Unglamorous problems, funded this week
Unglamorous problems.
Funded this week.
Five European rounds from the first week of November, all aimed at problems most people never think about.
- Vensum Power, Espoo: €9M Series A, co-led by Lifeline Ventures, Larsen & Toubro Group and Eviny Ventures. Vensum develops software-controlled power conversion that cuts electricity losses, for EV charging, energy storage and AI data centres. Mass production is planned for 2027, with AI data centres as the next market.
- Tallia, London: €4M seed, co-led by Outward VC and ICAEW, with Portfolio Ventures, Expedite Capital and angels joining. Tallia builds an AI research and drafting tool for tax and accountancy professionals, with answers tied to legislation, guidance and case law. It is ICAEW's first direct investment in an AI company.
- Juritas, Stockholm: €1.4M pre-seed led by Passion Capital, with BlackWood, Araya Ventures, Baseline, Angel Invest and the Angel Collective of byFounders joining. Juritas tracks what happens after a contract is signed. It starts with supplier contracts and answers questions like whether a volume discount has been triggered, citing the clause.
- Seamoretech, Porto: €1.1M, the first close of its seed round, from Rypples, 7Seas Capital and Crédito Agrícola. Seamoretech treats the brine left over from desalination plants and recovers fresh water and minerals such as magnesium, copper and lithium. It is a spin-off of the University of Porto's engineering faculty, founded in 2021.
- Lumetry Diagnostics, Graz: undisclosed amount, with Raiffeisenlandesbank Niederösterreich-Wien AG taking 10% as lead investor. Lumetry builds a breath analysis device for COPD patients that combines spirometry and capnography for home and clinical use. A follow-up model for early COPD detection is in development, with its AI algorithms in clinical testing.
Three of the five go after a cost that sits quietly inside an existing process: power losses, desalination brine, value lost after a contract is signed. One is a university spin-out, and one did not disclose an amount.