Hello there,

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

• Mercury Bank will close accounts for Ukrainian users by August 13, 2024, due to compliance issues, affecting businesses that relied on its services for payroll and transactions.

• Revolut has secured a UK banking license from the PRA after a three-year wait, allowing it to begin a 'mobilization' phase with restrictions on customer deposits while continuing to operate under its EU license.

• French foodtech Gourmey has applied to UK and EU regulators to authorize its cultivated foie gras, potentially setting a precedent for the sale of cultivated meat across the EU.

• Lithuania's national bank has ordered Accel-backed fintech Kevin to halt new client services until it meets reporting requirements, following delays in its financial statements and compliance issues.

• Robert Vis, Founder & CEO of Bird, announced his departure from the Netherlands to seek a more supportive environment for entrepreneurship, citing challenges in the Dutch business landscape.

💸 Top Funding Rounds

• Barcelona-based Exoticca, a travel tech platform for multi-day tours, has closed a €60 million ($65.21M) Series D round led by Quadrille Capital.

• Luxembourg-based Gcore, offering edge and cloud-based services, has secured a €55.16 million ($60M) Series A round in its first external funding since its founding over a decade ago.

• Netherlands-based Payt, an accounts receivable SaaS platform, has secured a €55 million ($59.77M) minority investment from Partech’s growth fund.

• EV battery tech startup Addionics has raised $39 million in Series B funding, co-led by GM Ventures and Deep Insight, with participation from Scania and other investors.

• Zurich-based generative AI security company Lakera has raised $20 million in Series A funding to address the critical need for security solutions specific to GenAI risks.

💰️ Notable Exits

• UniCredit has acquired Polish BaaS platform Vodeno and Belgian Aion Bank for €370 million ($402.11M), merging Vodeno's cloud technology with Aion's ECB license to expand end-to-end banking services across Europe.

• Morgan Stanley Expansion Capital has acquired a stake in UK payments firm Sokin providing it with the necessary capital for growth and global expansion.

• African Unicorn MNT-Halan has acquired Turkish commercial finance company Tam Finans from Actera Group.

• German edtech company Sdui has acquired Vienna-based FoxEducation, enhancing its position as a leading provider of digital education solutions in German-speaking Europe.

• Registrar Corp has acquired UK-based Foodsteps, expanding its reach to 28,000 food companies and enhancing its regulatory compliance services with Foodsteps' environmental impact assessment platform.

🏦 About Investors

• Lead Ventures has launched a new €100 million ($108.68M) fund aimed at late Seed and Series A startups in Central and Eastern Europe, offering investments of €2 million ($2.17M) to €10 million ($18.87M) to fuel growth and market expansion.

• The NATO Innovation Fund (NIF) announced an investment in Join Capital, a Berlin-based early-stage venture fund specializing in deep tech for industrial and enterprise sectors.

• Judith Dada, General Partner at Berlin-based venture capital fund La Famiglia, is departing after seven years, having joined in 2017 to support industry-disrupting technology companies.

📈 Deep Dive Bites

Discover the dynamic venture capital landscape fueling the Baltic tech boom. This guide profiles 16 key VC firms across Estonia, Lithuania, and Latvia that are driving innovation and nurturing startups. Delve into the full article for essential insights on the Baltic tech scene's rapid growth and potential—a must-read for entrepreneurs and investors alike.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Exoticca

Exoticca, based in Barcelona, is a travel tech company that offers curated multi-day tour packages to exotic destinations worldwide. Their vacation packages typically include flights, hotels, and tours, promoted as all-inclusive deals. The platform aims to make exotic travel more accessible and affordable by providing comprehensive, discounted packages that cater to various traveler preferences. With a recent €60 million Series D funding round led by Quadrille Capital and contributions from new and existing investors, Exoticca is poised for further growth and expansion in the travel industry.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Lead Ventures

Lead Ventures, a Budapest-based venture capital and private equity firm, has launched a €100M fund to invest in startups in Central and Eastern Europe (CEE), focusing on Seed and Series A stages. Specializing in financing scale-ups, the firm aims to support the region's most promising ventures with capital, expertise, and a vast professional network, enabling them to drive innovation and transform their industries.

 🤑 Opportunity Radar

IIT VC Live Pitch

Apply to pitch at the PANIIT Global Conference on the Future of Tomorrow, 2024, taking place on October 4th and 5th in Amsterdam. This is your chance to secure funding ranging from €100k to €10 million, receive mentorship from seasoned VCs, and gain strategic support for your business plan. The conference is open to companies across all sectors and stages. Applications are accepted on a rolling basis with deadlines on June 15th, July 15th, and August 15th, 2024.