APEX Ventures October Newsletter | Connecting and Inspiring
The latest funding rounds, product launches, and industry news from APEX Ventures' portfolio companies and beyond.
September brought exciting funding rounds, product launches, and industry recognition across various sectors. 🏆
At the Bits & Pretzels festival in Germany 🇩🇪, we connected with industry leaders, and our team hosted a booth in the Investor Lounge, where we met numerous inspiring entrepreneurs and investors driving innovation forward. Simultaneously, at the Nordic Life Science Days in Sweden 🇸🇪, we discussed attracting international investment to the Nordics, emphasizing the region's scientific excellence and the importance of a strong international strategy for early-stage companies.
Our portfolio companies achieved remarkable milestones across various sectors this month: in healthcare, CardiaTec secured $6.5 million in seed funding to advance their AI-powered tools for understanding cardiovascular disease, and Mindpeak raised €15.3 million to develop their AI-driven cancer diagnostic solutions further. In the APEX One portfolio, TriLite raised €20 million in a Series A extension to mass-produce their innovative AR display technology, and VividQ closed a $7.5 million funding round to develop their holographic display technology.
We are proud of the continued growth and recognition within our portfolio. OroraTech expanded its international presence with commitments in Greece and was highlighted by the European Space Agency. planqc celebrated the grand opening of its new building with a visit from Bavarian Prime Minister Markus Söder.
Read on to learn more about these achievements and many more!👇
Meet the APEX Ventures team at the following events in the upcoming months:
▶️ Hightech Venture Days / 8-9 October / Dresden, Germany / Andreas Riegler, Wolfgang Neubert, Ion Hauer
▶️ EIC Scaling Club Scale 100 Forum / 21-22 October / Athens, Greece / Ion Hauer, Tim Hos
▶️ Stage Two Side Event / 30 October/ Berlin, Germany / Ion Hauer. APEX Ventures will co-host a Stage Two Side Event together with hubraum, Deutsche Telekom’s accelerator, on 30 October in Berlin. Find more information and register here.
Here’s what the APEX Ventures team has been up to in September:
TechBBQ
Reliving TechBBQ! General Partner Andreas Riegler and Principal Ion Hauer attended the event this year, and they were blown away by the vibrant startup scene in Copenhagen, especially the impressive deep tech innovations. They had the pleasure of reconnecting with Kurt Stokbro, Hitesh Kumar Sahoo, and other talented entrepreneurs. The Nordics continue to be a key focus for APEX Ventures, so we look forward to returning to TechBBQ next year!
Ion Hauer and Andreas Riegler at TechBBQ
Nordic Life Science Days 2024
Diana Röttger, Principal at APEX Ventures, joined a panel discussion on attracting international investment to the Nordics at Nordic Life Science Days in Sweden. The panel explored trends in international investment over the past decade and discussed the unique strengths and characteristics of the Nordic life science ecosystem.
The panel discussion also featured insights from other industry experts, including Laurence Govaerts from EQT Life Science, Dr. Jonathan Gertler from Back Bay Life Sciences Advisors, and Jacob Michelewicz from Anocca. The panelists discussed emerging trends in international investment, the increasing interest in Nordic life science startups, and the factors that attract global investors to the region.
Diana emphasized the importance of highlighting the region's long-standing tradition of scientific excellence and the supportive ecosystem surrounding it. She also discussed how APEX Ventures focuses on identifying companies with the potential for significant growth and impact rather than chasing the "next big thing."
Diana highlighted the importance of a strong international focus and strategy for early-stage companies seeking investment. She emphasizes the need for a clear plan to expand beyond domestic markets and navigate regulatory environments. Additionally, Diana stresses the value of learning from experienced international founders and leveraging the support of networks like APEX Founders Day and the Deep Tech Collective.
Venture Capital & Deep Tech Networking Event
Andreas Riegler also attended the Venture Capital & Deep Tech networking event on September 24, 2024, in Amsterdam, hosted by prominent industry players, including FORWARD.one, Graduate Entrepreneur, imec.xpand, Innovation Industries, Invest-NL, and Positron Ventures. The event provided a vibrant setting for deep tech investors to connect, exchange insights, and explore future opportunities in the Netherlands and beyond. Andreas took this opportunity to reconnect with fellow Dutch deep tech investors such as Coalition Capital, Value Creation Capital, Forward One, curiosity VC, Keen Venture Partners, and others while engaging with key team members from the host organizations. This informal yet productive gathering facilitated discussions around investment strategies and collaborative potential, paving the way for future dialogues and investment activities in the Netherlands.
Bits & Pretzels 2024
What an incredible week we had at Bits & Pretzels in Germany this year! From inspiring conversations with industry leaders like Wesley Chan, Christian Lindner, and Anjney Midha to witnessing exciting startup pitches, we had the privilege of connecting with countless talented individuals who are driving innovation forward. Portfolio companies sewts, OroraTech, and planqc also joined the even, and we sponsored a booth for our portfolio company OKAPI:Orbits.
Andreas Riegler, Wolfgang Neubert, and Ion Hauer hosted a booth in the Investor Lounge and had the pleasure of meeting many inspiring entrepreneurs and investors. A huge thank you to everyone who stopped by to share insights and stories!
European Commission round table on capital markets
APEX Ventures General Partner Stefan Haubner participated in the European Commission Roundtable on Investment Funds in September. He joined a panel discussion on the topic of scaling up investment funds within the EU. Alongside distinguished panellists like Rebecca Versteeg Morales from KKR, Markus Pimpl from Partnersgroup, Adam Niewinski from OTB Ventures and Hugo WEBER from Mirakl, he explored the challenges and opportunities facing the region's venture capital market.
Key discussion points included the barriers to scaling up funds, the importance of market integration, the role of public programs and institutional investors, and the strengths the EU can leverage.
Panel on capital markets at the European Commission
CardiaTec
CardiaTec raised $6.5M Seed to further develop AI-powered tools to understand cardiovascular disease using a massive human heart tissue dataset.
Palo Alto-based Montage Ventures led the round and was joined by investors including Continuum Health Ventures, Laidlaw Ventures and APEX Ventures.
This investment will support its groundbreaking research into cardiovascular disease, using AI to analyze complex human tissue data. The company has established a network of 65 hospitals to collect data and is building the largest human heart tissue-multi-omics dataset. Congratulations to the CardiaTec team on this significant milestone!
Learn more from TechCrunch.
CardiaTec Co-founders (left to right): Prof Namshik Han (CTO), Thelma Zablocki (COO), and Raphael Peralta (CEO).
Mindpeak
Mindpeak raised $15.3M Series A to accelerate the use of AI to improve the speed and accuracy of pathology diagnosis for better cancer care.
The round was led by ZEISS Ventures and InnoVentureFund with participation from AI.FUND and the European Innovation Council Fund.
Its innovative tools are designed to address the growing workload and specialist shortage in cancer diagnosis. By leveraging AI and deep learning, Mindpeak automates tasks and assists pathologists in achieving faster, more reliable cancer diagnoses. This funding will accelerate their development and empower healthcare professionals to deliver better patient outcomes. Congratulations on your success!
Silicon Canals covered in-depth.
TriLite
TriLite raised €20M Series A Extension to continue pioneering AR display technology and secure funding to mass-produce its Laser Beam.
TriLite’s latest round includes investments from Continental's Corporate Venture Capital Unit and an undisclosed global electronics supplier. With their support, TriLite will focus on mass production of their innovative Trixel® 3 projector, which offers exceptional image quality and brightness for AR and automotive applications. This funding demonstrates strong confidence in TriLite's technology and business strategy, positioning the company for continued success in the AR and automotive markets.
Read on for more information.
TriLite’s Trixel® 3 Projector
VividQ
VividQ raised $7.5M Series A to further develop holographic display technology, raising their total funding to $30M.
The Series A funding was led by the Foresight Group LLP. This boost will help them expand globally, especially into the U.S., and speed up their cutting-edge product development. Its tech is set to revolutionize industries like AR/VR and automotive displays, working with major brands like JVCKenwood to make futuristic, immersive experiences more accessible. It's an exciting time for holography, and VividQ is at the forefront of the innovation!
VividQ’s technology, as presented in Tech.eu
Amadeus APEX Technology Fund
ATMOS Space Cargo
ATMOS Space Cargo’s PHOENIX capsule, carrying biological experiments, is set to launch on a SpaceX program in February 2025. The company addresses challenges in temperature control during atmospheric reentry but is collaborating with another company to develop a robot incubator for the experiments. ATMOS is a team of international experts working towards pioneering reusable space transport in Europe. Learn more.
Sebastian Klaus is the founder and CEO of ATMOS Space Cargo
OKAPI:Orbits
OKAPI:Orbits is excited to welcome Guillermo Bosch as their new Chief Commercial Officer. With over 30 years of experience in the space industry, Guillermo will be instrumental in driving the company's growth and expanding its market reach. Additionally, OKAPI:Orbits has partnered with Aurora Propulsion Technologies to offer advanced collision avoidance solutions for satellite operators. This partnership combines Aurora's expertise in propulsion technology with OKAPI:Orbits' cutting-edge software to ensure the safety and longevity of satellites in the increasingly congested space environment.
OKAPI:Orbits’ advanced collision detection and avoidance software works with satellites
planqc
Exciting news from planqc! It celebrated the grand opening of its new building, hailed as a hub for quantum and semiconductor innovation, and even received a special visit from the Bavarian Prime Minister, Markus Söder. Additionally, planqc's co-founders have been recognized for their achievements by becoming finalists for EY Entrepreneur of the Year 2024 in the "Young Companies" category. Further solidifying their place at the forefront of quantum technology, planqc was also recently featured in the latest issue of Spektrum der Wissenschaft magazine!
planqc’s new building ceremony with a special visit from the Bavarian Prime Minister Dr. Markus Söder
UniSieve
Qemetica Soda Polska is taking a big step towards sustainable manufacturing by initiating live testing of UniSieve's innovative CO2 capture membrane solution. This technology captures carbon emissions before they enter the atmosphere, storing them in UniSieve's units. The captured CO2 will be put to good use right on-site, and transformed into valuable carbonates like soda ash and baking soda for various industrial and household applications. Check out more details here.
APEX Medical
Elucidate
Great news for Elucidate! The company won the prestigious Currency Research 2024 Advancement in Payment, Innovation, and Technology Awards. Its innovative real-time payment validation using AI won in the GenAI category.
ImageBiopsyLab
Good news for bone health! ImageBiopsy Lab is making waves in the medical imaging space. Its AI tool, IB Lab SQUIRREL, has shown impressive results in a new study published in the Journal of Clinical Medicine. Additionally, the company's CEO, Richard Ljuhar, recently joined a discussion on Brutkasten about their latest product, IB Lab FLAMINGO, aimed at addressing challenges in osteoporosis management (watch the discussion here).
Lyfegen
Lyfegen, the global leader in drug pricing and rebate management solutions, continues to achieve significant milestones and expand its global impact. Its library now includes over 6,000 public drug agreements. Recent additions include full coverage of China and Brazil and important updates from Switzerland, Denmark, the Netherlands, Finland, Australia, Italy, and Germany (combination therapies). Additionally, the Lyfegen team recently participated in the Canada’s Drug Agency Symposium 2024 in Ottawa, showcasing how Lyfegen is transforming PLA contracting and rebate management for provinces and manufacturers across Canada.
Lyfegen at the Canada’s Drug Agency Symposium 2024 in Ottawa.
Quibim
Quibim formalized its partnership with Macor, a leading company in the Argentinian healthcare sector, to support its expansion into Latin America. The collaboration aims to enhance diagnostic capabilities in Argentina by leveraging Macor’s local expertise and Quibim’s AI-driven imaging solutions. Learn more from Diagnostico Journal.
Quibim’s QP-PROSTATE imaging solution
Upfront Diagnostics
Upfront Diagnostics achieved ISO 13485 Certification for LVOne last month. This prestigious certification recognizes the company's commitment to quality management systems (QMS) and ensures the safety and effectiveness of their medical devices.
ISO 13485 is a globally recognized standard that outlines rigorous requirements for medical device manufacturers. By achieving this certification, Upfront Diagnostics demonstrates its dedication to producing high-quality products that meet the needs of healthcare professionals and patients.
This achievement is a significant milestone for Upfront Diagnostics, as it brings LVOne one step closer to reaching stroke patients. The certification also validates the company's readiness for commercialization and highlights the excellent work of its scientific team.
The ISO 13485 certification will allow the design, development, manufacturing, and distribution of a rapid blood test to diagnose stroke patients, highlighting the company's adherence to rigorous quality standards. Great milestone!
Upfront Diagnostics achieves ISO 13485 Certification for the commercialization of LVOne
Zetta Genomics
Zetta Genomics welcomed accomplished genomics leader Bram Goorden as Non-Executive Director. Bram brings over 20 years of life science experience and a proven track record of scaling businesses and driving innovation. His expertise will be invaluable as Zetta Genomics prepares for its Series A fundraising round and continues to transform healthcare through effective genomic data management and analysis.
Brams Goorden: “As genomic sequencing becomes increasingly cost-efficient, the next significant challenge is effectively managing and leveraging vast genomic data to transform healthcare. Zetta Genomics’ platform plays a critical role in addressing this challenge.”
APEX One
contextflow
Double congratulations to contextflow! Julie Sufana has been recognized as a "Voice of a New Era of Leaders" by the female factor, highlighting her leadership contributions (link in bio). The company itself is also celebrating being named one of the World's Best Digital Health Companies 2024 by Newsweek, showcasing its innovative solutions in the healthcare space.
kiutra
Great news from kiutra! It’s been selected for the latest EIC Accelerator funding round, a major boost for its work in quantum technologies. The company will receive ‘blended finance’ - a combination of grants and equity investments, the latter being made through the EIC Fund and typically topped up by capital from external investors. Additionally, kiutra is excited to announce a new free discovery program to help researchers elevate their quantum R&D. This program offers a free consultation call with an expert to assess your needs and potential solutions, as well as the chance to apply for a free initial measurement. Head over to kiutra's website to learn more and start exploring!
kiutra’s Co-founders (from left to right): Alexander Regnat, Prof. Christian Pfleiderer, Jan Spallek, and Tomek Schulz with their cooling system for extremely low temperatures.
Mobius Labs
Mobius Labs is changing the game with GemLite-Triton! The open-source software is a breakthrough in efficient low-bit matrix multiplication for Triton platforms. This innovation will help scale generative AI applications without breaking the bank, making AI more accessible to everyone.
GemLite-Triton
OroraTech
OroraTech is making a big splash on the international scene! It recently solidified its commitment to Greece with a ceremonial signing ceremony at the Thessaloniki International Fair, featuring the Minister of Digital Governance Dimitris Papastergiou, Deputy Minister Konstantinos Kyranakis, and Head of Earth Observation at the European Space Agency Dominique Gilliéron. Additionally, OroraTech was highlighted by the European Space Agency at their Industry Space Day in the Netherlands, showcasing its successful collaboration with public space programs for global betterment.
OroraTech signs agreement with the Greek government
Phantasma Labs
Phantasma Labs has joined forces with MKW GmbH Digital Automation to enhance MK|Ware, its central production process management solution. By integrating AI-driven planning functionalities, MK|Ware now offers more detailed and robust production plans and the flexibility to adapt to unexpected challenges. This collaboration demonstrates Phantasma Labs' commitment to providing innovative AI solutions for industrial applications.
Spleenlab
Spleenlab welcomed Serkan Arslan to its advisory board. Serkan's wide-ranging expertise makes him a key asset as Spleenlab expands its Safe AI perception technology to automotive, maritime, and aerial markets worldwide. He also brings a wealth of expertise as a result of more than 25 years of experience in the industry.
🧠 General Partner Andreas Riegler shared with Business Insider that AI startups should prepare for a wave of "down rounds," where valuations decrease as investor enthusiasm fades. Many startups that raised large sums are now struggling to justify inflated valuations and may turn to alternatives like acquihires and secondary share sales. With AI startups burning through cash to develop expensive, capital-intensive models, the market is showing signs of cooling. For more details, read the full article.
🌍 APEX Ventures' Ion Hauer and planqc CEO Alexander Glätzle were featured in Tech EU, discussing how Europe can compete with the U.S. and China in quantum computing. Ion emphasized the need for significant private growth funding, while Alexander pointed to the importance of attracting more private capital to industrialize quantum breakthroughs. Both believe Europe has the potential but needs stronger financial backing to lead in the global quantum race. Read more here.
🌟 Ready to dive into Deep Tech? 🌟
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