Sifted - Biggest rounds of 2024 

Good morning there,

Welcome to the last Sifted Daily newsletter of 2024, in which we look back on the biggest rounds of the year — and hear about the first (but perhaps not the last?) member of Europe's tech community joining the Trump government.

We’ll be back on January 2 with predictions for 2025 galore. 

Today: 

• Ex-a16z investor Sriram Krishnan given new role in Donald Trump’s government
• 360 Capital’s new €200m climate tech fund
• 10 fastest-growing consumer startups in Europe by revenue

— Amy Lewin, editor

The end of customer experience as we know it — what’s next?

Customer expectations have never been higher, while brand loyalty is at an all-time low. Overwhelmed customer service agents are feeling the strain. How can businesses resolve these challenges? Discover how GenAI is transforming customer experiences with a human touch.

🇺🇸Former Andreessen Horowitz partner Sriram Krishnan has been given a new role in Donald Trump’s government. 

• Krishnan will “work closely” with fellow VC and former PayPal executive David Sacks in the role of senior policy advisor for AI at the White House Office of Science and Technology Policy, according to Trump’s post on his social media site Truth Social. Krishnan wrote on X that he was “honored to be able to serve our country and ensure continued American leadership in AI”. 

🌳 French-Italian VC 360 Capital has closed a first €140m of a new climate tech fund, with plans to reach a final target of €200m in 2025.

• The new fund is at the intersection of deeptech and climate tech, and will back startups that focus on the energy transition, the circular economy and urban sustainability, with about half of the capital dedicated to hardware companies.
• LPs include Italian corporations A2A, a utility company and De Nora, a specialist in electrochemistry technologies, whose investments in the fund represent more than a third of the capital secured so far (€50m).

Stay two steps ahead of the European tech market

Need fast access to Europe’s most promising startups? Sifted Pro gives you unparalleled market intelligence and high-growth startup data, ensuring you spot the next rising star before your competitors.

🤑 The 20 largest equity and debt rounds in 2024.

🤩 How to do employee feedback surveys.

😎 The 10 fastest-growing consumer startups, by revenue, in Europe.

🌬️ A hairdryer for heavy industry and a virtual energy manager: Meet two startups helping industry to decarbonise. (Sponsored by New Energy Challenge)

Missing Sifted over the holidays? Have a listen to our most popular podcast episodes of the year: 

🎧 Index Ventures partner Martin Mignot on how (and where) Revolut might approach a listing

🎧 Hussein Kanji from Hoxton Ventures on how just much he made from investing in Deliveroo and Darktrace

🎧 Glovo's Oscar Pierre on the gig economy and building scaleups in Southern Europe

🎧 “We’ve made more money than we ever dreamed of”: RELEX Solutions’ Johanna Småros

Bratislava, Slovakia-based InoBat, an EV battery maker, raised €100m. Gotion High Tech led the round and was joined by investors including the Slovakian sovereign wealth fund, Lilium and Bromo Capital.

Espoo, Finland-based ICEYE, a microsatellite manufacturer and operator, raised a €62m extension made up of debt and equity from investors including olidium Oy, BlackRock and Seraphim.

Solna, Sweden-based Chromafora, a water treatment startup able to remove heavy metals from water, raised €22.5m in debt funding from the European Investment Bank.

Barcelona-based Submer, which offers immersion cooling technology for data centres, raised €20m in debt funding from Santander.

Milan-based Habacus, which offers services to students including loans, raised €5m. P101 led the round and was joined by investors including CDP Venture Capital.

London-based Arborea, which is developing multi-functional proteins using a new microalgae production system, raised €5m in funding. Indico Capital Partners led the round and was joined by Banco Português de Fomento.

If you’d like to submit a deal, get in touch. 

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How to find your product-market fit in 2025. Finding product-market fit goes beyond just solving a problem — it needs to resonate with the right customers in the right market. Join this virtual and free Sifted Talks on January 22 and uncover all you need to know about finding — and maintaining — PMF. RSVP.

How to get investors onboard. As a founder, creating the perfect go-to-market strategy is a top priority. But what exactly are investors looking for? Join this virtual and free Sifted Talks on January 29 to find out. RSVP.