Fly Ventures, the Berlin-based VC that invests in seed-stage European startups inside enterprise and deep tech, has raised a brand new €53 million fund. The agency writes preliminary cheques of between €500,000 and €1.three million, and says it’s on the hunt for startups creating “novel, superior expertise on the reducing fringe of their respective sectors.”
Its debut fund was introduced in December 2017, and since then the agency has had two quiet exits to Fb, in addition to backed quite a lot of promising firms. They embrace autonomous driving startup Wayve, medical trials market Inato, anti-money-laundering startup Salv and cybersecurity startup GitGuardian.
Based by Gabriel Matuschka and Fredrik Bergenlid, Fly Ventures was one of many first of a brand new era of VC funds in Europe selecting to specialise round a sector, fairly than be too common or too native. On this occasion, deep tech and the enterprise.
Its founders are additionally each former founders or operators. Bergenlid beforehand labored at Google and was one of many brains behind Google Assistant, and Matuschka beforehand based journey purchasing membership TripHunter, which was acquired by brands4friends (now owned by eBay).
The Fly group has expanded since fund one, too. Late final 12 months I reported completely that longtime Entrepreneur First (EF) worker Matt Wichrowski was making a profession change to enterprise capital to supply Fly with a much bigger presence in London. And as a part of right now’s new fund announcement, the agency is revealing that further group members Marie Wennergren, Felix Wolf and David Malinge, have been promoted to associate.
“Fly is constructed with our founders in thoughts; structured to serve their most urgent wants: constructing advanced, industry-defining applied sciences and promoting it to giant shoppers,” says Matuschka in an announcement. “Fly delivers on this by its two-team strategy, combining one of the best business experience with main technical information. A rarity in European enterprise and one which makes us one of the best associate for enterprise and deep Tech startups in Europe.”
Provides Wichrowski: “We have now an unlimited expertise pool in Europe with deep experience and expertise. That expertise has the potential to remake total industries and that’s what we would like our fund to unlock. Enterprise is fairly easy: discover nice folks and make laborious, dangerous bets which have big outcomes. Lots of enterprise right now has misplaced this ethos. It’s develop into extra reserved with danger taking. We at Fly are going again to the guts of what VC is all about.”
In the meantime, in case you’re questioning about these two Fb acquisitions. They have been Bloomsbury AI, a startup that was constructing pure language processing (NLP) expertise to assist machines reply questions primarily based on data gleaned from paperwork; and Scape, a pc vision-based positioning service used for augmented actuality. Each acquisitions have been performed on the quiet. That’s, till TechCrunch had different concepts.