🌯 Q4 Wrapped

MMV Europe & APAC

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Jan 23, 2025

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2024 was another dynamic and rewarding year for the MMV team. We are pleased to have welcomed to our portfolio both Tuio, a Spanish AI-first insurance company offering consumers a 100% digital insurance experience, and H2SITE, a deep-tech pioneer of hydrogen separation solutions. We also continued our support of our current portfolio with follow-on investments in Griffin ($24M round), Qoala ($47M Series C), Scrut Automation ($10M round), and Testsigma ($8.2M round).

Looking to 2025, and as the world anticipates slower inflation and stabilization of interest rates, we hope to see continued investment momentum in European VC as well as in APAC. We are incredibly excited about developments in the climate space and the opportunities they present (in fact, we have an investment in Climate pending that we can’t wait to announce). We’re also diving deep into the potential of AI agents and their adjacent applications. If you’re building something innovative in this space, please reach out!

To find out more about what we were up to in Q4 and where to meet us next, keep scrolling ⬇️

📈 New Investments

H2SITE

Deep-tech pioneer of hydrogen separation solutions

We’re excited to share that we’ve invested in H2Site’s €36M Series B, co-led by Hy24 and SC Net Zero Ventures, with participation from Breakthrough Energy Ventures, Enagas Emprende, Equinor Ventures, and Exergon. Since 2021, H2SITE has been developing a proprietary membrane reactor technology which enables hydrogen separation from gas streams and easy-to-transport molecules, such as ammonia or methanol. H2SITE has built and operated 15 projects in Western Europe and is now developing large-scale infrastructure first-of-a-kind projects in North America, the EU and Asia Pacific.

The Series B funding aims to support the company’s next industrialization and commercialization milestones, including multi tons per day hydrogen production capacity in operation by 2026, and addressing several end-use markets such as large scale and decentralized ammonia cracking, natural hydrogen production in the USA and maritime decarbonization applications. By tackling the challenge of hydrogen supply chain, separation technologies play a critical role in the suite of innovations required to build a reliable, scalable, and efficient low-carbon hydrogen economy.

🗞️ Portfolio news

Aspire, Qapita, and Indebted
Congrats to the teams at Aspire, Indebted, and Qapita on being named to the CB Insights 2024 Fintech100 list!

Additionally, InDebted announced the acquisition of Receeve, a leading collections decisioning software provider. As financial institutions seek modern alternatives to outdated collection methods, this strategic acquisition enables InDebted to service the entire collections lifecycle — from pre-delinquency through to resolution, with Receeve optimising internal debt collection strategies through data analytics and machine learning.

Daye
Daye was recognized on Time’s list of Best Inventions of 2024 for their diagnostic tampon, a convenient, at-home device that detects STIs and other vaginal infections.

HarfangLab
Congratulations to HarfangLab on their performance in the MITRE 2024 evaluations in which they scored 100% for detection and 99% for accuracy!

Headquarters (HQ.xyz)
Headquarters (HQ.xyz) has achieved SOC 1 and SOC 2 Type II compliance! These internationally recognized certifications are awarded to companies that demonstrate high quality and reliability in their services. SOC 1 is essential for companies that help with users’ financial reporting, while SOC 2 is crucial for technology vendors to ensure stringent data management standards. The milestone reflects their commitment to the highest security and data privacy standards for their users.

HelloBetter
HelloBetter has received €3M in innovation funding in the form of public grants and loans, supported by the Brandenburg Ministry of Economic Affairs, Labor and Energy through the Investitionsbank des Landes Brandenburg (ILB). The funds will be used for the research, development and commercialization of a transdiagnostic digital mental health solution — called “MindFIT” — that uses AI to personalize the user experience and thus improve program usage time, user satisfaction and their mental health status.

Microsec
Microsec announced the launch of MicroIDS Cyber Assessor for Manufacturing — the world’s first AI-based automated cybersecurity platform tailored specifically for IEC 62443 assessments. The platform automates the assessment process and enhances compliance evaluation accuracy across sites and down to the device level, including third-party equipment, hardware, and software. It provides a comprehensive summary through a “single pane” dashboard and generates an automatic report detailing the organization’s risk level, compliance score, and recommendations.

Scrut Automation
Kudos to Scut Automation for being named to the Fortune Cyber60 list. 🎉

Sugar.fit
Sugar.fit announced that Cricketer Sachin Tendulkar has joined Sugar.fit as a brand ambassador. As part of this partnership, Tendulkar will serve as the face of Sugar.fit and represent its overall diabetes management program, aiding the company in its journey to battle against Type 2 diabetes.

Testsigma
Testsigma launched Codeless Accessibility Testing to help businesses ensure digital inclusivity while making the testing process seamless. Testsigma’s codeless solution automates WCAG 2.2 compliance checks, integrates accessibility tests into your existing workflows, and provides real-time issue detection, all without needing any coding expertise.

💼 Portfolio Jobs

Looking for a new role? We have 70+ thriving companies in our portfolio with over 400 open positions across a wide range of job functions and locations. Click here to explore.

🎤 Community

The MMV Europe & APAC team had a packed Q4, connecting with founders, investors, and the broader ecosystem across the globe.

Over in APAC, we co-hosted an event for B2B SaaS founders in Singapore with our friends at Google and Wavemaker Partners. Attendees heard candid, actionable insights from founders and sales leaders, and gained hands-on tactics to optimize key customer touchpoints to close larger, more strategic deals.

The team also hosted the third session of HealthTech Breakfast Club — a casual community meetup to chat about happenings, trends, and insights in HealthTech — alongside Amazon Web Services (AWS) and Tech Brews.

In October, Carlos joined the “Investment in Action: Exploring APAC’s Insurtech and HealthTech Potential” breakfast forum, hosted by Asia Health Innovation Summit and EY Singapore. The panel discussed key investment trends, industry report insights, and emerging opportunities in APAC’s insurance and health technology landscape.

Alix joined the Singapore Fintech community at the Singapore Fintech Festival in November. Over in Europe, she caught up with the energy and climate tech community first at EnLit Europe and then at Tech Tour Energy & Decarbonisation 2024 in Germany. She also joined Seaya Andromeda’s Climate Tech Breakfast in December.

Alix and Sam made it to Helsinki for Slush in November, but then it was time for Alix and Ryan to trade in the cold of London for some sun at the Abu Dhabi Finance Week in December. Sam also attended HowToWeb in Bucharest as well as Blackhat Europe in London.

Yara had a busy quarter, first speaking on the “Start-up and Scale-up Discovery” panel at Frontiers Health in Berlin. She then made her way stateside to Las Vegas for HLTH, and following that, she headed to Barcelona in December where she moderated the panel “How do we overcome innovation capacity challenges in healthcare?” at Health Tech Forward.

🤝 Catch the MMV team

Europe’s Q1 will have Max making his way to Riga in February for TechChill and to Barcelona to attend 4YFN, while Alix will attend Pay360 and Fintech Meetup in March, and the Energy Tech Summit in April. In APAC, Carlos will be heading to Consensus in Hong Kong in February and Vivian will be attending Blackhat Asia the first week of April.

We look forward to connecting with you in 2025…be sure to reach out to the team if you’ll be at any of these events.

🎯 More about us

To learn more about MMV Europe & APAC, check out our website, follow our blog on Medium, and follow us on LinkedIn.