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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

• 📋️ Curated Lists

• 📈 Deep Dive Bites

• 🎙️ Expert Insights

• 🤝 Diversity Spotlight

• 🚀 Startup Of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• Swedish climate tech company Northvolt has filed for Chapter 11 bankruptcy in the US after struggling to secure funding.

• Revolut has obtained a UK trading license from the FCA, enabling it to offer UK and EU stock trading and ETFs directly.

• N26, a German fintech unicorn, reported its first-ever profitable quarter in Q3 2024 with a net operating income of €2.8 million ($2.93M).

• French AI startup Mistral has unveiled new AI models, Pixtral Large and Mistral Large 24.11, alongside updates to its Le Chat chatbot platform.

• Volocopter has hired former Lilium CFO Oliver Vogelgesang amid its financial struggles and ongoing talks with China’s Geely for a majority stake.

💸 Top Funding Rounds

• Belgian unicorn Odoo raised €500 million ($524M) in secondary capital led by CapitalG and Sequoia, increasing its valuation to €5 billion.

• Spanish fintech seQura secured €410 million ($429.78M) in funding led by Citi to expand into the US, UK, and Germany while launching new verticals.

• UK-based hotel software provider Lighthouse closed a $370 million Series C round led by KKR, reaching unicorn status.

• Oura, a Finnish healthtech maker of smart rings, has raised $75 million in Series D funding, reaching a $5.2 billion valuation.

• Tokamak Energy has secured $75 million to commercialize fusion technology using high-temperature superconducting magnets.

💰️ Notable Exits

• Dutch hospitality tech company Mews acquired Gothenburg's Atomize, enhancing its platform with real-time revenue management capabilities.

• PayPal-backed Modulr has acquired UK fintech Nook to enhance its payment offerings by integrating accounts payable automation.

• Paris-based ChapsVision has acquired AI-powered enterprise search startup Sinequa to expand its AI capabilities and enhance its ArgonOS platform.

• Game District acquired a majority stake in Turkish mobile gaming startup Gleam Games, known for its puzzle game EverBlast.

• Paxos acquired Finland's Membrane Finance to expand into the EU and issue MiCA-compliant stablecoins, pending approval.

🏦 About Investors

• Berlin-based Extantia Capital closed its €204 million ($213.84M) Article 9 flagship fund to support climate-focused software and hardware companies.

• Nucleus Capital has launched a €40 million ($41.93M) fund focusing on synthetic biology to transform food and industrial production.

• Move Energy Fund I secured €35 million ($36.69M) from the EIF to fund European ventures focused on decarbonizing power, transport, and buildings.

• BSV Ventures closed a €15 million ($15.72M) fund with backing from the NATO Innovation Fund and others to support Baltic and EU deeptech startups.

• 500 Emerging Europe has rebranded as e2vc, focusing on pre-seed and seed-stage investments in CEE, the Baltics, and Turkey.

📋️ Curated Lists

Discover Belgium's thriving venture capital ecosystem, where seasoned investors and specialized funds drive innovation across sectors like biotech, fintech, and clean tech. From Astanor Ventures to Volta Ventures, these key players fuel startup growth with strategic funding and expertise. Curious about the firms shaping Belgium's startup landscape? Delve into the full article to explore the leadership, portfolios, and investment focus of Belgium's most active VC investors.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Odoo

Belgium-based Odoo, founded in 2002 by Fabien Pinckaers, has raised €500 million ($523M), reaching a €5 billion ($5.24B) valuation. Odoo offers an open-source suite of integrated business applications for SMEs, supported by a global community of over 1,500 members and certified partners in 120+ countries. With 1,500 daily downloads, Odoo is a cost-effective alternative to platforms like SAP and Microsoft Dynamics. This funding reinforces its position as a leader in Europe’s tech ecosystem, recognized for its versatile, user-friendly tools like Odoo CRM, Accounting, and HR, and its role in transforming business operations globally.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Extantia Capital

Extantia Capital, a Berlin-based climate-first VC firm, has closed its oversubscribed Article 9 flagship fund at €204 million ($213.84M), backed by institutional investors such as sovereign wealth funds, pension funds, and corporations. Founded in 2020, Extantia focuses on Seed to Series A rounds, investing €1-5 million in high-impact climate solutions. Managing €300 million in assets under management, the firm has built a portfolio of over 20 companies, including Reverion, INERATEC, and BeZero. Extantia provides hands-on support to founders, accelerating the commercialization and scaling of green technologies, aligning with its mission to fuel an industrial revolution driven by sustainable and economically viable innovations.

 🤑 Opportunity Radar

Call for Applications: Llama 3.1 Impact Grants

Meta's Llama 3.1 Impact Grants application deadline has been extended to December 1, 2024, at 11:59 PM PT, offering organizations a chance to secure funding of up to $500,000. The program supports innovative projects leveraging Llama 3.1 or 3.2 to address global challenges in areas like economic development, science and innovation, public services, and education. Participating organizations must demonstrate technical feasibility, impactful solutions, and a robust business plan. Whether enhancing multilingual AI capabilities or creating tools to lower barriers for developers, this grant aims to foster groundbreaking applications with social impact.