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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

• Revolut is entering private banking to target high-net-worth individuals with investment and personalized wealth management services.

• Sebastian Siemiatkowski criticized the Swedish financial regulator after Klarna received a $50 million fine for anti-money laundering rule violations.

• Coworking startup Second Home has been saved from collapse through a management-led buyout after entering administration.

• The Netherlands struck a deal with Nvidia to build an AI supercomputing facility aimed at accelerating R&D and digitizing the economy.

• Nyobolt, a Cambridge-based battery maker, warned it could run out of funds by late Q1 2025 after posting a $24.53 million loss in 2023.

💸 Top Funding Rounds

• Verdiva Bio closed a $410 million Series A round led by Forbion and General Atlantic to accelerate the development of weight loss drugs.

• Swiss-based CeQur raised $119.2 million to expand the commercial reach of CeQur Simplicity, a 4-day wearable device simplifying mealtime insulin delivery.

• Ireland's XOCEAN secured $117.75 million to expand its fleet of low-carbon Uncrewed Surface Vessels offering ocean data solutions.

• FIRE1 raised $117.75 million in funding led by Polaris Partners and Elevage Medical Technologies to complete a clinical trial for its heart failure management solution.

• Swedish heat-pump company Qvantum raised $110.59 million in Series C funding to expand production and grow across Europe.

💰️ Notable Exits

• NXP Semiconductors is acquiring TTTech Auto for $625 million to enhance its software-defined vehicle capabilities with TTTech Auto’s software expertise.

• Darktrace is set to acquire Cado Security, a UK-based cloud forensics provider, to enhance its cloud detection and response capabilities.

• Norway's Visma acquired Utrecht-based Your Next Concepts to enhance educational software solutions.

• French AI startup Verteego has been acquired by US retail giant Bamboo Rose to integrate AI into its platform.

• E-commerce software provider JTL-Software acquired Returnless to enhance returns management solutions for online retailers.

🏦 About Investors

• Smartfin closed its third growth fund at $256 million with EIF’s ESCALAR program backing, focusing on scaling Europe’s B2B tech companies.

• Capricorn Partners announced the first close of its $52.22 million Healthtech Fund II, backed by Invest-NL and others, to invest in digital health and medtech startups.

• Superhero Capital has launched its fourth fund with a target of $51.2 million, backed by Elo Mutual Pension Insurance Company and Tesi.

• Defiant, a new European VC firm came out of stealth to focus on B2B SaaS and fintech, with plans to raise $70 million for its first fund.

📊 Investment Highlights

Explore the record-breaking venture capital fundraising landscape in Europe for 2024. From global giants like Index Ventures and Balderton Capital to deep-tech specialists like Innovation Industries, Europe's VC firms are empowering innovation in AI, biotech, and more. With billions raised across diverse sectors, these funds are propelling the next wave of transformative startups. Delve into the full article to discover how these firms are shaping the future of European entrepreneurship and fueling technological advancements across the continent.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Verdiva Bio

Verdiva Bio, a clinical-stage biopharmaceutical company focused on obesity and cardiometabolic disorders, has raised $411 million in Series A funding. Co-founded by Khurem Farooq, the company is advancing innovative oral and injectable treatments, including its lead asset VRB-101, an oral GLP-1 peptide with strong efficacy potential and once-weekly dosing. Verdiva’s pipeline also includes amylin molecules and other programs aimed at enhanced efficacy and sustainable weight loss. The Series A round was co-led by Forbion and General Atlantic, with participation from major investors like RA Capital Management and Lilly Asia Ventures.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Smartfin

Smartfin, a Brussels-based venture and growth capital firm, has closed its third growth fund, Smartfin Capital III, with $256 million in commitments, bringing its total investment portfolio to over $614.36 million. The fund will focus on growth-stage B2B technology companies across Europe. Smartfin has already made its first two investments in CrazyGames, a browser-based gaming platform, and Emma, a multi-cloud management platform. Founded in 2014 by Jürgen Ingels and Bart Luyten, Smartfin has built a strong presence in the European tech ecosystem, with notable investments in companies such as Deliverect, Bright Analytics, and Zivver. The firm’s investment strategy combines venture capital with operational expertise to support high-potential European technology ventures.

 🤑 Opportunity Radar

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