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Gen AI isn’t the only sector having a moment. We think spacetech is looking pretty spicy too. 

Today, French satellite propulsion system startup Exotrail is announcing a $58m Series B. Last week, German reusable rocket maker The Exploration Company announced a record €40m Series A. In January, Swiss space debris removal startup ClearSpace raised a €26.7m Series A. 

Those aren’t insignificant rounds for companies working on complex hardware, at a time when investors are obsessed with profitability and funding heading into Series A and B startups continues to drop.

Perhaps it’s the Musk effect, as spacetech is now no longer just the reserve of defence ministries.

Commercial satellites are being used for everything from climate change monitoring and assessing the energy efficiency of buildings to providing high-speed internet for self-driving cars. Europe has numerous VC firms focused just on spacetech, and huge European corporates — like Airbus and BMW — are paying close attention.

The intergovernmental European Space Agency, meanwhile, has the afterburners on, committing nearly €17bn to various space missions over the next three years. The continent has a gap to close: the US and China invest considerably more in their space agencies, and the VC money available to American spacetech dwarfs what European startups can get their hands on.

Innovative technology designed for space is also often pretty useful planetside. In the words of Welsh spacetech startup Space Forge: “The next industrial revolution isn’t on Earth.” 

For more on what’s going on in a galaxy not at all far away, read our in-depth report on European spacetech.

— Amy Lewin

You don’t have to be a chef to achieve something delicious every day. Food startup HelloFresh has open roles across programming, procurement and more.

📸 Can BeReal build on its buzz in 2023? The Paris-based app became a global sensation in 2022. But downloads are slowing, and it still doesn’t have a way to make money. So what’s next?

🇬🇧 The UK's new Science, Innovation and Technology department. The country's government has announced the details of a new tech-focused department, which seems to have gone down well with startups. 

🌍 Berlin-based Planet A closes its first fund. The VC has raised €160m — which will be used to back scientifically assessed climate startups across Europe and Israel — from an intriguing roster of LPs, including BMW, the Danish pension fund and the founders of HelloFresh and Zalando.

👩‍💻 86% of EU professionals plan to switch jobs in the next 12 months. The Great Resignation is far from over: here's where and why employees are leaving. 

🌳 How to stop the ESG backlash from hitting climate tech. Using impact as a marketing tactic can harm the image of an industry — here's how to keep it from affecting the sustainability sector. 

🇬🇷 Athens-based farming marketplace Wikifarmer raises €5m. It's the first Greek deal for Point Nine, the Berlin-based VC that led the round. Several notable angels also participated, including Sophia Bendz, the founders of Workable and Treatwell and Mathias Kamprad, the son of the founder of IKEA.

🏳️‍🌈 Three quarters of LGBTQ+ founders hide their identity from investors. A new report reveals the barriers facing the community in the startup space. 

🩸 Femtech startups to watch. From workplace fertility benefits to menopause support, investors share 14 companies they're watching in the space. 

📈 Where do you get the best stock options? The share of stock options offered to European scaleup employees has been on the rise recently — here's how different countries compare. 

🤔 Could venture builders be the key to building successful startups in a downturn? (Sponsored by Integrated Management Systems)

💰 Series B+

• Exotrail, which makes propulsion systems for satellites, has raised $58m of debt and equity in a Series B round led by Bpifrance.

• Byborre, which digitises fashion design and production to increase  sustainability in the textiles supply chain, raised a €16.9m Series B.

💰 Series A

• Finnish boat sharing and rental platform Skipperi has raised €7m.

• Build38, which provides security protection for mobile apps, has raised €13m.

• HowNow, a learning experience platform that helps companies onboard, upskill and support employees, has raised a $5m Series A from Mercia Asset Management and Pearson Ventures.

💰 Pre-seed + seed

• Vev, which gives budding entrepreneurs pre-made software and payments systems tailored to different business types, has raised €5m from Notion Capital and Point Nine Capital. 
• Politecnico di Milano spinout Approxima has raised €1.6m in seed money for its minimally invasive heart damage repair technology.
• German healthtech Memodio has secured €400k in seed funding to develop digital health applications for the treatment and prevention of dementia.
  

• Snab, a Spanish B2B payments and cash management startup, has raised €1.1m in a pre-seed funding round led by Y Combinator.

• Darksquare, which makes private asset investment classes accessible for retail investors, has raised £260k through crowdfunding platform Seedrs, supported by retail and angel investors. 

Plastic may be a miracle material — but it comes at a huge cost to the planet. So what are the sustainable alternatives? And who are the pioneers making them? Our upcoming report reveals the businesses turning their backs on plastic.

If you've got intel for a story you think needs to be told, let us know — confidentially. 

Sadia Nowshin

Editorial Assistant

Get in touch with her at

sadia@sifted.eu

She tweets from 

@sadianowshin_

Tom Nugent

Digital Editor

Get in touch with him at

tom@sifted.eu

He tweets from

@TJNugent92

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