Seed Weekly - European Funding Roughly Halved 😱

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Seed Weekly #36 -

Having written Seed Weekly for nearly a year, I've seen changes in deal volumes, round sizes and more. Since Covid, things have slowly ground towards a slow-down, and this weeks data is no exception.

Long-time readers will know, I typically post every Tuesday, but lately I have moved this to once a fortnight, given insufficient quantities of interesting deals to cover.

The total $ raised and # of deals covered in a 7 day period is now being seen over 14 days, so effectively halving the historical rate. Please note, this data is not concrete, and funds may also be refraining from announcing deals given environment.

All that said, there was a fair amount of activity across UK, France and India and rounds sizes at seed remaining relatively healthy.

This week's highlights:

Where the action happened:

Figures this week:

Funding rounds covered:

Countries covered:

Largest round:

Estimated funds raised:

~$39,000,000 (not all covered below)

Categories & countries:

Most rounds:

🇬🇧 United Kingdom

Largest Round:
🇬🇧 Sync $7,200,000

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🇬🇧 United Kingdom - $14.2m

sync. Logo

Raised: $7.2m (Seed)
Category: Fintech, Mobile Apps

Description: sync. provides a bank account aggregation and personal financial management service. Launched in London and expanding to Malaga Spain.
Investors: Unknown.
Location: London, United Kingdom.

Lick Home Logo

Lick Home
Raised: $4m (Seed)

Category: Consumer, E-Commerce

Description: Lick is an online home decor brand. Their online platform offers a range of durable and low-odour paints, artisan wallpaper, high quality decorating tools, and true-to-colour stick-on samples.
Investors: Felix Capital.
Location: London, United Kingdom.

Novoic Logo

Raised: $1.15m (Seed)
Category: AI, Biotech, Health Care

Description: Novoic is a digital biotech company that develops AI-based speech analysis. Through their in-house, cutting-edge AI algorithms, the team aims to decode complex speech alterations. ‍
Investors: Plug and Play, Entrepreneur First, APEX Ventures, Standford Angels and others.
Location: London, United Kingdom.

Weezy Logo

Raised: $1.3m (Seed)
Category: Food Delivery, Apps

Description: Weezy is an online supermarket platform designed for on-demand grocery shopping. The application enables users to discover their favourite groceries, snacks, drinks, home essentials and OTC pharmaceuticals in one tap away. Users can easily browse the aisles from their home or office.
Investors: Heartcore Capital.
Location: London, United Kingdom.

Spotta Logo

Raised: $1.17m (Seed)
Category: Hospitality

Description: Spotta is a provider of smart pest systems. Spotta commercialized Bed Pod, its first product which monitors bed bugs in hotels and other multi-room accommodation offerings.
Investors: Angel Co-Fund, Cambridge Angels, Romulus Capital and others.
Location: Cambridge, United Kingdom.

🇮🇳 India - $7.3m

Drink Prime Logo

Raised: $2.87m (Seed)
Category: Water, IoT, Subscription
Description: DrinkPrime makes smart water purifiers by combining the internet of things (IoT) and water purification technologies as it seeks to address the drinking water problem in urban India. The startup handles installation, relocation and maintenance of the purifiers for its customers. The customers have to pay the company for the amount of water they consume as per their subscription plans, according to its website.

Investors: Sequoia Surge and Omidyar Technology Ventures.

Location: Karnataka, India.

Wobot Intelligence Logo

Wobot Intelligence

Raised: $2.5m (Seed)
Category: AI, Computer Vision, SaaS, Machine Learning
Description: Wobot Intelligence helps businesses make sense of surveillance data by implementing a layer of Artificial Intelligence which makes the system capable of doing surveillance on behalf of the human eye.

Investors: Sequoia India.

Location: Delhi, India.

Bigspoon Logo

Raised: $2m (Seed)
Category: Food Delivery, Cloud Kitchens
Description: BigSpoon Foods is a multi-brand cloud kitchen startup that has an omnichannel approach to ordering and delivery.

Investors: Lemonade Stand, Urmin Group and others.

Location: Gujarat, India.

🇮🇱Israel - $5m Logo
Raised: $5m (Seed)
Category: B2B, SaaS
Description: Approve is a procurement automation platform that provides tools to automate purchasing workflows and vendor interactions.
Investors: Aleph and various angels.

Location: Tel Aviv, Israel.

🇦🇹Austria - $5m

ToolSense Logo

Raised: $5m (Seed)
Category: Construction, Analytics, AI
Description: ToolSense offers the necessary technology for this, which combines a comprehensive after-sales platform with smart sensors.
Investors: btov Partners, aws Gründerfonds and others.

Location: Vienna, Austria.

🇩🇪Germany - $3.2m

Segmentive.AI Logo

Segmentive AI
Raised: $2.3m (Seed)
Category: Software, Collaboration Tools
Description: Segmentive is an innovative real-time video segmentation technology for mobile devices that allows users to intelligently remove themselves from live backgrounds to be transported into a scene of their choice.
Investors: TGFS - Technologiegründerfonds Sachsen

Location: Berlin, Germany.

DGG Logo

Raised: $895k (Seed)
Category: Software, AI, SaaS, Compression
Description: DGG is a German deep tech SaaS company, creating RapidCompact - the world's leading platform for 3D data optimization.
Investors: Charlie Songhurst, 3VC and FTTF.

Location: Berlin, Germany.

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🇫🇷France - $3m

klassroom Logo

Raised: $3m (Seed)
Category: Edtech, Education, Web Apps
Description: Klassroom provides a platform for remote learning, video-conferencing, and homework management in an intuitive format for parents and educators.

Investors: BPI France, Kima Ventures and multiple angels.

Location: Paris, France.

🇮🇪Ireland - $1.7m

Volograms Logo

Raised: $1.7m (Seed)
Category: 3D Video, Augmented Reality, Volumetric Video
Description: Volograms is a technology startup on a mission to bring reality capture closer to everyone. Their technology uses a set of videos taken from different viewpoints and transforms them into volumetric holograms, that can be enjoyed in Virtual and Augmented Reality.

Investors: Sure Valley Ventures.

Location: Dublin, Ireland.

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