So far this year, international venture capital firm, Antler, has invested in 58 startups across seven countries.
The companies funded represent over twenty sectors, ranging from fintech and deep tech to food delivery and gaming. 43% of these companies have at least one female co-founder. This activity brings the total amount invested by Antler since launch to $25m.
This impressive activity comes in spite of the coronavirus pandemic has brought about widespread lockdown, and a reported slowdown in venture capital activity, especially at the early stage. The companies that have received funding were founded across seven cities: London, Singapore, Stockholm, Amsterdam, Nairobi, Oslo and Sydney.
The invested companies were formed through Antler, which operates in eleven cities around the world. Antler’s cohorts usually run ‘in person’, but the Antler team responded quickly to the changing circumstances, introducing virtual solutions and increased functionality on its digital hub for its founders.
Antler also launched the “COVID-19 Initiative”, which will invest in up to five startups that are working on ideas that respond to the impact of COVID-19. Antler has received over 2,000 applications in just a few weeks since announcing the initiative and is currently in the process of choosing the companies in which to invest.
Additionally, sixteen existing portfolio companies are developing technology solutions that address different aspects of the crisis. For example, New York-based Within Health is offering free access to primary care licensed physicians through their telehealth platform, so those affected by the disease can check in without having to visit a medical facility.
Magnus Grimeland, Founder and CEO of Antler, comments “We’re incredibly pleased with what all of our founders have achieved during this time. We want to work with founders that show grit, determination and the ability to adapt to unpredictable situations. For so many of the founders to start and build impressive companies during these unusual times, was an awesome thing to witness. They showed themselves to be true entrepreneurs, and real leaders. I’m also very proud of the Antler team, who moved with incredible speed and agility to transform our programmes into fully remote offerings where needed.”