Kembara closes €750M first close to fuel growth of European deep tech startups
Europe's burgeoning deep tech sector is set to receive a significant boost with the first close of the Kembara Fund I at an impressive €750 million. This substantial capital infusion, spearheaded by Spain-based Mundi Ventures, aims to reach a €1 billion target and underscores a strategic effort to bolster European innovation in critical technology areas. The fund's focus on deep tech, encompassing fields like clean energy, AI, quantum computing, and space tech, highlights a commitment to fostering foundational advancements that can shape future industries. A key element enabling this significant first close is a €350 million commitment from the European Investment Fund, a move that aligns with the EU's broader strategy to enhance local growth capital availability. This injection of public and private funding will directly support European companies developing groundbreaking technologies, fostering a more robust and self-sufficient deep tech ecosystem. Such initiatives are crucial for Europe to maintain a competitive edge and achieve greater digital sovereignty in rapidly evolving global markets. The impact of Kembara Fund I will be felt across a spectrum of emerging technology companies, providing them with the essential capital to scale and innovate. By targeting capital-intensive deep tech sectors, the fund addresses a critical funding gap, empowering European startups to compete on a global stage and potentially reduce reliance on non-European investment. This dedicated focus is expected to accelerate the development and deployment of transformative technologies originating from the continent.
Curated and translated by Europe Digital for our multilingual European audience.
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