11 European startups raised multiple funding rounds (excluding extensions) in 2024, with Berlin carbon management specialist forward earth and Stockholm AI legaltech Leya both achieving the rare feat of closing three rounds each in a single year.
A Sifted analysis found that six of the 11 repeat raisers in 2024 were AI startups, underlining the growing VC fascination with this sector and the huge investment needs of AI systems. Eight of the 11 were founded in 2023 or 2024.
High-profile investors including Accel, Google Ventures and Speedinvest feature, with some returning to back the same startups twice in 2024.
Here’s the full 11 repeat raisers in detail:
1\ Tessl
HQ: London, UK
Description: AI tool that writes code
Funding rounds:
- $25m seed in February led by Boldstart Ventures and Google Ventures
- $100m Series A in November led by Index Ventures
Follow-on investors: Google Ventures, Boldstart Ventures
2\ Filigran
HQ: Paris, France
Description: cyber threat management platform
Funding rounds:
- €15m Series A in February led by Accel
- $35m Series B in October led by Insight Partners
Follow-on investors: Accel, Moonfire Ventures
3\ Leya
HQ: Stockholm, Sweden
Description: AI legal assistant
Funding rounds:
- $500k accelerator funding in April from Y Combinator
- $10.5m seed in May led by Benchmark
- $25m Series A in July led by Redpoint Ventures
Follow-on investors: Benchmark, Y Combinator
4\ Granola
HQ: London, UK
Description: AI note-taking app
Funding rounds:
- $4.3m funding round in January led by Lightspeed Venture Partners
- $20m Series A in November led by Spark Capital
Follow-on investors: Lightspeed Venture Partners, Betaworks, Firstminute Capital
5\ Cogna
HQ: London, UK
Description: AI tool that writes enterprise software
Funding rounds:
- £3.8m pre-seed in March led by Hoxton Ventures
- €14.2m Series A in November led by Notion Capital
Follow-on investors: Hoxton Ventures, Notion Capital
6\ Distance Technologies
HQ: Helsinki, Finland
Description: manufactures glasses-free mixed reality solutions
Funding rounds:
- $2.7m pre-seed in June led by FOV Ventures and Maki.vc
- €10m seed in September led by Google Ventures
Follow-on investors: Maki.vc, FOV Ventures
7\ HEPHAISTOS-Pharma
HQ: Orsay, France
Description: Cancer treatments
Funding rounds:
- €2m seed in January
- €4.5m seed in May led by Elaia Partners
Follow-on investors: Xista Science Ventures, Noshaq, Foundation Fournier-Majoie
8\ forward earth
HQ: Berlin, Germany
Description: carbon management platform
Funding rounds:
- €1.2m grant in June
- €2m pre-seed in June led by Speedinvest
- €4.5m seed in October led by Mosaic Ventures
Follow-on investors: Speedinvest, Revent Capital
9\ Firsty
HQ: Amsterdam, Netherlands
Description: Mobile data packages for travellers
Funding rounds:
- €1.1m pre-seed in January
- €5.1m seed in November led by Dutch Founders Fund and Marcel Smits
Follow-on investors: Marcel Smits (Cargill executive)
10\ Gendo
HQ: London, UK
Description: GenAI platform for architecture and design
Funding rounds:
- $1.1m pre-seed in March
- £4.3m seed in November led by PT1 and LEA Partners
Follow-on investors: Concept Ventures
11\ SportAI
HQ: Oslo, Norway
Description: AI coaching and analysis tool
Funding rounds:
- €690k pre-seed in January
- $1.8m seed in August led by Skyfall Ventures
Read the orginal article: https://sifted.eu/articles/european-startups-multiple-fundraise-2024/
