Our January list of great startups includes successful startups from the USA and Western Europe. Scientific research and breakthrough projects are behind the activities of Pasqal, Welinq and Arkeon. Memfault and QuickNode are providing advanced tools for software development in the field of IoT and Blockchain. GoParity, AnyFin and Strava are striving to improve personal well-being, offering additional opportunities.
Quantum Computing
Pasqal
Country: France
Founding date: 2019
PASQAL is a quantum computing company based on Nobel prize-winning research in physics by Professor Dr. Alain Aspect, which began as a spin-off from Institut d’Optique. Currently, the company is building quantum computers from ordered neutral atoms in 2D and 3D arrays. Neutral atom quantum processors utilize lasers to retain atoms in place with what is basically an optical tweezer. The company states that it has reached the point where it can control more than 300 atoms at a time. The main goal is to develop a practical application of quantum algorithms in various industries.
PASQAL actively cooperates with other companies on joint projects. For example, with BASF the company has tested the technology for use in predicting weather patterns. And with BMW, using algorithms in crash test simulations and development of lighter parts and materials. Recently, the results of a joint study involving Credit Agricole CIB, Pascal and Multiverse Computing were announced. The aim of the study was to look at the potential of quantum computers in evaluating financial products and credit risk assessment.
Recently, the company has raised €100 million in a Series B funding round. The team has big plans for the future: it is working on developing a 1,000-qubit quantum computer and then adding fault-tolerant architectures; increasing quantum systems production for on-premise installations; expanding the development of proprietary algorithms for energy, chemistry, automotive, mobility, healthcare, corporate technology, finance and public administration; and also, the opening of new offices in in the Middle East and Asia.
Welinq
Country: France
Founding date: 2022
Welinq is a startup with a team that unites scientists from two quantum technology laboratories and four public research institutions. They have developed quantum interconnects using laser-cooled neutral-atom technology. This means that quantum information can be stored and transmitted on demand without changing its properties. These interconnects are the core element of long-distance quantum information networks and will allow quantum computing to scale beyond the range of thousands of qubits, unlocking its full potential. During experiments, Welinq has already showed 90% storage-and-retrieval efficiency with a qubit fidelity above 99%.
The team’s primary goal is to implement highly-efficient quantum memory into industry by interconnecting quantum processors and creating quantum communication infrastructures. Recently, the company has raised €5 million in a Seed funding round. The financing will go towards further development, for example creating more powerful quantum processing units and building long-distance quantum information networks. Such networks can be used by geographically separated quantum computers to communicate with one another.
FinTech, sustainability
GoParity
Country: Portugal
Founding date: 2017
GoParity is an investment platform for financing sustainable and green projects. One can invest as an individual or on behalf of an organization. The company follows gender-equal and youth-friendly practices and is seeking to attract conscientious investors. At present, the platform has over 30,000 users from 70 countries. The projects are presented in areas such as health, eco-fashion, electric mobility, renewable energy, sustainable aquaculture, and education. GoParity has already helped to fund 248 projects in Europe, South America and Africa.
Recently, the company raised €2 million in a Seed funding round. Part of the money came from the platform’s users as a collective investment. GoParity is planning to expand across Europe and North America, namely Spain and Canada, add new features to the platform and strengthen its environmental and social impact.
FinTech, personal finance
AnyFin
Country: Sweden
Founding date: 2017
AnyFin offers a mobile app to manage personal finance, including money-saving loan and credit programs. Users are offered their debt refinancing mechanism at fair interest rates. Each user is assigned a specific risk profile, based on which they can refinance existing installment payments, credit cards, and personal loans. The workflow is quite simple. One only needs to select a current loan provider and upload the picture of their statement via the website or mobile app and then get a refinancing offer from Anyfin with a lower interest rate. Also, the user can add widgets to the home screen that provide info about frequent purchases, daily spends, how much money is left in the budget and days before the next paycheck.
The company operates in Sweden, Finland, Germany, and Norway. At the moment, the mobile app has been downloaded more than 1 million times. Anyfin states that it has saved customers a combined $68 million, lowering the average user’s loan costs by 50%. Recently, the company raised €30 million in a Series C funding round. It plans to expand its European market and add new technical features to the app.
IoT, software
Memfault
Country: USA
Founding date: 2018
Memfault provides an IoT development platform to build software for various wearables and smart devices. The company is distinctive in its approach to “device reliability engineering,” aiming to transform the principles of building and operating IoT devices. The platform has performance monitoring, debugging, and OTA (over-the-air) update capabilities. Memfault helps its clients comply with all environmental, privacy and security regulations and to scale their projects following sustainable processes.
In December 2022, Memfault was honored by the global awards program Tech Trailblazers Awards in the IoT category. Each year, IT industry experts create a list of the best enterprise technology startups in 15 categories, and the winner is chosen by a vote of the jury and the public. Earlier this year, the company was also named “IoT Emerging Company of the Year for the Consumer Market” in the IoT Breakthrough Awards 2023.
Among its clients are Bose, Logitech, Lyft and Traeger. Recently, the company closed a $24 million Series B funding round. The financing will be used to increase the team and add new technological capabilities and out-of-the-box integrations. Memfault has announced a strategic partnership with semiconductor manufacturers Infineon, Nordic Semiconductors and NXP.
Blockchain, software
QuickNode
Country: USA
Founding date: 2017
QuickNode is an end-to-end platform for Web3 development, using a large database of APIs and analytic tools. One can use it to build decentralized finance apps, NFT decentralized apps, crypto wallets and analytics apps. The platform operates across more than 16 chains (including Bitcoin, Ethereum, Solana, Polygon, Binance Smart Chain, Avalanche and Abritrum) and 36 networks. It promises 2X faster response time and 99.99% uptime. The company states that it has more than 100,000 active developers on the platform.
QuickNode has its own marketplace for Web3 tools, where developers can buy and sell plugins, APIs and apps. The main goal is to create more easy opportunities for customization of clients’ products. Recently, the company raised $60 million in a Series B funding round. It plans to use the funding to further development of the platform and strengthen its position in the market, creating educational content and hosting community-driven events and workshops.
Biotechnology, organic food
Arkeon
Country: Austria
Founding date: 2021
Arkeon is a biotechnology company that handles R&D in the field of organic food. It has developed nutritious proteins that do not add carbon to the atmosphere and contain functional ingredients with a clean label. In simple terms, they are turning CO2 into food with the help of microbes. The microbe used in the process is a part of the microbiota of all organisms. It absorbs carbon emissions and transforms them into nutritious protein. The result is 20 amino acids that are necessary for human nutrition.
The company’s sustainable approach doesn’t involve resource constraints, geographical restrictions or animal suffering, rather turning an environmentally harmful gas into a value-added product. The company has raised €2.75 million funding from ICL Planet Startup Hub, which is the AgriFood innovation and investment platform of global specialty minerals company ICL. In addition, Arkeon will get complete access to ICL’s research laboratories and production facilities to scale up and develop CO2-derived protein ingredients for the plant-based food market and the functional food market.
Fitness, social
Strava
Country: USA
Founding date: 2009
Strava is a tracking and social platform for running and cycling activities. It is also working to add hiking to its scope, by adding a new trail sports and routes option aimed at walkers, mountain bikers and trail runners. The company operates in 195 countries with more than 100 million users. The users can create routes, record all their own activities and communicate with other amateurs. Strava is partnering with Snapchat so that users can create and share their fitness activities in snaps and stories directly from Strava to Snapchat.
This year Strava has started to make significant changes. Tara Comonte, CEO of TMRW Life Sciences, has joined the board of directors with the aim of strengthening the brand. And the second thing is the acquisition of 3D mapping platform Fatmap for outdoor activities like hiking, trail running, skiing, and mountain biking. Full integration with Strava is a long development process. That’s why, at the start, there will be a single sign-on integration, allowing Strava users to log in to Fatmap using their credentials and thereafter use its features set.
