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 6 technology M&A transactions and 74 tech funding deals totalling about €450 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) Uber has formed a partnership with Yandex, the Russian search giant and operator of the ride-hailing service Yandex.Taxi. The two companies will combine their ride-hailing businesses in Russia and several other Eastern European countries under a new, yet-to-be-named company.

2) Darktrace, the UK cybersecurity company backed by Autonomy billionaire Mike Lynch, has raised another $75 million (£58 million) to fuel its growth. The tech startup, founded in Cambridge in 2013, is now valued at $825 million (£639 million). US investor Insight Venture Partners led the latest funding round, while existing investors Summit Partners, KKR, and TenEleven Ventures also participated.

3) Samsung has expanded Samsung NEXT, its venture capital arm, to Europe where it will invest in European companies through its $150 million global fund. The investment and M&A firm’s European operations will be based out of Berlin and it intends to open more European offices over the next year.

4) Greek text-to-speech company Innoetics has been acquired by Samsung. No terms for the deal were disclosed.

5) Google has ramped up its legal firepower as it prepares to do battle with EU antitrust regulators after a landmark 2.4 billion euro fine and the possibility of a second record sanction before the end of the year.

6) CleverShuttle, a German on-demand ridesharing startup, has received an undisclosed investment from Daimler Buses and its subsidiary EvoBus.

7) US/European VC firm Partech Ventures has closed its seventh venture fund at €400 million. The Partech International Ventures VII fund was oversubscribed and consists of 30 new and previous investors from Europe and the US.

8) Revolut, a fintech firm based in London, raised $66 million in a Series B funding round led by Index Ventures with the participation of Balderton Capital and Ribbit Capital.

9) XING, the leading online business network in German-speaking countries, has acquired InterNations with immediate effect. The basic acquisition price is around €10 million. This figure is expected to rise by between €8 million and €20 million from earn-out payments provided ambitious operating targets are met by 2020.

10) Squirro, a company based in Zurich, Switzerland that provides customer and business-related insight services, raised $10 million in a Series B financing round led by Orange Growth Capital. Salesforce Ventures and other investors were involved in raising the funds as well.

Bonus link: Venture capital fundraising in Europe reached €6.4 billion last year, according to a new report, the highest since 2007.

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