These were the 10 biggest European tech stories this week

These were the 10 biggest European tech stories this week


Happy Friday! This week, tracked 12 technology M&A transactions, one IPO and 86 funding deals (totalling €280 million) in Europe, Turkey and Israel.

Like every week, we listed every single one of them in our free weekly newsletter, along with interesting news regarding fledgling European startups, tech investors old and new, a number of good reads published elsewhere, government and policy news, as well as an overview of interesting lists, facts and figures from a wide variety of sources.

You can subscribe to our newsletter below to receive all this information in your inbox every Friday afternoon for free, but here’s an overview of the 10 biggest European tech news items for this week:

1) Cork, Ireland-based tech startup InfiniLED has been acquired by the Facebook-owned virtual reality company Oculus.

2) Rocket Internet-backed Wimdu is merging with its competitor, accommodation booking platform 9flats, in hopes to rival Airbnb in Europe.

3) Daniel Ek has replaced Spotify co-founder Martin Lorentzon to become both Chairman and CEO – which means Spotify likely won’t IPO in Sweden.

4) France has adopted a 'Digital Republic Act', which includes changes to laws surrounding net neutrality, data portability, video games, and copyright.

5) Navya, a Lyon, France-based company that builds electric, self-driving shuttles for use in urban areas, airports, amusement parks and whatnot, has raised €30 million.

6) Swedish media group MTG has invested in Hamburg-based online game developer, InnoGames, acquiring a 35% stake in the company at a €260 million valuation.

7) Estonian Funderbeam, a blockchain-based startup for trading in growth companies, has raised $2.6 million from Draper Associates, Thomson Reuters, and IQ Capital.

8) Founders Factory, the London-based accelerator/incubator founded by Brent Hoberman, Henry Lane Fox and Jim Meyerle, have partnered with and received a ‘multimillion pound’ investment from Chinese private equity holding CSC Group.

9) Uber will offer takeaway meal delivery services in Berlin in 2017 using bicycle courier services.

10) The crisis at Ericsson deepened on Wednesday when the world's biggest maker of mobile network equipment reported a 94% plunge in quarterly operating profit and tumbling sales.

Bonus link: Early-stage investment firm Seedcamp is having a stellar year so far, which prompted it to publicly share (excellent) performance data for its first fund, which it raised all the way back in 2007.

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