that set records by raising the maximum target of €400,000 in only 35 minutes. Besides launching its subscription service, the funds will expand BAQME’s rider base. 

€125 million invested in econic to help accelerate energy transition 

A huge €125 million has been invested in Amsterdam-based econic, which helps create ‘e-homes’ by installing and maintaining sustainable heat and energy systems for a fixed monthly fee. €40 million in equity capital was provided by Rabo Investments, Rinkelberg Capital and Meewind, with a further €85 million in project financing from Triodos, ASR, Meewind and Rabobank. The funds will help accelerate making homes in the Netherlands and Germany more sustainable, contributing to the wider energy transition. 

Pixyle AI raises €1 million to improve customer search for e-commerce sites 

Amsterdam-based Pixyle AI has secured €1 million in a seed round from South Central Ventures. Pixyle AI helps e-commerce sites to better understand shopping intent by improving search function: training neural networks to interpret images like customers do, which in turn improves metadata towards results that are more consistent with what shoppers are looking for.  

IT services provider Broad Horizon acquires data specialist 2Foqus 

Amsterdam’s Broad Horizon, a group of companies addressing complex digital challenges in IT, has acquired 2Foqus, a Dutch specialist in data and analytics. The acquisition allows Broad Horizon to cover a wider range of solutions and customers, presenting a more comprehensive package with its now total 11 businesses and over 1,000 employees. 

Neobroker BUX acquires retail brokerage arm of Ninety Nine  

Amsterdam’s BUX, which provides easy-access investment tools across Europe, has acquired the retail brokerage arm of fellow neobroker Ninety Nine, a B2B embedded finance platform based in Spain. The acquisition will allow BUX to secure its brokerage services in the Spanish market, as Ninety Nine will no longer offer B2C brokerage services there, focusing instead on B2B and B2B2C services. 

AstraZeneca acquires biotech Neogene Therapeutics to innovate on cancer treatment 

Pharmaceutical giant AstraZeneca has settled its acquisition of Amsterdam-based biotech Neogene Therapeutics, which focuses on next-generation cancer treatments. Specifically, it develops T-cell receptor therapies, which have the potential to treat targets inaccessible to conventional oncology. The acquisition will allow AstraZeneca to present a broader cell treatment portfolio in its wider drive for better cancer treatments.  

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