They warned that a VC winter was coming but these Luxembourg tech companies are managing to keep the lights on and more.
According to Dealroom data published on the Startup Luxembourg dashboard, Luxembourg tech entrepreneurs disclosed that they raised around €132.7m during the first six months of 2023.
Here are the top 10 companies that disclosed the most funds raised.
This climate tech scale up verifies the impacts of carbon markets and Scope 3 emissions. In June, it raised $37m Series B funding with investments from Partech, Hartree Partners and existing shareholders, such as the Microsoft Climate Innovation Fund. Founded in 2018 and headquartered in Livange, SustainCERT currently employs over 100 people. This fundraising round was announced in June 2023 and follows a $10m Series A in 2021.
Read Silicon Luxembourg’s coverage of SustainCERT.
In February, smart data centers firm Etix Everywhere raised $30m in growth equity through Eurazeo. Founded in 2012, it has offices in France and Luxembourg. In July the firm announced plans to acquire five data centers in France, bringing its total number of data centres in France to 12, with a further three in Belgium, Bangkok and Colombia.
In June, Luxembourg’s number one booking and management tool for beauty and wellness services closed a €28m Series B fundraising round. The round was led by PeakSpan Capital, a growth-stage B2B investment firm with offices in New York and Silicon Valley, and over $1.5 billion under management. Existing investors all participated in the round too, supporting Salonkee’s continued expansion and innovation plans.
Read Silicon Luxembourg’s coverage of Salonkee.
Belval-based open-source intelligence firm Tadaweb in January announced it raised €15m in growth equity after PE firm Wendel Growth took a minority share in the company. Tadaweb makes it easier and faster for organisations to generate intelligence from publicly available information, helping them detect trends and accelerate their investigations. The investment was earmarked to fuel the firm’s expansion into the US and other European markets.
Read Silicon Luxembourg’s coverage of Tadaweb.
In April, Luxembourg fintech Next Gate Tech announced it had raised €8m in a new funding round led by the Corporate Venture Capital unit of Deutsche Börse Group.
The funds, which were also raised with the continued support of existing investors; NewAlpha Asset Management, Volta Ventures, Expon Capital, and Seed X, are expected to accelerate the development of the firm’s data management, insights and analytics solutions. Founded in 2019 and with offices in Luxembourg and London, the SaaS provides smart data management, generating calculations to oversee delegates, analyse investment behaviour, compare performance and generate risk-based metrics.
No-code cloud management platform emma announced in March that it had successfully raised $6m in Seed stage funding to further develop its platform and boost team size, driving expansion in North America. The funding round was led by RTP Global, with participation from AltaIR Capital and CircleRock Capital. Founded in 2019 and launched in 2012, emma (enterprise multicloud management application) aims to make cloud resources as easy to access as electricity or the internet.
Office-sharing platform Office-sharing startup Fiveoffices in March closed a €3.2m fundraising round to drive expansion into new markets. The funds were raised by business angels less than a year after Robert Glaesener and Dan Schneider launched the smart office solution in Luxembourg. In October 2022, Fiveoffices expanded into Paris, and by the end of 2023 will begin activities in London.
In June, Keym, the social media networking platform for the music industry, closed a €1m pre-seed fundraising round from an undisclosed source. Founded in 2021, the platform founders told Silicon Luxembourg that they want “to be recognised as an innovative and unifying space in the music ecosystem in France and Benelux.”
Read Silicon Luxembourg’s coverage of Keym
This Luxembourg-based platform helps customers borrow crypto using NFTs as collateral. In May it raised $1m in Seed round funding through angel investors and Atka, Lionschain Capital, Blockhub DAO, Kima Ventures, NxGen with the support of Bpifrance, Aave Companies and Crypto.com
Educational SaaS Kidola started the year off on a high after raising €600k with Project Rise, a Luxembourg VC platform created by serial entrepreneurs in the grand duchy. The startup began as a side project from concerned parents before being incorporated in 2020. Already active in Luxembourg and Belgium, Kidola’s platform simplifies childcare professionals’ and parents’ lives by digitising communications.
Read Silicon Luxembourg’s coverage of Kidola