Plural, an investment group targeting early-stage tech startups, has announced a new €400m (£342.5m) fund.
The group was launched in 2022 by founders and early employees from Wise, Skype, Songkick and others. The investment organisation is based on the idea that startup founders and operators are the best positioned to support the next generation of tech companies.
Now, 18 months after the launch of its debut €250m fund, Plural has returned with fresh capital to expand its footprint on the European tech investment scene.
Since its launch, Plural has backed prominent startups such as legal tech company Robin AI, content moderation firm Unitary AI and carbon removal group Isometric.
In total, Plural has made 26 investments to date, with a particular focus on AI and climate tech startups.
The London and Tallinn-based group targets early-stage companies in high-growth sectors with investments ranging from £856,000 to £13m.
“We’re galvanised by the trust founders have placed in us to support them on their journeys tackling serious problems from developing clean energy that will save the planet to making the internet safer,” said Plural partner Carina Namih.
Taavet Hinrikus, Wise co-founder and former CEO and Plural partner, added: “Founders tackling major world problems through technology are exactly the types of companies we are backing at Plural.
“By supporting the most ambitious founders with our hard-won experience, we’re determined to build enduring global companies that will have a GDP-level impact and be transformative for economies and society.”
The Plural team also includes Ian Hogarth, an entrepreneur and chair of the government’s AI taskforce.