OTB Ventures Secures $185 Million, Fueling Europe's DeepTech Ambition
- OTB Ventures has completed its Fund 2 round, raising $185 million, highlighting robust support for Europe's DeepTech industry and reinforcing its pivotal role.
- The fund will focus on SpaceTech, Enterprise Automation & AI, Cybersecurity, and FinTech Infrastructure, allocating a portion of its resources to early-stage and Series A investments.
- Since November 2022, OTB has made nine strategic investments, including a seed investment in SEMRON.
OTB Ventures, a leading investor in European DeepTech startups, has successfully concluded the funding round for Fund 2, raising an impressive $185 million. This not only demonstrates the strong support for Europe's burgeoning DeepTech sector but also solidifies OTB Ventures' position as a key player in its advancement.
Building upon the triumph of their first fund, which yielded remarkable results, OTB Ventures' second fund has overcome market challenges to achieve this milestone. Adam Niewiński, Co-Founder and Managing Partner of OTB Ventures expressed his satisfaction with this accomplishment.
Today we announced $185m Fund 2 to partner with the the most innovative #European #DeepTech companies. We’re proud to welcome @NATO Innovation Fund as one of investors, marking one of their first investments as a fund of funds https://t.co/Fl6uXUKOUK @TechCrunch by @abracarioca
— OTB Ventures (@otb_ventures) March 21, 2024
The new fund will concentrate on four pivotal sectors driving Europe's technological progress: SpaceTech, Enterprise Automation & AI, Cybersecurity, and FinTech Infrastructure.
While Fund 2 will primarily invest in Series A, it will also allocate 10% towards seed funding for early-stage innovation.
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More than half of the capital raised will be utilized for follow-on investments, providing crucial support to the top-performing companies in OTB Ventures' portfolio.
Since November 2022, OTB has already made nine strategic investments from Fund 2, including notable names like KYP.ai, akirolabs, and Veridion.
Recently, OTB Ventures made a seed investment in SEMRON, a Dresden-based startup specializing in AI chips with exceptional compute density.
This investment underscores OTB Ventures' strong focus on semiconductor technology and their unwavering commitment to fostering innovation and entrepreneurship.
Edited by Harshajit Sarmah
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