Mapon, a Riga-based fleet management solution provider, has secured €3 million in funding through a bond issue to finance acquisitions and expand its operations in Europe. The funding was attracted from private and institutional investors. Mapon offers fleet management and asset-tracking solutions, maintaining a client-centric approach and achieving a growth rate of nearly 30% over the past five years. The company plans to use the funds to strengthen its position in current markets, invest in opening new branches in Europe, and make similar acquisitions in the future. With a client-centric approach, professional and committed team, and continuous product development, Mapon aims to maintain its annual growth rate of nearly 30%, which it has achieved over the past five years, constantly beating the market. According to unaudited data, the company’s turnover reached €17.3 million in 2023. This year, it is estimated to exceed €22 million. https://arcticstartup.com/mapon-raises-e3m/

In the rapidly evolving digital landscape, cybersecurity has become a critical concern for businesses of all sizes. Cyber Upgrade, a Lithuania-based cybersecurity startup, recently made headlines by securing €650,000 in pre-seed funding to bolster its mission of providing accessible and inclusive cybersecurity solutions. This investment round was concluded last month and joined by venture capital firms like Firstprick, NGL ventures, and other business angels. https://150sec.com/lithuanian-startup-cyber-upgrade-raises-e650000-on-a-mission-to-scale-cyber-governance/19331/

Since its inception, AQUATY has raised more than 2 million USD in pre-seed funding from angel investors like Mirko Novakovic or Target Partners founder Berthold von Freyberg. Following a successful beta phase, AQUATY has now launched its product suite for VCs, syndicate leaders, and private investors, including business angels. Looking forward, AQUATY is set to introduce a new product catered to founders, with a strong emphasis on cap table and ESOP management. AQUATY is a fully digital platform that makes venture capital and private market investments more efficient, accessible and liquid. By reducing the traditional complexities and transaction costs, AQUATY empowers founders and investors to engage in venture capital investment opportunities. The platform's applications include digital settlement of investment processes, facilitation of secondary transactions, and management of virtual stock programs (ESOP). https://www.aquaty.vc/blog/aquaty-launches-its-vc-technology-platform

Austrian startup Mo Energy Systems has developed a standardized system for solar bike roads, featuring 12-meter-long structures with a variable width ranging from 2 meters to 4.5 meters. It includes anchoring, without the need for concrete or excavation work. The project was awarded the “Special Prize for Visionary Concepts” at the 4th Innovation Award for Integrated Photovoltaics of the Austrian Technology Platform Photovoltaics (TPPV). The prize will be awarded on April 4, 2024, in Vienna. https://www.pv-magazine.com/2024/03/13/austrian-startup-offers-standardized-system-for-solar-bike-roads/

The upcoming edition of the Tenity Incubation Program in Switzerland welcomes a cohort of 9 early-stage startups selected from a pool of more than 400 applications globally. For the next four months, the Fintech startups will go through an intensive program, including workshops and events on topics such as product-market fit, marketing, and fundraising. The program will culminate in a Demo Day event on June 13, 2024. https://fintechnews.ch/funding/tenity-invests-in-3-swiss-early-stage-fintech-startups/69714/

Bulgaria’s Vitosha Venture Partners has invested 1.49 million euro ($1.61 million) in five startups with a high scalability potential and outstanding business development achievements. Vitosha invested 600,000 euro in human resource services provider Team Schedule as part of a 1 million euro funding round, the firm said in a written response to a SeeNews enquiry. The startup offers a software-as-a-service (SaaS) solution for large companies, facilitating the management of work hours, shifts and breaks, as well as generating data for remuneration and management reports. In addition, the firm injected 350,000 euro into IT services and consulting startup Kikimora.io in a 653,000 euro funding round. The company provides a platform for automated monitoring and management of critical cyber security risks. The VC firm also put 200,000 euro each into ECEON, a startup specialising in the development and production of warehouse logistics robots, and recruitment platform HROS.io. ECEON's robots employ artificial intelligence for the autonomous transport of materials, cargo and pallets in warehouses, while HROS.io uses references for the recruitment of highly qualified human resources. Lastly, e-commerce platform Krik.bg received a 140,000 euro investment from Vitosha Venture Partners in a 346,000 euro funding round. Krik.bg connects European suppliers and buyers of second-hand car parts through smart data analyses. Vitosha Venture Partners is co-financed by the European Structural and Investment Funds under the Innovation and Competitiveness 2014-2020 operational programme, managed by the Fund of Funds in Bulgaria. https://seenews.com/news/vitosha-venture-partners-invests-15-mln-euro-in-five-startups-850602

Bulgarian venture capital fund LAUNCHub Ventures said on 19 February that it led a $4.2 million (3.9 million euro) seed funding round of UK-based biotech startup GlycanAge, alongside UK deep- tech fund Kadmos Capital. GlycanAge will use the fresh funding to strategically shift from the longevity space to the broader diagnostics market, advancing its mission to redefine personalised preventative healthcare, LAUNCHub Ventures told SeeNews in an emailed statement, without disclosing the size of its investment. The financial injection will also allow GlycanAge to establish a clear regulatory strategy and product pipeline in order to develop disease-specific prognostic biomarkers. The startup is additionally backed by a $140,000 grant from Emirati state-owned fund Mubadala’s accelerator programme HUB71 and $220,000 from an EU artificial intelligence (AI) grant, aiming to bridge the gap between diagnostics and AI. https://seenews.com/news/bulgarias-launchub-ventures-invests-in-glycanage-848888