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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

• The European Union unveiled a new "competitiveness compass" strategy aimed at boosting innovation and enhancing security.

• Insect protein scaleup Agronutris is facing potential insolvency due to funding challenges just four months after competitor Ÿnsect reported similar difficulties.

• The UK announced plans to transform Oxford and Cambridge into Europe’s Silicon Valley by enhancing infrastructure and attracting tech talent.

• Dutch chip manufacturers presented a $752.56 million innovation program to the government with the goal of strengthening the country’s global position in the industry.

• Nearly 80% of tech companies are considering secondary share sales in 2025 according to a report by Ledgy as IPO and M&A exits remain limited.

💸 Top Funding Rounds

• TravelPerk closed a $200 million Series E round at a $2.7 billion valuation to fuel its expansion in the United States.

• ElevenLabs raised $180 million in Series C funding at a $3.3 billion valuation to compete with companies like OpenAI in text-to-speech technology.

• Alice & Bob closed a $104 million Series B round led by Qatar Investment Authority to advance its cat qubit technology for scalable quantum computing.

• Quibim secured $50 million in Series A funding led by Asabys and Buenavista to expand its AI-powered imaging biomarkers for precision medicine.

• Swan raised $43 million in Series B funding to scale embedded banking across Europe, planning to expand in key markets and hire 85 new employees.

💰️ Notable Exits

• BioVersys is set to go public on February 7, targeting $81.84 million in proceeds from its IPO to fund its lead antibacterial asset BV100 and its pipeline.

• TravelPerk acquired Yokoy for an all-equity deal, aiming to integrate travel and expense management.

• Nazara's subsidiary Nodwin Gaming acquired Ukrainian esports platform StarLadder for $5.5 million with a mix of cash and equity.

• Lemfi acquired Irish currency exchange platform Bureau Buttercrane, securing regulatory approval to expand across the European Economic Area.

• Germany’s SICK acquired Dutch startup Accerion, specializing in AI-based positioning tech for mobile robotics, to enhance its sensor solutions portfolio.

🏦 About Investors

• Paris-based Shift4Good closed its first fund at $225.24 million, exceeding its target, to invest in decarbonising transportation with tech-driven solutions.

• Lita, an impact investment platform, launched its own fund aiming to raise $61.43 million having already secured $25.26 million.

• London-based 1991 Ventures secured investment from Allocator One to boost its $18.46 million fund focused on Ukrainian and CEE startups.

• Amsterdam-based Borski Fund raised $9.21 million from M&G Investments to address the funding gap for women-led startups.

• NextSTEP, a London-based VC fund, is set to invest $1.64 million in 16 CleanTech startups in 2025, focusing on renewable energy and sustainable mobility.

📋️ Curated Lists

Discover Kazakhstan's dynamic venture capital landscape, where firms like Activat VC, Most Ventures, and Techgarden Ventures are fueling the growth of innovative startups. These key players are not just investing in early-stage companies but are also shaping the country's position as a regional tech hub. Want to know which VC firms are making the biggest impact? Delve into the full article to explore the leaders, their standout portfolio companies, and how they're driving Kazakhstan's startup ecosystem forward.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

TravelPerk

TravelPerk, founded in 2015 by Avi Meir, Javier Suarez, and Ron Levin, is a Barcelona-based travel management startup offering a platform for managing business travel, including booking and expense tracking. The company, with over 1,500 employees, has raised $200 million in a Series E round, reaching a $2.7 billion valuation to accelerate its US expansion. The round, led by Atomico and featuring investors like Sequoia Capital, EQT Growth, General Catalyst, and Kinnevik, also saw TravelPerk acquire Swiss expense processing company Yokoy, which was named the fastest-growing startup by revenue in Central Europe, while reporting $200 million in annualized revenue with 50% growth over the past two years.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Shift4Good

Shift4Good, a Singapore and Paris-based impact investment fund founded in 2021 by Yann Marteil, Matthieu de Chanville, Sébastien Guillaud, and Thierry de Panafieu, has successfully closed its first fund at $230 million, exceeding its fundraising target. The fund, launched to decarbonize the transportation sector, focuses on Series A and B investments in startups across rail, road, air, and maritime sectors, with ticket sizes ranging from $4.1 million to $20.54 million. Backed by major investors such as Renault Group, BNP Paribas, and the European Investment Fund, Shift4Good has already invested in 13 companies across Europe and Southeast Asia, supporting innovative solutions in fleet electrification, micromobility, hydrogen technologies, and battery circularity. The fund aims to expand its portfolio to 25-30 companies, helping drive sustainability in transportation while tackling the global climate crisis.

 🤑 Opportunity Radar

Call for Applications: Nordic Open Innovation Challenge 2024

Apply to the Nordic Open Innovation Challenge 2024 by February 17, 2025, and collaborate with leading Nordic corporations to drive innovation in quality control and sustainability. Open to startups and SMEs, this challenge offers over $35,000 in grants and funding support, mentorship, and co-development opportunities. Shortlisted participants will engage with industry leaders and gain access to state-of-the-art facilities to refine their solutions. Don’t miss your chance to contribute to building a more sustainable future. Submit your proposal today!