The Estonian fintech startup SPARQ, which promises to change how we manage personal finances, has secured financial backing of €450K from the Baltic International Bank, taking the total funding to over €500K. SPARQ was founded in 2019 and this second round of seed funding will be used to develop the startup’s “Early Access Stage”, which will feature the…
Despite the difficult market context and an extremely uncertain scenario, MotorK, the leading automotive sales and marketing technology company in Europe, announces today a fundraising of more than €10 million (mix between equity and debt funding) to further accelerate its growth in the post-covid low touch economy. Real Web, the holding behind a number of…
The gaming industry is bigger than the music and movie industry combined and the sector is only going to grow bigger. With lockdown and social distancing in effect, people turned to gaming as an activity for unwinding and having fun at home. Additionally, game creator studios too reported significantly increased sales during this period. The Finnish mobile game company Metacore has also reinvented itself and it landed a notable €25M in fresh financing, all while launching a new gaming title.
Metacore raises €25M in equity and additional funding
Metacore was previously known as Everywear Games. The company has rebranded itself and also raised a €15M investment and a €10M credit line from Supercell, which is another Finnish game developer with notable mobile games titles under its belt, including Clash of Clans. The latest investment will help Metacore fuel the global release of its first title, Merge Mansion.
“Most companies will start with the core loop or gameplay mechanic. Our approach is to lead with the metagame – the core elements and experiences of a game that make a player jump back in over and over again. This was a key factor in how we designed Merge Mansion, and will continue to define our approach to game development,” says CEO and Co-Founder Mika Tammenkoski.
As per the company, its approach to game development seems to be working as Merge Mansion’s player’s 30-day retention rate is apparently around 24% among beta testers.
“These metrics are very impressive, the kind we see when we have a hit game on our hands,” Supercell’s Developer Relations Lead Jaakko Harlas says.
Merge Mansion for the masses
Metacore will now focus on rolling out its first title, Merge Mansion, for a wider audience. Furthermore, it will explore and develop new “metagames.” The company is also aiming at growing its existing team of 15 employees and says it will add at least 10 new hires across functions, including marketing, game design and back-end development.
“Although we’re seeking aggressive growth, our strategy is to keep our teams compact and nimble so they have the freedom to try out new things and run with what works best,” COO and Co-Founder Aki Järvilehto notes.
Image credits: Metacore
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Varada, a Tel Aviv-based big data query acceleration company, recently announced a $ 12M (approx €10M) Series A round of funding led by MizMaa Ventures, an early-stage VC venture capital ﬁrm, with participation by Gefen Capital.
The existing investors including Lightspeed, StageOne Ventures, and F2 Venture Capital also participated in the round. The funding comes as the Israeli startup is preparing to launch its data virtualisation platform in general availability.
What problem does Varada solve?
Right now, the data space is driven by two emerging technologies: data lake and data virtualisation. Notably, the data lake enables organisations to avoid extensive, pre-consumption ETLs (Extract, Transform, Load) and significantly cut down on time-to-market.
With data virtualisation, disparate data sources are unified and data consumers can now query any data from a single end-point. This eliminates the heavy IT operations burden of configuration, modeling, and movement of data. However, the current data virtualisation options are hamstrung by scaling limitations and this is the problem Varada aims to solve.
“Varada is solving the biggest headaches of data infrastructure teams while giving business units the tools to quickly and cost-effectively turn their priceless data assets into value for customers,” says Eran Vanounou, CEO of Varada. “I know this problem firsthand, as I was the CTO of LivePerson before joining Varada. When I met the founding team, I was blown away at their vision for how to solve one of the thorniest problems in big data. The platform we’re building enables revolutionary ease-of-use, fast time-to-market, and cost control. This round of Series A funding will accelerate the progress of our solution and allow us to quickly scale our plans to deliver the new standard for data virtualisation.”
“Zero data-ops” solution
According to Varada, it is building a platform to revolutionise data virtualisation by offering an agile, “zero data-ops” solution. The company’s patented indexing technology uses machine learning to accelerate relevant and high-priority queries automatically without any overhead to query processing or any data maintenance. As per the company, the indexing works transparently for users, and indexes are managed automatically by Varada’s proprietary cost-based optimiser.
Varada was founded by David Krakov, Roman Vainbrand, and Tal Ben Moshe, veterans of the Dell EMC XtremIO core team, and is dedicated to leveraging new architecture to take on the challenge of data and business agility. The company has headquarters in Tel Aviv, with U.S. offices in San Mateo, California.
Main image credits: Varada
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data.world, the cloud-native enterprise data catalog company, today announced it has closed a $ 26 million round of venture capital funding led by Tech Pioneers Fund. Other participants in the round include new investors Breyer Capital, Prologis Ventures, and Alumni Ventures Group. Existing investors, Shasta Ventures, OurCrowd, and Workday Ventures also participated, along with several prominent angel investors including Arthur Patterson, Lincoln Brown, and Cotter Cunningham.
Read more here.
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With enterprise IT forming the connective tissue that ensures companies operate efficiently, Experience Level Agreements (XLAs) have become an emerging trend, a few companies specialise in this sector. Working on this front, HappySignals, a Helsinki-based Employee Experience Management Platform for IT makes experienced data visible and understandable. This way, it enables enterprises to change their culture to be more open, data-driven, and outcome-focused.
Secures €4.7M Series A funding
Now, HappySignals has closed a €4.7M Series A funding led by Nauta Capital, along with participation from Vendep Capital. This funding takes the overall funding secured by the Finnish startup to €6.2M. The company will use this investment to strengthen its mission of helping enterprise IT lenders and scaling their presence in the US and Europe.
“We believe happiness and productivity are the keys to transforming business IT culture for the better,” says HappySignals CEO Sami Kallio. “We do this by giving enterprise IT leaders the employee experience data they need to make outcome-focused IT decisions that drive digital transformation.”
“In Nauta Capital, we’ve found the perfect partner to help us scale operations. Their strong track record of supporting B2B disruptors represents a wealth of experience that will ensure we make the right moves going forward. We are also extremely thankful for the continued support of Vendep Capital, who has been with us almost two years now,” he adds.
Focuses on employees’ happiness
HappySignals founded in 2014 Sami Aarnio, Pasi Nikkanen, and Sami Kallio makes employees happier and increases productivity by 26% on average. It measures the experience possessed by employees and gets high volumes of experience data and merges it with operational data. The experience data is shared with partners, vendors, and stakeholders in real-time and help clients reach their goals. HappySignals creates an experience-driven IT department and improves overall productivity.
Main image picture credits: HappySignals
Social distancing is the need of the hour and commute post coronavirus can’t be what we were used to. Biking, as an option to commute over short distances, is picking up again with a modern twist. A new report suggests that the global E-bike market size is set to reach a staggering $ 46.04B (€38.9B) by 2026, which suggests that E-bikes could soon be the preferred option for commuters. The same seems to be believed by investors as Amsterdam-based e-bike manufacturer VanMoof has secured €33.7M in Series B funding.
VanMoof raises €33.7M just months after €12.5M investment
In the middle of lockdown in Europe, in May, VanMoof raised €12.5M investment. Now, the company has secured another €33.7M from Norwest Venture Partners, Felix Capital and Balderton Capital. Like before, the company says it will utilise the funds to fuel further global expansion and bolster its manufacturing process. The latest funding round brings the total amount raised by VanMoof to a notable €61.8M.
Cities around the world have realised the importance of cycling as an option to commute after COVID and are investing in its infrastructure too. “E-bike adoption was an inevitable global shift that was already taking place for many years now but COVID-19 put an absolute turbo on it to the point that we’re approaching a critical mass to transform cities for the better,” says Ties Carlier, co-founder VanMoof.
VanMoof says it realised a 220% global revenue growth during worldwide lockdown and sold more bikes in the first four months of 2020 than the previous two years combined.
Fulfilling increased demands and building rider service solutions
VanMoof will use the amount from its latest funding round to meet the increased demand for its e-bikes and shortening delivery time. The company will drive its expansion plans further into key growth markets such as the US and Germany, where new brand stores and pop-up shops will be opened.
Additionally, the company will invest a portion of this amount in creating a suite of rider service solutions, which will be aimed at delivering “best-in-class” support. “Our next frontier is to transform our business by building a full support ecosystem around every rider,” says Carlier. The company’s ecosystem includes a global mobile service network, upgraded app support, updated software with remote diagnostic solutions, and more proactive customer support.
Image credits: VanMoof
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