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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 🌍
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📰 Important News
- SAP strengthened its partnership with Mistral AI to deliver sovereign, locally hosted multilingual AI on the SAP Business Technology Platform.
- JP Jenkinssecured FCA authorization as a PISCES platform and launched its Private Market, offering structured intermittent liquidity.
- ARIA appointed former DARPA cybersecurity leader Kathleen Fisher as CEO to turn its $1.6 billion breakthrough tech programs into real-world impact.
- The EU proposed delaying strict high-risk AI rules to December 2027 and easing broader tech regulations to cut red tape.
- Sorare launched a jobs safeguard plan to cut 35% of staff and close its New York office while co-founder Adrien Montfort stepped down as CTO.
💸 Top Funding Rounds
- Picnic raised $495.5 million from Edeka, Gates Foundation Trust, and others to scale automated distribution and deepen its German expansion.
- Flatpay reached unicorn status at a $1.7 billion valuation after it raised $170 million to scale its flat-rate payments platform for SMBs.
- Artios Pharma secured an oversubscribed $115 million Series D to advance its DDR pipeline, pushing alnodesertib and ART6043 toward later stage trials.
- NestAI received a combined $115.2 million investment from Nokia and Tesi, forming a strategic partnership with Nokia to scale AI defense.
- SAPI raised an $80 million mix of debt and equity to scale its payment-linked lending for underserved immigrant and women-led SMEs.
💰️ Notable Exits
- Lloyds Banking Group agreed to acquire Curve for about $157.8 million to plug its card-unifying wallet into Lloyds apps for 28 million customers.
- Spotify acquired WhoSampled to use its community-driven samples and covers database for new SongDNA discovery features.
- Nulogy bought AuditComply to add quality risk and compliance tools to its manufacturing OS, creating a unified platform for regulated manufacturers.
- GoPhoto moved toacquire Capturelife to fold its mobile-first photo delivery platform into its stack and boost mobile engagement and monetization.
- Integral acquired German payroll firm cleverlohn and lifted funding to $13.9 million to build an AI-first SME advisory platform.
🏦 About Investors
- Bitfurylaunched a $1 billion investment initiative, shifting from an incubator to a values-driven investor backing ethical emerging technologies.
- Sofinnova Partners closed its $755.3 million Capital XI fund to back early-stage biotech and medtech in Europe and strengthen its life sciences platform.
- Medicxi closed an oversubscribed $581 million Fund V to back asset-focused biotech ventures and speed development of high-conviction therapies.
- XAnge reached a $232.4 million first close for its fifth fund to back European startups in AI, frontier tech and sustainability.
- Keen Venture Partners closed over $173.9 million for Europe’s largest defense-tech fund backing startups across NATO countries.
🚀Startup of the Week
Introducing our Startup of the Week 🏆
Picnic
Dutch online grocer Picnic, founded in 2015 in Amersfoort by Michiel Muller, Frederik Nieuwenhuys, Joris Beckers, and Bas Verheijen, has built a pure-play online supermarket model with no physical stores, delivering groceries via an app and a fleet of small electric vans. The company recently raised $495.5 million from existing investors including Edeka, the Bill and Melinda Gates Foundation Trust, Hoyberg, and NPM Capital to accelerate its expansion across Germany and into new European markets, supported by highly automated, robot-enabled distribution centers. Serving about two million customers, Picnic is redefining online grocery through route-based delivery, free next-day service and a mission to make groceries fresher, faster and more affordable.
💼 Investor of the Week
Introducing our Investor of the Week 🏆
Sofinnova Partners
Founded in 1972, Sofinnova Partners is one of Europe’s longest-standing life sciences venture firms, backing more than 500 companies and managing over $4 billion from its bases in Paris, London and Milan. The firm recently closed Sofinnova Capital XI, a $755.3 million flagship fund targeting early-stage biotech and medtech across Europe and North America, backed by a global roster of institutional investors. Led by partners Antoine Papiernik, Henrijette Richter, Maina Bhaman, Anta Gkelou, Karl Naegler and Graziano Seghezzi, Sofinnova stands out for its specialist focus, multi-strategy platform and hands-on company-building model. Its mission is to turn cutting-edge science into transformational therapies that address urgent medical needs worldwide.
🤑Opportunity Radar
Call for Applications: The HAX Program
The HAX Program, run by SOSV, is a global accelerator for hard-tech startups building solutions in hardware, climate tech, health tech, industrial tech, energy, and AI. Founders gain access to investment, hands-on engineering resources, a world-class mentor network, and long-term venture support through SOSV’s multi-stage platform. The program targets pre-seed hard-tech teams with early prototypes and strong customer insight. Apply now to join a globally diverse community and accelerate your path from prototype to scale.
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