Eindhoven-based LUMO Labs has announced the launch of its new €100 million fund, the LUMO Rise Fund. This fund aims to invest in 30 to 35 impact-driven startups across Europe, focusing on the development and application of emerging digital technologies to create a greener and stronger society.
The LUMO Rise Fund enhances LUMO Labs’ investment approach by integrating physical and digital realities in society. It provides additional capital for regional diversification and follow-on financing to maximize financial, social, and environmental returns on investments.
In an interview with Silicon Canals, Andy Lürling, Founding Partner of LUMO Labs, outlined the startup selection criteria: “We assess if the startup aligns with our tech and SDG focus, addresses major issues related to our prioritized UN SDGs, and shows potential in market and technology stage. We also consider the team’s coachability as we offer a supportive coaching program.”
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Focus Areas and Technologies
The LUMO Rise Fund will target startups developing cutting-edge digital solutions to tackle pressing challenges in:
- Good Health and Well-being (SDG 3)
- Quality Education (SDG 4)
- Sustainable Cities and Communities (SDG 11)
- Climate Action (SDG 13)
- Digital Security
These startups will leverage technologies like the Internet of Things, Virtual and Augmented Reality, Blockchain, and AI to address societal, economic, and environmental challenges.
Dagmar van Ravenswaay Claasen, Senior Partner at LUMO Labs, emphasized the dual focus on financial returns and sustainable impact: “Our investments must contribute to our specific sustainable development goals from the outset. We provide continued support to ensure our portfolio aligns with our impact focus.”
Supporting Startup Growth
Upon receiving investment, startup founders will join the LUMO coaching program, which includes guidance from third-party experts and experienced entrepreneurs to maximize economic value creation in line with the fund’s impact goals.
Lürling highlighted the importance of measuring social and environmental impact: “Pre-investment, we ask founders for their impact statement. Together, we define quantifiable Key Value Indicators (KVIs) that we monitor over time.”
Regional Diversification
With the new fund, LUMO Labs plans to seek startups from outside the Netherlands, Belgium, and Germany, including Scandinavia, the Baltic States, Spain, and Portugal. Lürling acknowledged the challenges of regional diversification but emphasized the team’s proactive approach in building networks and gaining insights over the past four years.
Strengthening the Ecosystem
The fund has already secured capital from financial institutions, family offices, high-net-worth individuals, and Dutch regional development agencies. LUMO Labs previously invested in 23 impact-driven tech and deeptech startups through its first fund, including Alphabeats, Aiosyn, Autoscriber, chunkx, Enliven, Healthpus.ai, and Hulo.
Lürling concluded, “AI can accelerate the identification of sustainable solutions to achieve the UN SDGs targets, having a positive societal and environmental impact. We need to investigate technologies that can solve societal and environmental challenges and allocate public funds accordingly.”
With this new fund, LUMO Labs is poised to continue supporting impactful startups and driving innovation in sustainable technology across Europe.
