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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 Commission announced InvestAI, a $206.25 billion initiative to fund AI development, including the establishment of four AI gigafactories.

• 60 countries signed the Paris AI declaration for inclusive and sustainable AI, but the US and UK refused, citing concerns over excessive regulation.

• AI defence tech startup Helsing has unveiled its first German factory to produce 6,000 autonomous strike drones for Ukraine.

• Mistral AI is investing billions to build its own data center, reducing reliance on US tech giants and leveraging the country's low-carbon energy mix.

• Northvolt has extended its cash runway through further cost-cutting but urgently seeks new financing while selling off non-core assets to survive.

💸 Top Funding Rounds

• FINN secured up to $1.05 billion in ABS financing to expand its vehicle fleet, strengthen its presence in Germany, and accelerate growth in Europe.

• Konecta raised $156.3 million in funding to accelerate its Katalyst 2028 plan, targeting $2.62 billion in revenue by 2028.

• Revving secured $133.12 million, including $124.4 million in debt funding led by DWS, to tackle long payment terms in UK adtech.

• Tines closed a $123.9 million Series C round led by Goldman Sachs and SoftBank at a $1.05 billion valuation to enhance AI integration and automation.

• AppliedAI raised $55 million in Series A led by G42 at a $300 million valuation to enhance AI-driven medical billing and insurance claims processing.

💰️ Notable Exits

• NXP Semiconductors acquired Kinara for $307 million to enhance its edge AI capabilities, integrating NPU technology for industrial applications.

• Unilever is set to acquire refillable personal care brand Wild for $286.16 million, attracted by its premium positioning and sustainability focus.

• Appier announced the $38.7 million acquisition of AdCreative.ai to expand its Generative AI-powered advertising and marketing solutions.

• Ageras acquired Danish SaaS firm Storebuddy to expand into e-commerce, enhancing its accounting software offerings for European small businesses.

• Bio-Rad announced a binding offer to acquire Stilla Technologies, enhancing its digital PCR portfolio with next-generation solutions.

🏦 About Investors

• Belgium’s Junction Growth Investors closed its first fund at $118.59 million to back European SMEs scaling energy transition solutions.

• Antler has closed its $103.7 million Nordic fund, with a strong focus on Finland, backed by investors like Tesi and SmartCap.

• Nordic VC firm FSG closed its $77.78 million Fund II, backed by EIF and Saminvest, to invest in early-stage life science and tech startups.

• Barcelona-based VC Nina Capital reached the first close of its $51.62 million third fund to invest in 25 early-stage healthtech startups.

• The European Investment Fund invested $41.48 million in ISALT’s Fonds Stratégique des Transitions, bringing it closer to its final closing target.

📊 Investment Highlights

Portugal’s startup scene is making waves with record-breaking funding rounds in 2024. From EV charging networks to AI-driven retail, these startups are securing major investments to scale globally. Want to know which companies are leading the charge and how their leadership is driving innovation? Delve into the full article to explore the most significant tech funding rounds in Portugal and the visionaries behind them.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

FINN

Munich-based car subscription platform FINN has secured up to $1.05 billion in its second Asset-Backed Security (ABS) financing program, backed by Citi, Jefferies, and Avellinia Capital. This funding will enable FINN to expand its vehicle fleet, strengthen its presence in Germany, and accelerate growth across Europe, reinforcing its position in the mobility market. Founded in 2019, FINN offers an all-inclusive subscription service covering insurance, financing, registration, and maintenance for over 30 car brands, including electric and hybrid models, while actively offsetting its vehicles' carbon footprint through climate protection projects. With ABS II in place, FINN is well-positioned to scale operations, enhance customer experience, and further disrupt the car ownership model in Europe.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Junction Growth Investors

Belgium-based Junction Growth Investors has closed its first fund at $118.59 million to support European scale-ups driving the energy transition, with backing from institutional investors, family offices, and technology entrepreneurs. Founded in 2022 by Bruno Vanderschueren, Pieter-Jan Mermans, Dirk Dewals, and Vincent Gregoir, the firm focuses on grid-enhancing technologies, energy management, and industrial decarbonization, deploying equity investments of up to $15.73 million per deal. Its portfolio includes Ampacimon and Eneida, which specialize in grid technology, as well as Eturnity and EET, which advance digital solutions for renewable energy and battery storage. With strong financial backing and a clear sustainability mission, Junction Growth Investors aims to accelerate Europe’s shift toward a low-carbon economy.

 🤑 Opportunity Radar

Call for Applications: AI First - Google for Startups Accelerator

Apply to the AI First Accelerator in the United Kingdom by February 21, 2025, and take your AI startup to the next level. This 12-week equity-free program, designed for Seed to Series A startups, provides access to Google’s cutting-edge products, expert mentorship, and strategic support to scale your business. Participants benefit from technical deep dives, networking opportunities with VCs, and up to $350,000 in Google Cloud credits. The hybrid program kicks off in April 2025, leading up to a Demo Day and graduation in July. Don’t miss the chance to join a cohort of top AI innovators—apply now!