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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 🌍

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Let's delve into the core sections of our weekly newsletter:

• 📰 Important News

• 💸 Top Funding Rounds

• 💰️ Notable Exits

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🚀 Startup of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Klarna has sold its online checkout service for about $515 million to a consortium led by Kamjar Hajabdolahi of BLQ Invest, alongside Ashkan Pouya and Martin Randel.

• UK fintech Revolut achieved record profits in 2023, reporting a pre-tax profit of £438 million ($561.29M) compared to losses of £25 million ($32.04M) the previous year.

• The European Commission announced that its preliminary investigation suggests Meta's "pay or consent" option for Facebook and Instagram users in Europe violates the Digital Markets Act.

• Greek authorities have granted German startup OroraTech a €20 million ($21.66M) contract to develop a satellite-based wildfire early warning system, following €2 billion ($2.17B) in fire damages last year.

• The European Commission sent Amazon a new request for information regarding its compliance with EU digital services rules, focusing on recommender systems, ad transparency, and risk assessment measures.

💸 Top Funding Rounds

• Copenhagen's Kvantify, a startup specializing in quantum software, has announced securing €10 million ($10.83M) in a seed funding round led by Danish venture capital firm Dreamcraft.

• Berlin-based deeptech startup alcemy has obtained $10 million in funding led by Norrsken VC to develop and expand its solution for decarbonizing cement production processes.

• Cartken, a robotics navigation software startup with German roots, has secured $22.5 million in total funding, in aggregate funding with the latest $10 million financing round.

• Spanish startup Citibox secured €80 million ($86.85M) in debt funding from Growth Credit Partners and CoVenture to expand its smart mailbox network across Spain.

• Tallinn-based agri-climate tech startup eAgronom has raised €10 million ($10.83M) in its Series A2 round, combining €4.2 million ($4.55M) from a previous booster round and €5.8 million ($6.28M) newly raised this year.

💰️ Notable Exits

• Rotterdam's Ciphix, a hyper-automation specialist, has acquired Limburg startup Bizzomate, advancing its goal to lead Europe in hyper-automation.

• France's HomeCamper and the Netherlands' Campspace have merged to form Europe's largest network of private camping spots and acquired Germany's Camperland, adding over 1,000 hosts to their network.

• German digital tax platform Taxfix has agreed to acquire UK-based TaxScouts, a company offering accountant-assisted digital tax filing services.

• Swiss SaaS company Squirro, specializing in generative AI and business insights, has acquired Synaptica, a US-based provider of enterprise taxonomy management and knowledge graph systems.

• Berlin's CYCLE, a mobility service provider, has bought Dutch e-bike delivery leader Ebike4Delivery, strengthening its European market position while retaining Ebike4Delivery's brand, services, and production in Nijmegen.

🏦 About Investors

• Seaya, a Madrid-based venture capital firm, has launched Seaya Andromeda, Southern Europe's first Article 9 climate-tech fund, raising €300 million ($324.92M).

• Polestar Capital’s Circular Debt Fund (PCDF) in Hilversum has secured €43 million ($46.57M) to support Dutch circular SMEs, with €30 million ($32.49M) from the European Investment Fund and €13 million ($14.08M) from Realdania, Oost NL, and Polestar Capital.

• Tallinn's SmartCap Venture Capital Fund has invested €5 million ($5.41 M)  in Antler's Nordic Fund II, which received anchor investments from Danish EIFO and Finnish Tesi.

• Forestay Capital, established by B-FLEXION, has announced the successful closure of its second investment fund, Forestay Capital II ILP, with $220 million in commitments.

📈 Deep Dive Bites

European startups experienced remarkable growth in the first half of 2024, with funding soaring 102% year-over-year to $54.42 billion across 1,936 deals. Major rounds like Abound's and Wayve's $1.02 billion each, along with billion-dollar exits such as Novo Nordisk's acquisition of Cardior, underscore the ecosystem's strength. This surge in activity cements Europe's position as a leading hub for innovation and investment.

Dive into the full article to explore the top deals, notable exits, and key trends shaping Europe's thriving startup landscape.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Revolut

In 2023, Revolut reached an unprecedented $545 million profit, fueled by a 95% revenue surge to $2.2 billion. The fintech's success is attributed to its diversified revenue streams and strategic initiatives, including the launch of new products and market expansion. Since its inception in 2015, Revolut has specialized in mobile banking, card payments, money remittance, and foreign exchange. Its offerings include a pre-paid debit card, currency exchange, and peer-to-peer payments. The company has raised over $1.7 billion in funding including a $800 million Series E in 2021 led by Softbank Vision Fund and Tiger Global Management.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

SEAYA

Seaya, a Madrid-based venture capital firm, has launched the €300 million ($324.82 M) Seaya Andromeda fund, Southern Europe's first Article 9 climate-tech fund. This brings Seaya's assets to over €650 million ($703.78M), making it Spain's leading VC firm. Major investors include Iberdrola, Nortia, Santander, BNP Paribas Group, Next Tech Fund, and Bpifrance.

Founded in 2013, Seaya accelerates the growth of startups by leveraging the founder’s strategic vision, providing them with Seaya’s global platform, its extensive network of founders, investors, and multinational corporations, as well as all its experience in the global expansion of companies such as Glovo, Cabify, Wallbox, Spotahome, Clarity AI, Clicars, Alma and RatedPower.

 🤑 Opportunity Radar

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