The fourth edition of EMEA Weekly's Startup Researcher is here, and it's brimming with thrilling news from around the region. This week was particularly eventful, with H2 Green Steel bagging a whopping €4.5 billion in funding, Core Dao launching its African Innovation Fund, and UAE’s DXwand nailing their Series A funding round. So let's not waste any more time and delve right into these exciting developments!

Africa

Important News:

• Treepz has transported over 4 million passengers since its inception, reaching an important milestone.

• Twiga Foods and Incentro have mutually agreed to resolve their debt dispute outside of court.

• SafeBoda has officially announced that it will resume its services in Kenya starting February 10, 2024, a year after exiting the market.

• Smile ID has revealed its accomplishment of conducting the 100,000,000th identity verification and has also presented Africa's inaugural report on Identity Fraud.

• Moniepoint has handled over 5 billion transactions, amounting to over $150 billion. This marks a substantial increase from the $100 billion processed in the preceding year.

Top Funding Rounds:

• Crealo, a copyright-management platform in Morocco, has secured $1.42 million in Seed funding from various investors, including the 212Founders program by CDG Invest.

• Kenyan agri-tech startup, Shamba Pride, has secured a total of US $3.7 million in pre-Series A funding, combining both debt and equity, to fuel the company's expansion.

• Cairo-based beauty and wellness startup, Mira, has secured $200,000 in funding from Wingoo Investment and Technology.

• OfferZen has successfully closed €4 million in pre-Series B funding.

About Investors:

• Core DAO has launched the African Innovation Fund, a $5m fund to provide resources and networks to for local Web3 builders and projects across the continent.

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Europe

Important News:

• Seedrs, the UK-based crowdfunding platform, is reducing its European workforce by 15% and closing offices in Spain and Sweden.

• London-based nuclear energy startup Newcleo, swayed by Emmanuel Macron has abandoned its initial plans to construct its first power plant in Britain, choosing instead to invest in France.
  The European Union is advocating for measures to protect deep tech startups from potential takeovers by Chinese entities.

• Storytel, a lead audiobook streaming service, is streamlining its operations by reducing its workforce by 13% to prioritize profitability. The company is also scaling back investments in markets that are not meeting performance expectations.

• Personio, the German HR tech firm, has officially announced the layoff of approximately 100 employees from its Product and Tech Department.

Top Funding Rounds:

• ElevenLabs, a Voice AI startup, had secured $80 million in funding from a16z and Sequoia, propelling it to unicorn status.

• H2 Green Steel, a Swedish company, has obtained €300 million in equity and €4.2 billion in debt funding to facilitate the construction of a green steel plant in northern Sweden.

• The Barcelona-based unicorn, TravelPerk, has secured $104 million in funding to enhance its business travel platform with AI-powered features, elevating its valuation to $1.4 billion.

• Infinite Roots has secured the largest funding round for a mycelium company in Europe, raising $58 million in a Series B round.

• Instagrid has revealed the completion of a $95 million Series C funding round. With this latest funding, the startup has now raised over $145 million.

Notable Exits:

• Welcome to the Jungle, a French branding and recruitment platform, has announced its acquisition of Otta, a London-based job search platform.

• TapNation, a mobile games developer and publisher based in Paris, has acquired UAhero, an AI-powered user acquisition and monetization platform.

• Allianz Direct has acquired the French home insurance business of Luko for €4.3 million. This acquisition was prompted by the judicial reorganization of Luko's parent company, necessitating a swift search for a buyer that would comply with the court's requirements.

About Investors:

• Cherry Ventures has promoted Dinika Mahtani to partner, where she will continue to lead the firm's UK investment strategy.

• Plural, a London-based venture capital firm, has raised €400 million for its second fund.

• Launchbay Capital is initiating a new $100 million fund to capitalize on secondary investments in growing companies, expressing concern that individuals may soon face limited choices in the market.

• Smedvig Ventures has concluded the fundraising for a new fund, securing €115 million to support B2B startups across Europe.

• Expansion, Charles Beigbeder's new fund dedicated to aerospace, has achieved an initial closing at €100 million, supported by a €60 million investment from the European Investment Fund.

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Middle East

Important News:

• Thndr Securities Brokerage has obtained a research license, broadening its service offerings to include expert investment recommendations through Rumble.

• Thara company has been granted a license by the Saudi Central Bank (SAMA) to offer crowdlending solutions.

Top Funding Rounds:

• Takadao, a fintech startup in Saudi Arabia and Singapore, has secured an undisclosed investment from Adaverse.

• Crysp Farms has successfully raised $2.25 million in a Pre-Series A funding round.

• Qatar-based fintech firm KARTY has secured $2 million in a Seed funding round.

• The investment arm of Hope Fund, alongside the producer of the entrepreneurship-themed reality TV show Beban, has committed to investing $500,000 in the Omani startup Innotech.

• AI startup DXwand has completed a Series A funding round, securing a total investment of $4 million. This funding round was led by Shorooq Partners and Algebra Ventures.

About Investors:

• UAE Crypto investment firm Cypher Capital has led a $2.4 million investment round in the German blockchain company bitsCrunch.

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As we wrap up the fourth edition of EMEA Weekly's Startup Researcher, we mark the end of another week delving into the vibrant startup scene in the region. We look forward to what lies ahead with great enthusiasm and value your ongoing participation. Keep an eye out for more riveting narratives, astute analyses, and unique features in our forthcoming editions. Until we meet again next week, enjoy your reading and keep that inspiration alive!