FinTech Wire: Episode #66 – Non-Mainstream News, August 2024

Box, a top player in Intelligent Content Cloud, has acquired Alphamoon’s AI-driven document processing technology. Combined with their recent purchase of Crooze, this strengthens Box’s platform. Founded in 2017 in Poland, Alphamoon secured €2.3 million in funding, according to Crunchbase. Though the acquisition has been completed, details about the purchase price and how many employees will join the acquiring company were not disclosed.

Sync Savings, a UK-based fintech startup, is set to launch next month, founded by former Monzo executives Joss Tasker and Alex Fox. The company provides banks, building societies, and credit unions with a solution to integrate their savings accounts into third-party platforms. Following a six-figure friends and family funding round and support from the Lloyds Launch program, Sync Savings will debut its plug-and-play service with an undisclosed cloud-based payroll provider.

Three of the five cofounders of French AI startup H Company have quit. Just three months after securing a $220m seed round and before launching a product. Karl Tuyls, Daan Wierstra, and Julien Perolat – former Google DeepMind scientists – are leaving due to “operational differences,” according to a LinkedIn post.

H stated that the company is “continuing its journey” and plans to launch a series of models and products by the end of the year.

Bilt Rewards, a New York-based fintech startup, has raised an additional $150 million, pushing its valuation to $3.25 billion. This comes just months after the company secured $200 million in a previous round. Founded in 2022, Bilt offers a unique Mastercard credit card and loyalty program, allowing renters to earn points on rent payments and work towards homeownership.

The new funding will support the expansion of Bilt’s offerings, including plans to introduce mortgage payment features later this year and grow its loyalty program across the U.S.

Italian stratospheric balloon company Involve raised €2.5 million in a Seed round after 30 successful launches. Their advanced platforms and smart software provide real-time data for environmental protection, resource management, and infrastructure security.

Dac.digital’s Revoize is revolutionizing audio quality with Generative AI, turning noisy, degraded audio into clear, studio-level sound for any device. This technology aims to greatly improve communication for billions, making digital interactions clearer and more enjoyable. Funding was led by AIP Seed, a venture capital firm.

Planera, a construction-tech startup, raised $13.5 million to grow its scheduling and planning software for commercial projects.

Contractors often use outdated or general-purpose tools that are hard to use or not built for construction. Planera offers an easier solution with a digital whiteboard interface that supports real-time collaboration, helping contractors manage both short and long-term projects more efficiently.

Epum, a startup based in Amsterdam and NYC, raised €1.47 million in an oversubscribed pre-seed round led by Curiosity VC. The funding will help make the commercial real estate industry more data-driven, supporting pension funds with better investment returns. Epum’s platform helps developers and investors find the best sites, predict market trends using AI, and create investment memos 10x faster than usual. Founded in 2023, the team includes former real estate developers, tech engineers, and experts in Geospatial AI.

Tallinn-based startup Myceen is developing eco-friendly building materials made from mycelium to reduce the construction sector’s carbon footprint. Their mycelium-based insulation is both efficient and sustainable.

The company recently secured €2M in grants and is working on raising an additional €1-1.5M in seed funding to bring its innovative products to market.

Berlin-based assetbird develops software to help B2B real estate investors streamline their acquisitions through digital tools. Their AI-powered platform automates deal tracking, centralizes teamwork, and simplifies market data evaluation.

Fractile, a UK startup building a revolutionary AI chip, has raised €13.8 million in seed funding from Kindred Capital, NATO Innovation Fund, Oxford Science Enterprises, and others. Founded in 2022 by AI PhD Walter Goodwin, Fractile’s new chip design aims to make AI models run 100x faster and 10x cheaper by using in-memory computing, reducing the need to transfer data between chips.