Europe’s most active seed investment firms, Seedcamp, has raised $30 million in order to further scale operations. The early stage investment firm is now looking to expand further from its image of being a startup accelerator to a much bigger startup camp housing, and helping companies scale to a massive scale.
Seedcamp, based in the UK, has been working with startups from all over Europe. The startup accelerator has secured an initial amount of $28 million of the $30 million funding round in order to further expand its operations. The money will help Seedcamp to expand its operations and take its companies to the next level.
Around half of the raised funds will come from the European Investment Fund which is a part of the European Investment Bank. The rest of the money would come from a number of professional investments funds comprising of Index Ventures, WhiteStar Capital, Caiza Capital, Connect Ventures, and other individual angel investors including Skyscanner’s Barry Smith, Teleport’s CEO Sten Tamkivi amongst others.
Seedcamp has labelled its third round of funding as “Seedcamp 2.0”. It plans to support more than 100 startups over the next 4 years. That’s approximately the total number of startups that Seedcamp has already backed so far. Seedcamp now comprises of a huge network of mentors, entrepreneurs, angels, and investors across Asia, US, and Europe. It is continuously expanding its network in Asia and US currently.
According to a statement released by Seedcamp, “In our experience, providing the first $75,000 investment and a three-month program to support the growth of a $10m business is not good enough anymore. Breakout success is all about scale and getting the $200,000, $2M, and $20M of investment that will help build a $1B business.”
It’s quite obvious how the European startup scene is growing stronger by the day. Silicon Valley may be housing some of the biggest names in technology, but European startups are slowly gathering a lot of momentum. It’ll be interesting to see more startups rising as mobile ecosystems further evolve.
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