The most important investments of Q3 2024

Helsing raises €450 million in Series C: AI defense company Helsing has completed its Series C funding round and raised €450 million. General Catalyst leads the round, with additional investors including Elad Gil, Accel, Saab, Lightspeed, Plural, and Greenoaks. The fresh capital will be used for product development and research. The particular focus is on capabilities to secure European sovereignty, with special attention to protecting NATO’s eastern flank. (Image: Helsing)

Egym raises €180 million and becomes a unicorn: Fitnesstech company Egym secures around €180 million in growth capital from L Catterton and Meritech Capital at a pre-money valuation of over €1 billion. L Catterton is a consumer goods growth fund and fitness investor. Meritech Capital is a Silicon Valley technology investor whose investments include Salesforce, Meta, and Snowflake. The focus of the fresh funding for Egym is on expanding the Wellpass corporate fitness network. Additionally, the development of further innovative digital solutions and products around health-oriented training will be advanced. (Image: Egym)

Series D funding for Catalym: Biotech startup Catalym successfully completes its Series D funding round of €138 million. The oversubscribed funding round was led by new investors Canaan Partners and Bioqube Ventures and accompanied by Forbion’s Growth Opportunities Fund, Omega Funds, and Gilde Healthcare. Existing investors Jeito Capital, Brandon Capital Partners, Novartis Venture Fund, and Vesalius Biocapital III also participated in the round. The fresh capital will finance the Phase 2b development of Visugromab for the treatment of various types of cancer.

Qwello secures €65 million: Munich-based e-mobility startup Qwello secures €65 million in funding. The funding follows the recently completed acquisition of Dutch charging station operator Park & Charge (PnC), which was completed in May. Abn Amro and Investec serve as investors in the current round. The financing comprises the refinancing of part of the purchase price for PnC, which can be invested in Qwello’s European expansion, as well as in further growth financing for PnC through an investment framework and a revolving credit facility. (Image: Qwello)

€63 million for Scirhom: Scirhom secures €63 million in an expanded Series A funding round. The round is led by Andera Partners, Kurma Partners, Hadean Ventures, MIG Capital, and Wellington Partners. Existing investors such as High-Tech Gründerfonds (HTGF) and PhiFund Ventures also participate. Bayern Kapital joins as a new investor. The new capital will advance and expand Scirhom’s innovative therapeutic strategy in the field of autoimmune diseases. According to the company, the first clinical study with SR-878, a highly specific monoclonal antibody against the target molecule iRhom2, is scheduled to begin in the second half of 2024. (Image: Scirhom)

Marvel Fusion receives around €60 million: New capital for laser-based fusion energy: Marvel Fusion raises more than €60 million in its Series B. Bayern Kapital, HV Capital, b2Venture, Tengelmann Ventures, Sprind, Deutsche Telekom, Earlybird Venture Capital, Athos, Primepulse, Plural Platform, and several European family offices participate in the round. With the fresh capital, Marvel Fusion plans to ramp up production capacities significantly. Additionally, a complete feasibility demonstration of the company’s technology is planned. (Image: Marvel Fusion)

Reverion raises €56 million: Munich-based cleantech startup Reverion secures €56 million in its Series A for the construction of its biogas plants. The oversubscribed round was led by Energy Impact Partners (EIP) together with Honda Xcelerator Ventures and the European Innovation Council Fund (EIC Fund). In addition, existing investors Extantia Capital, UVC Partners, Green Generation Fund, Doral Energy-Tech Ventures, and Possible Ventures also provided capital. With this funding boost, the startup can now move into series production. (Image: Reverion)

Planqc secures €50 million in Series A: Munich-based quantum computing startup Planqc has successfully completed its Series A funding round. The investment is led by European family office Catron Holding and the DeepTech & Climate Fund (DTCF). Additional financial support comes from Bayern Kapital, the Max Planck Foundation, and other private investors. Existing investors UVC Partners and Speedinvest also participate in the round. Additionally, there is a grant from the German Federal Ministry of Education and Research (BMBF). The new capital will primarily be used by the startup to build a quantum computing cloud service and develop quantum software for applications in industries such as chemistry, pharmaceuticals, climate technology, automotive, and finance. (Image: Planqc)

The most important investments of Q3 2024

Related Articles to Read Next

15 million for Defencetech Project Q

Sherpa scales AI platform with 2 million euros

Helsing closes billion-euro funding round

Just under 3 million euros for Finto

91 million euros total for Quantum Diamonds

€411 million: Proxima Fusion becomes Europe’s most valuable fusion company