Startup Researcher - Europe: Week 21, 2024

Hello there,

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 🌍

If you haven't subscribed yet, now's the perfect time. Don't miss the opportunity to supercharge your understanding and stay ahead in this dynamic world.

Let's delve into the core sections of our weekly newsletter:

• 📰 Important News

• 💸 Top Funding Rounds

• 💰️ Notable Exits

• 🏦 About Investors

• 📈 Deep Dive Bites

• 🚀 Startup of the Week

• 💼 Investor of the Week

• 🤑 Opportunity Radar

📰 Important News

• French startup Pasqal sold a quantum computer to Aramco, marking the Saudi oil giant's first foray into quantum technology for energy sector exploration.

• BBVA has partnered with OpenAI, enabling employees to use ChatGPT's APIs alongside other AI tools for market analysis, aiming to boost productivity and enhance capabilities in financial services.

• R&D hub Imec secured €2.5B for advanced chip tech R&D pilot line, part of EU Chips Act, aiming to accelerate innovation and strengthen European chip industry with public-private contributions.

• Munich-based The Exploration Company won ESA contract to develop a Low Earth Orbit Cargo Return Service, boosting European space independence and competitiveness post-ISS.

• Phasecraft, a UK-based quantum algorithms company, expands to the US led by Professor Steve Flammia to access top quantum talent and deepen hardware partnerships.

💸 Top Funding Rounds

• French battery startup Verkor secured €1.3 billion loan to fund its gigafactory in northern France, contributing to Europe's electric vehicle supply chain.

• Cologne-based AI translation startup DeepL secured $300 million at a $2B valuation, following a successful year where it was among five European companies to achieve a billion-dollar valuation in 2023.

• Paris-based AI startup H, formerly known as Holistic, raised $220 million in seed funding to develop advanced foundational AI models capable of solving complex tasks.

• UK-based CIRCTEC secured €150 million from Novo Holdings and A.P. Moller Holding to build Europe's largest tyre recycling facility in the Netherlands.

• Spanish fintech Capchase secured €105 million credit facility led by Deutsche Bank for SaaS revenue acceleration, surpassing $1 billion in total financing since 2020.

💰️ Notable Exits

• Paris-based Doctolib has acquired Berlin's AI-powered phone assistant solution provider Aaron.ai to expand its presence in Germany.

• Paris-based InfraVia Capital Partners acquired a majority stake in Amstelveen-based GIGA Storage, a developer of energy storage projects.

• Belgium's recruitment platform Jobtoolz, powered by ISH, has acquired Hirehive, an Irish Applicant Tracking System (ATS) provider, expanding its offerings for SMEs.

• FE fundinfo, an intelligence provider, acquired wealth management fintech Dericon, expanding its financial data capabilities.

🏦 About Investors

• ETF Partners, one of Europe's pioneering climate-focused VC firms, closed its fourth fund at €285M, showcasing resilience amidst the tech industry and surviving the 'cleantech bubble'.

• UK-based Hg Capital acquired risk management platform California-based AuditBoard in a $3B deal, known for simplifying audit, risk, compliance, and ESG management.

• Amsterdam's Vortex Capital Partners launched a €145M tech fund to support high-growth SMEs in software and technology.

• Avvio founder Frank Reeves launched €5M fund, Voyria, for early-stage AI-focused travel and hospitality startups in Ireland and the UK.

• Maria Rotilu, Europe's first Black solo GP, launched Openseed to back operator-led startups in Europe and Africa, with an initial close at 30% of its $10M target.

📈 Deep Dive Bites

Switzerland's startup ecosystem is thriving, fueled by key investors like Foundation for Technological Innovation, Verve Ventures, and Venture Kick. Discover the top investors shaping Swiss innovation and their notable portfolio companies.

Read the full article for more insights.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Verkor

Verkor, a French battery startup founded in 2020, is revolutionizing low-carbon battery production in France for the European market. Led by CEO Benoit Lemaignan, the company is known for its cutting-edge lithium-ion batteries with high recycling rates.

Recently, Verkor secured a monumental €1.3bn loan to fund its Dunkirk gigafactory, bringing its total financing to over €3bn. This funding will support Verkor's ambitious goal of starting battery production by 2025, driving the production of 200k electric vehicles annually and solidifying its position as a key player in Europe's green transition.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

ETF Partners

ETF Partners, Europe's pioneering sustainability venture capital firm, recently closed its fourth fund oversubscribed at €285 million.

Founded in 2006, ETF Partners focuses on investing in fast-growing innovative companies across Europe that deliver positive environmental impact. With a mission to tackle climate change and support sustainable innovation, ETF Partners has a track record of successful investments and impactful exits, including recent acquisitions by industry leaders like Nabtesco and GE Vernova. Supported by institutional investors, family offices, and high-net-worth individuals, ETF Partners continues to drive positive change while delivering profitable returns for its investors.

 🤑 Opportunity Radar

Watt an Idea!

Skellefteå Kraft's 'Watt an Idea' Innovation Program invites innovators with groundbreaking ideas in renewable energy and transportation sectors to join their visionary program. Don't miss this chance to revolutionize sustainability and make a lasting impact.

Application deadline: June 1, 2024

Global Start Up Program

Italian startups, here's your chance to shine on the global stage! The Global Start Up Program, hosted by ICE and Intesa Sanpaolo Innovation Center, is seeking 70 innovative startups ready to tackle new markets. Benefit from training, mentoring, investor meetings, and networking opportunities abroad.

Application deadline: May 31, 2024