Tag Archive: investment

  1. Project Europe launches to support young entrepreneurs

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    Source: Silicon Canals

    Project Europe has been established as an independent initiative to foster innovation and entrepreneurship across Europe. Unlike traditional programmes, it operates without political affiliations or ideological ties.

    The initiative is designed to encourage young entrepreneurs to take risks and transform their ideas into viable businesses. According to its website, Project Europe aims to develop into an independent organisation that supports grassroots entrepreneurship, with contributions from founders and partners for future cohorts.

    A key objective is to help startups with European roots while allowing founders the flexibility to expand internationally. Whether they establish remote-first companies or relocate their businesses, the initiative focuses on ensuring they build strong foundations before scaling globally.

    Backed by experienced founders

    Project Europe has received support from over 125 European founders who are committed to mentoring and investing in emerging entrepreneurs.

    The programme is open to individuals under 25 who are developing technology-driven solutions to complex challenges. There are no formal education or prior funding requirements, only a clear vision and a commitment to building in Europe.

    Each year, Project Europe selects 10-20 founders at the early idea stage and provides an initial investment of €200,000 in exchange for 6.66% equity if leading the round.

    Structured support system

    To assist participants in developing their businesses, Project Europe offers:

    • 1:1 Mentorship: Founders receive guidance from experienced partners.
    • Masterclass sessions: Sessions on sales, product development, and growth, led by industry experts.
    • Annual retreat: A gathering for each cohort to network and collaborate.
    • Access to 20VC media: Support for content, marketing, and distribution.
    • Guidance from European founders: Advice from established entrepreneurs backing the initiative.

    By providing financial support and structured mentorship, Project Europe seeks to help young innovators build successful ventures from the ground up.

  2. Who are the biggest mobility startup investors in Europe?

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    Source: Zag Daily

    Via ID and Dealroom.co. have published a new report on European Mobility startup investment called ‘State of European Mobility Startups 2023’, ranking EIT Urban Mobility, Bpifrance & the European Innovation Council as the three leading investors.

    The report looks at the European mobility startup fundraising environment against the backdrop of a globally declining venture capital market. It reveals that in 2023, European mobility startups secured funding of $9 billion, which was a 26% decrease from 2022.

    There is also positive news for the mobility sector, in that it is still listed as the third most funded industry in Europe. EIT Urban Mobility’s Director of Impact Ventures, Fredrik Hanell told Zag Daily that they had invested in over 100 startups in 1000 days.

    EIT Urban Mobility is an initiative formed by the European Institute of Innovation and Technology (EIT). EIT believes that there are various reasons for 2023’s decline in start-up funding, including market saturation, investors being more cautious after a brisk post-pandemic expansion, macroeconomic uncertainties, micromobility regulatory challenges, and a shift in consumer preferences may have also played a part in investor confidence declining.

    Even with numerous challenges, EIT will continue to push forward with its investment in the mobility sector.

    “Cities are looking for these solutions that bring a positive impact,” said Hanell. “By leveraging emerging technologies, forging strategic partnerships, and addressing evolving consumer needs, mobility startups can position themselves for success in an increasingly competitive landscape that goes beyond Europe. We believe this is where the landscape for mobility is going.”

    Mobility investment breakdown

    In 2023 E-mobility companies with a focus on EV batteries, EV charging and infrastructure shone brightly, with these start-up companies receiving the most funding, securing over 50% of total investment for the mobility sector.

    Hannell predicts that alternative mobility start-ups will have a surge in popularity this year.

    “Startups focusing on electric two-wheelers, e-motorcycles, and e-scooters are poised to attract attention as micromobility solutions continue to gain traction,” he said. “And following this logic, in 2024 I believe that initiatives aimed at extending battery life, especially of light vehicles, promoting battery swapping, and enhancing sustainability are likely to drive investment.”

    “Looking ahead, the future of mobility startups in Europe will likely be shaped by several key factors. The continued growth of electric vehicles, advancements in autonomous technology, and the rise of shared mobility services are expected to drive innovation and investment in the sector.”

  3. Insurance disrupter Laka secures further funding from Porsche Ventures, as part of a Series A extension, enabling German expansion.

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    LEVA-EU member Laka (www.laka.co), winner of the ‘Best Cycle Insurance Provider’ Award four years in a row, has secured additional funding from Porsche Ventures, the venture capital unit of Porsche AG. This brings its Series A, led by Autotech Ventures and followed by Ponooc, Dutch sustainable mobility investor with close ties to the world’s largest bike seller Pon, and ABN AMRO, to $13.5m. Laka will use the new capital and network opportunities to facilitate its European expansion.

    With no major European player for cycling and e-mobility insurance, Laka is uniquely placed and first-to-market with an insurance model that has customer interest built-in to the core. Laka will expand its product offering to e-scooters, e-mopeds, and, eventually, e-cars to better serve Europe-wide partnerships including manufacturers, retailers, and leasing businesses.

    About the investment, Patrick Huke, Head of Porsche Ventures, Europe & Israel said

    “The increasing digitization and variety of sustainable mobility offers leads to the need for an innovative and customer-centric offer in the field of digital insurance. With the investment in Laka, we are pleased to support a strong team that is addressing the global insurance market with a unique, highly adaptable, and digital business model, which focuses above all on the customer experience.”

    Laka will be exploring opportunities with the Porsche Ventures portfolio to build the backbone to support the e-mobility segment. Initially partnering with German cycling brand Cyklaer (www.cyklaer.de) to offer new and existing customers built in digital insurance products. Cyklaer will be joining Laka’s partners, which include the world’s largest sports retailer, Decathlon, iconic cycling brands Raleigh and Le Col, as well as Santander Consumer Finance and Monzo. The partnerships enable the brands to provide end-to-end digital experiences by immediately protecting their customers from theft and damage at the point of sale.

    Tobias Taupitz, CEO and co-founder of Laka says “2021 truly depicted an inflection point for Laka as we moved from a pure direct-to-consumer play towards retail and commercial partnerships.    

    e-mobility is redefining transport globally, and Laka has set out to build the backbone to support the e-mobility segment at a time when “Net Zero Emissions” has rightly become front of mind for consumers, businesses, and government policy. To support this shift towards a greener future, we have a bold vision to become the world’s largest e-mobility insurance partner.”

    Already insuring many of the UK’s leading last-mile delivery companies, such as Zapp and Urbit, Laka is also expanding to cover commercial fleets Europe-wide, where companies who are shifting their fleet to greener transport and e-mobility are underserved by traditional insurers.

    Porsche Ventures joined the existing investor list including Autotech Ventures, Ponooc, ABN AMRO Ventures, Creandum, LocalGlobe, 1818 Ventures, and Elkstone Partners. Notably, confidence in Laka was shown by global cycling industry leaders, with angel investment coming from Zwift CEO and co-founder, Eric Min, in January 2022.

  4. Podbike is crowdfunding

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    Podbike is now raising capital, and is offering followers the opportunity to join its quest.

    Podbike aims to redefine urban mobility with a 4 wheeled e-bike designed for life in the cities of tomorrow. With full weather protection and room for an adult and a child, this e-bike has been designed to be license free. It will allow a user to access bike roads to save time and money, while doing good for the environment and yourself. 

    In a statement by CTO and product developer, Per Hassel Sørensen, the company shared news of its crowdfunder:

    “I have some exciting news to share!

    We are launching a crowdfunding campaign to ignite the next stage of our journey.

    Being a feisty start-up is exhilarating, but growth requires cash. We have received funding to date, but, befitting our company’s founding principles, we also want to involve you, our grassroots supporters.

    Because YOU are the heart and soul of our brand!

    We are thankful that our concept of a human powered vehicle has been greeted so warmly by so many. Our community of customers is growing – we now have more than 32,000 like-minded people who are following us through emails, newsletters, and social media. 

    We feel fortunate to say that we now have 3,500 pre-orders!

    When I joined Podbike, I made a commitment to excel in three areas: Product, Environment, and People. I wanted to build vehicles that were functional, elegant, made to last, and have as little impact on the planet as possible.  If you would like to take part in the next stage of Podbike’s journey and invest in the company – YOUR company – please register your interest by going to our crowdfunding site below.”

    Interested investors are invited to register here.