Covilhã, Portugal-based UpHill, a care orchestration platform, announced that it has secured €7M in a Series A round of funding led by Explorer Investments, Redstone (and EnjoyVenture), Brighteye Ventures and MSM fund (Mustard Seed Maze).

Other investors, including Caixa Capital, SCR, S.A., and Luz Saúde, participated in the round. 

The company will use the funds to solidify its presence in the Iberian market and plan expansion in new locations, such as the UK and Spain. Additionally, it plans to double its team headcount by the end of the year. 

UpHill: Democratising access to healthcare

Eduardo Freire Rodrigues and Duarte Sequeira founded UpHill in 2015 with a mission to empower people to provide and receive the best care with care orchestration software. 

The Portuguese company is developing clinical pathways and decision support systems that automate care and follow best practices. 

Consequently, the company is working with healthcare providers and life sciences companies throughout Europe to reduce waste related to care variability and fragmentation, while increasing patient outcomes and revenue.

Currently, UpHill claims to serve the largest hospitals in Iberia – like ULS Sta Maria, Luz Saúde, ULS Coimbra, Institut Guttmann, and more.

“Uphill’s collaboration with frontline teams has led to the design, implementation, and delivery of novel care journeys for the most challenging conditions,” says Rodrigues. 

As per the company’s claims, each physician saves a day per month for chronic care. In surgical care, health teams doubled their capacity to manage post-surgical patients. For every €1 spent on Uphill, hospitals receive €5 back.

 Moreover, Uphill says it has managed to reduce ER admissions by 65 per cent in selected cases.

“We’ve come to understand that issues impacting healthcare institutions, such as growing demand and insufficient capacity, are often tied to lacking alternatives that enable individuals to avoid using these services for all and every reason,” says Eduardo Freire Rodrigues. 

As a result, the company launched Liber, a next-generation care model. 

According to the company, Liber addresses acute health issues quickly by enabling immediate interaction with doctors and enrolling members in disease prevention and health promotion programs. 

“From here across the globe, those in need have to wait years for surgeries, many months for appointments, and too many hours for acute care. This is unbearable. This is why UpHill exists, and this is why we are just getting started: our platform is the care orchestration software for the decades to come,” concludes Rodrigues.

Rotterdam-based PortXL, a maritime startup accelerator, announced on Monday, that it has signed a partnership agreement with MINDbase Rotterdam, one of the ‘hubs’ of the Dutch Ministry of Defence’s innovation organisation.

MINDbase was established in 2020 to promote military-focused innovations. Its activities take place at RDM Innovation Dock in Rotterdam, as well as locations in Eindhoven and Enschede.

MINDbase works under the umbrella of COMMIT, one of the six branches of the Dutch Ministry of Defence. COMMIT ensures that Dutch military personnel work with modern, robust, and safe materials and IT. 

To accomplish this, a significant part of COMMIT’s duties is the purchase and maintenance of material.

MINDbase Innovation Manager Major Rick Zagers explains, “The time when the Ministry of Defence was smarter than the market is not a given anymore; today’s commercial sector is most of the times more innovative, adaptive, and faster. Therefore, we as the Ministry of Defence have had to accelerate.”

PortXL: World port accelerator

Founded in 2015, PortXL is an ecosystem of startups, scale-ups, corporate partners, and mentors – all change-makers, creative thinkers, and problem solvers who work collaboratively to disrupt the status quo.

Since its inception, PortXL has facilitated the growth of more than 100 startup and scale-up companies. 

PortXL, in collaboration with its industry partners, has been focusing on the maritime, energy, logistics, and refinery sectors. Its partners include the Port of Rotterdam, Van Oord, Boskalis, Rotterdam City Council, Damen Shipyards, and GTT.

With this latest partner ‘acquisition’ of MINDbase, PortXL’s scope has broadened to now also encompass military applications.

“We are so proud to welcome MINDbase to the PortXL organisation; the military has always been a frontrunner when it comes to innovation,” says Christel Pullens, PortXL Managing Director. 

“We have been working together ‘under the radar’ in the past few months and this has been very exciting – not only for us but also for our other partners. The Ministry of Defence has similar challenges to our other partners, but they look at things from a different angle. Safety, of course, is key. But also, due to a shortage of personnel they are very interested in digitalisation and automation. Last but not least, increasing the sustainability of operations is unsurprisingly an important area of focus,” says Pullens. 

Barcelona-based Horizons Optical, a provider of medical software used in the manufacturing of premium spectacle lenses, announced that it has secured fresh funding from London’s Oakley Capital, a pan-European mid-market private equity investor.

Oakley Capital’s Origin Fund I will secure a majority stake in Horizons Optical, with CEO Santiago Soler maintaining a substantial share and continuing to lead the company.

Additionally, Oakley will acquire the shares previously held by Sherpa Capital, a private equity firm in the Iberian region, as part of the agreement.

“Creating value for the optical industry”

Founded in 2017, Horizons Optical develops proprietary and patented software. 

This technology is used by independent laboratories globally to produce customised ‘progressive’ lenses capable of correcting various eye conditions, such as short, mid, and far-sightedness, along with astigmatism, all within a single lens.

The company claims that the lenses crafted using its technology are positioned within the optical industry’s highest value-added segments, known for their qualities and optical performance.

In 2023 alone, 10 million lenses were manufactured using Horizons Optical’s technology. 

Moreover, Horizons Optical also offers opticians equipment capable of scanning consumers’ faces and measuring pertinent facial parameters, facilitating the production of customised lenses and frames.

The company boasts international diversification, with Europe and the US contributing about a third of revenues each, followed by APAC and South America.

Additionally, Horizons Optical is expanding the market by developing tools to assist opticians in serving more customers. Their latest innovation, the Mimesys virtual reality headset, allows optometrists to precisely measure customers’ eyes for tailored lens production.

Sherpa Capital’s impact on Horizons Optical

Sherpa Capital, a private equity firm in Iberia, focuses on medium-sized companies tackling strategic challenges, aiming for value creation through business improvement processes. The firm has over 10 years of experience and manages assets exceeding €350M.

Sherpa Capital invested in Horizons in 2017 via Fund II. The company aimed to meet market demand by enhancing value creation by empowering independent laboratories and providing solutions like virtual reality applications in the optical industry.

Under Sherpa Capital’s investment, Horizons claims to have witnessed significant growth, propelled by a management team. Their efforts facilitated the company’s expansion into markets like the US, Asia, and Latin America. 

Horizons Optical reports it has experienced exponential revenue growth in recent years, primarily due to prudent financial management and a dedication to quality.

Speaking about the latest deal, Alfredo Bru, co-founder of Sherpa Capital says, “This transaction reflects the result of working closely with the company, deeply understanding the business, and identifying new opportunities within the sector to maximise the firm’s value. It’s impressive to see how Horizons Optical has grown in such a short time in the market.”

“We are very pleased and proud of all that the team led by Santiago Soler has achieved. We are sure that the future will be full of success and great opportunities for the firm. There is still a long way to go for it to become one of the most relevant players in the global optical R&D industry.”

How will Oakley support Horizons Optical?

Oakley’s investment in Horizons is its sixth deal in Spain, underscoring its commitment to Iberia as a key investment destination. Additionally, it marks the ninth investment for Origin I, bringing the Fund to 75 per cent invested.

With this investment, Oakley aims to propel Horizons’ international growth, positioning it as a premier choice for lens manufacturers and opticians seeking bespoke eyecare solutions. Oakley will also support Horizons with investments in R&D and Sales & Marketing.

Peter Dubens, Oakley’s co-founder and Managing Partner, says, “Horizons Optical has all the hallmarks of a typical Oakley deal: a disruptive market leader, with strong software IP and led by an exceptional management team.”

“We look forward to working with Santiago to help the business realise its full potential, taking advantage of strong market growth drivers as well as leveraging our expertise helping to scale software businesses including Grupo Primavera in Iberia.”

Horizons Optical CEO, Santiago Soler, adds, “Our focus on quality, innovation and exceptional customer care have driven Horizons’ strong performance to date. Oakley clearly shares our values and so we are delighted to be partnering with the Firm as we embark on the next stage of our expansion.”

“We have travelled this path of growth alongside a strong partner in Sherpa Capital, to whom we are grateful not only for their investment in Horizons and belief in our potential but also for providing the company with a spirit of continuous improvement and excellence.”

“We see enormous potential to further grow our international business, benefitting from Oakley’s expertise to expand our service offering and drive professional improvements across our business.”

The European climate tech looks promising for 2024 with the positive developments last year. Fueling this optimism is the growth of climate tech startups in the EU, driven by the need to solve climate problems such as sea-level rise and intensifying natural disasters.

The European Green Deal sets ambitious climate targets for the EU, striving for carbon neutrality by 2050. Other initiatives, such as the Fit for 55 package and REPowerEU project, aim to reduce greenhouse gas emissions and promote clean, affordable energy. 

Over €18.3B was raised last year by European climate tech startups, which is its second strongest year to date for VC investment. This proportion of global VC investment has significantly increased from 12 per cent in 2018 to 43 per cent in 2023.

The substantial funding for climate-related projects has made Europe a thriving hub for climate startups. Here, we list the most active investors that play an important role in the European Tech startup ecosystem. 

EIC Fund (Germany)

EIC Fund is the European Innovation Council (EIC) venture arm that funds companies selected under EIC Accelerator. EIC uses its budget worth €10 billion to strengthen Europe’s leadership in deep tech innovation. 

It addresses the funding gap for high-risk, market-creating potential deep-tech startups in Europe, providing patient capital to minimise risk for both private and public investors. EIC Fund supports startups in various sectors, including climate tech.

One of the EU startups that secured funding from the EIC Fund is Skytree, a carbon dioxide capture and utilisation solutions company. The Amsterdam-based startup was awarded €2.5M in funding through the EIC Accelerator last year.

Bpifrance (France) 

Bpifrance is a state bank in France that plays a huge role in powering the rise of French tech. Since its founding in 2012, Bpifrance has provided €17.3B in direct funding for French entrepreneurs. 

It offers financial backing, support for innovation, and assistance with international expansion to companies at various stages of development. The services provided include consulting, networking opportunities, and accelerator programs.

Bpifrance is one of the most active investors in clean-tech, smart cities and impact investing startups. Caeli Energie, a startup focusing on replacing polluting air conditioning with low-carbon technologies, secured an investment from Bpifrance in 2023. 

Antler (Singapore)

Antler is a Singapore-based early-stage investor and VC firm founded in 2017. Antler provided support for early-stage startups from all over the world, with a record of over 1,000 to date. 

It has also shown great support for entrepreneurs in the EU, with its Founder-in-Residence program across Berlin, Munich, and Amsterdam. The program aims to create a supportive startup ecosystem that can help entrepreneurs overcome various obstacles in business.

Antler has already invested in 17 European startups that focus on developing tech or products to address climate change issues in 2022. Evyon, an Oslo-based startup that develops EV batteries, received the largest funding worth €7M.  

Speedinvest (Austria)

Speedinvest is a venture capital fund based in Vienna with over €1B available to invest in pre-seed, seed, and early-stage technology startups throughout Europe.

Speedinvest concentrates its early-stage investments through six specialized vertical teams—deep tech, fintech, health and biotech, marketplaces and consumer, climate and industrial tech, and SaaS and infrastructure. 

It actively funds climate tech startups from circular economy marketplaces to sustainable fintech startups. Several climate tech startups that have received funding from Speedinest include Resourcify (a recycling startup) and Greyparrot (an AI waste recognition startup).

SFC Capital (United Kingdom)

SFC Capital is the UK’s most active early-stage investment firm, founded in 2012, that has made 400 investments for British startups. It operates as a Seed Enterprise Investment Scheme (SEIS) and EIS fund manager.

SFC Capital actively seeks and invests in promising startups across various industries, including climate tech. It was one of the most proactive funds in the UK’s CleanTech sector, with 22 GreenTech investments.

Earlier this year, SFC Capital invested in Furbnow, an all-encompassing home energy efficiency platform aiming to achieve net zero emission for every UK household. 

Green Angel Ventures (United Kingdom)

Green Angel Ventures is a UK-based venture capital firm focused on investing in environmentally sustainable and green technology companies. Until now, it has had a growing impact of £40M (€46.9M) capital deployed and 44 companies invested in it. 

It typically seeks out startups and businesses dedicated to developing solutions for environmental challenges, promoting sustainability, and addressing climate change concerns.

Its most recent investment was a follow-on for Power-Roll, a startup that develops solar film for solar panels. Green Angel Ventures raised £3.8M (€4.5M) for the company to accelerate the development of ultra-lightweight and low-cost solar film. 

High-Tech Gründerfonds (Germany)

High-Tech Gründerfonds is a venture capital firm that focuses on providing early-stage financing to innovative and technology-driven startups. The fund was established in 2005 and is based in Bonn and Berlin, Germany.

It has made more than 700 investments over the years, including several climate tech startups in areas such as energy, circular economy, batteries, and mobility. Cyclize, a Germany-based climate tech startup that develops a technology to defossilise the chemical industry, secured funding from High-Tech Gründerfonds last February. The startup will use the funds to expand its company and scale up its technology.

Switzerland’s Crosstown H2R, a climate tech startup that emerged from stealth mode, has announced funding and partnerships with Switzerland-based Sulzer and Finland’s Fortum.

This collaboration aims to facilitate the transformation of gas power plants into zero-carbon energy producers.

Crosstown has secured €2M in subsidies and grants from the Swiss Federal Office of Energy (SFOE) and other investors to advance its proprietary technology.

Decarbonising gas turbines

Founded in 2022 and based in Baden (Switzerland), Crosstown aims to accelerate the transition to sustainable energy with “disruptive” and transitional “hybrid” technologies. 

The technology targets eliminating CO2 emissions from gas turbines in Europe, extending their lifespans while operating with low or zero carbon. Crosstown’s strategy aims to reduce Europe’s reliance on fossil fuels and mitigate the impacts of global economic and political instability. 

The company claims to have developed the first Nitrogen Oxide (NOx)-compliant zero-carbon burner for gas turbines, offering power generation with carbon-free technology. 

This innovation addresses the environmental impact of NOx emissions while advancing sustainable energy solutions. NOx emissions are an indirect greenhouse gas contributing to ozone formation.

S. Manoj Harasgama, founder and co-CEO of Crosstown, says, “I strongly believe that we will only truly solve the global climate crisis by building new hardware approaches to reduce CO2 and other greenhouse gases.”

“We’re thrilled to join forces with such renowned clients and go-to-market partners to get this product to market faster and support our mission of creating a sustainable world today.”

Crosstown’s technology

The Crosstown Burner (H2R) achieves gas turbine decarbonisation and meets stringent international emissions standards, including ultra-low NOx requirements. 

As NOx regulations in Europe and the US take effect in 2025, many gas turbines and power plants will need to transition to compliant technologies.

Converting gas turbines to operate on hydrogen or other low-/zero-carbon fuels using Crosstown’s technology can eliminate the approximately 300,000 tons of CO2 emissions emitted annually by a single 100 MW gas turbine, even when operating at only 50 per cent capacity. 

The company’s technology is independently tested and proven. The latest generation of burners has passed TRL7 testing and will be installed in numerous turbines belonging to Sulzer and Fortum as part of collaborative efforts starting in 2024.

Partnership with Sulzer

Sulzer’s technologies enable carbon reduction, polymer development, recycling of plastic waste and textiles, and efficient power storage. Currently, the firm has 180 global manufacturing facilities and service centers.

Crosstown’s partnership with Sulzer accelerates the market entry of its zero-carbon burners. This collaboration unlocks access to over 3,500 gas turbines in Europe and tens of thousands more globally, facilitating a rapid response to pressing climate challenges.

Tim Schulten, Division President of Sulzer Services, says, “At Sulzer, we are committed to providing cutting-edge alternatives for gas turbine operators. Our collaboration with Crosstown underscores our dedication to pushing the boundaries of technology.” 

“By leading this development, we empower our customers to transition to zero carbon operations, without the need for complete and expensive engine replacements.”

Agreement with Fortum 

Fortum is a Nordic energy company that aims to power a sustainable world through clean energy production, and decarbonisation initiatives, and ensure reliable electricity and district heat supply in the region.

Fortum and Crosstown are joining forces to tackle greenhouse gas emissions in the power sector. Through this partnership, Fortum’s customers can utilise Crosstown’s Hydrogen Renewal (H2R) multi-fuel burner, aiming to halve greenhouse gas emissions by 2030.

Vesa Kylmälä, MD of Fortum TGS, says, “We have closely followed Crosstown’s progress over the last two years and know they have the only ultra-low NOx and zero-carbon capable burner. Therefore, we are excited to work with Crosstown and offer the best solutions to our customers.”

“With our landmark agreement, Fortum TGS intends to offer conversion options for all gas turbine asset operators in our market and customer portfolio.”

Amsterdam-based growth leaders Ferdinand Goetzen, Clément Dumont, and Joliene van Grieken, announced on Tuesday, March 12, that they have launched The Growth Syndicate to help B2B companies scale sustainably.

After selling Reveall last year, Ferdinand Goetzen has launched a new venture with Joliene van Grieken and Clement Dumont.

“We’re aspiring to create a “new kind” of business. An umbrella brand for marketing & growth activities that combines services, community, content and products,” says Goetzen.

The Growth Syndicate: Offering “Growth-as-a-service”

Through their “growth-as-a-service” offering, they plan to join companies on an interim basis to help them define and implement a clear and holistic growth strategy. 

The company does this in five steps:

• Analysis & Assessment
• Strategic alignment
• Prioritisation and scoping
• Implementation and experimentation
• Hiring and training.

After building a strong foundation, they commit to making themselves obsolete within nine months, helping companies find and train the right growth talent to take their plans forward.

The Amsterdam company offers various services to support the B2B brand’s growth and success.

It includes crafting effective brand strategies, implementing go-to-market plans to drive product-led growth, and refining your Ideal Customer Profile (ICP) and positioning. 

Further, the company also provides account-based marketing, demand, and lead generation, and market expansion strategies. 

Additionally, the Dutch company specialises in building growth teams and optimising operations, as well as providing insights and guidance on pricing strategy. 

“We’re not just another agency or consultancy. Our goal is to build the world’s leading growth brand and support B2B founders and professionals through services, content, community, and even products,” says Ferdinand Goetzen.

Through this initiative, the three founders are pooling a wealth of experience, having supported over 30 companies, from bootstrapped to series C, and having enabled several notable Dutch exits, including Recruitee, 3D Hubs, Impraise and Reveall.

Last week marked four years since the WHO declared COVID-19 a pandemic. While the pandemic brought the world to a standstill, it will also be seen as the year of digital reckoning for businesses globally.

While businesses had been on a digital transformation journey for some time, the pandemic forced them to fast track and it was especially true for large enterprises where consumer expectations were at an all time high. However, it wasn’t easy since many businesses on a digital transformation journey faced common challenges such as legacy system bottlenecks, data silos, talent and bandwidth shortages, limiting the time and resources needed for innovation projects.

One solution to overcome these challenges came in the form of hyper-composable technology, with the mission to drive businesses away from monolithic architectures allowing for greater flexibility and ease of deployment. Rierino (pronounced rye-ree-noe), a Turkish startup founded in 2020, was already working on this idea for e-commerce and digital transformation but the pandemic forced them to accelerate those efforts.

“This [pandemic] led us to accelerate our efforts and create a platform that empowers enterprises to navigate the complexities of digital commerce and transformation with ease,” says Mine Bayrak Ozmen, who co-founded the startup with Berkin Ozmen and Utku Sarioz.

The global digital transformation market size was estimated at over $880B in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 27.6 per cent from 2024 to 2030. Startups play a critical role in the digital transformation market and here’s how Rierino is helping European businesses.

A booming digital economy

While Europe is widely known for its booming digital and e-commerce business landscape, Ozmen calls it “blooming” primarily in terms of responsible and ethical innovation creating a thriving ecosystem with unique business models. According to Statista, the European market for e-commerce alone constitutes 540 million users.

Jan van der Veen, who joined Rierino in October last year as Head of Sales for the Benelux market, sees the market as dynamic and rapidly evolving with significant growth over the past decade. “The landscape is mature yet diverse, with a mix of multinational corporations, established retailers transitioning to online channels, as well as startups and SMEs,” he says.

For digital businesses in Europe, both Ozmen and Van der Veen see the current landscape as an opportunity to stand out and make a difference with their technology, especially by excelling at cross-border commerce. They argue that the market size and diversity paired with the robust digital infrastructure is the biggest strength of the European digital landscape while regulatory apparatus including data protection laws such as GDPR, consumer protection laws, VAT, and competition regulations can be challenging.

“There is a lot to navigate in terms of regulations as well as cross-border operational complexities,” says Ozmen. She adds, “I also think the methodical approach to innovation and continuous improvement is a true strength for the European market putting it at the forefront of technology advancements.”

While the sense of urgency for digital transformation has subsided post-pandemic, the momentum for digitalisation is still strong and Rierino sees many businesses continue to prioritise digital initiatives to further their competitive edge in this dynamic landscape.

Rapid adoption meets market expansion

Before starting Rierino, Ozmen held various in-house and consulting roles around strategy, marketing, and data science across EMEA in different industries. She also has a background in engineering and as CMO of Rierino, she advocates for human-centric design and inclusivity in technology. In four years, she says the biggest achievement of Rierino has been the rapid adoption of its solution across industries. “While our roots lie in e-commerce, we are thrilled that our platform is being used to build a variety of core business applications from community portals to passenger tracking,” she says with a smile.

Ozmen’s understanding of digital businesses is unlike others and she makes an astute observation about the business. She tells me that there is a need for a mind shift since Rierino is pushing the boundaries of low-code/no-code development into advanced backend use cases which has never been done before. “Because of this, we invest a lot of our time in conveying the unique capabilities and potential impact [to our customers],” she explains.

To further drive the adoption of its solution, Rierino raised $1.25M in seed funding from the Future Impact Fund in June last year. The funding was meant to fuel key areas of growth with primary investment happening in talent acquisition to expand its sales and marketing efforts.

Last year, Ozmen told Silicon Canals that they also wanted to use the funding to expand in Europe with Benelux as a key market. “There are a variety of reasons that make the Benelux market attractive as an entry point. In addition to its stable economy and high digital adoption, it is also very supportive of startups and innovation,” she explains.

For Rierino, Benelux is not only a strategic market that is at the heart of Europe, offering multi-country e-commerce operations at its core but also a market where they have ties from their previous experiences. They expanded in the Benelux market by hiring people with a strategic mindset aligning with Rierino’s culture and shared passion for innovation. One such talent is Van der Veen who brings over two decades of experience leading sales teams in various software companies. At Rierino, he is focusing on expanding its customer and partner base across solutions such as e-commerce, CMS, PIM, and other transformative technologies.

“We had crossed paths with Jan before and knew he would be a great fit for leading our sales efforts with his intimate knowledge of the market,” says Ozmen.

Challenges for European businesses

The dynamic nature of European e-commerce businesses is masking the cost-effective growth challenge. Van der Veen says scaling operations while managing overhead costs requires careful planning and strategic decision-making. Meeting evolving customer expectations is another key challenge with the competitive pressure of global players, Ozmen says, adding that European e-commerce businesses must differentiate themselves through “unique value propositions, innovative products, and exceptional customer experiences while balancing costs.”

“E-commerce businesses must invest in scalable infrastructure, efficient supply chain management, and targeted marketing strategies to drive sustainable growth without sacrificing profitability,” explains Van der Veen.

In addition to cost-effective growth, another challenge facing digital and e-commerce businesses in Europe and Benelux is software packaging. Many companies currently rely on a variety of specialised solutions to manage different aspects of their business and it becomes difficult to integrate these disparate systems cohesively and efficiently. “Larger enterprises especially face complexities associated with legacy systems and organisational silos. It makes maintaining such a diverse ecosystem more difficult, and data security and compliance all the more complex. We believe technologies need to be less of a black box and be more adaptive,” says Van der Veen.

Ozmen cites a Gartner study where 61 per cent of business buyers regretted their software purchase within 12 to 18 months due to hidden costs and compatibility issues. “Each new technology typically has its proprietary formats, protocols, and interfaces, making it difficult to achieve seamless communication and data exchange between systems. This lack of interoperability can result in inefficiencies, errors, and duplicated efforts, undermining the intended benefits of adopting best-of-breed solutions,” elaborates Ozmen.

With Rierino, they are on a mission to not only help businesses on a digital transformation to use low-code/no-code solutions but also put an end to the use of fragmented solutions.

Plays well with any technology

What’s the solution to this challenge? When I asked this question to Van der Veen, he was quick to point out that an ideal solution will play well with any technology. He adds that Rierino has built such a solution where its API-first architecture can seamlessly integrate with existing systems and third-party applications. He adds, “The low-code/no-code interface also transforms extensive coding requirements into basic configurations allowing teams to do more with less.”

Ozmen argues that businesses should not only look for cost-effective development but also see whether their chosen platform allows them to take the reins flexibly adapting to any new internal or external requirement. “Any customization, whether it’s for regulatory compliance or workflow optimization, can be easily configured through the intuitive admin interface,” she quips.

At the core of Rierino is a low-code microservice development solution that allows organisations to build anything, including sophisticated backend applications. This build-anything platform also gives access to high-impact commerce modules such as PIM, CMS, Personalizer, and Cart Manager, which can be combined to create a “complete headless e-commerce platform.”

In addition to those benefits, Rierino also provides pre-built integrations to Twilio, Cloudinary, SAP ERP, Microsoft Dynamics, Square, Adyen, and Stripe among others to support the transition. Rierino is also cloud-agnostic, meaning businesses can choose from a variety of cloud providers, including AWS, Microsoft Azure, Google Cloud, or even private cloud options. Ozmen calls this a popular feature among their clients since this approach allows Rierino to fully accommodate data privacy and sovereignty restrictions as well as budgetary considerations.

In comparison to traditional vendors helping e-commerce businesses in Europe, Rierino is different since it is both a business user and developer-friendly platform. “Through our mission-specific access profiles, business users can be masters of their domain and directly contribute to technology,” elaborates Van der Veen.

To help digital businesses, Ozmen says they are leveraging AI technologies to empower businesses in unlocking new levels of efficiency, creativity, and effectiveness. Rierino users can integrate real-time AI and ML into any customer interaction or workflow and benefit from its built-in MLOps feature to instantly deploy their own models or leverage self-service BI capabilities. The startup has also integrated generative AI (GenAI) to elevate user experience in three different ways. The first is providing content creation and management support to generate concise summaries and automatically translate and localise content for global audiences. The second is the GenAI-powered knowledge hub, which facilitates self-paced learning as an alternative to their 400+ pages of GitBook documentation.

The final implementation is “chat-code”, a government-backed R&D project that aims to position low-code as a universal intermediary between GenAI and software development.

Value for clients

Van der Veen says all of their efforts with product development and talent acquisition have come with the core goal of driving tangible value for clients. He says they have been successfully able to grow their network of trusted partners actively promoting and implementing Rierino’s solutions in the Benelux. “We have strategically engaged with a range of partners, including system integrators, consulting firms, and digital agencies that are a strong match to our technology vision,” he says.

These partnerships have now led to Rierino working with a diverse range of businesses across industries, helping them leverage its technology to achieve their e-commerce and digital transformation goals. He cites the example of one leading home and kitchen goods retailer with multiple brands and operations across more than 40 countries being able to improve their time-to-market for new products using centralised product and content orchestration.

All this transformation has come with greater attention to compliance and data privacy. Van der Veen tells me that businesses can deploy Rierino practically anywhere and be flexible with public/private cloud, client’s own Kubernetes cluster, on-premise or even bare metal deployments and be assured that data will never leave the EU or even the company’s own data centres.

Ozmen says they further strengthen data privacy by allowing businesses the freedom to authenticate and secure “their way.” “In addition to the robust security and authentication features we provide, our clients have the option to bring on board any IAM solution of their choice and have full control over network and application-level security configurations from day one,” she adds.

The real value for clients comes from Rierino’s focus on further enhancing its product offerings by incorporating feedback from existing customers and partners. Rierino is solving today’s challenges for e-commerce and digital businesses while also building solutions for the unique challenges and opportunities that will arise in the region in the future.

Germany-based acto, a company that offers active decision intelligence for B2B sales teams, has secured €3.7M in a seed round of funding. 

The investment was led by 468 Capital and Cusp Capital, along with ongoing support from adesso ventures. The round also saw participation from another.vc and business angels such as Benedikt Franke (Planetly) and Niklas Hellemann (SoSafe).

Bardo Droege, investor at 468 Capital, says, “acto’s ability to sift through the noise and deliver precise, actionable decision suggestions is not just enhancing sales efficiency, but also has the potential to augment any function in an organisation, such as logistics or procurement.”

“It is therefore well positioned to completely change the way companies leverage data – connecting data silos and substantially driving tangible business outcomes, and eliminating the guesswork by empowering decision makers to actively decide.” 

Droege adds, “We are confident that acto’s unique approach has the potential to set the gold standard in high-stake and high-volume decision augmentation.”

Helping businesses boost revenue and save time

Founded in 2021 by Pascal Salmen and Andre Stollhans, acto helps B2B sales teams manage complex data efficiently. Drawing from their CRM and ERP expertise, the founders tackle the challenges of data overload and decentralisation.

acto claims that its platform optimises B2B sales data management, merging CRM and ERP expertise to streamline processes. 

It boosts sales efficiency with decision intelligence integration, automating tasks, identifying cross-selling opportunities, and integrating with ERP systems. 

acto’s platform empowers sales teams in wholesale, logistics, and consumables sectors.

Capital utilisation

The proceeds will fuel the acto’s mission to enhance data utilisation for B2B firms and tackle data silo challenges. The funds will propel the company’s expansion and fuel product development, customer acquisition, as well as team expansion.

Furthermore, acto is developing technology to enrich customer data with insights from the open web. This advancement enhances the company’s scoring model and insight prioritisation by incorporating external data sources.

acto, with clients like Rhenus Logistics and Schäfer Shop, currently targets sales teams but plans to expand its product offerings to assist business teams in areas like procurement and logistics.

Co-founder Salmen, says, “In a rapidly evolving market, B2B sales teams are drowning in a sea of data and customer information from BI dashboards, KPI cards, and spreadsheets, struggling to surface the critical insights on customer behaviour and leverage the vast amounts of data at their fingertips.”

“Our partnership with leading investors 468 Capital and Cusp Capital enables us to accelerate our mission to transform data interaction within B2B sales, making every decision impactful.”

Brief about the investors

468 Capital is a tech investment firm founded in 2020, supporting global-minded entrepreneurs. With bases in Berlin and San Francisco, they back “category-defining” businesses and provide strategic and financial aid for international growth. 

The firm claims to be the first institutional investor in Aleph Alpha, which recently raised $500M.

Cusp Capital is a VC firm specialising in European software and technology. It targets early-stage companies poised to redefine their industries through new socioeconomic and technological paradigms.

The firm has invested over €600M in companies like Zalando, Delivery Hero, Klarna, Scalable Capital, data Artisans, Personio, and SoSafe over the last 15 years.

Amsterdam-based 819 Capital Partners (819), an investment firm, has announced the acquisition of Direct Diagnostics from Sanquin Health Solutions (SHS).

The deal also includes additional growth funding from 819, a firm specialising in venture capital, private equity, and corporate finance. The amount, however, remains undisclosed.

Direct Diagnostics plans to utilise the growth investment to expand its operations, targeting both domestic and international B2C and B2B markets. The investment is facilitated through 819’s Evergreen Fund I.

Rogier van den Braak, MD of SHS, explains that SHS is selling the company to enable further growth. “For SHS, the sale of Direct Diagnostics is logical because the company was ready for the next step. With its entrepreneurship and experience, 819 can realise further expansion.”

What does Direct Diagnostics offer?

Founded in 2022 in Amsterdam, Direct Diagnostics offers personalised healthcare solutions and actionable recommendations. 

The company’s mission is to empower individuals to make informed decisions about their health, enhancing their quality of life through preventive diagnostic tests. By shifting focus from disease control to prevention, the company aims to transform the healthcare system.

Elsemieke Hackenitz, CEO of Direct Diagnostics, says, “I am proud of the team and look forward to the growth and development Direct Diagnostics will undergo in the coming period.”

Direct Diagnostics originated from Sanquin’s innovation department. Sanquin, a knowledge-driven not-for-profit organisation, is responsible for supplying blood in the Netherlands, engaging in blood product collection, processing, issuance, and research. 

“We would like to make this knowledge and expertise about (blood)diagnostics accessible not only to patients, but to everyone,” says the company.

Direct Diagnostics collaborates with partners like Sanquin Diagnostiek, Sanquin Research, and Medical Laboratories Dr. Stein & Collegae to ensure reliable results.

Aim of the acquisition

With the deal, 819 Capital Partners enters the market of home diagnostics, driven by increased demand and limited healthcare access. 819 mentions that Direct Diagnostics stands out for its diverse tests, reliability, and user-friendly approach.

Sven Kempers, managing partner at 819, says, “Direct Diagnostics brings a lot of value to customers, including through the product design and usability. Additionally, the product is developed under Sanquin’s high-quality standards, ensuring high reliability in test results.”

“With us, Direct Diagnostics enters a new phase, including internationalisation,” adds Kempers.

Direct Diagnostics aims to improve healthcare accessibility in the face of a shortage of general practitioners. 

With a wide range of tests, the company enables self-examination, prioritising patients with abnormal values for timely GP appointments and targeted follow-up investigations, offering a “win-win” solution for the healthcare system.

Paris-based Kolet, a sustainable eSIM provider, announced on Thursday that it has closed a €5M in a seed funding round with European investment funds daphni and 9900 Capital.

The French company will use the funds to bring affordable Internet access to travellers worldwide in over 180 countries.

Kolet: Sustainable eSIM provider

Founded at the beginning of 2024 in Paris by four entrepreneurs, Eduardo Ronzano, Anne-Carole Cöen, Jérémy Gotteland, and Mehdi Chraibi, Kolet has set out to build a new telecom operator that is responsible, transparent, and accessible. 

The startup aims to address the high costs of accessing the Internet while travelling abroad and the abusive practices of existing telecom players in the industry. 

The company does this by designing a dedicated service for the travel industry, available in over 130 countries — a single free eSIM with 1 GB of data.

“Our mission at Kolet is to help travellers stay connected anywhere in the world. We aim to provide the best possible user experience, whether in terms of installation, use, security, or pricing. And this service should be provided by every travel industry player, in particular airlines, to their clients”, explains Anne-Carole Cöen, Kolet’s co-founder and CMO.

The founding team has teamed with a board of experts from the telecom and tourism industries to create its value proposition. 

It includes Philippe Chérèque, who previously worked with Amex GBT and Amadeus, Shane O’Flaherty, the Global Director of Travel and Hospitality at Microsoft, and Mauricio Prieto, the co-founder of eDreams.

Kolet’s first partners are 

• Resaneo, the travel agency, specialising in transport bookings (flights and trains)
• Ulysse, the air ticket booking site

Kolet can offer access to a high-performance network (4G or 5G) at a very competitive price (starting at 3.99€ for 1GB in Europe, with a 30-day validity period).

“There is a tremendous opportunity here for travel companies to enrich their service offering, build customer loyalty, and increase their revenues. Our ambition is to become the key partner for the top travel companies in a rapidly expanding market. With this 1st round of financing and thanks to the support of our advisors, Kolet is starting its development on the French and international markets.”, explains Eduardo Ronzano, CEO of Kolet.

The investor

9900 Capital is a multi-stage fund managed by former investors at the Bill and Melinda Gates Foundation and the London-based investment firm Hedosophia. 

9900’s mission is to back extraordinary founders tackling “big problems” across a range of sectors globally.

“Kolet’s vision to disrupt an oligopolistic telco industry resonates strongly with our investment philosophy at 9900 Capital of solving ‘big problems’ and absurdities that impact global consumers. Their dedicated team, innovative eSIM technology, and commitment to ending outrageous roaming charges make Kolet an important investment for us. We believe in their potential to reshape the travel experience and are excited to be part of their journey” says Chris Corbishley, co-founder and Managing Partner of 9900 Capital.