InReach Ventures Raises $60 million, its biggest Fund Till Date

InReach Ventures, UK-based venture capital has completed its first ever biggest fundraising. In its latest funding, the company raised $60 million (53M Euros).

One of the company’s founders, Robert Bonanzinga stated, the startups from Europe were scattered across the world, therefore new companies were not under the attention of firms in major cities like London and others. 

The company was utilizing AI in order to sift through and assess data, to spot new companies seeking their first institutional investor.  There are many entrepreneurs in regions like Barcelona to Helsinki and From Rome to Warsaw and yet many don’t get noticed at the correct time. 

The company needs to find new methodsthat are different and tailored to catch up with this geographic fragmentation and economic reality. The company can only achieve this through the AI-poweredsoftware-based approach.

Since 2015, the company has invested in eight startups in the European region. Under the company’s investment list, there is Oberlo, a marketplace startup in Lithuania which was taken over by Shopify.

The fund, with typical investments of 5 Lakh to 2 million euros, was earmarked for startups in SaaS, consumer internet and other marketplaces.

Incorporated in 2015, InReach Ventures seeks for new startups in the European sub-continent.The company’s co-founders are Roberto Bonanzinga and John Mesrie. The company took three years to successfully create its own AI technology. The new AI technology helped the technology to boost, discover and asses its investments.