Norwegian energy startup Otovo raises €6.1 million in new funding

Oslo-based energy startup Otovo has raised NOK 60 million – about €6.1 million – in a funding round led by energy utility Akershus Energi and construction and housing firm OBOS alongside existing shareholders. Otovo has built a platform for distributed energy and solar panel sales online. It has created an algorithm for planning rooftop planning […]

From international sanctions to mismanagement: How Wikimart.ru went bankrupt after raising dozens of millions from international investors

Editor’s note: This post from East-West Digital News was syndicated with permission. Last month, the Russian B2C e-commerce marketplace Wikimart shut down, putting an end to a long agony. Launched in 2008 by Stanford graduates Maxim Faldin and Kamil Kurmakaev, Wikimart had the initial ambition to create a Russian analog of eBay. The project was […]

Greek voice recognition tech firm Innoetics acquired by Samsung

Greek text-to-speech company Innoetics has been acquired by Samsung. No terms for the deal were disclosed. Founded in 2006, Innoetics builds text-to-speech and voice recognition technologies and is a spin out from the Athena Research & Innovation Center in Athens. While no figures were released, the company claims the deal is the highest exit for […]

German ridesharing startup CleverShuttle secures investment from Daimler

CleverShuttle, a German on-demand ridesharing startup, has received an undisclosed investment from Daimler Buses and its subsidiary EvoBus. CleverShuttle, based in Berlin, develops on-demand transport solutions for booking shuttles where passengers travelling in a similar direction pool together for one vehicle. The app determines the fastest and cheapest routes for all the passengers. It currently […]

European VC funding hits €6.4 billion, its highest since 2007

Venture capital fundraising in Europe reached €6.4 billion last year, according to a new report, the highest since 2007. The report, entitled The Acceleration Point: Why Now is the Time for European Venture Capital, published by Invest Europe, showed that nearly 10% of this capital came from North American institutional investors while Europe’s GDP grew […]