Amsterdam startup funding news, June 2022
Stay up to date with Amsterdam’s startup scene with our funding roundup for June 2022.
Factris receives €10 million in funding
The Amsterdam-based fintech platform Factris has raised €10 million, which it will put towards its aim of providing fast and affordable capital to SMEs across Europe. Using factoring as its principal source of funding, Factris assists these SMEs with working capital based on unpaid invoices. With its services already established in five European countries, the company now hopes to expand even further.
NOWATCH closes €8.33 million deal
The Amsterdam-based healthtech company NOWATCH has raised over €8 million in a Series A round of funding for its ‘awareable’ device that measures and predicts stress by tracking cortisol levels through EDA sensors. NOWATCH now hopes to extend its market reach, scale its research and development operations, and strengthen its internal team.
Perpetual Next raises €320 million in Series A round of funding
Perpetual Next, an Amsterdam-based climate tech firm that converts biological waste streams into sustainable raw materials, has raised €320 million in a Series A round of funding. Thanks to this capital injection, the company aims to use the funds for technological acquisitions and projects aimed at mitigating the effects of climate change.
Bits of Stock secures €4.2 million for US expansion
The fintech company Bits of Stock from Amsterdam recently secured over €4.2 million in seed funding for its stock rewards programme. Bits of Stock’s platform aims to make financial instruments such as fractional shares more easily accessible. In the upcoming 12 months, the company intends to triple its size and add more brands. One of the company’s other main objectives is to grow its US-based marketing and sales teams.
Kugi Company raises €100,000 in funding
Amsterdam-based The KUGI Company received €100,000 in a new round of funding this June. The company creates and distributes alcoholic drinks made from natural, organic juices and herbs without the use of artificial sweeteners or flavours.
TestGorilla raises €66.83 million
TestGorilla, an Amsterdam-based business focused on HR technology, has raised more than €66 million in a Series A round of funding. TestGorilla is a pre-assessment tool that assists businesses in finding the best personnel by evaluating candidates’ skill sets. After receiving €80 million in a previous round of funding, the company now hopes to further develop its programme.
Lalaland receives awards from Google’s Black Founders Fund
The Amsterdam-based software platform Lalaland has been selected as one of the recipients of Google’s Black Founders Fund. With this fund, Google aims to ‘strengthen racial equity in Europe’. Lalaland is one of 30 companies in Europe that made the cut and will receive €82,000 in equity-free cash, plus over €180,000 in Google Ad Grants and Cloud credits.
Sustainable fashion brand receives €210,000
The Amsterdam-based sustainable fashion brand Elements of Freedom has received €210,000 from an angel investor. The company is a sustainable clothing brand that is committed to the use of high-quality and natural fabrics.
Instant Commerce raises €2 million
The startup Instant Commerce is ready to redefine ‘how eCommerce brands build and manage headless storefronts’ thanks to a €2 million capital injection in its pre-seed round of funding. With this funding, the Amsterdam-based startup hopes to further its platform and expand into other international markets.
Anywyse receives an undisclosed amount of funding
Anywyse has raised an undisclosed amount of funding for its audio learning platform. The Anywyse platform offers students audio modules (or ‘Wysers’) that last 10 to 15 minutes. Instead of the more ‘linear listening’ found in podcasts, ‘Wysers’ are developed to help students learn better. The company now hopes to scale its operations and reach more students.
Omnimap secures €3 million in funding
Omnimap has secured €3 million in funding to help accelerate its growth. The Amsterdam-based company offers customers ‘low-code integrated business technology and business process automation’. This round of funding, which includes the first investors, will enable Omnimap to extend vertical solutions and accelerate its expansion.
KeyWi.io raises funds for its keyword analysis tool
The Amsterdam-based software tool KeyWi.io has raised an undisclosed amount of funding thanks to the Graduate Entrepreneur Fund. KeyWi.io claims to be the quickest keyword analysis tool for SEO. This tool is already used by more than 30 marketing agencies to help improve their organic search traffic.
Wakuli secures funding from ABN AMRO
The Dutch company Wakuli has received an undisclosed amount of funding from ABN AMRO’s Sustainable Impact Fund (SIF). On Wakuli’s platform, consumers can order speciality coffee that is sourced from small-scale farmers in fifteen different countries and roasted sustainably.
Backbase becomes a unicorn
Backbase, the engagement-banking platform with headquarters in Amsterdam, has raised €120 million in growth equity funding. With a current valuation of €2.5 billion, the company has now also achieved unicorn status. According to Backbase, the funds will help accelerate its aim of restructuring banking with a stronger consumer focus and further develop its vision for ‘engagement banking’.
Quicargo raises €2.7 million in funding
The regional development agency Quicargo has received €2.7 million in funding. Quicargo’s AI and self-learning algorithms connect companies in need of transportation with available trucks, reducing journeys without cargo and levelling the playing field for SMEs. The company says that the money raised in this round would help it move on with its plan to establish a zero-emission freight network by introducing a ‘green ride’ option.
Hacker-led security startup Hadrian nets €10.5 million in unsolicited seed funding
The ‘hacker-led’ cybersecurity startup Hadrian has closed a deal for €10.5 million in unsolicited seed funding. Hadrian, which has offices in London and Amsterdam, offers an SaaS platform that simulates a hacker attack. The funding round was led by HV Capital and the money raised will be used to attract and onboard new talent, consolidate Hadrian’s European markets and prepare the company for expansion into the US.
We Are Eves secures funding for European expansion
The community-based beauty platform We Are Eves received an undisclosed amount of funding from the new angel investment firm Joanna Invests. The Joanna Invests organisation in Amsterdam connects female angel investors with female-founded enterprises to provide finance and expertise. Thanks to this investment, We Are Eves will be able to accelerate its expansion into Europe, with the number of users writing reviews about beauty products on its platform steadily increasing.
Fastned raises €23 million
Fastned, which provides fast-charging networks for EVs, has raised €23 million with the issue of new bonds. The total issued amount in this round is now close to €30 million, after investors extended over €7 million in investments from other issues. This will now enable the company to keep making investments in the development of its network across Europe.
Textkernal acquires employment app Akyla
The Dutch employment app and portal expert Akyla has been acquired by Textkernal, an Amsterdam-based provider for recruitment software. The acquisition of Akyla will increase the importance of Textkernal’s search-and-match algorithms, enabling staffing companies to efficiently and automatically match people and jobs.
Fung receives €2.54 million in funding
Fung, an Amsterdam-based startup for crypto payments infrastructure, has raised €2.54 million in a pre-seed round of funding. Fung aims to merge crypto and fiat payment rails to provide a streamlined, secure system; it now plans on expanding its team, operations and business reach.
WE.VESTR raises €2.2 million in latest funding round
Amsterdam-based WE.VESTR, which provides an all-in-one equity management platform for business founders and investors, has raised €2.2 million in a new funding round. WE.VESTR’s platform simplifies managing legal documents as well as information on share distributions and KPIs. Companies can also use it to implement new compensation schemes without involving a notary. According to WE.VESTR, the funding will be used for expansion in Europe and for entering the Middle East and APAC regions; the company also plans to develop solutions for more shareholder transparency.
LoopingOne secures €800,000 in funding
LoopingOne, a flexible payments platform for marketplaces, has raised €800,000 in a seed round of funding. According to the Amsterdam-based company, the funding from Ebury, one of the world’s largest fintech agencies, will be used to further develop its product and start the EMI application process at the Dutch Central Bank.
Ximedes acquires payment platform provider Ginger
The Amsterdam-based payment platform provider Ginger has been acquired by the fintech firm Ximedes. Ginger gives banks and financial institutions the chance to innovate their customer experience. Following a surge in demand for banks and financial institutions to improve client experiences, the acquisition will help accelerate Ginger’s roll-out in Europe.
Goldman Sachs Group Inc. acquires Norgine
The Stein Family has reportedly agreed to sell a majority stake of the Amsterdam-based speciality pharmaceutical company Norgine to Goldman Sachs Group’s private equity arm. The financial terms of the transaction were not disclosed, but Norgine chairman Peter Stein states that the transaction will help the company accelerate its growth plans and assist in the development and launch of additional medicines.
StudyTube acquires SPEAKRS
The Netherlands-based inspiration platform SPEAKRS has been acquired by StudyTube, a customised learning platform for businesses. After acquiring Springest earlier this year, StudyTube secured this new deal to add more than 100 masterclasses by well-known speakers to its platform.