ROCA X Venture Capital announces a dynamic end to 2023 and a first quarter of 2024. The first significant news is the acquisition of CODA Intelligence, a Romanian startup specializing in cybersecurity solutions, by PDQ, a leading global provider of IT asset management software, with complementary products to CODA. Following this strategic acquisition, PDQ has also announced the launch of PDQ Detect, an innovative solution developed with the help of the Romanian startup CODA Intelligence, for scanning and managing software vulnerabilities. https://business-review.eu/money/finance/roca-x-vc-announces-new-growth-opportunities-for-the-startup-industry-closing-the-first-quarter-with-a-major-exit-259288

The European Investment Bank (EIB) is strengthening its presence in the Baltic countries with offices opening this year in Riga and Tallinn. It also hopes to extend the reach of its existing regional office in Vilnius and make closer connections with financial institutions and companies in Latvia and Estonia. The move is expected to enhance support for high-tech start-ups in the region, both directly and by attracting venture capital and other private investment. As the lending arm of the EU, EIB offers loans to both public and private organisations and guarantees and equity investments that support EU priorities, such as climate action, sustainability, cohesion, and innovation. Investments in SMEs, including private debt, venture capital and equity funds are managed by the bank’s European Investment Fund. https://sciencebusiness.net/news/smes/ecosystem-european-investment-bank-aims-improve-sme-access-finance-baltics

Berlin-based venture studio Flagship Founders announced the spin-off of its fifth startup. The company, called Sealenic, is currently developing an information retrieval and management platform powered by artificial intelligence. Several well-known shipping companies are on board as development partners: Reederei F. Laeisz, Fairplay Towage Group and Harren Ship Management, who are already testing the solution in their operational processes. Their feedback will be used to further develop and optimize the software. The launch of the solution for the broad market is planned for this summer. https://maritime-executive.com/corporate/sealenic-virtual-ai-assistant-makes-accessing-info-in-shipping-efficient

Former Formula One champion Nico Rosberg, who clinched the title in 2016 before stepping away from the racing scene, is veering into asset management with a €30m venture capital fund. Rosberg Ventures will target tech-focused venture capital firms on behalf of affluent family offices across Europe. Expected to raise €75m by year-end, the fund plans to inject capital into VC outfits such as Andreessen Horowitz, Kleiner Perkins, and Accel, according to The Sunday Times. It is a “fund of funds”, a type of investment fund that invests in other investment funds rather than directly in individual securities. With over 35 start-up and growth-stage investments under his belt, Rosberg has been actively involved in venture capital for the past eight years. https://uk.finance.yahoo.com/news/nico-rosberg-former-f1-champion-112619930.html

Vodafone’s startup incubation joint venture Tomorrow Street has brought in more artificial intelligence (AI) and automation capabilities with the newest additions to its scaleup portfolio. Following the completion of its SCALEUP X acceleration programme in December 2023, Tomorrow Street has selected three AI-focused automation companies to join its family of scaleup partners: Emplay, Squirro, and Workato. The partner portfolio comprises eleven companies, more than half of which are based in the USA. They were chosen from a cohort of 20 companies over a six-month process designed to help find innovative scaleups that meet Vodafone’s needs. The common theme among the new partners is AI-based business process automation. The incubator is now “actively scouting for scaleup companies that excel in digital transformation and customer experience” and will start another cohort for the 2024 SCALEUP X programme this summer. https://www.telcotitans.com/vodafonewatch/tomorrow-street-adds-ai-and-automation-smarts-to-vodafones-scaleup-accelerator/7980.article

Vienna-based Elevator Ventures, a venture capital manager of Raiffeisen Bank International, announced on Monday that it has launched — EV II, a €70M Venture Capital fund, investing in innovative companies in the Series A and B stage. The VC will continue to support startups in Fintech & Beyond Banking with a €70M fund participation by RBI, Raiffeisen-Holding Niederösterreich-Wien, and Raiffeisen-Landesbank Steiermark. https://siliconcanals.com/news/startups/elevator-ventures-launches-70m-fund/

Blackswan Space has secured $800k in pre-seed funding round. The company, based out of Vilnius, Lithuania, is looking to develop software products for complex space & defense missions. The funding round was led by ScaleWolf, a hybrid accelerator and fund for defense tech with participation from Linas Sargautis, co-founder of NanoAvionics, Lemonade Stand, Baltic Sandbox Ventures, and Vladas Lašas – a serial entrepreneur and angel investor. https://www.satellitetoday.com/finance/2024/04/08/blackswan-space-secures-pre-seed-funding/