Raise Retrospective – November 2021

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raise retrospective

Raise Retrospective – a monthly summary of the top venture deals featured by swiftraise

2017 founded, $15.0m raised, 25 – 50 employees, Germany-based

“With COP26 underway, SoftBank-backed greentech startup Plan A raises €8.6M”

What do they do?

Plan A builds science-based digital tools for automated carbon accounting, decarbonisation, ESG management, and reporting.

Their data processor allows for multiple analyses to make the most out of business intelligence, with a process that allows for maximum input and output flexibility, so customers can let Plan A do the work and just get the reports they need.

Why we’re interested

It’s hard to miss the focus on the environment at the moment, and investors are for sure speeding up their fundraising of GreenTech and ClimateTech.

This is a busy space, but they boast strong enterprise customers like Soc Gen and Vinci. Their solutions comply with the internationally recognised Corporate Standard of the Greenhouse Gas Protocol and are officially certified by TÜV Rheinland.

On the fundraising side, it’s another example of an accelerated round. Plan A closed their $3m Seed just 8 months ago, and although SoftBank Investment Advisers joined that round as a Strategic investor, you have to ask why there is not follow on money from them in the A round (although it’s possible there is, just unannounced)?

Congrats to the founders Lubomila Jordanova and Nathan Bonnisseau, as well as existing investors Demeter and coparion!

Read more from Silicon Canals (link to source)

2021 founded, £0.75m raised, 10 – 25 employees, UK-based,

“Monzo and Lendable founders invest in UK startup bringing e-learning to remote workers”

What do they do?

Goodcourse delivers short-form L&D content, paired with TikTok style explainer videos, directly to employees’ phones. They are enrolled by text message which means no apps to download or log-ins required.

Why we’re interested

We’ve seen a lot in the enterprise Learning & Development scene. But GoodCourse are solving a very specific, but highly relevant problem – traditional e-learning doesn’t work for the 2.7bn employees who don’t work at a computer.

GoodCourse’s mobile-first micro-learning platform was built specifically to change that.

The round was joined by some interesting angel investors too! Tom Blomfield, Lendable Co-founder Victoria van Lennep for example, so we are excited to see how the team grows and where they find their dominant markets for growth.

Congrats to founders Chris Mansfield and Omar Mughal!

Read more from UKTN (link to source)

2016 founded, $16.6m raised, 50 – 100 employees, UK-based,

“UK-based Virtuoso raises $13.3M Series A led by Paladin Capital to automate software testing”

What do they do?

Virtuoso does far more than old school QA. It assists teams at every stage in the development pipeline, enabling even non-technical users to automate their testing processes and build in quality from the get-go. Virtuoso reduces the need for manual interventions and inputs with a highly intuitive UI that’s both quick and easy to learn.

Why we’re interested

Enterprises now almost exclusively have shifted to CI/CD frameworks for software development. And many of the tools raising big rounds in the Dev Tool space help integrate tools, or serve to automate an aspect of this process – mainly security and code analysis (Snyk for example). But right at the end of the CI/CD process, is the testing phase, where the automation market is projected to grow from $12.6 billion in 2019 to $28.8 billion in 2024, according to Global Market Insights.

So Virtuoso’s market is strong, but so is there cap table. They have a strong list of well-known funds, previously raising their Seed rounds (yep, they did two) with Acequia Capital, Crane Venture Partners, Downing Ventures, and Forward Partners. Their Series A brought in heavyweights, Mubadala Capital Ventures (BetterUp, C2FO, Primer) and Paladin Capital Group (Bugcrowd, Panaseer, Risk Lens).

Congrats to founders Adil Mohammed and Andrew Doughty!

Read more from TechCrunch (link to source)

2017 founded, $3.4m raised, 2-10 employees, UK-based

“Dent Reality raises $3.4M to bring augmented reality into the grocery store”

What do they do?

Dent Reality‘s Augmented Reality platform enables every business to serve their customers on a 1-1 basis, with guidance and information to supercharge their experience.

In short, an app on your phone that will real-time guide you to things in a shop. For now it’s just Grocery stores, but retailers, malls, campuses, airports, hospitals and more are in the pipeline.

Why we’re interested

That means you can stand in a supermarket and get directed to something you need, product by product. So not just ‘Beers’, but specific brands and the exact spot they are. That might not sound super useful if you go to a small local shop and know it like the back of your hand, but for larger stores with more niche products, it’s a great way to boost shopper activation. The founder also readily admits that grocery isn’t their ideal market, but it’s a good stress test of the tech in a challenging environment.

We’d expect things like gamification and brand advertising could be making their way onto the app as well, with brands increasingly keen to look at new ways to engage shoppers, increase personalisation and encourage loyalty.

They’ve closed their $3.4m Seed round with leading PropTech investors Pi Labs, along with 7percent Ventures, Jovono and Sugar Capital.

Read more from TechCrunch (link to source)

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