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

• 🤝 Diversity Spotlight

• 🚀 Startup of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• UK neobank Monzo's valuation rises to $5.9 billion in an employee share sale, following a $610 million fundraising earlier this year.

• Northvolt's subsidiary Ett Expansion has filed for bankruptcy after halting its factory expansion in Skellefteå.

• OpenAI is set to open a new office in Paris later this year, marking its third European location and aiming to engage with France's growing AI ecosystem.

• UK fintech unicorn Zilch plans to increase its staff from 300 to 450 as it aims for full-year profitability.

• Trustly has appointed Adam Miller as Group CFO to support its ambitious growth plans, bringing extensive experience from Deliveroo and Expedia.

💸 Top Funding Rounds

• Vienna-based GROPYUS has raised €100 million to enhance its sustainable timber-hybrid building operations and expand its robotic smart factory.

• Purespring has successfully raised £80 million in a Series B round led by Sofinnova Partners to advance its novel gene therapy platform.

• London-based Basecamp Research has raised $60 million in a Series B round led by Singular to enhance its AI-powered database of proteins.

• xFarm Technologies has raised €36 million in a Series C funding round led by Partech to enhance its digital tools for farmers.

• Paris-based Qantev has raised €30 million led by Blossom Capital to enhance its AI-powered claims platform for health and life insurance.

💰️ Notable Exits

• Berlin-based PIABO Communications has acquired Munich's Startup Communication to enhance its presence in the tech hub.

• US-based Buyers Edge Platform has acquired Swedish AI-driven restaurant platform Parsly to enhance its procurement management capabilities.

• Dutch hotel management software provider RoomRaccoon has acquired Belgium's Lobbi PMS to enhance its presence in the Benelux region.

• Pockit has acquired European fintech Monese in a move that ensures both companies will operate independently.

• Flip has acquired The Bot Platform to enhance its HR capabilities, providing frontline employees with access to advanced AI-powered tools.

🏦 About Investors

• PSV Hafnium has launched with $27.08 million from the European Investment Fund and $14.64 million from the Export and Investment Fund.

• Czech-based Tensor Ventures has launched a new €50 million fund to invest in deep tech startups.

• Former Speedinvest and Target Partners VCs raised €10 million for the first close of the new Munich-based fund Backtrace.

• Aquiti has launched a new seed fund, Aquiti Venture Amorçage 1, with a first closing of €30 million, targeting a final size of €60 million.

• PhotonVentures has secured a €5 million investment from Invest-NL and private investors for its PhotonVentures Fund I, targeting €100 million by year-end.

📈 Deep Dive Bites

Dive into Cyprus's vibrant venture capital scene, where active firms like GEM Capital, Joint Journey, and ULTRA.VC are fueling innovation and supporting startups across various industries. This article highlights their investment strategies, leadership, and notable portfolio companies that are shaping the region’s entrepreneurial landscape. Discover how these key players are accelerating growth and establishing Cyprus as a significant hub in the global VC ecosystem. Delve into the full article to uncover the complete profiles of these firms and their contributions to the startup ecosystem.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Purespring

Purespring Therapeutics has successfully raised £80 million (approximately $105 million) in an oversubscribed Series B funding round, led by Sofinnova Partners and supported by Forbion, Gilde Healthcare, British Patient Capital, and founding investor Syncona Limited. This funding will accelerate the development of its innovative podocyte-targeting AAV gene therapy platform, which aims to address kidney diseases, particularly IgA Nephropathy (IgAN). Currently, IgAN has no therapeutic options to halt its progression, and nearly one-third of patients may lose kidney function within five years. Founded in 2020 as a spinout from the University of Bristol, Purespring is dedicated to transforming the treatment landscape for chronic kidney conditions affecting around 840 million people globally. The funds will help advance its lead program, PS-002, towards a Phase I/II clinical trial.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Tensor Ventures

Czech-based venture capital firm Tensor Ventures has launched a new €50 million fund aimed at investing in deep tech startups. The fund will focus on sectors such as artificial intelligence, quantum computing, biotechnology, and sustainable technologies. Tensor Ventures, founded by Roman Smola, Martin Drdul, and Petr Ulvr, seeks to drive innovation both locally and internationally, leveraging their deep tech expertise and active investment strategy. The firm targets early-stage startups, investing in Seed and Series A rounds, with the goal of fostering cutting-edge technologies and attracting institutional support.

 🤑 Opportunity Radar

Call for Applications: YC W25

Apply to Y Combinator's Winter 2025 Batch by November 12th, 2024, to supercharge your startup journey. Gain access to a world-class ecosystem, resources, and networking opportunities in the heart of San Francisco. The YC program is designed for founders at all stages, from those with just an idea to companies with significant traction. Begin your application process today and join the ranks of successful startups like Airbnb, Stripe, and Reddit. The batch runs from January to March 2025, featuring weekly meetups, eminent speakers from the startup world, and dedicated support from experienced YC partners. Don't miss this chance to tap into YC's $600B combined valuation network and receive $500,000 in funding to kickstart your company's growth.