Even Newsletter June 2024
This is a monthly roundup of insights, opportunities, and updates on the latest in the startup world and women’s entrepreneurship. With so much happening, we know it can be tough to stay in the loop, so we're here to make it a bit easier for you by bringing forward only the hottest and most relevant content. Our first edition landed in subscribers' inboxes last Friday, and here's a sneak peek into what they were reading about.
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What’s up from Even Founders
2bn DKK will be used to support the Danish startup ecosystem, and our Founder Ana Andonovska shared her views in the article for Finans
Denmark has launched 41 concrete ideas to transform into a world-class entrepreneurial country. In its plan, the government states that women are today significantly underrepresented in Danish entrepreneurial environments. Therefore, the politicians will, among other things, strengthen women's access to capital in Denmark's Export and Investment Fund. While we see a lot of great initiatives, we cannot help but think that gender was not taken into consideration across the whole strategy, but it was more of a separate point in the proposal. Besides, Ana also mentions an important point that we need to get better at expanding female networks of entrepreneurs and investors. Read more here.
Startup School Cohort Fall 2024
Our 4th Startup School cohort is starting already on September 23rd! This year, we’ve developed brand-new content and extended the program for 8 weeks. We can't wait to see all the ideas come to life, so if you're a woman interested in building a startup, definitely join us! And, if you know one, who has this amazing idea lying in her folder on the desktop, definitely let her know about this opportunity and tell her she's got this!
If you’re curious about what our previous Startup School alumni are building, check out our LinkedIn post.
Featured founders:
Gakii Mugendi Lindegaard | Iburu Coffee
Carolina Velasco | GWTF
Michaela Raaby | LONO
Zero-to-One Event - August 29th
We'll host another event in our Zero-to-One series! We're putting together the program and will be sending out pre-access to tickets soon, so keep an eye on your inbox. One thing I can tell you already now is to mark your calendars for August 29th.
This month’s hot potatoes
1/4 of all U.S. Venture Funding—$34.7 Billion—went to companies with women founders in 2023.
Women have been at the forefront of founding significant companies in the generative AI sector. In recent years, AI companies have attracted some of the largest funding rounds and reached billion-dollar valuations faster than many other industries. Crunchbase data shows that in 2023, U.S. startups with at least one woman co-founder secured a record $34.7 billion in venture funding—25% of all funding, up from 15% in 2022. Remarkable!
Only 1,6 % of the total capital was invested in solely women-founded, venture-backed startups in Europe.
To compare with our previous hot potato from the U.S., let's dive into European investment trends published by PitchBook in June. While overall VC funding has surged, last year, companies founded solely by women received only 1.6% of the total capital invested in venture-backed startups, whereas 15.9% went to startups with mixed female and male founding teams. Even though the percentage is nowhere near EVEN, in 2023, we saw the creation of several women-led funds, incubators for female founders, and many new companies. This means that although there's still a long way to go, there are more opportunities and support systems now than ever before for women entrepreneurs. So, to all aspiring and early-stage women founders—there’s progress, and it’s a great time to be part of this change!
This might be relevant for you
Tech BBQ 2024
This September, one of the largest startup and innovation summits in Scandinavia is happening again, and we definitely won’t miss it. TechBBQ has opened its Startup Program, and if selected, your startup will get two free tickets to attend!
Check out the different activities they’re running this year:
North Star Pitch - TechBBQ staple competition, where 10 European startups will present their pitches on stage to compete
Life Science Pitch - All life science startups are invited to apply for this competition powered by Novo Nordisk
Startup Showcase - Selected startups will get a chance to be part of showcasing the area at the heart of the TechBBQ Summit! Startup Showcase is open exclusively for Nordic and Baltic early-stage startups.
Urban Tech Pitch - All urban tech startups are invited to apply for this competition powered by RealDania, 8 startups will be invited to pitch on stage
Foodity Open Call #2 - Apply by 10th July!
Foodity, project backed by the EU, just opened their second call for applications! They're on the lookout for social innovators to join their program and receive funding up to €187,500. Plus, you'll get training and support to develop your solution. Got a game-changing digital idea to help people make healthier food choices and build sustainable food systems? If so, check this out! Read more.
Must-read for all FUNDERS and FOUNDERS
The article by Najada Kumbuli, the VP and Head of Investments at Visa Foundation and Stephanie Heller, the Founder of Bootstrap Europe, discusses the crucial shift of women's wealth to women-led funds, aiming to create a more equitable economy. It’s a fascinating read, highlighting a great chance to boost women’s leadership in managing investments and starting businesses. And, when we ask again the same question from the intro of this newsletter, “But, what can we do?”, you can find some pretty actionable steps here:) Read more.
Funded!
Let’s start talking more about the amazing companies women are building!
Sweden: Starting our Funded report with late investment from May- Natural Cycles°, the pioneering women’s health company behind the world’s first birth control app, has closed a €50.8 million Series C round led by Lauxera Capital Partners, with participation from Point72 Private Investments and J.P. Morgan. Founded in 2013 by Dr. Elina Berglund Scherwitzl and Dr. Raoul Scherwitzl, Natural Cycles° is now used by over three million people worldwide and remains the only digital birth control approved by major regulators in both the US and Europe.
Another investment in the women’s health sector from June- Swedish-based DAYA just closed a pre-seed round! Daya Ventures is a global femtech venture studio, co-founded by Jennifer Grönqvist and Jenny Lundkvist, focusing on creating and accelerating women-founded, high-impact startups within women's health. The investment was led by Nextblue, an international VC fund that supports startups in Europe and Japan, joined by Vera Invest and others.
Denmark: Great news from EvodiaBio which is on a mission to revolutionize sustainable aroma! Led by CEO Camilla Fenneberg, EvodiaBio secured a €7 million investment. Both international and Danish investors, including EIFO and The March Group, backed this funding round. The new capital will be used for commercialization and expansion, positioning EvodiaBio to make significant strides in the sustainable aroma industry.
So, that’s it! If you’ve made it to the last lines of this newsletter, besides catching up on the hottest news, you’ve also gotten to know 10 incredible women founders along the way.
Share your thoughts with us and feel free to drop us a message if you have anything on your mind that you'd like us to cover next month.
Until next time,
Jasmina from Even Founders
