Involve, an Italy-based company specializing in stratospheric balloon technology, has successfully raised €2.5M in a seed funding round. This capital influx is aimed at accelerating the development of their innovative balloon technology for real-time Earth monitoring, telecommunications, and infrastructure applications. The funding round was led by Earlybird and supported by several prominent investors, including Takeoff and Unicredit. The company aims to achieve significant technical milestones and expand its team to enhance its technological capabilities.
Other technology companies have also recently secured funding to advance their innovations. For instance, REDUCED completed a €8M Series A round to expand its unique upcycled food ingredients. Similarly, Ventory raised €1.75M to accelerate the development of its inventory management software. Both companies highlight the diverse range of technological advancements being funded across Europe. However, unlike REDUCED and Ventory, which focus on food and inventory management, Involve’s stratospheric balloon technology aims to provide real-time data and improve telecommunications infrastructure.
Calyxia and Revolut Achieve Significant Milestones
Paris-based CleanTech company Calyxia has raised €31.5M to manufacture biodegradable microcapsules and microparticles for various sectors. Lombard Odier Investment Managers and Bpifrance led the Series B funding round, boosting Calyxia’s operational capabilities. The newly acquired funds are earmarked for expanding production and advancing partnerships in agriculture, consumer care, and advanced materials markets. Calyxia’s fully operational factory, established in 2023, positions the company for substantial growth in the coming years.
In contrast, financial app Revolut announced that its business-to-business (B2B) offering, Revolut Business, has exceeded €450M in annualized revenue. Revolut’s monthly transaction volume in the Netherlands has reached €660M. The company is also expanding globally, launching Revolut Business in Singapore and introducing Revolut BillPay to streamline invoice payments to suppliers. These developments signify Revolut’s robust growth and commitment to enhancing its business banking services worldwide.
Bizzdesign and E-Tuk Factory Push Frontiers
Bizzdesign has acquired Edifit, a provider of enterprise architecture software, as part of its international expansion strategy. This acquisition, supported by strategic software investor Main Capital Partners, aims to enhance Bizzdesign’s consulting capabilities and software suite. The integration of Edifit’s technology will improve content management and publishing controls, thereby accelerating value delivery for Bizzdesign’s customers.
Meanwhile, E-Tuk Factory has introduced an advanced Vehicle Intelligence System for its fully electric tuk-tuks, operational since 2019. The system provides detailed insights into various operational parameters like transported weight, charging curves, and driver behavior. These data-driven insights are designed to enhance operational efficiency and minimize maintenance, providing a preventive approach to extend the lifespan of the e-tuks. With its black box technology, E-Tuk Factory continues to innovate in the realm of sustainable and smart transport solutions.
Involve’s recent funding success highlights the growing interest and investment in cutting-edge technologies aimed at solving critical global challenges. The stratospheric balloon technology being developed by Involve promises to offer enhanced real-time Earth monitoring and telecommunications capabilities. The company’s focus on optimizing control systems through artificial intelligence and expanding payload capacity can set new benchmarks in the industry. As Involve grows its team and refines its technology, it stands to make significant contributions to both space and terrestrial applications, catering to a wide array of sectors that require reliable data and communication solutions.
