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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

• Revolut strengthened its UK board with the appointment of banking veterans Fiona Fry and Sir Peter Estlin as part of its transition to a fully licensed bank.

• OpenAI opened a Zurich office, hiring ex-Google DeepMind engineers to advance multimodal AI and is planning further global expansion.

• Kry cofounder Johannes Schildt stepped down as CEO after a decade, transitioning to board chair.

• HSBC Innovation Banking has filed to appoint administrators for UK fintech Stenn, which is actively defending against the move.

• London coworking company Second Home has applied to appoint administrators following years of financial struggles and declining revenues.

💸 Top Funding Rounds

• Nebius, a Dutch AI infrastructure company, raised $700 million from investors including Nvidia and Accel to fuel its U.S. expansion.

• Zopa secured $84,45 million to expand into current accounts, investments, and GenAI-powered financial tools to diversify revenue beyond lending.

• Antag Therapeutics closed an $84,45 million Series A round led by Versant Ventures to advance its obesity treatment candidate into Phase I trials.

• UK-based 9fin raised $50.04 million in Series B funding led by Highland Europe to expand its AI-powered analytics platform for debt capital markets.

• CoachHub has secured $42.23 million in growth funding from HSBC Innovation Banking to enhance its AI-driven digital coaching platform.

💰️ Notable Exits

• Fintech unicorn Capitolis acquired Capitalab for $46 million to expand its derivatives optimization services.

• Belgian foodtech unicorn Deliverect acquired Paris-based Tabesto to enhance restaurant operations with smart kiosks.

• Amsterdam-based 819 Capital Partners acquired Dutch biotech company CiMaas, which focuses on Natural Killer cell therapy for cancer treatment.

• UK-based payments firm Sokin acquired Norwegian fintech Settle to enhance its tech offering and secure a European EMI license.

• Covalo acquired Italy's cosmetics platform Cosmetitrovo to expand its regional presence and offer tailored solutions for the cosmetics industry.

🏦 About Investors

• Heartcore Capital closed a $180 million Fund V, shifting focus to a broader investment strategy with plans for 25-30 early-stage investments.

• Munich-based Alstin Capital raised $184.73 million for its Alstin III fund to invest in early-stage European B2B software companies.

• Daphni launched Time4, a $105.56 million fund aimed at backing French entrepreneurs from diverse and underrepresented backgrounds.

• Berlin-based Fly Ventures closed its third fund at $84.45 million, targeting deep tech startups led by technical founders.

• GVC Gaesco and Next Tier Ventures launched a $52.78 million AI-focused fund targeting B2B startups in Europe, the US, and Latin America.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Nebius

Nebius, an AI infrastructure company based in the Netherlands, was formerly known as Yandex N.V., the Russian tech giant. After rebranding in July 2024, following the divestment of its Russian assets, Nebius specializes in providing cloud computing infrastructure designed specifically for artificial intelligence applications. The company raised $700 million in funding from investors including Nvidia, Accel, and Orbis to fuel its U.S. expansion and growth. Nebius plans to expand its data centers in Kansas City, Paris, and Finland and aims for a revenue run rate of $750 million to $1 billion by the end of 2025. Despite strong cash reserves, Nebius continues to seek additional capital for its capital-intensive expansion.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Heartcore Capital

Heartcore Capital, founded in 2007 by Jimmy Fussing Nielsen as Sunstone Capital, is an early-stage venture capital firm with offices in Copenhagen, Stockholm, Berlin, and Paris. With over $844.5 million in cumulative committed capital, it has backed over 100 companies, including Tink, Neo4j, Boozt, and TravelPerk. Heartcore closed its $180 million Fund V, pivoting from its original consumer technology focus to a more generalist approach, with a new emphasis on sectors such as infrastructure, synthetic biology, AI, productivity software, and climate tech. The firm aims to make 25 to 30 early-stage investments, continuing its legacy of early backing and innovation.

 🤑 Opportunity Radar

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