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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

• During her speech, EU President Ursula von der Leyen emphasized the need to improve scaling startups in Europe to close the innovation gap.

• Klarna reported a third-quarter net profit of $19,70 million, marking a 57% year-on-year increase, as it prepares to go public in the US.

• Monzo has appointed Tom Oldham as Group CFO and Mark Newbery as UK CFO as it prepares for US and EU expansion.

• The Alibaba-backed Turkish e-commerce company, Trendyol, is seeking to raise $1 billion to fund its expansion efforts.

• Galp has abandoned its joint venture with Northvolt to build Europe's largest lithium plant after Northvolt filed for bankruptcy.

💸 Top Funding Rounds

• Copenhagen-based Adcendo ApS raised $135 million in an oversubscribed Series B funding round to advance its antibody-drug conjugates pipeline.

• Cradle raised $73 million in Series B funding led by IVP and Index Ventures to accelerate drug, chemical, and agricultural product development.

• Oulu-based TactoTek raised $60 million to expand its In-Mold Structural Electronics (IMSE®) technology globally.

• Vertical Aerospace secured $50,14 million in funding as part of a $180,22 million deal to reduce debt and support its Flightpath 2030 Strategy.

• Neo4j secured a $50 million investment from Noteus Partners, reinforcing its $2 billion valuation as it prepares for a potential IPO.

💰️ Notable Exits

• VANAD Group has acquired Utrecht-based sports tech company SciSports, specializing in football analytics.

• Assai Software Services has acquired Viewport.ai to enhance its solutions for managing complex engineering projects.

• XRHealth has acquired Amsterdam's NeuroReality, including its cognitive rehabilitation tool "Koji's Quest", to enhance its XR therapeutic offerings.

• Litera has acquired Office & Dragons, a software platform that uses generative AI for mass drafting and editing documents.

• Adzuna has acquired Seiza, a recruitment platform focused on frontline workers, to expand its presence in North America and Europe.

🏦 About Investors

• Starquest, in partnership with CCR, has launched the Climate Change Resilience Fund (CCR-F) at €100 million ($105,33M).

• Poland is launching a €100 million ($105,33M) Defense Fund to invest in defense and dual-use technologies.

• Sistafund, an investment fund led by Tatiana Jama, has secured €30 million ($31,60M) from the European Investment Fund.

• Alaluz Capital has launched the Alx Firstech Ventures fund to invest in early-stage SaaS startups, with a target size of €24 million ($25,25M).

• Austrian VC Speedinvest announced a new five-person management team, with Oliver Holle remaining CEO.

📋️ Curated Lists

Uncover the vibrant venture capital ecosystem driving Greece's entrepreneurial resurgence. From Athens to Thessaloniki, leading VCs like Marathon Venture Capital, Metavallon VC, and VentureFriends are powering groundbreaking startups across biotech, fintech, and green tech sectors. These firms aren't just investing; they're providing the support needed to scale and thrive globally. Delve into the full article to discover the key players and their investment activity.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Adcendo ApS 

Adcendo ApS, a Copenhagen-based clinical-stage biotechnology company led by CEO Michael Pehl, has secured $135 million in an oversubscribed Series B funding round. Founded in 2017 by Niels Behrendt, Lars Engelholm, and Christoffer Nielsen, the company focuses on developing first-in-class antibody-drug conjugates (ADCs) to address cancers with significant unmet medical needs. The funding round, led by TCGX and joined by new investors like TPG Life Sciences Innovations and Orbimed Advisors, along with existing backers such as RA Capital Management and Novo Holdings, will support the clinical advancement of Adcendo’s innovative ADC pipeline, including ADCE-T02, ADCE-D01, and ADCE-B05, aimed at transforming treatment paradigms for hard-to-treat cancers.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Starquest

Starquest, led by Arnaud Delattre, has partnered with the public reinsurer Caisse Centrale de Réassurance (CCR) to launch the €100 million ($105,33M) Climate Change Resilience Fund (CCR-F). This groundbreaking initiative will invest in innovative solutions for preventing natural disasters and adapting to climate change, with an average ticket size of €5 million ($5,27M) and flexibility for smaller or larger investments. The fund targets diverse technologies, from AI-based prevention tools to traditional protective measures, aiming to support 15 companies over five years. The first investments are expected by early 2025, advancing CCR’s mission to proactively mitigate disaster risks.

 🤑 Opportunity Radar

Open Call by Pivotal: Action for Women’s Health

Apply for the Action for Women's Health open call and secure funding to enhance women's mental and physical health globally. With a total fund of $250 million, selected organizations will receive flexible funding ranging from $1 million to $5 million. This initiative is designed for organizations focused on serving women and improving health outcomes while centering equity in their approach. To participate, complete the Organizational Readiness Tool and familiarize yourself with the Open Call Rules. Interested organizations must register to apply before December 3, 2024. Complete applications are due before January 10, 2025.