Hello and welcome to EMEA Weekly! In addition to news and insights, I come bearing gifts this week. Each month, I will share a special gift with you. For February, the gift consists of three lists of VC/PE in EMEA. Keep scrolling to find the download links, but don’t forget to get your news and insights for the week 😉 .

Africa

Important News:

• Visa has announced its collaboration with the Egyptian Banks Company to streamline the international remittance process for Egyptians residing overseas.

• South Africa is poised to join the ranks of countries offering a digital nomad visa, providing remote workers the opportunity to reside within its borders for a period of up to one year.

• Jumia has announced layoffs in various African markets, shortly after discontinuing its food delivery business, Jumia Food.

• Dr. Mahamudu Bawumia, the Vice President of Ghana, is scheduled to officially inaugurate the 'Tap & Go Transport Initiative' on February 19, 2024. The initiative aims to harmonize the informal transport sector.

• Giza Systems Foundation has partnered with EdVentures to promote innovation and advance impactful startup initiatives.

Top Funding Rounds:

• Ilara Health raises $4.2 million in Pre-Series A funding to digitalize disintegrated primary healthcare services across Africa.

• Logidoo, a startup in the logistics sector based in Morocco, has secured $1.55 million in seed funding.

• Remoteli has secured $315,000 in funding from Jeremie Frimpong, a professional footballer from the Netherlands.

• Arnergy, a Nigerian clean technology has secured $3 million in a bridge round funded by All-on.

• Moove, an African startup specializing in vehicle financing, has secured $10 million in debt funding from Stride Ventures.

Notable Exits:

• Carbon, a Nigerian digital bank, has acquired Vella Finance, a fintech startup catering to SMEs.

About Investors:

• South Africa’s Department of Economic Development and Tourism in the Western Cape has initiated the application process for its Business Technology and Innovation Support Fund.

• Injaro VC, based in Ghana, has obtained $17.5 million to invest in SMEs in both Ghana and Ivory Coast.

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Europe

Important News:

• Google introduces the AI Opportunity Initiative for Europe, unveiling a €25 million funding initiative to facilitate AI skills development.

• The Berlin startup campus Factory will shut down its largest location in the city come April.

• French unicorn Alan has generated €350 million in revenue in 2023, representing an impressive year-on-year growth of almost 40%.

• 4/5 cofounders of the German GenAI startup Nyonic have left the company due to concerns over the CEO’s intention to prioritize the Chinese market.

• The online grocery platform Everli, previously valued at over €450 million, is set to be sold for a mere €1 following a liquidity crisis and unsuccessful fundraising attempts.

Top Funding Rounds:

• Velocys, a sustainable fuels technology firm based in England, transitions to private ownership and secures €37 million in growth capital.

• Cambridge Mechatronics secures more than $40 million in investment to advance the development of its groundbreaking smartphone imaging technology.

• FINOM, a Fintech offering digital banking solutions for SMEs and entrepreneurs, announced that it has successfully raised €50 million in a Series B round of funding.

• Bob W, a Helsinki-based tech-enabled hospitality operator, has announced securing €40 million in a Series B round of funding led by Evli Growth Partners.

• Bending Spoons, a mobile app developer based in Milan has disclosed securing $155 million in an equity funding round.

Notable Exits:

• Anywhere365 acquires Deepdesk to bolster its market position through the latter's AI assistant technology.

• TreeHouse, a real estate company based in the Netherlands, acquired Properize to enhance its tenant screening services.

• HiBob, an Israeli HR solutions provider, has acquired Pento, a London-based payroll automation platform.

• Dutch startups EDGE Next and Sense by PHYSEE, have merged to form a new entity named Next Sense.

• Based in London, Signal AI a reputation and risk intelligence startup has declared its acquisition of Social 360.

About Investors:

• Earlybird Venture Capital has revealed the closure of its second HealthTech fund, totaling €173 million.

• Founderful has declared the first close of $85 million for its second fund aimed at supporting founders located in Switzerland.

• Based in Luxembourg, Full Speed Ventures, has launched a €50 million fund to support early-stage technology companies.

• Microsoft plans to invest €3.2 billion into German AI technologies.

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Middle East

Important News:

• At the World Governments Summit 2024, the UAE's ATRC unveils the 'ATRC Global Tech R&D Platform', designed to offer access to state-of-the-art technology solutions on a global scale.

• Aquanow, based in Canada, has been granted the Virtual Asset Service Provider license marking a significant milestone in its preparations to operate within the Emirate's cryptocurrency ecosystem.

• Titan Lithium collaborates with Khalifa Economic Zones Abu Dhabi to establish a lithium processing facility in KEZAD Al Ma’mourah, with an anticipated investment of $1.4 billion.

• The Ministry of Commerce in KSA has introduced tailored online services designed to aid foreign companies in establishing regional headquarters within the country.

• Hub71, the technology ecosystem in Abu Dhabi, has formed a partnership with Stride Ventures to support startups within the region by offering access to capital and mentorship opportunities required to scale their growth.

Top Funding Rounds:

• Kema, a fintech platform based in the UAE and led by Michael Ghandour, has raised a $2 million pre-seed round with participation from Speedinvest and the Dubai Foundation District Fund.

• Hope Ventures, the investment arm of Hope Fund, has invested a total of $347,000 in two Bahrain-based startups, Right Calories and Motolines.

• Exverse, a Web3 gaming platform based in the UAE, has secured $3 million in a private funding round.

Notable Exits:

• Sowt Media, an Arabic audio content network headquartered in Jordan, has acquired Rising Giants Network, a podcast producer based in the UAE, for an undisclosed amount.

About Investors:

• Globivest, a venture capital firm based in Lebanon has completed its first closing for an undisclosed amount.

• The Jordan-based Innovative Startups and SMEs Fund has made a $5 million investment in MSA Novo, a fund focusing on the Mena region.

• The Technology Innovation Institute has initiated a $300 million non-profit foundation aimed at fostering the advancement of open-source generative AI models.

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And that's it for this week! I hope you enjoyed this edition. Don't forget to download your gifts! See you next Monday.