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Moonfire closes $115M round: A spotlight on 5 notable investments by VC embracing AI

Moonfire Ventures team
Photo credits: Moonfire Ventures

Moonfire Ventures, a London-based venture capital (VC) firm, has successfully closed a $115 million fund to support early-stage European startups. This fund, called Fund II, follows the firm’s previous $60 million Fund I raised in 2021. Moonfire Ventures is embracing the transformative power of artificial intelligence (AI) in reshaping the landscape of tech companies. By leveraging AI, Moonfire Ventures aims to enhance access, efficiency, and product quality, while revolutionising opportunities for founders in the startup ecosystem.

Taking a unique approach that combines human expertise with cutting-edge technology, Moonfire Ventures employs proprietary machine-learning models and software across the entire VC value chain. This approach enables them to tackle challenges faced by founders with greater knowledge and speed, transforming the venture capital landscape.

Mattias Ljungman, Managing Partner at Moonfire Ventures, emphasised their commitment to supporting founders in the early stages of their entrepreneurial journey. Europe, recognised as a leader in AI, provides a fertile ground for Moonfire Ventures to back the next generation of founders addressing key challenges in areas such as health, work, finance, and gaming.

Moonfire Ventures’ partner and computer scientist, Mike Arpaia, emphasised the power of combining AI and VC, propelling their partnership to new heights. By leveraging AI to handle repetitive tasks, Moonfire Ventures can focus on what humans excel at—building strong relationships with founders and providing valuable guidance.

Highlighted investments by Moonfire Ventures

Humaans: HRtech startup Humaans secured $15 million in Series A funding in 2021, with Moonfire Ventures participating as one of the investors. Humaans offers an employee management platform that centralises employee data and streamlines people operations for organisations.

Lightdash: In 2022, the business intelligence platform, raised $8.4 million in funding led by Accel, with participation from Moonfire Ventures. The open-source Lightdash platform simplifies data integration, enabling businesses to gain clearer insights from their data.

GOALS: The Sweden-based multiplayer-first football game, announced a $15 million seed round led by Northzone, with Moonfire Ventures among the investors. GOALS incorporates environmentally friendly blockchain technology, allowing true digital ownership of in-game assets.

Mindstone: The edtech platform from London, received £1.45 million in funding from Moonfire Ventures in 2021 through a crowdfunding campaign. Mindstone redefines online education, facilitating faster learning and better retention through a wide range of topics and a user-friendly platform.

Claimer: The London fintech Claimer got $4.2 million in seed funding, led by Project A Ventures, with participation from Moonfire Ventures. Claimer simplifies the process of claiming financial incentives from the government, removing inefficiencies in R&D tax credits and grant applications.

Moonfire Ventures’ AI-driven approach enables them to review a staggering number of companies each week, seeking out the most promising European founders. By utilising next-level technologies like AI, Web3, and AR/VR, Moonfire Ventures aims to transform key sectors, including health, work, finance, and gaming.

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