Yellow, a pre-seed fund with a European focus, has recently announced that it has secured €30 million in funding. The fund was launched by the founders of Glovo, a popular on-demand delivery platform. This significant investment will enable Yellow to support and nurture early-stage startups across Europe.
Yellow aims to fill the gap in the European startup ecosystem by providing pre-seed funding to promising entrepreneurs. The fund will focus on supporting startups in their initial stages, helping them to develop their ideas and turn them into successful businesses. By offering financial support, mentorship, and access to a vast network of industry experts, Yellow aims to empower entrepreneurs and foster innovation in Europe.
The €30 million funding round was led by Venture Friends, a leading European early-stage venture capital firm. Other notable investors include Glovo’s co-founders Oscar Pierre and Sacha Michaud, as well as several prominent angel investors. This strong backing demonstrates the confidence and belief in Yellow’s mission to support the next generation of European startups.
Yellow’s founders, Oscar Pierre and Sacha Michaud, have a proven track record of success with Glovo. The Barcelona-based startup has rapidly grown into a global on-demand delivery platform, operating in over 20 countries. With their experience and expertise, Pierre and Michaud are well-positioned to identify and support promising startups through Yellow.
The fund will primarily focus on sectors such as e-commerce, marketplaces, SaaS, fintech, healthtech, and proptech. These sectors have shown significant growth potential in recent years and are expected to continue thriving in the future. By concentrating on these areas, Yellow aims to support startups that have the potential to disrupt traditional industries and drive innovation across Europe.
In addition to financial support, Yellow will provide startups with access to its extensive network of mentors and industry experts. This network includes successful entrepreneurs, investors, and professionals who can offer valuable guidance and support to early-stage startups. By connecting startups with the right people, Yellow aims to accelerate their growth and increase their chances of success.
Furthermore, Yellow will also offer a range of resources and services to its portfolio companies. These include legal and accounting support, marketing and PR assistance, and access to co-working spaces. By providing these resources, Yellow aims to alleviate some of the common challenges faced by early-stage startups and enable them to focus on building their businesses.
The launch of Yellow is a significant development for the European startup ecosystem. With its focus on pre-seed funding, the fund fills a crucial gap in the market and provides much-needed support to early-stage startups. By nurturing and empowering entrepreneurs, Yellow aims to drive innovation, create jobs, and contribute to the growth of the European economy.
Overall, the €30 million funding secured by Yellow is a testament to the confidence in its founders and their vision for supporting European startups. With its financial resources, mentorship, and network, Yellow is well-positioned to make a positive impact on the European startup ecosystem and help shape the future of innovation in Europe.
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- Source Link: https://zephyrnet.com/yellow-a-vc-from-the-founders-of-glovo-kicks-off-with-a-e30-million-european-focused-pre-seed-fund-eu-startups/