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- Startup Researcher - EMEA Weekly: Week 15
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Welcome to another edition of 🔍 Startup Researcher - EMEA Weekly, your essential digest delivering the latest news and premium insights on startups and venture capital across the region 🌍
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Without further ado, let's delve into the latest developments!
Europe
📰 Important News
Investor Jean de La Rochebrochard leaves Newwave due to disagreements with cofounder Pia d’Iribarne, turning attention to Kima Ventures for early-stage investments backed by Xavier Niel.
Paddy Cosgrave, Web Summit co-founder, resumes CEO role after 2023 step back over Israel remarks, highlighting renewed focus on mission and community-building.
Monzo CEO TS Anil challenges UK banking giants HSBC, Lloyds, and Barclays, aiming to capture "hundreds of millions" of customers with the challenger bank's global ambitions.
The European Data Protection Supervisor (EDPS) warns Europe's privacy principles are under attack from industry lobbyists amid AI acceleration.
Ukraine launches Defence Builder Accelerator, a four-month program supporting startups developing innovative military solutions, with online lectures and mentorship.
💸 Top Funding Rounds
Berlin's Zolar, a solar panel supplier, secures €100M (~$106M) asset-backed security from BNP Paribas, reflecting a trend of climate tech firms using debt vehicles for funding.
General Catalyst injects $85M into Spanish HR platform Factorial in a unique debt agreement, signaling a new financing avenue for later-stage companies, according to Factorial's CEO.
Amsterdam's unicorn neobank, bunq, raises €29M ($30.9M) from existing shareholders to support its growth plans for 2024, with €16.5m ($17.6m) already received by March 22nd.
Paris-based HysetCo secures nearly €200M ($213M) from investors led by Hy24 to accelerate the deployment of its hydrogen mobility solutions and drive urban transport decarbonization.
Helsinki-based automotive AR company Basemark secures €22M ($23.4M) in a Series B funding round to enhance driving experiences through augmented reality technology.
💰️ Notable Exits
Hootsuite, the Vancouver-based social media management platform, acquires Talkwalker, an AI-powered social listening solution from Luxembourg.
UK edtech unicorn Multiverse acquires AI intelligence platform Searchlight to enhance skill gap closure with generative AI and machine learning.
Spendesk acquires Okko to integrate procurement into its SaaS platform, aiming for end-to-end digital services management and catering to interdepartmental needs within businesses.
Alvar Pet acquires e-commerce platform Verkkokauppa Kivuton to create the Nordics' largest online store for pet health, forming a pet health superstore.
Investorflow acquires London-based property tech Coyote Software, expanding its market share in cloud software for the property sector with undisclosed financial terms.
🏦 About Investors
Quantonation secures €70M ($74.5M) for its second fund targeting quantum startups, aiming for €200M ($213M) by early 2025 to support businesses leveraging quantum computing applications.
Lakestar, known for backing Revolut and Spotify, raises $600M ($639M) to invest in European companies across deeptech, AI, healthcare, digitalization, and fintech, with separate funds for early and growth stages.
Vienna-based Elevator Ventures launches €70M ($74.5M) fund, EV II, to support fintech and banking innovation in Series A & B stage startups.
Interactive Venture Partners launches a €50M ($53.2M) fund, backed by Thomas Peterffy's family office, to support pre-seed, seed, and Series A startups in CEE.
Spanish small-business fund Aquisgrán grows to €260 million ($276M) with increased investments from ICO and EIF, supporting over 2,000 businesses across Spain.
📈 Deep Dive Bites
Uncover the stories and achievements of pioneering female VC partners shaping France's venture capital landscape through innovation. Discover more insights for free!
Middle East
Eid Mubarak🌙 to all our readers celebrating!
Last week there were no major startup updates in the Middle East region, as most of the community was celebrating the Eid.
Stay tuned for our next newsletter, where we'll resume sharing insightful news from the region's thriving startup scene.
Wishing you continued joy and success ahead!
📈 Deep Dive Bites
Explore the global payment revolution in this insightful overview of the Buy Now, Pay Later phenomenon. Discover more insights for free!
Africa
Important News
Kudigo undergoes rebranding as VerifiBuy, appointing Irina Oduro as CEO following Kingsley Abrokwah's departure from the Ghanaian fintech company
Remedial Health launches app with digital POS and barcode scanner, tailored for African neighborhood pharmacies, streamlining operations and enhancing efficiency.
Luno obtains a crypto license from South Africa's Financial Service Conduct Authority, solidifying its position in the country's cryptocurrency market
Kenyan fintech Pezesha and B2B platform MarketForce settled a legal dispute over debt through an out-of-court agreement involving intangible assets.
Binance executive Tigran Gambaryan was sent to Kuje Correctional Centre after pleading not guilty to money laundering charges.
💸 Top Funding Rounds
SunCulture, a Kenyan climate tech startup, secures $12M (part of a $27M Series B round) to expand solar irrigation for sub-Saharan farmers.
Zuri, a tech-driven African beauty startup, has secured its first institutional tech investment from Launch Africa Ventures.
Affinity Ghana gains funding from Renew Capital, strengthening its position in the market for digital lending solutions in Ghana's fintech sector.
Inputi LTD secures investment from the US International Development Finance Corporation to enhance agricultural innovation, support farmers, and drive growth in Uganda.
Tunis-based Qodek, specialized in marketing and sales process automation, raised an undisclosed amount from a Series B round.
💰️ Notable Exits
Canal+ firms up its acquisition of MultiChoice in Africa as parties officially announce the proposed deal.
WeBuyCars lists on the Johannesburg Stock Exchange, marking a significant milestone for the South African automotive company's journey.
🏦 About Investors
Verod Kepple Africa Ventures concludes Pan-African venture fund at $60M, aiming to support tech startups across the continent.
RE-TEC Solutions, a South African prop-tech firm, secures strategic investment from REdimension Real Estate Technology and Sustainability Fund.
Kora partners with Panache Ventures, aiming to boost African startups through funding, mentorship, and access to global networks.
📈 Deep Dive Bites
Explore the impact of Naira devaluation on Nigerian startups: a concise analysis revealing economic challenges and strategic responses. Discover more insights for free!
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