These were the 10 biggest European tech stories this week

These were the 10 biggest European tech stories this week


Happy Friday Sunday! This week, tracked 15 technology M&A transactions, one IPO and 82 tech funding deals (totalling €316.7 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) At the Web Summit in Lisbon, the European Commission and the European Investment Fund presented a new 'Venture Capital Fund of Funds' programme with the potential to attract over €1.6 billion to support the growth of small businesses across Europe.

2) Electric car and energy storage system maker Tesla has acquired Prüm, Germany-based engineering company Grohmann for an undisclosed sum to ramp up its manufacturing capabilities.

3) Google — as expected — has dismissed the European Commission's charge that the ad giant abused Android’s dominance to block its competitors in the market, stating that it has not hurt competition but represents instead a "multi-lane highway of choice".

4) US private equity firm Warburg Pincus has acquired a third of German web hosting company 1&1 Internet, which is part of United Internet, for around €450 million. The deal values 1&1 at €2.55 billion.

5) Uber rival Karhoo shut down after reportedly "blowing through $250 million" - which it never actually raised. Still, quite an abrupt end.

6) Apple tax case: Ireland to formally appeal against EU state aid ruling.

7) Swedish eye-tracking company Tobii has announced plans to invest in “large-scale initiatives” involving smartphones and virtual reality and is seeking to raise SEK 400 million ($50 million) in a new rights issue of shares.

8) A group of food takeaway couriers working for Deliveroo are taking legal steps in the UK to gain union recognition and workers' rights. It comes after two drivers for Uber won a tribunal case in which they argued they were workers not contractors.

9) Scottish Equity Partners has announced the close of its new £260 million fund, SEP V, for investing in high growth tech companies in the UK and Ireland as well as around the continent.

10) Yubl, the London-based social network that raised £16 million, has shut down.

Bonus link: Britain's nascent crowdfunding industry is at risk of "a shake out of the smaller players" in 2017 as momentum slows, according to a new industry report.

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