Startup Researcher - Europe: Week 23, 2024

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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 🌍

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

• Pasqal and IBM Partner for Quantum-Centric Supercomputing: Paris-based Pasqal is teaming up with IBM to develop 'quantum-centric supercomputing', combining quantum and conventional computing for materials science and chemistry, affirming its European roots during global expansion.

• CoreWeave's $2.2B European Data Center Investment: CoreWeave is planning to invest $2.2B in three new European data centers by 2025 to meet AI compute demands, ensure low-latency performance, and create job opportunities.

• bunq Boosts Security with AI and Deferred Payments: Amsterdam-based neobank bunq enhances security with deferred payments, AI monitoring, and safety locks, using NVIDIA's generative AI to improve fraud detection and transaction monitoring.

• EU Probes Microsoft's 365 Education Suite: The EU investigates Microsoft's 365 Education suite for privacy concerns, including alleged data misuse in schools, with potential GDPR penalties. Microsoft asserts compliance amid scrutiny.

• UK Retailers Sue Amazon for £1.1B Over Data Misuse: UK retailers sue Amazon for £1.1B, alleging data misuse and bias in the "Buy Box," highlighting concerns over Amazon's market power and its impact on smaller businesses.

💸 Top Funding Rounds

1. Aira, a heat pump startup founded by a Northvolt founder, secured €200M in debt financing from BNP Paribas to roll out its climate tech.

2. Dutch-based BioBTX secured over €80M to launch the first commercial renewable aromatics plant.

3. Austria’s Storyblok secured €73.6M in a Series C round to develop its first AI and automation-powered end-to-end content platform.

4. Swiss startup Neural Concept secured $27M in Series B funding to apply AI for faster EV design, aiming to slash design time to 18 months.

5. France-based Gireve secured €20M from Partech to enhance EV charging interoperability across Europe.

💰️ Notable Exits

• Robinhood to Acquire Bitstamp for €183.5M: Robinhood plans to acquire Luxembourg's Bitstamp for €183.5M, aiming to enhance its global cryptocurrency presence, pending regulatory approvals, with the deal set to conclude by mid-2025.

• Sirion Acquires Eigen for Enterprise AI: Sirion, valued at $1B, acquires London-based Eigen, continuing the trend of consolidation in enterprise AI tooling.

• FleetGO Acquires Data2Track: Logistics solutions provider FleetGO acquires Dutch software company Data2Track, supported by Main Capital Partners, to enhance its logistics software solutions.

• XLABS and Bright Horse Merge: Amsterdam-based XLABS merges with London-based Bright Horse to form an international Experience Management powerhouse, focusing on XLA training and consultancy.

🏦 About Investors

• Creandum Secures €500M for European Startups: Stockholm-based Creandum secured €500M from 30 global LPs, with over half from US investors, for seed and early-stage startups in Europe.

• Dreamcraft Ventures Closes €66M Fund II: Danish VC Dreamcraft Ventures closed its €66M Fund II to invest in 16 European B2B software startups.

• BlackWood Ventures Secures €14M for Early-Stage Startups: Danish BlackWood Ventures secured €14M for early-stage startups, focusing on fintech, web 3.0, and cleantech.

• VGZ Invests €6M in NLC Health Ventures: Dutch health insurer VGZ invested €6M in NLC Health Ventures to support early-stage healthcare innovations, marking its first investment in NLC.

📈 Deep Dive Bites

Norway's thriving startup ecosystem is powered by leading venture capital firms that provide crucial funding, mentorship, and strategic direction to emerging companies across various sectors. Discover the key players driving innovation and growth in Norway’s venture capital scene.

Explore the full article and learn more about Norway's top VC firms!

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Aira

Aira, a Swedish climate tech startup, specializes in providing heat pumps to customers in Europe. With a focus on reducing household CO2 emissions by over 75%, Aira offers innovative solutions to address the environmental impact of traditional heating systems.

In its latest funding round, Aira secured €200m in debt financing from BNP Paribas to facilitate the rollout of heat pumps in Germany. This funding follows a previous extension of its Series B round to €145m in January 2024, with investors including Temasek, Altor, and Kinnevik.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Creandum

Creandum, a prominent European early-stage venture capital firm, recently closed its seventh fund, amassing €500m in just 12 weeks to support seed and Series A startups across Europe. Backed by 30 global LPs, with over half the capital from US investors including major institutions like university endowments and pension funds, Creandum aims to make 35-40 investments over the next 2-3 years.

With a track record of backing over 120 companies globally, including successes like Spotify and Klarna, Creandum's investment thesis focuses on ambitious entrepreneurs with disruptive potential. Their hands-on approach provides founders with vital support, making them a trusted partner through the challenges of building a business.

 🤑 Opportunity Radar

Fintech Germany Award 2024

Calling all innovative fintech startups! The Fintech Germany Award 2024 is here to recognize and celebrate outstanding contributions to the finance industry. Since 2016, this esteemed award has honored startups and scaleups with the potential to transform the financial sector. Whether you're at the seed stage or experiencing rapid growth, seize this opportunity to showcase your fintech solutions and gain valuable recognition.

Application Deadline: June 13th, 2024

DRG4Food Open Call #2

Join the DRG4Food initiative to develop and test data-driven solutions for trust and transparency in the food sector. Submit proposals focusing on food tracking, targeted nutrition, and enhancing consumer food decisions. Consortia of 2-3 partners from different countries, including startups, SMEs, and research organizations, can apply. Funding ranges from €150,000 to €300,000 per project.

Application Deadline: June 21st, 2024