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- Startup Researcher - EMEA Weekly: Week 13
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Europe
Europe Round-up
📰 Important News
Dutch cloud firm HyperAI has filed a lawsuit against UK chipmaking startup Graphcore, alleging breach of contract. Graphcore is accused of terminating a cloud partnership deal and not providing paid technical support as agreed.
The European Hyperloop Center has opened for initial tests, with startups like Spain's Zeleros and Poland's Nevomo planning to test their prototypes at the Dutch facility, which is funded by the Netherlands and the EU.
Vienna-based online tutoring platform GoStudent, valued at $3.2 billion, has achieved profitability with 11 million families and 23,000 tutors on board.
Demis Hassabis, CEO and co-founder of Google's AI subsidiary DeepMind has been knighted in the UK for his contributions to artificial intelligence.
Slovakian startup KleinVision sells exclusive Aircar manufacturing license to China's Hebei Jianxin Flying Car Technology Co, advancing flying car development.
💸 Top Funding Rounds
Belgium's Robovision has secured a $42 million Series A round led by Target Global and Astanor Ventures to expand its US operations, marking one of the largest Series A rounds in Belgium's startup ecosystem.
Greek-founded proptech soonicorn Blueground, specializing in short-term furnished apartment rentals, has raised $45M in Series D funding, with Susquehanna Private Equity Investments leading the round.
London's RegTech firm Global Screening Services raises $47M in Series A funding, with AlixPartners, Cynosure Group, and Commonwealth Bank of Australia (CBA) among the backers.
Protembis, a medtech company, has raised a $32.39M Series B round to support the enrollment of their PROTEMBO Investigational Device in clinical trials.
France's CNES has decided to invest $432 million in four small launcher startups, including three focused on future satellite constellations and one on in-orbit servicing missions.
💰️ Notable Exits
Canva has acquired Affinity, a professional creative software suite based in the UK, following Adobe's introduction of GenStudio at Adobe Summit.
London's House of Poppins has acquired The Tree, a social-first agency in Europe, doubling its team size and expanding its social media services.
Stockholm-based Netigate acquired Finnish startup Lumoa, to create a leading experience management solution.
Irish Konvi has acquired French Startup Diversified, integrating the fractional investment startup into its operations.
Bulgarian embedded finance firm Paynetics has acquired Novus, a B-Corp-certified digital bank in the UK.
🏦 About Investors
Amsterdam's Arches Capital, an angel syndicate of 100 business angels, has launched Fund I with a first close of $18.9 million, aiming for a total of $21.6 million.
1991 Ventures has raised a $18.94 million fund to support mission-driven companies throughout Ukraine and Central Eastern Europe.
Whiterock has launched a $94.8m Growth Capital Fund for Northern Ireland to provide growth funding, targeting investments ranging from $1.3 million to $6.3 million in scaling companies.
London's Ascension VC has achieved a $21.5M first close for its impact fund, supporting tech-driven solutions for resilient societies, aiming for a total of $63.2M with a second close expected in 2025.
Czech-based Purple Ventures has launched its second €40 million fund, focusing on startups from the CEE region with EU-based teams, offering tickets ranging from €250,000 to €750,000.
📈 This Week’s Insights
Middle East
ME Round-up
💸 Top Funding Rounds
Bahrain's Ahlan App, a loyalty program, raised $3 million led by Hope Ventures to expand its market reach.
Lebanon's Garbaliser, an agritech startup, secured $436,000 from Shark Tank Dubai for a 12% stake to support its expansion in GCC countries.
Kemet Financial Technologies raised $5 million in a round led by Further Ventures with participation from Csquared Ventures and BECO Capital.
Yolo Investments has joined UAE-headquartered The Open Network (TON) with an $8 million investment both in Toncoin and across the TON ecosystem.
📈 This Week’s Insights
Africa
Africa Round-up
📰 Important News
Play Sports Academy announces the "Spring 2024 Startup Football League" commencing April 14th with top startups nationwide participating.
Binance executive Nadeem Anjarwalla escaped custody in Nigeria amid investigations, while colleague Tigran Gambaryan remains detained. Authorities are working with Interpol for an international arrest warrant.
ByteDance shut down its LetsChat messaging app in Africa, after three years of attempting to establish it in the region.
VNV Global slashed its stake value in African B2B e-commerce startup Wasoko by 48%, valuing it at around $260 million, in line with its merger with MaxAB.
President Bola Tinubu of Nigeria appointed 31 members to the Presidential Economic Coordination Council including notable tech figures such as Bosun Tijani, Chidi Ajaere, and Funke Opeke.
💸 Top Funding Rounds
Egyptian edtech startup Sprints.ai secured a $3 million bridge round led by Disruptech Ventures, with contributions from EdVentures and CFYE.
South African on-demand breakdown management and analytics platform Right Now Response has raised $644K in a follow-on round led by Havaic.
Accra-based biotech startup, Revna Biosciences, has secured grant funding from the develoPPP Ventures program.
Kenyan e-mobility startup BasiGo secured $3 million in an equity funding round, led by CFAO Group and supported by Mobility54, a joint venture between Toyota and CFAO.
MEST Africa has crowned Koa Academy as the winner of the 2023 MEST Africa Challenge, earning a $50,000 equity investment after a fierce pitch competition.
💰️ Notable Exits
MTN Group sold its shares in MTN Guinea-Bissau and Guinea-Conakry to Telecel, marking its exit from smaller WECA markets.
South African billionaire Patrice Motsepe is in talks with Canal+ to join its bid for MultiChoice Group, potentially aiding Canal+ in meeting South Africa's Black ownership requirements.
🏦 About Investors
Tunisia's "ANAVA" fund invested $4.3 million in Janngo Capital Startup Fund (JCSF) to support tech startups in Africa, focusing on gender equality, with a target of $65 million for 25 francophone African startups.
Kua Ventures in Nairobi partnered with Startup Savanna to support SMEs in Kenya, allowing 10 entrepreneurs to pitch for up to $115K in funding.
IFC invested $10.5 million in 4DX Ventures' pan-African Fund III as part of its $225 million venture capital platform supporting early-stage companies in Africa, the Middle East, Central Asia, and Pakistan.
Nigeria's Heirs Holdings, a top African investment firm, has introduced its new subsidiary, Heirs Technologies, aiming to invest in advanced tech solutions.
Climate tech VC Satgana closes its debut fund at $8.6 million, backed by investors including Maurice Lévy from Publicis Groupe and Thibaud Hug de Larauze, co-founder of Back Market, aiming to support up to 30 early-stage startups in Africa and Europe.
📈 This Week’s Insights
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