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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

• Klarna has postponed its NYSE IPO due to market conditions but may still list soon at a valuation over $15 billion.

• Isar Aerospace's first rocket test flight ended in a crash after 30 seconds but the startup aims to rival SpaceX with its satellite launch services for Europe.

• Northvolt has laid off over half its staff after filing for bankruptcy in the US and Sweden, with operations continuing in a reduced form.

• Builder.ai has undergone a significant restructuring under its new CEO, cutting 270 jobs and appointing BDO to audit accounts from 2023 to 2027.

• Sweden’s PM Ulf Kristersson urged the EU to boost capital markets to stop European tech firms from choosing US IPOs over staying in Europe.

💸 Top Funding Rounds

• Isomorphic Labs announced the raise of $600 million from Thrive Capital and Google Ventures to advance its AI drug design engine.

• UK-based surgical robotics startup CMR Surgical raised over $200 million to expand its US presence and compete with Intuitive Surgical.

• Zepz secured $165 million in financing to enhance transaction speed, optimize fees, and expand its global remittance services.

• Paris-based Fairmat raised $55.6 million to scale its carbon composite recycling tech, cutting CO2 and costs, with clients like Hexcel and Decathlon.

• Gradyent closed a $30.69 million Series B round to expand its real-time Digital Twin Platform that optimizes heating and cooling grids.

💰️ Notable Exits

• Xconnect has acquired mobile identity leader Sekura.id to enhance its fraud prevention and authentication services.

• Epic Games acquired Loci, an AI platform for 3D asset tagging, to aid creators and detect IP violations in its ecosystem.

• French fintech Next Generation acquired Lugh Financial Services to launch a digital payments ecosystem bridging traditional and digital finance.

• Archax acquired US broker-dealer Globacap PMI to expand its regulated digital asset services into the US market.

• WPP acquired InfoSum to enhance AI-driven marketing with secure data collaboration and real-time campaign optimization across its ecosystem.

🏦 About Investors

• Revaia, Europe’s largest all-women-led VC, closed its $270 million growth fund to invest in European and Israeli B2B startups at Series B and beyond.

• The European Investment Fund and partners backed 33N Ventures to drive cybersecurity innovation and strengthen Luxembourg's tech ecosystem.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Isomorphic Labs

Isomorphic Labs, a London-based AI-driven drug discovery company founded by Demis Hassabis in 2021 and a subsidiary of Alphabet Inc., has secured $600 million in its first external funding round led by Thrive Capital, with participation from GV and continued support from Alphabet. The funding will accelerate the development of its next-generation AI drug design engine—built on breakthroughs like AlphaFold 3—and advance its internal and partnered therapeutic programs into clinical stages. With a growing presence in oncology and immunology, and collaborations with pharma giants like Novartis and Eli Lilly, Isomorphic aims to redefine the future of drug discovery through cutting-edge AI.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Revaia

Revaia, Europe’s largest all-women-led VC, closed its $270 million growth fund to invest in B2B startups in Europe and Israel at Series B and beyond, focusing on sustainability and ESG. Founded in 2019 as Gaia Capital Partners and rebranded in 2021, Revaia is a prominent European venture capital firm specializing in sustainable growth investments, supporting mission-driven entrepreneurs and technology scale-ups. The firm has backed companies like Algolia and Aircall, and plans to invest in 12 companies with ticket sizes ranging from $11-33 million, having already made six investments.

 🤑 Opportunity Radar

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