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 13 technology M&A transactions and 29 tech funding deals totalling €484 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) Intel has acquired a 15% stake in Here, the mapping and location services company once owned by Nokia. Here, now owned by a group of German carmakers, also sold a 10% stake to Asian investors recently.

2) Google buys Sweden's Limes Audio to fix sound quality in video calls.

3) SoundCloud’s losses grew faster than its revenues in 2015 – with the company now admitting that, should its subscription service flop, its funding may run dry this year. According to a new filing at Companies House (UK), SoundCloud’s revenues grew 21.6% to €21.1 million in 2015 – but its net losses accelerated 30.9% to €51.22 million.

Meanwhile Google may be interested in buying SoundCloud.

4) There are rumours that Outfit7, a Slovenian app maker, will be sold to a Chinese enterprise for as much as a billion euros.

5) Nokia has announced an investment in French research and development centre bcom to advance the development of 5G. No figures have been disclosed.

6) Drone giant DJI has reportedly taken a majority stake in Hasselblad, the iconic Swedish camera company, after earlier buying a minority stake.

7) Greece is setting up a new €260 million fund-of-funds to boost investments in innovative R&D and startups.

8) Israeli smart clothing startup HealthWatch has raised $20 million from the Chinese company Shijiazhuang Yiling Pharmaceuticals.

9) Swedish fashion ecommerce startup NA-KD has raised €14 million in a funding round led by Northzone with participation from Swedish fund eEquity.

10) French VC firm Alven Capital has been around since 2000 and has recently closed a brand new $261 million fund.

Bonus link: What U.S. Tech Giants Face in Europe in 2017 (NYT)

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