Deeptech software startup fund launched by Lunar Ventures
by Startacus Admin
A €40M first fund has just been launched by Lunar Ventures to support the next wave of European DeepTech Software startups
Good times ahead for European early-stage DeepTech startups with the news that Lunar Ventures, a new technical venture capital fund has closed a €40M first fund. In addition to investing into companies at the intersection of DeepTech and software, Lunar Ventures will use its own technical expertise to support technical founding teams and help them to turn their sci-fi ideas into a reality.
Computer scientist turned VC, Dr. Elad Verbin, Founding Partner of Lunar Ventures,explains, “Technical startup founders in Europe have a big problem. They struggle to find investors who actually understand what they’re building. Most VCs in Europe don’t come from a technical or scientific background, and they struggle to evaluate the underlying technology, failing to invest in promising science-based moonshots. We are a team of scientists and engineers and we have built Lunar Ventures to solve this problem. We find the best startups building the future, our team conducts rigorous technical due-diligence to evaluate their true potential, and then we lead their funding rounds. After investing, Lunar’s technical team provides specialised support, and helps these technical founders communicate their unique value to potential clients, hires and other investors. Our mission is to revolutionise the European DeepTech scene, to ensure that every founder building a moonshot product can obtain funding as easily as in Tel Aviv or in the Valley, and to inspire more scientists and engineers to join the VC ecosystem.”
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Lunar Ventures has already invested in 12 startups across Europe, including Zama, a Paris-based startup building end-to-end encryption for machine learning models and Berlin-based deepset which enables computers to understand plain language as easily as they understand numbers.
Now, it plans to invest up to €1M into early-stage DeepTech startups that are software focused. Its core theme is frontier computer science, looking at everything from democratising machine learning to cryptography, and new cloud infrastructures to next generation databases. It is looking for deeply technical teams working on breakthrough technologies. Lunar is also happy to invest in pre-revenue startups working on scalable solutions.
Check out the Luna Ventures site for more info on everything from the fund itself through to the fab team who founded it!
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Published on: 15th October 2021
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