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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

• Ledger co-founder David Balland and his wife were freed after being kidnapped for a crypto ransom, with police seizing most of the funds.

• HSBC is shutting down its fintech app Zing just a year after launch as part of its simplification strategy, marking another failed bank-led fintech venture.

• The UK government is planning to increase procurement from homegrown startups, aiming to foster innovation and improve government-tech relations.

• Mosa Meat, the Dutch cultured beef startup backed by DiCaprio, filed its first application for EU market approval under the Novel Foods Regulation.

• Marc Simoncini’s electric bike startup Angell is shutting down due to persistent manufacturing issues, a major recall, and financial troubles.

💸 Top Funding Rounds

• German fintech Bees & Bears secured $525 million to support sustainable energy installations, offering private customers installment payment options.

• Daniel Ek’s Neko Health closed a $260 million Series B round led by Lightspeed to expand its clinics across Europe and enter the US market.

• UK-based energy efficiency startup Domna raised $87.39 million in a debut round led by Leon Capital.

• Fundment raised $56.18 million in a Series C funding round to enhance its platform for financial advisers.

• Vertice secured $50 million in a Series C round led by Lakestar to expand its AI-powered SaaS spend platform helping companies save up to 30%.

💰️ Notable Exits

• French fintech Younited went public on the Paris Stock Exchange raising $159.60 million through a SPAC deal with Iris Financial.

• ABB announced its acquisition of Sensorfact, an energy management firm that helps manufacturers digitalize operations and reduce waste.

• Pro4all acquired STA Software to enhance its position as a leading European construction software provider.

• Zencity acquired Commonplace to enhance its community engagement platform with AI, social listening, and analytics capabilities.

• xPortal acquired Berlin-based Web3 startup Alphalink to enhance its crypto and AI platform.

🏦 About Investors

• Cyprus-based VC firm 33East closed its $27.30 million inaugural fund to invest in pre-seed and seed-stage startups with a connection to Cyprus.

• QDNL Participations secured $26.25 million for the first close of its new quantum-focused fund targeting $63 million to invest in global quantum startups.

• Lisbon-based AgileGTM Blockchain Fund announced the first close of its $10.08 million fund to back global B2B blockchain startups.

• Andreessen Horowitz is closing its UK office to refocus on the US crypto market following Trump's election and new pro-crypto policies.

• French investor Jean De La Rochebrochard joined US-based VC Cassius as a partner to deploy its third fund while maintaining his role at Kima Ventures.

📋️ Curated Lists

Bulgaria's venture capital scene is thriving, with top VC firms fueling innovation across fintech, deep tech, and sustainability. From Eleven Ventures’ expansive portfolio to Neo Ventures’ strategic bets, these investors are shaping the country’s startup success stories. Curious about the key players driving Bulgaria’s entrepreneurial future? Delve into the full article to explore the most active VC firms making an impact!

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Neko Health

Swedish healthtech startup Neko Health, co-founded in 2023 by Daniel Ek, the founder of Spotify, and Hjalmar Nilsonne, has raised $260 million in a Series B funding round led by Lightspeed Venture Partners, with participation from General Catalyst, Atomico, Lakestar, and others. This investment values the company at $1.7 billion. Neko Health specializes in preventive healthcare through AI-driven body scanning technology that detects early warning signs of diseases, covering cardiovascular, metabolic, and skin health. Since launching its first clinic in Stockholm, it has scanned over 10,000 individuals, with 100,000 more on its waiting list. The new funding will fuel global expansion, including opening clinics across Europe and entering the U.S. market, while advancing its research and development efforts to bring innovative preventive solutions to healthcare.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

33East

Cyprus-based venture capital firm 33East has closed its $27.30 million inaugural fund to invest in pre-seed and seed-stage startups with a connection to Cyprus, aiming to drive innovation and entrepreneurship in the Mediterranean region. Co-founded by Demetrios Zoppos and Yiannis Eftychiou, 33East is the first VC fund in Cyprus to receive backing from the European Investment Fund, alongside support from the Government of Cyprus, the National Recovery and Resilience Fund, the Bank of Cyprus, and private investors. The $27.30 million first close includes $19.95 million from the Cyprus Equity Fund and $7.35 million from private investors, with $2.10 million contributed by the Bank of Cyprus. The fund will provide initial investments ranging from $525,000 to $1.05 million per company and allocate $2.63 million to an acceleration compartment for early-stage entrepreneurs.

 🤑 Opportunity Radar

Call for Applications: The Energie AG Oberösterreich Startup Challenge

Apply to the Energie AG Oberösterreich Startup Challenge by January 01, 2025, and drive the future of sustainable energy. This challenge offers startups the chance to tackle real industry problems, access extensive data and expert mentorship, and secure up to $50,000 in funding for a Proof of Concept or MVP. The program seeks innovative solutions in energy optimization, data integration, and decarbonization, with the potential for long-term collaboration. Join the mission to accelerate the energy transition and shape a greener tomorrow.