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- Startup Researcher - EMEA Weekly: Week 10
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Europe
Europe Round Up
📰 Important News
Dutch privacy organizations, DPS and Consumentenbond, have filed a lawsuit against Meta for suspected privacy violations.
The European Commission has fined Apple over €1.8B for abusing its dominant position in the music streaming market on the App Store.
UK semiconductor startups seek policy changes before the budget announcement to bolster the sector, crucial for the country's position as a science and technology leader.
Eysing, a Noord Brabant-based electric moped manufacturer, declared bankruptcy on Thursday, February 6, due to insufficient funding.
Sir Gavin Williamson, former UK education secretary, was recruited by influencer-backed virtual card payment fintech Lanistar for his expertise in Africa.
💸 Top Funding Rounds
UK medtech startup Phagenesis raises $42m in Series D to launch its swallowing disorder medical device in the US and expand in Europe.
German startup Sunfire has secured €500m in Series E funding, a mix of equity, debt, and grants, to push its green hydrogen production technology at scale.
Monzo has raised $430m in funding at a $5bn valuation as it plans expansion into the US market.
Amsterdam's Mews, a cloud-based property management system, secures $110M in funding led by Kinnevik, achieving unicorn status with a valuation of $1.2B.
Open-source cryptography company Zama has announced a $73 million Series A round led by Multicoin Capital and Protocol Labs.
💰️ Notable Exits
Amsterdam-based felyx, a shared e-moped solutions company, announced its merger with the Spanish mobility company Cooltra.
Turkish neobank Papara acquires T-Bank pending regulatory approval, following agreements with Papara's shareholders, T-Bank, BankMed, and Arab Bank.
Fintech unicorn Qonto revealed its intention to acquire French fintech company Regate. Although the financial terms are undisclosed, the deal is anticipated to be finalized in the coming weeks.
Tango, a US provider of cloud-based real estate and facilities management software, has acquired Swiss proptech startup Locatee.
Lithuanian unicorn Vinted acquires Copenhagen's Trendsales to strengthen its Nordic presence, expanding its reach in the second-hand marketplace.
🏦 About Investors
UK-based Grwth launches consumer venture fund, Grwth Ventures, backed by a $6.5M cornerstone investment from MNC.
Amsterdam's Carbon Equity raises €100M for its Climate Tech Portfolio Fund II, exceeding its €75M target and doubling the size of Fund I, which closed at €42M in 2022.
Cherry Ventures now offers coaching through its Copilot program for newly-backed founders and core employees to provide leadership support from the start.
Nordic Science Investments (NSI) launched its first VC fund, aiming to boost research-based deep tech across the Nordics with an initial closing of €60 million.
📈 This Week’s Insights
For our Audience interested in the European ecosystem, what content format do you prefer?This week, you'll be the one providing us with insights ;) |
Middle East
ME Round Up
📰 Important News
The Mohammed bin Rashid Innovation Fund announced its partnership with Hope Ventures to enable investment opportunities for entrepreneurs based in the UAE through the Beban TV Show.
💸 Top Funding Rounds
Salla, a Saudi-based Saas enablement platform, successfully raised $130 million in a pre-IPO investment round led by Investcorp and Sanabil Investment.
Buildnow, a proptech company based in Saudi Arabia, has secured $9.4 million in Seed funding with $6.5 million in equity and $2.9 million in debt.
RemotePass, an HR and fintech platform, has closed a $5.5 million Series A round led by 212 VC, thus elevating its total funding to over $10 million.
Saudi construction tech firm BRKZ secures $8M Series A, co-led by 9900 and BECO Capital, with Aramco's Wa’ed Ventures and other investors also participating.
Saudi Arabia's bidding platform Mazadak has successfully raised $10 million in funding, with Revival Lab and a consortium of family offices leading the investment round.
💰️ Notable Exits
Saudi Arabia's equity management platform RasMal has acquired UAE's Pentugram to broaden its services into private capital investment management solutions.
🏦 About Investors
Don’t Quit Ventures has launched a $10 million fund geared towards backing early-stage AI companies in the Middle East and emerging markets.
Organon and Flat6Labs have launched the second cycle of the Women’s Health Accelerator Program aimed at empowering digital health startups that prioritize improving women’s health in the MENAT region.
Extend Group and Rassanah Financial, both based in Saudi Arabia, have joined forces to introduce the Extend Fund, a $26.6 million fund, dedicated to bolstering Saudi SMEs.
Saudi Arabia’s National Development Fund and the Social Development Bank are teaming up to create two VC funds totaling $120 million. These funds aim to stimulate growth in the gaming and esports industries within the kingdom.
Bahrain's Arcapita Capital closed a $500 million KSA Logistics Fund III, with contributions from an undisclosed GCC sovereign wealth fund and various institutional investors.
📈 This Week’s Insights
For our Audience interested in the Middle East, what content format do you prefer?This week, you'll be the one providing us with insights ;) |
Africa
Africa Round Up
📰 Important News
LemFi, a fintech company specializing in innovative international payment solutions, has appointed Allen Qu, former COO of OPay, to lead its expansion into China as Vice President of Growth.
Endeavor Kenya announces the first cohort of nine startups for its ScaleUp program, designed to provide high-growth ventures with the network and resources needed to clarify their path to scaling.
Flutterwave, Africa's largest startup, is shutting down its virtual card service Barter to focus on enterprise and remittance businesses.
Binance announced the discontinuation of its naira services in response to increased regulatory scrutiny in Nigeria.
EQDOM and AUTO24.ma, key players in the consumer credit and automotive sectors, have forged a partnership to enhance the used vehicle buying experience in Morocco.
💸 Top Funding Rounds
Egypt's adtech company dKilo secures $3.2 million in seed funding from Upturn Ventures.
MDaaS Global, a healthtech company managing Nigeria's fastest-growing healthcare network, BeaconHealth Diagnostics, has successfully raised $3 million in a Pre-Series A funding round.
Moroccan FinTech startup tookeez, known for its unique loyalty program aggregation ecosystem benefiting brands, merchants, and customers, has disclosed a fundraising round of $1.5 million.
RecoMed, a South African digital healthcare marketplace company, has secured fresh funding from the Japanese pharmaceutical firm Eisai.
TowerCo of Africa Uganda, a tower infrastructure company, has revealed securing $40 million in long-term financing to enhance mobile phone network coverage in rural areas across the East African country.
💰️ Notable Exits
US-based HR startup Deel announces its acquisition of African-based payroll and HR software company PaySpace for $100 million.
ProductLife Group acquires Health Care Solution, bolstering its global regulatory and compliance support for life sciences clients.
🏦 About Investors
South African venture capital firm Conducive Capital has launched a $50 million fund aimed at investing in early and growth-stage startups across the African continent.
The World Bank Group's development finance institution, IFC, in collaboration with South Africa-based investor Solcon Capital, has revealed a strategic partnership focused on investing in the deep tech sector in South Africa and India.
French VC firm Ring Capital has unveiled the launch of an impact investment fund, Ring Africa, aimed at French-speaking West Africa.
📈 This Week’s Insights
For our Audience interested in the African ecosystem, what content format do you prefer?This week, you'll be the one providing us with insights ;) |
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