Startups are striking deals and rising to the occasion
Despite the challenges created by the coronavirus (COVID-19), startups with a presence in the Amsterdam Area are doing deals and procuring funding. Two of the companies in this week’s roundup have been working to fight the virus and alleviate the problems it’s caused, highlighting the important role of startups during this challenging time.
Castor raises €10.13 million to help in the fight against COVID-19
MedTech startup Castor has raised €10.13 million in a Series A funding round led by Two Sigma Ventures, with participation from INKEF Capital and Ducera Growth Ventures. Castor’s electronic data capture system (EDC) allows medical researchers to easily capture and use reliable data from any source – including patient questionnaires – on a single platform. The new funding will be used to support research into the coronavirus and bolster support for remote trials.
Ivanti secures strategic investment to accelerate growth
Software company Ivanti, which specialises in IT security and management, announced that it signed an agreement with TA Associates. The private equity firm will make a strategic growth investment in Ivanti and will become an institutional shareholder alongside Clearlake Capital Group. The funding will be used to support innovation and international growth while allowing Ivanti to continue pursuing its acquisition plan.
Kinder raises nearly half a million in funding
According to inside sources, Kinder has reportedly raised nearly €500,000 and plans to pursue additional funding in the coming months. Aiming to use tech for the greater good, Kinder combines data and research to evaluate charities so people can make informed donations that will have a positive impact. Recently, the company teamed up with Rabobank Charity Management to raise money to help those affected by the coronavirus.
Overstory closes successful seed round
Overstory, previously known as 20tree.ai, has rebranded and closed a seed round that secured $1.7 million in funding. The company uses AI and satellite imagery to help clients with forest management and combat problems like wildfires. Climate fund Pale Blue Dot led the seed round, which also included participation from Futuristic VC, Techstars and Powerhouse Ventures. The financing will be used to support the launch of Overstory’s vegetation intelligence platform.
Stream procures funds to scale its international team
In a round led by GGV Capital with participation from several other backers, including 01 Advisors and Arthur Ventures, Stream raised $15 million in funding. The company, which was founded in Amsterdam, offers a fast and scalable API for creating social networks, chat apps and activity feeds and streams. It plans to use the money to scale its sales, marketing and engineering teams.
Additionally, Pharmaoffer, a tech startup that works to alleviate medicine shortages around the world, is also reported to have received funding, though no further information is available at this time.
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