TLDR:
Key Points:
- Greek-owned startups raised over $60 million in May, totaling $214 million since the start of the year.
- Major investors such as Atomico and NATO Innovation Fund have been actively participating in these investments.
In just one month, Greek-owned startups have raised more than $60 million, bringing the total amount raised since the beginning of the year to over $214 million, according to data collected by Marathon Venture Capital. This significant influx of funding has been made possible with the help of major investors like the Atomico investment fund, managing over $4 billion in funds, and NATO, which recently invested in a Greek startup through its Innovation Fund. Despite recent challenges such as high inflation, rising borrowing costs, and geopolitical tensions, the startup market has shown remarkable growth and resilience.
One standout investment in the last month was made by the NATO Innovation Fund in Evangelos Zympeloudis’ iCOMAT startup, specializing in robotic machines for producing parts from composite materials to make them lighter. With the support of investors like the 8VC investment fund, which manages funds exceeding $6 billion, iCOMAT has raised a total of $22.5 million. A portion of this funding will be used to complete the company’s factory in the UK and strengthen its team in both the UK and Greece.
Other notable investments include Harbor Lab, a startup automating port cost management processes for shipping companies, which secured $16 million from Atomico, and Acumino, a company with exoskeletal systems incorporating robotic arms, raising $6.5 million from Greek and international investors. Additionally, Keragon, aiming to integrate artificial intelligence into the US healthcare industry, raised $3 million.
Overall, startups with Greek DNA, either headquartered or with branches in Greece, have raised a total of $214 million from the beginning of the year until now, showcasing the growth and potential of the Greek startup ecosystem.
