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

• The UK government has announced plans to cut £1.3 billion ($1.66B) in funding for tech and AI, including £500 million ($639.32M) for AI research and £800 million ($1.02B) for an Edinburgh supercomputer.

• Infarm, once a leading vertical farming startup, has resurfaced with a new focus on growing kosher salad leaves, while still facing legal issues from its previous operations.

• UK neobank Monzo lagged behind most UK banks in reimbursing customers for authorized push payment fraud in 2023, with upcoming new UK regulations mandating reimbursement for APP fraud claims.

• The European Commission’s NGI TrustChain initiative has awarded an additional €1.8 million ($1.97M) in grants to 15 European startups to tackle online misinformation and false identities with blockchain.

• Spain’s competition authority, CNMC, has fined Booking.com €413.24 million ($451.3M) for abusing its market dominance after an investigation revealed it imposed unfair terms on hotels.

💸 Top Funding Rounds

• Flo Health, the world's most downloaded women's health app, has raised over $200 million in a Series C funding round led by General Atlantic, bringing its valuation to over $1 billion.

• Germany-based ESG platform Osapiens secured $120 million in Series B funding led by Growth Equity at Goldman Sachs Alternatives.

• Paris-based Morpho has secured $50 million in funding from Ribbit Capital and other strategic partners to advance its decentralized crypto lending and borrowing protocol on Ethereum.

• Barcelona-based Wallbox has raised $45 million through the private placement of 36,334,277 Class A shares, with the transaction set to close on August 5, 2024.

• Berlin-based MYNE, specializing in co-ownership for premium vacation homes, secured €40 million ($43.86M) in Series A funding led by Limestone Capital AG.

💰️ Notable Exits

• Berlin-based sennder, a digital road freight forwarding unicorn, has acquired C.H. Robinson’s European Surface Transportation operations, enhancing its capabilities in global logistics.

• Milan-based Bending Spoons has acquired WeTransfer, the Dutch digital file-sharing and collaboration platform.

• Legaltech Litera has acquired Filetrail, a SaaS for information governance and records management, to enhance its suite of legal tools.

• Outbrain has agreed to acquire French company Teads, the omnichannel video platform, from Altice for approximately $1 billion.

• ThetaRay has acquired European screening company Screena, to enhance its AI-powered financial crime detection technology.

🏦 About Investors

• Kennet, a transatlantic growth equity investor, has raised €266 million ($290.5M) for its largest fund, Kennet VI, and has already begun deploying capital into B2B SaaS companies across Europe, including Screendragon and Fluid Topics.

• XAnge, a leading French VC firm has paused fundraising for its first crypto VC fund despite a recovering Web3 market.

📈 Deep Dive Bites

Dive into the heart of the UK's vibrant venture capital landscape, where innovation meets investment. From London-based giants to regional powerhouses, this comprehensive guide profiles 20 of the most active and influential VC firms shaping Britain's entrepreneurial future.

🚀 Startup Of the Week

Introducing our Startup of the Week 🏆

Flo Health

Flo Health, the world's most downloaded women's health app, has secured over $200 million in a Series C funding round led by General Atlantic, propelling its valuation to over $1 billion and earning unicorn status. Co-founded by Dmitry and Yuri Gurski in 2015, Flo has grown to serve over 380 million users globally as of mid-2024. The funding, which marks the joint-biggest raise for a femtech alongside US-based Prelude Fertility, will be used to expand into new user segments such as perimenopause and menopause, as well as invest in R&D for AI-driven personalized insights tools. As Europe's first femtech unicorn, Flo's success highlights the growing importance and potential of women's health technology in the global market.

💼 Investor of the Week

Introducing our Investor of the Week 🏆

Kennet

Kennet Partners, a transatlantic growth equity firm founded in 1997, has recently raised €266 million ($290.5M) for its largest fund to date, Kennet VI. The firm specializes in investing in established, capital-efficient B2B SaaS and tech-enabled services companies, typically providing the first external funding for founder-owned businesses. Kennet has already begun deploying capital from this new fund, investing in companies like Screendragon in Ireland and the UK, and Fluid Topics in France. With a focus on helping companies scale, expand internationally, and build strategic value, Kennet offers more than just capital – it provides direct support in areas such as strategy formulation, business development, and executive recruitment. The firm's approach has led to successful exits, including the recent sale of Eloomi to Ceridian, demonstrating Kennet's ability to build global market leaders and achieve high-value returns for its portfolio companies.

 🤑 Opportunity Radar

Birdhouse - Tech in Belgium

Pre-register for Birdhouse's 16th cohort by September 23rd, 2024, to accelerate your startup's growth in Belgium. Access a €75,000 ($82K) investment and a dedicated group of mentors and advisors to propel your business forward. The Birdhouse accelerator program, created by entrepreneurs for entrepreneurs, offers a unique opportunity to join a community focused on exponential business growth. This program is ideal for ambitious startup founders looking to take their venture to the next level. Begin your pre-registration process today and prepare to join the dynamic Birdhouse startup community, with the program kicking off in November 2024.