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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

• 🤝 Diversity Spotlight

• 🚀 Startup of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Delivery Hero warned its investors that it could face a €400 million ($435.52M) antitrust fine for alleged market sharing and anti-competitive practices following unannounced raids by European Union authorities on the offices of Delivery Hero and its Spanish subsidiary Glovo.

• SHEIN pledged €250 ($272.2M) million investment in the UK/EU, including a €200 million ($217.76M) Circularity Fund for sustainable fashion startups, amid EU scrutiny and preparations for a London IPO.

• Apple and Microsoft settled lawsuits with the EU: Apple agreed to allow rival mobile wallet developers NFC-based contactless payments and access to key iOS features, while Microsoft committed to enhancing Azure services for European Cloud Infrastructure Services Providers to resolve an antitrust complaint.

• The EU AI Act, now published in the bloc's Official Journal, sets deadlines for its implementation: starting August 1, 2024, with full applicability by mid-2026, introducing phased regulations for AI developers based on risk levels.

• Elon Musk's platform X faces preliminary findings of breaching the EU's Digital Services Act, focusing on issues such as content moderation and data access, potentially resulting in fines of up to 10% of its global turnover.

💸 Top Funding Rounds

• German AI defense startup Helsing raised €450 million ($489.96M) in Series C funding led by General Catalyst, valuing the company at €4.95 billion, to bolster R&D and support work in the Baltics amid the Ukraine conflict.

• Munich-based startup Planqc has secured €50 million ($54.44M) in a Series A round led by the European Family Office CATRON Holding and the DeepTech & Climate Fonds (DTCF).

• Hannover-based HERO Software, a SaaS platform for tradesmen SMEs, raised €40 million ($43.55M) in Series B funding led by Eight Roads Ventures, with Cusp Capital and Federated Hermes.

• Italian mobility company LimoLane, raised €35 million ($38.11M) to expand its premium business mobility solutions across Europe, integrating mobility requests into client workflows and serving over 50 countries.

• Rome-based Exein has raised €15 million ($16.33M) in Series B funding to enhance its IoT device-level security solutions.

💰️ Notable Exits

• SoftBank acquired UK-based AI chip startup Graphcore for an undisclosed sum, with the company continuing operations under its existing name and leadership.

• AMD to acquire Finnish AI company Silo AI for $665 million, bolstering its AI capabilities and expanding its portfolio of end-to-end AI solutions.

• Infinite Reality acquired UK-based immersive tech company Landvault for $450 million to expand its AI and metaverse capabilities.

• Germany-based Kipu Quantum acquired Anaqor's PlanQK quantum computing platform to expand its quantum algorithm services.

• Hi-Tech Apparel acquired UK's Unmade, a custom clothing software firm, to enhance on-demand apparel production capabilities.

🏦 About Investors

• Index Ventures has raised $2.3 billion across two new funds to intensify its focus on AI investments, highlighting its commitment to leveraging AI's transformative potential across global industries.

• LUMO Labs has launched a €100 million ($108.88M) fund to invest in 30-35 European impact-driven startups focusing on emerging digital technologies that address UN SDGs.

• Female-led Frumtak Ventures closed its fourth fund at $87 million to invest in software, AI, and deeptech startups, expanding beyond B2B SaaS in Iceland.

• BrightCap Ventures has closed €60 million ($65.33M) Fund II to support tech startups in Southeastern Europe, backed by EU and national funds, focusing on Future of Work, Digital Health, and Fintech.

• BOOOM, led by solo GP Felix Plapperer, has closed its inaugural €17 million ($18.51M) fund focused on European B2B software startups, offering mentorship from Sennder's founders to its portfolio companies.

📈 Deep Dive Bites

Uncover the catalysts behind Spain's rapidly evolving startup landscape. Explore the most active Venture Capital firms driving innovation and fostering entrepreneurial growth across the country. Delve into the full article to learn about their headquarters, investment strategies, notable exits, and key portfolio companies shaping Spain's emergence as a global innovation hub.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Helsing

Helsing, a startup specializing in defense artificial intelligence, has secured €450 million ($489.96M) in a Series C funding round. The investment was led by General Catalyst, with additional backing from various investors including Elad Gil, Accel, Saab, Lightspeed, Plural, and Greenoaks.

Founded in 2021, Helsing specializes in the creation of AI-powered military solutions and components. Its platform combines data from infrared, video, sonar, and radio frequencies to create a real-time picture of battlefields.

The company plans to allocate the new funds toward enhancing its product offerings and expanding its R&D efforts. A key priority for Helsing is to bolster European sovereignty, with a specific emphasis on safeguarding NATO's Eastern Flank.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Index Ventures

Index Ventures has announced adding $2.3 billion of capital to support startups including a 12th venture fund of $800 million and a 7th growth fund of $1.5 billion.

Founded in 1996 out of Geneva, the firm has expanded to London and San Francisco from where supports entrepreneurs all over the world. Arguably the best European VC firm, Index has helped build 108 Unicorns, 23 Decacorns, and 57 companies that went on to be publicly traded. Their portfolio has created 200,000 jobs so far and will create 20,000 more in the next 12 months.

With the new funds, Index Ventures is planning to support entrepreneurs riding the waves of innovation.

 🤑 Opportunity Radar

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