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 11 technology M&A transactions, 1 IPO and 63 tech funding deals totalling about €373.2 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) SoundCloud has laid off 40% of its staff, or in other words cut 173 of its 420 employees, in addition to closing its offices in San Francisco and London.

2) UK payment processing firm Worldpay is set to merge with US rival Vantiv in a deal which would value the company at £9.1 billion, including debt.

3) London VC firm Felix Capital has announced the closing of its second fund at $150 million.

4) SoftBank Vision, a giant technology fund backed by Apple and the Saudi Arabian state, is in talks to buy a stake in the UK's Deliveroo.

5) Symantec is acquiring Israeli cyber security startup Fireglass for an undisclosed sum.

6) A month on from its previous round of funding, flying car startup AeroMobil has secured a fresh injection of capital from InfraPartners Management (IPM). The Slovakian company is developing a vertical take-off and landing (VTOL) flying vehicle that it claims it will deliver to customers by 2020.

7) All Volvo car models launched after 2019 will be electric or hybrids, the Sweden-based (but Chinese-owned) company said on Wednesday, making it the first major traditional automaker to set a date for phasing out vehicles powered solely by the internal combustion engine.

8) Tide, a UK-based fintech company that provides mobile banking solutions for small and medium business customers, raised $14 million in a Series A funding round. The round was led by Anthemis and Creandum.

9) Swedish solar energy startup Sol Voltaics has raised $21.3 million in funding for its nanowire technology for solar panels.

10) French tech accelerator Axeleo has closed its latest accelerator fund, Axeleo Capital I, at €25 million to invest in early stage enterprise technology startups.

Bonus link: Estonia is trying to convert the EU to its digital creed (The Economist)

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