Home Economy Greek startups: raised $138 million since the beginning of the year

Greek startups: raised $138 million since the beginning of the year

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Greek startups: raised $138 million since the beginning of the year

Attempts to “fend off” the pressure exerted around the world due to its growth inflationits collapse Bank of Silicon Valley and, as a result, reduced availability of funding for high-risk companies, which the Greek startup ecosystem seems to be doing. According to Greek Investment Capital Marathon Venture CapitalSince the beginning of the year, a third of last year’s transactions have taken place, while the total amount of funds raised by start-up companies with a presence in Hellas (headquarters or R&D center in the country) up to $138 million from 31 international and local investors in 20 funding rounds. There were a total of 65 related funding rounds in 2022 (for the entire year), and 61 in 2021. with or without a presence in the country) have raised $362 million from 52 venture capital funds in 34 rounds of funding since the beginning of the year.

Most of the funds come from two companies, according to the Greek fund: cybersecurity company Hack the Box, which has raised $55 million from U.S. private equity Carlyle, and flexible car leasing company Instacar, which has raised almost as much. amount (55 million euros) from Greek investors. Followed by €5 million for Wikifarmer, a Greek marketplace for buying and selling agricultural products, and further down the list are Bibe Coffee and Convert Group, which raised $2 million. the Greek startup market is quite small. “What is particularly encouraging, however, is that in an environment of uncertainty, banking turmoil and a rising cost of money, Greek tech companies are raising capital from domestic and international investors,” they report. Also optimistic are reports from Greek funds about the withdrawal of investments from companies they have financed in the past and which were acquired in the first months of 2023. Reason for startup Augmenta, a company that operates in the growing agricultural technology sector, was acquired by CNH Industrial for 110 million Augmenta was also funded by Marathon Venture Capital, which, after disinvestment, returned all the first investment capital (32 million euros) to the fund’s investors for the second time. In addition to Augmenta, energy consultancy Energy Aspects recently acquired OilX, which specializes in AI-assisted energy data analysis, while Marine Traffic, which developed and operates a widely used marine services and ship tracking application, was taken over by the market analysis and Kpler data. .

Author: Miss Conti

Source: Kathimerini

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