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Welcome to another edition of 🔍 Startup Researcher - Europe, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍

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📰 Important News

• Checkout.com’s losses surged 73% to $306 million in 2023 due to a revenue drop from severing ties with a major merchant likely Binance.

• German air taxi firm Volocopter has filed for insolvency after struggling to secure funding despite growth and recent fundraising efforts.

• French fintech Aria, specializing in invoice financing for SMEs, is expanding across Europe with the UK as its largest market.

• Ebusco announced layoffs of 102 FTEs to align with its Turnaround Plan, focusing on cost reduction and shifting to the OED model.

• French food delivery startup Epicery is closing after facing economic challenges, including inflation and competition, despite raising outside capital.

💸 Top Funding Rounds

• Swave Photonics closed a $27.8 million Series A round to advance its Holographic eXtended Reality technology.

• Berlin’s Apheris raised $20.8 million in Series A funding to scale its federated computing technology for secure data collaboration.

• Jentic raised $4.12 million in pre-seed funding to develop an integration layer for AI agents, aiming to connect AI systems with other software.

• Accountable secured $2.3 million in seed funding led by MitonC and Zee Prime Capital to revolutionize crypto lending and DeFi.

• Amsterdam-based Ver.iD obtained $2.06 million angel funding to expand its digital identity SaaS platform across Europe.

💰️ Notable Exits

• CUBE, a London-based RegTech firm, acquired Thomson Reuters Regulatory Intelligence and Oden businesses, expanding its customer base to 1,000.

• Allwyn acquired a 51% stake in Novibet for $223.46 million to enhance its technological and online gaming capabilities.

• EssilorLuxottica has acquired Pulse Audition, a French AI-driven tech startup specializing in noise reduction and voice enhancement.

• Zebra Technologies acquired Photoneo to enhance its machine vision and robotics portfolio, aiming to address complex frontline workflows

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Swave Photonics

Swave Photonics, a Belgian fabless semiconductor company founded in 2022 by Dmitri Choutov and Theo Marescaux, has secured $27.8 million in Series A funding, bringing its total to over $38.1 million. The company specializes in Holographic eXtended Reality (HXR) technology, which delivers high-resolution 3D holographic displays for augmented reality. Swave's innovative solutions address key AR challenges, including cost, size, and user discomfort, by eliminating expensive components. The funding round was co-led by imec.xpand and SFPIM Relaunch, with support from other investors. The capital will accelerate Swave's product development and market introduction.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Index Ventures

Since there are no notable VC moves this week, we’ve decided to crown the Investor of the Year instead, and the title goes to Index Ventures. In 2024, Index Ventures raised a staggering $2.3 billion across two funds: $1.5 billion for its 12th growth fund and $800 million for its 7th venture fund. Known for its strategic focus on AI, Index was an early supporter of groundbreaking companies like UK neobank Revolut and French OpenAI challenger Mistral. Although the fresh funds fell slightly short of the $2.9 billion raised during the 2021 VC boom, the firm remains a dominant force in the ecosystem, even as it strategically slows deployment. With offices spanning London, Geneva, and San Francisco, Index Ventures continues to shape the future of European startups.

 🤑 Opportunity Radar

Call for Applications: Y Combinator Spring 2025

Apply to the Y Combinator Spring 2025 Batch by February 11th, 2025 to join one of the world’s most prestigious startup accelerators. The batch, held in San Francisco from April to June 2025, offers access to $500,000 in funding, top-tier mentorship, networking opportunities, and a vibrant community of founders. Participants will work closely with experienced YC General Partners, attend weekly meetups, and gain insights from renowned startup leaders like the founders of Airbnb and Stripe. Don’t miss the chance to secure funding and accelerate your startup journey—apply now and unlock lifelong connections within YC’s powerful alumni network.