French AR startup Spectral TMS raises €2 million for its solution that guides and trains industrial technicians

Spectral TMS, a leading French startup in the field of autonomous augmented reality for the industrial sector, has raised €2 million seed funding. The round was participated in by the Elaia investment fund, together with the historical investors of Spectral TMS. Founded in 2018 by Amaury Cottin and Maxence Boucas, Spectral TMS simplifies the transmission…

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Brussels-based Awell Health raises €2 million to bring collaboration and productivity tools to the healthcare sector

Awell Health, the Belgian healthcare technology startup, has raised around €2 million to bring unique collaboration and productivity tools to the healthcare industry. Early stage VC investor LocalGlobe led the round, with involvement from Moonfire. Awell Health, founded in 2018, enables healthcare organisations to create, implement and continually update care pathways to improve patient outcomes….

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Danish drone startup QuadSAT raises €2 million to boost its antenna testing tech

QuadSAT, a Danish company that is revolutionising thetest and measurement of satellite antennas, announced today that it has closed a €2 million Pre-Series A Investment, one of the largest venture investments in a Danish drone tech company. The round was led by Seraphim Capital, the world’s first venture fund dedicated to SpaceTech, Vaekstfonden, the Danish…

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British startup HumanForest, a ‘free’ shared e-bike, raises €2 million and appoints Cabify Founder to its Board

The British startup HumanForest, a shared e-bike offering the first 20 minutes for free, has raised around €2 million from leaders of the mobility sector, including founders of the first profitable ride sharing App, Cabify. Set up by former-Cabify lead, Agustin Guilisasti and backed by both Cabify Founders, Juan de Antonio and Vicente Pascual, HumanForest…

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Barcelona-based medtech IOMED raises €2 million to expand across Spain, Germany and the UK

Today IOMED, a company that specializes in transforming Electronic Health Records (EHR) into structured data for clinical research, has closed a round of €2 million, led by the venture capital fund Adara Ventures. Existing investors in the company, such as EASO Ventures (Spain) and Speedinvest (Austria), have also taken part. 

IOMED’s technology, based on artificial intelligence and natural language processing, allows hospitals to transform information from medical records (written in free text format) into coded and structured data. This allows hospitals to significantly accelerate their clinical research and maximize research results.

The company, founded in 2016, works with hospitals throughout the country, running projects in 27 Spanish centres, including hospitals such as the Vall d’Hebron Hospital and the Hospital del Mar, in Barcelona, and the Cruces-Biocruces Bizkaia University Hospital in the Basque Country, among others.

“This round’s goal is to strongly expand our team and our capacities, with the idea also to continue the expansion in Spanish hospitals as well as to undertake more activities abroad with a particular focus on Germany and the United Kingdom”, explains Javier de Oca, co- founder and CEO of IOMED.

Rocío Pillado, partner at Adara Ventures, points out that “with its technology, Iomed is changing the rules of the game in clinical research, contributing an enormous value through the streamlining of long processes of data collection that usually impose barriers on a high percentage of clinical studies”.

Among the most recent projects carried out by IOMED is a study on COVID-19 that is currently being carried out in hospitals within several Autonomous Communities.

The main objective of the study is to shed light on the coronavirus by determining which population groups are most affected; how therapies are managed in the absence of validated treatments; which treatments are most effective; what differences are there regarding these issues in comparison with other types of pneumonia; or what variables help us predict who will be infected, hospitalized and how many deaths there will be.

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Berlin-based Segmentive secures €2 million to launch new live video editing tools for mobile

Deep-tech computer vision startup, Segmentive, today announced closing its €2 million seed round in a bid to deliver whole-body video segmentation, in real-time and on mobile.

Founded in 2019, Segmentive allows users to intelligently remove themselves from live backgrounds to be transported into a scene of their choice, enabling a broad range of AR/VR use cases. Segmentive’s cutting-edge approach combines deep learning techniques with the industry’s most advanced online learning neural network algorithms to replicate and scale human understanding of scene identification. The startup is actually a spin-off from parent company, Cinector, with years of special effect experience in movies. 

To date, removing the background from a video of a moving person on a mobile device in real-time has been impossible. The technology is designed to be used by social media platforms looking for unique features to transport users to different worlds by changing their backgrounds. Segmentive has applications with mobile phone manufacturers and tech giants looking to push the boundaries of computer vision to create new commercial applications.

Lutz Roellig, Segmentive CEO commented: “[This] funding will accelerate the delivery of our multi-layer segmentation technology mobile prototype and allow us to make key hires to support execution. VR and AR use cases have been held back by an inability to display crisp edges on mobile devices as humans move around in virtual environments –  Segmentive’s technology breaks through this barrier to deliver fine details in real-time video on modern mobile devices.”

Segmentive unlocks new computer vision capabilities, never seen before by pre-classifying each frame into background and foreground using a pre-trained, convolutional neural network. Using online learned classifiers, Segmentive can achieve super-sharp edges in real-time dynamic videos.

The €2 million seed round was led by Leipzig based Technologiegruenderfonds Sachsen (TGFS). TGFS is an early-stage VC fund targeting high tech startups with strong growth potential and has invested in over 120 companies in its 20-year history.

TGFS’s Investment Director, Friedemann Stier commented: “Segmentive has proven the technology works and TGFS is pleased to be able to fund the growing team of computer vision experts to deliver the first working prototype. Leadership, combined with the teams’ skill and ingenuity makes Segmentive stand out as a winning combination.”

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Budapest-based AerinX lands €2 million to take its digital aircraft maintenance solutions international

Budapest-based AerinX, which develops and provides digital aircraft maintenance solutions, has closed a pre-Series A round of €2 million, led by Takarék Venture Capital Fund I, managed by DBH Investment. The startup will use the funds to enter international markets this next year.

Budapest-based AerinX develops innovative hi-tech solutions assisting with external surface checks and the conduct of related maintenance of aircraft. The company’s first product is a mixed reality (MR)-based aircraft inspection system that supports the work of professionals with external surface inspection of airplanes and other aircrafts, together with the related maintenance tasks. The system, which significantly accelerates workflows, is already being used in test phase since the beginning of this year by Aeroplex of Central Europe, which is one the largest MRO (maintenance, repair and overhaul) companies in Central Europe.

With the investment, the company is going to significantly accelerate its technological research and development as well as business development activities to enter international markets. Besides Aeroplex, other major international aircraft maintenance companies are starting to use AerinX’s MR system soon within the frameworks of the company’s Early Adopter Program.

“Takarék Venture Capital Fund sees huge potential in the smart aircraft inspection system developed by AerinX, which absolutely fits into the major digitalization processes currently affecting the aircraft industry worldwide. In our opinion, the company will be able to gain significant market share in the aircraft maintenance industry, achieving a dominant position among technologies emerging”, underlined Marcell Horváth, CEO of DBH Investment, fund management company of Takarék Venture Capital Fund.

“With the venture capital investment received from Takarék Group, we hope to accelerate market entry planned for early 2021. In the coming 6-9 months we are going to continue our R&D activity to finetune and extend the functionality of our smart aircraft inspection system. We are especially glad that over the past year we managed to grow the company valuation of AerinX significantly, which was acclaimed by Takarék Group with its investment”, said Antal Bence Kiss, Co-Founder and CEO of AerinX.

The company also plans a Series A round of funding within the next 12-18 months involving international investors to accelerate international growth.

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UK startup NumberEight raises a €2 million seed round to predict consumer behaviour

UK-based NumberEight, a contextual intelligence platform for mobile devices that predicts consumer context to deliver the right content at the right time, has closed a €2 million seed round led by Nauta Capital.

NumberEight leverages advanced context recognition, artificial intelligence, and signal processing techniques to produce over 100 contextual insights such as “travelling to work on a bicycle” to provide mobile apps with real-time behavioural and situational consumer insights.

Their online dashboard takes these real-time events, anonymises and correlates them with in-app activity to empower its customers to deliver context-driven, real-time personalised experiences to the user.

Founded in 2016, the UK-based company was founded on the back of co-founder and CEO Abhishek Sen’s research into signal processing and recommender systems at TU Delft and after working in mobile companies including Apple, Palm, and BlackBerry.

CEO Abhishek said: ”The idea of NumberEight started by asking a simple question: why can’t my sophisticated smartphone automatically recommend music to me based on my current mood and activity?

For technology to truly be transformative, machines need to become more like humans, and not vice-versa. As we interact with more devices around us, empowering devices with the cognitive ability to think for themselves, without compromising our privacy, is paramount. This is what contextual intelligence is. It unlocks the ability for companies to deliver hyper-personalised and relevant experiences across all devices.”

“User privacy was at the heart of our decisions from day one. The common approach of collecting bulk user data for analysis in the cloud introduces difficult consent issues, so instead, we researched new algorithms that allow this advanced technology to work on humble consumer phone hardware. The hard-earned result is a platform where sensor data never leaves the user’s device, and privacy is preserved,” explains Chris Watts, NumberEight’s CTO and co-founder.

Context-based personalisation is an emerging concept within mobile computing – driven by the need to have frictionless and tailored interactions with mobile devices on one hand, while on the other anticipating user actions and behaviour when delivering content at an individual level.

NumberEight’s technology can power the entire mobile app ecosystem across various sectors, however, the company is currently focused on the €132 billion Media and Entertainment market– from music streaming and online radio to mobile gaming and advertising. Furthermore, the cash injection comes as the global COVID-19 pandemic has led to a significant increase in media consumption across all generations as revealed by Global Web Report.

The round will support NumberEight’s enhancement of its patent-pending technology, hire new engineering and commercial talent, and accelerate their business growth.

As part of the round, Nauta Capital’s General Partner, Carles Ferrer, will join NumberEight’s board. Commenting on the investment, Carles said: “NumberEight’s ability to apply edge AI and mobile sensor data to truly power real-time user context is a highly compelling proposition. Abhishek and Chris have built a best-in-class solution providing powerful consumer insights while putting privacy first. We are thrilled to join the team as they go on to scale their context-as-a service offering.”

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Budapest-based Barion just landed €2 million to expand its payment solutions further across Europe

European private equity firm Financial Services Capital Partners LLP has successfully led the €2 million Series B funding round of Barion Payment plc, a leading Hungarian fintech startup. The new funding wiill enable Barion to continue its expansion into additional European markets and bring to market innovative payment products and services.

Barion is one of Financial Services Capital’s first investments as part of its Enabling Technologies portfolio. Barion, established 2015 in Budapest, Hungary, provides electronic payment solutions: an online payment gateway and an electronic wallet. The fintech has achieved dynamic growth since its launch, and currently serves more than 7000 e-commerce partners in five countries (Austria, Czechia, Hungary, Germany and Slovakia), with its processing volume having tripled over the past year. Barion was listed among the 10 Hungary-based startups to watch out for in 2020 on EU-Startups this January. 

To date 2.3 million users have used Barion’s payment services, with total volume of transactions surpassing €300 million per year. The fintech plans further dynamic expansion in Central Europe and intends to launch a range of new services soon. Previously, Prague-based Home Credit Group, one of the largest personal finance providers in Europe also invested into Barion within the frameworks of a Series A investment round.

Financial Services Capital is a sector specific European private equity firm with a presence in London, Prague, Madrid, Vienna and Luxembourg. It leverages its team’s vast operational experience and proprietary technology solutions to create transformational value across financial services portfolio companies.

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Nantes-based Mr Suricate raises €2 million for its AI-driven web testing tech

French e-commerce startup Mr Suricate announces a second funding round of €2 million with West Web Valley, SWEN Capital Partners and its existing investor Pays De la Loire Participation (SIPAREX). This comes after a first fundraising in February 2019 of €500K, from Pays de la Loire Développement – Sodero Gestion, and Pays de la Loire Participations – regional funds advised by SIPAREX, 

In 2015, e-commerce experts Fabrice Beck and Fabien Van Herreweghe realised that there was no product on the market for companies to detect and qualify bugs in their customer experience journey. After 3 years of research and development, the duo launched Mr Suricate in 2018 in a package model, so their corporate clients aren’t hit with any unexpected costs and can continuously monitor and test their websites, in real-time. The startup has already won major clients, such as FNAC Darty and TUI France.

With the fresh funds, the startup intends to further enrich its technical innovations currently in place, accelerate its commercial development and expand its team, with the creation of more than 60 positions.

Fabrice BECK, President of Mr Suricate, commented: “This second round, which takes place only 15 months after the first, is very important for Mr. Suricate. It gives our company the means to achieve its ambitions. Currently, there is no company test on the market like Mr Suricate with the capacity to present a global offer of tools and services. With this fundraising, we will be able to quickly fulfill all of our objectives, while crossing new technical milestones, especially in the deep learning of the tool in order to further enrich our services. In addition, we will be able to massively recruit more than 60 employees by the end of 2022 in order to support the growth of the company and initially position ourselves quickly for continuous integration” (quote translated from French).

“The SWEN investment committee was won over by the relevance of Mr Suricate’s solution, which is fully in line with the trend of efficient digitalization. We are all the more delighted to be able to support Fabrice, Fabien and their teams whose human values ​​join those of SWEN Capital Partners”, commented the SWEN Capital Partners team (quote translated from French).

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