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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

• Mistral partnered with AFP to integrate multilingual news into its AI assistant Le Chat, enhancing reliable, real-time responses.

• The UK unveiled an ambitious AI plan with "AI growth zones," a new supercomputer, $17 billion in data center investments, and measures to boost infrastructure, skills, and public service AI adoption.

• The European Commission has requested documents from Elon Musk's X on its recommendation algorithms to assess compliance with the DSA.

• IbanFirst, a cross-border payments platform for SMBs, achieved profitability in 2024 with $66.8 million in revenue, aiming for $102.8 million ARR by 2025.

• Tred is shutting down, citing new rules on push payment fraud that made its business model unsustainable despite recent investment from Ecotricity.

💸 Top Funding Rounds

• Generative AI startup Synthesia raised $180 million in a Series D round led by NEA, reaching a $2.1 billion valuation.

• UK-based Cera raised $150 million in funding to scale its AI-driven home healthcare platform.

• Neura Robotics secured $123.34 million in Series B funding led by Lingotto Investment Management to advance its cognitive robots and expand its Neuraverse platform.

• Sygnum reached unicorn status after closing its latest funding round at $58 million to strengthen its position in the digital asset space.

• Berlin-based Nelly raised $51.39 million in Series B funding led by Cathay Innovation and Notion Capital to expand internationally.

💰️ Notable Exits

• IG Group acquired Freetrade for $194.83 million with Freetrade's CEO and team continuing to operate the platform independently.

• Undagrid was acquired by EnOcean to combine their AI-driven solutions and energy-efficient sensors for smarter asset tracking and sustainable processes.

• EasyPark Group has completed its acquisition of Flowbird Group to create a global mobility platform aimed at improving urban mobility.

• AccountsIQ has acquired ExpenseIn, to expand its services beyond finance, serving a combined user base of over 175,000.

• Capital D has acquired a stake in GoWish to help scale its AI-driven wishlist service and expand its merchant network internationally.

🏦 About Investors

• Amsterdam-based Keen Venture Partners is raising $128.5 million for Benelux’s first defence tech fund to support 20-25 startups in the defence and security sector, focusing on dual-use technologies in European NATO countries.

• Siena Secondary Fund has launched its $51.4 million Fund II focusing on high-growth scaleups in the CEE and select Nordic regions to provide liquidity solutions and support expansion.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Synthesia

London-based generative AI startup Synthesia has raised $180 million in a Series D funding round led by NEA, with participation from existing investors like Alphabet’s GV and MMC Ventures, and new backers such as World Innovation Lab and Atlassian Ventures, bringing its valuation to $2.1 billion and total funding to over $330 million. Founded in 2017 by Victor Riparbelli, Steffen Tjerrild, Matthias Niessner, and Lourdes Agapito, Synthesia’s AI-powered platform enables enterprises to create videos using AI-generated avatars for marketing, training, and customer support. With over 60,000 customers, including Amazon and Johnson & Johnson, the funding will drive R&D and global expansion across North America, Europe, Japan, and Australia, as the company competes with Big Tech and startups in the rapidly growing video generation sector.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Keen Venture Partners

Amsterdam-based Keen Venture Partners is raising $128.48 million for the first-ever defence tech fund in the Benelux region, aiming to support 20-25 startups specializing in dual-use defence and security technologies across European NATO countries. Established in 2014 with a focus on early-stage investments, Keen Venture Partners plans to back startups from seed to Series B stages, addressing the growing need for innovative solutions in a shifting geopolitical landscape. The fund will target technologies with both military and civilian applications, such as drones and radar systems, and seeks to strengthen Europe’s self-reliance in defence. Backed by a top-tier advisory board of military, political, and policy experts, Keen aims to foster a sustainable and modern European defence ecosystem.

 🤑 Opportunity Radar

Call for Applications: Sustainability Open Innovation Challenge 6th Edition

Apply for the Sustainability Open Innovation Challenge 6th Edition by January 27th, 2025, to showcase your sustainable solutions and gain exclusive visibility from top investors. This global competition invites startups and SMEs to tackle pressing sustainability challenges in areas such as Climate Change, Green Buildings, Sustainable Agriculture, and Sustainable Materials. Submissions made early will receive feedback from industry experts and potential investors, opening doors to funding, collaboration, and mentorship. Don’t miss this chance to make a meaningful impact and contribute to a greener, carbon-neutral future.