Hello there,

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 🌍

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Ready? Let’s get right into it.

📰 Important News

• AI talent war intensifies with ElevenLabs hiring ex-Palantir engineers and Microsoft onboarding Haiper’s co-founders.

• Norwegian robotics startup 1X is planning to test its humanoid robot Neo Gamma in hundreds to thousands of homes by 2025.

• Oxa partnered with Nvidia to use its Cosmos platform for synthetic data generation, accelerating the development and deployment of self-driving tech.

• US defense tech company Anduril is planning to open a factory and R&D center in the UK to manufacture drones and autonomous weapons.

• Klarna is closing three offices in Amsterdam, Mannheim, and Columbus as part of a cost-cutting strategy ahead of its IPO.

💸 Top Funding Rounds

• HR unicorn Factorial secured $120 million from General Catalyst’s non-dilutive Customer Value fund to boost its sales and marketing efforts.

• Maxion Therapeutics closed a $72 million Series A round to develop antibody-based drugs for ion channel and GPCR-driven diseases.

• Spanish startup Playtomic raised $60 million in equity and a $10.9 million loan to expand its racket sports court booking platform.

• Evroc secured over $54.5 million in the largest tech Series A in the Nordics to accelerate growth and AI infrastructure development across Europe.

• DRUID AI is finalizing a $50 million Series C round led by Cipio Partners to expand its AI-driven business communication solutions.

💰️ Notable Exits

• Munich Re acquired insurance tech company Next Insurance for $2.6 billion, integrating it into its ERGO unit.

• UK-based neobank OakNorth acquired US Community Unity Bank in an all-share deal to expand its SME lending business in the US.

• SER Group acquired Klippa to enhance its AI-powered content automation capabilities, merging Klippa’s IDP solutions with SER’s Doxis platform.

• AstraZeneca has entered into a definitive agreement to acquire EsoBiotec, a biotechnology company pioneering in vivo cell therapies.

• Coalesce acquired CastorDoc to integrate AI-driven metadata management into its data transformation platform.

🏦 About Investors

• 2150 has raised $214.8 million for its second fund to invest in startups focused on resilient construction and transport electrification.

• Adara Ventures announced the first close of its $108.7 million AV4 Fund, targeting investments in cybersecurity, AI, digital health, space, and more.

• Elbow Beach secured $81.7 million for its second Climate Impact Fund to support early-stage UK startups focusing on climate tech.

• THENA Capital announced the first close of its $64.8 million fund at $35 million to support early-stage British medtech startups.

• Hexa raised $31.6 million in funding to launch 13 new startups in 2025, aiming for 30 startups annually by 2030.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Factorial

Barcelona-based HR unicorn Factorial is an all-in-one HR software solution designed for small to medium-sized businesses (SMBs). Founded in 2016 by Jordi Romero, Bernat Farrero, and Pau Ramon Revilla, Factorial automates and centralizes HR tasks, helping businesses streamline processes and make data-driven decisions. The company became Europe’s newest unicorn in 2022 after closing a $120 million Series C investment round, reaching a $1 billion valuation. This funding has fueled its expansion in Spain and strengthened its presence in European and American markets. With approximately 800 employees, Factorial is committed to transforming workplaces by automating administrative tasks and fostering a people-first culture, positioning itself as a key player in the competitive HR tech space.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

2150

London-based venture capital firm 2150, part of Urban Partners and founded in 2019 by Christian Hernandez, Jacob Bro, Mikkel Bülow-Lehnsby, and Christian Jølck, has raised $214.88 million for its second fund to invest in startups developing sustainable urban solutions, including resilient construction materials and transport electrification. The firm focuses on making cities more efficient, resilient, and sustainable by backing technology companies in sectors like climate tech, construction, and transportation. The fund will support 20 Series A and B companies across Europe and the US, writing cheques of $3.2 million to $16.3 million while reserving half for follow-on investments. With a focus on impact-driven metrics like carbon reduction and water savings, 2150 has already backed companies such as Metycle, Mission Zero Technologies, and AtmosZero to drive innovation in sustainable infrastructure.

 🤑 Opportunity Radar

Call for Applications: the Techstars Tokyo Accelerator

Apply to the Techstars Tokyo Accelerator by May 14th, 2025, and elevate your startup on the global stage. This sector-agnostic program supports entrepreneurs in Deeptech, Fintech, Cleantech, and Climatetech, providing access to a world-class ecosystem, mentorship, and investor connections. If you’re an international startup looking to target Japan or find local business partners and talent, this program is for you. Powered by Mitsui Fudosan and JETRO Startup, in collaboration with the Cabinet Office, METI, and the Tokyo Metropolitan Government, the accelerator kicks off on August 18th, 2025, with Demo Day on November 11th. Start your application today and join a vibrant global network of innovators in Tokyo!