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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

• German flying taxi startup Lilium has found a buyer in the Mobile Uplift Consortium, with the deal set to close in January and 770 staff set to return.

• Clara Chappaz has retained her position as the Minister of Artificial Intelligence and Digital Affairs in François Bayrou’s new government.

• Telegram has become profitable with over $1 billion in revenue for 2024, 12 million paid users, and more than $500 million in cash reserves.

• Dutch Online education platform Wizenoze has been declared bankrupt after failing to secure funding despite a signed agreement with an investor.

• Former A16z partner Sriram Krishnan has been appointed senior policy advisor for AI at the White House Office of Science and Technology Policy.

💸 Top Funding Rounds

• Binance and Kraken lead a $10 million Series A round for Usual, a decentralized stablecoin startup based in France.

• Anglo-Portuguese energy tech Arborea raised $5.2 million in a round led by Indico Capital partners to scale protein production.

• Deus Robotics raised $3 million to enhance its AI platform enabling communication between warehouse robots from different manufacturers.

• OnHand secured $940,000 in investment led by Northstar Ventures to expand its social impact platform, helping businesses drive corporate responsibility.

• IonIQs received a $365,000 investment from Future Tech Ventures to develop sustainable technology for extracting lithium from wastewater.

💰️ Notable Exits

• Amsterdam-based Prosus is set to acquire Latin American OTA Despegar for $1.7 billion, aiming to expand its Latin American presence.

• DoubleU Games acquired a 60% stake in Turkish studio Paxie Games for up to $67 million with $27 million upfront.

• Perfect Corp. acquired fashion tech innovator Wannaby to expand its virtual try-on offerings into shoes, bags, and apparel.

• SecuritEase Group acquired Tiara Fintech Solutions to expand its UK presence, enhancing its wealth management and tax reporting capabilities.

• Spotlight Group's subsidiary Finreg Solutions sold its analytics business Kalqyl to Fairvalue with plans to also sell Kalqyl AI.

🏦 About Investors

• 360 Capital has closed $146 million for its new climate tech fund, backed by A2A and De Nora, with a goal of reaching $208.6 million by 2025.

• UK-based VC Fuel Ventures raised over $25 million from Chinese investors to strengthen UK-China tech partnerships and support high-growth startups.

🚀 Startup of the Week

Introducing our Startup of the Week 🏆

Usual

Usual, a decentralized stablecoin startup launched in early 2024, has raised $10 million in a Series A round led by Binance and Kraken. Its community-focused stablecoin, USD0, is backed 1:1 by real-world assets like U.S. Treasurys and quickly became the seventh-largest stablecoin by market cap. Unlike traditional stablecoins, Usual offers real yields to holders, with projections of an 80% annualized yield. The USD0++ protocol lets users stake USD0 for rewards in USUAL. Backed by investors such as Ethena, Ondo, Echo, and M^0, Usual was founded by Pierre Person, a former French parliament member and key figure in crypto legislation.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

360 Capital

360 Capital, a prominent French-Italian early-stage venture capital firm founded in 1997, has closed $146 million for its new climate tech fund, with plans to reach a target of $208.6 million by 2025. Backed by major Italian corporates A2A and De Nora, the fund focuses on Series A and B startups addressing energy transition, circular economy, and urban sustainability, with a significant emphasis on hardware solutions. Initial investments will range from $2.1-10.45 million, and the fund aims to back up to 20 startups. The firm has already made notable investments in the climate tech sector, including energy storage and waste reduction technologies.

 🤑 Opportunity Radar

Call for Applications: 100x Impact Accelerator

Apply to the 100x Impact Accelerator by 6 January 2025 for a 12-week program offering £150,000 in catalytic capital and access to world-class mentors, researchers, and policymakers. The program is open to social ventures addressing global challenges in areas such as climate, health, education, and equitable economies, with a focus on scalable, evidence-based solutions. Participants will join a cohort of like-minded entrepreneurs, gain long-term alumni membership, and present their work at a dedicated Summit Day.