Home Startups 2023 Greek Funding Rounds You Need to Know

2023 Greek Funding Rounds You Need to Know

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The past month has seen an increase in funding rounds within the Greek startup ecosystem, with several companies based and founded in Greece raising significant capital to fuel their growth and expansion plans.

With deals across verticals such as ML, AI, energy, mobility and more, the funding rounds represent a strong vote of confidence in the country’s ability to create and grow successful businesses . In this article, The Recursive takes a look at the biggest deals made over the past month in Greece.

Last transaction: $25 million

What theyre doing: Founded by entrepreneurs Helen Kontozopoulos and Philip Poulidis, ODAIA’s AI-powered customer data platform, MAPTUAL, enables life sciences brands to more effectively market therapeutics, drugs and vaccines.

The Canada-based company’s $25 million Series B round was led by Threshold businesses and co-led by Monograph Capital, Wittington Ventures also joined, with participation from existing investors such as Flint Capital, BDC Capital’s Women in Technology Venture Fund, StandUp Ventures and Graphite Ventures.

Name: KoRo

Last transaction: $20 million

What theyre doing: Founded by Constantinos Calios, food tech startup KoRo solution aims to create a transparent supply chain by sourcing ingredients directly from producers, implementing efficient logistics processes and selecting bulk packaging solutions simple in design.

The company raised €20 million in a Series B expansion round from new investors SevenVentures, Associated British Foods and Haub Legacy Ventures and benefited from continued support from existing shareholders HV Capital, Five Seasons Ventures and Partech. The new funds will be used to further expand its market presence in the DACH region.

Last transaction: $16.3 million

What theyre doing: Greek company Caristo Diagnostics (with entrepreneur Charalambos Antoniades among its founders) is an AI-assisted diagnostic and risk prediction tool designed to support the diagnosis of coronary heart disease and offer better prediction of disease risk .

The company raised $16.3 million in a Series A funding round led by Oxford Science Enterprises and participating investors including Oxford Investment Consultants, BGF, University of Oxford and Longwall Venture Partners. Caristo Diagnostics plans to use its latest funding to advance its CaRi-Heart technology for heart disease detection into cardiac care standards in major global markets.

Last transaction: €5 million

What theyre doing: YourHero is a Greek startup active in the home services sector, aiming to disrupt the way customers transact with home services and enable professionals to grow their businesses.

The Greek startup closed a €5 million investment round earlier this month, which it plans to use to expand into new markets, develop products, as well as launch its B2B segment.

Latest transaction: £2.7 million

What theyre doing: Perceptual Robotics uses drones, ML and AI for a deep autonomous approach turbine inspections four times faster than traditional solutions.

Their solution is called Dhalion and it collects high-quality data, while quickly analyzing it with AI data processing. Dhalion also increases safety during inspections, increases profitability and significantly reduces turbine downtime for wind farm operators.

The latest funding round was led by OnePlanetCapital and L-Stone Capital, with existing investors including Brookstreet, Deeptech Labs, TSP Ventures and Metavallon VC joining the round.

Last transaction: $2 million

What theyre doing: Velos Rotors manufactures drones (unmanned aerial vehicles) that have a twin-engine design and reduce noise and vibration, and significantly improve overall efficiency and performance. The Velo Rotors team of experienced entrepreneurs Tasso Argyros and Michael Seal, as well as veteran electrical engineer Aris Kolokythas, is now looking to expand the organization.

The Greek-founded company’s latest $2 million funding round is backed by Marathon VC and will be used to further develop its drone technology and increase its manufacturing capacity.

Last transaction: $1.4 million

What theyre doing: SMPnet is a Greek company that offers an integrated solution enabling adaptive optimization and real-time control of energy assets, thereby enabling true real-time operation of power networks. Their solution increases security and cost-effectiveness of supply, but also enables network operators and utilities to optimize network usage, paving the way for a more sustainable future.

The latest seed round was led by Marathon VC, alongside angel investors and industry insiders.

Name: Caroo

Latest offer: undisclosed

What theyre doing: Greek car sharing startup secure an undisclosed funding round, backed by investors including HEBAN, LBAN and Anthology Ventures.

The company’s car-sharing service allows users to access vehicles on demand in Athens through the use of its app, which can find available vehicles nearby and use them.

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