These were the 10 biggest European tech stories this week

These were the 10 biggest European tech stories this week


Happy Friday!

This week, we tracked 75 tech funding deals worth more than €684 million, as well as 10 M&A transactions and 1 IPO across Europe, Israel, and Turkey.

We listed every single deal in our weekly newsletter (note: the full newsletter is now available to paying subscribers only), and here’s an extra overview of the 10 biggest European tech news items for this week:

1) On Tuesday, Nokia said it will halt work on future versions of its Ozo virtual reality camera and cut up to 30 percent of the staff in its Nokia Technologies unit.

2) Entrepreneur-focused bank OakNorth has raised £154 million from Singapore investment group The Clermont Group and others, who in total purchased close to a 16% stake in the two-year-old business, valuing the London-headquartered company at £934 million ($1.3 billion).

3) Uber launched its appeal on Friday morning against Transport for London’s decision not to renew its private hire licence. The ride-hailing service lodged papers with Westminster magistrates court, starting an appeal process that will allow it to continue operating in the capital. A hearing is likely to place on 11 December.

4) Luxury travel club Secret Escapes has raised £83 million in both equity and debt funding led by Temasek with participation from Idinvest Partners and the debt portion of the round coming from Silicon Valley Bank.

5) President Vladimir Putin said on Tuesday crypto-currencies were risky and used for crime, as Russia’s central bank said it would block websites selling bitcoin and its rivals.

6) Spotcap, a fintech startup based in Berlin, has announced a funding round of €22 million in both debt and equity financing from its existing investors.

7) German open source software firm Open-Xchange has raised €21 million from Iris Capital and eCapital to boost its growth.

8) German meal kit delivery group HelloFresh announced plans on Tuesday for an initial public offering (IPO), aiming for €250 million to €300 million ($294-353 million) in proceeds to fund growth.

9) Berlin-based professional driver service app Blacklane has acquired airport concierge startup Solve for an undisclosed amount.

10) Russian Internet giant Yandex introduced Alice, an Alexa-like assistant.

Bonus link: Q3 2017 European and Israeli exit volume drops 47% YoY, but rises 200% from Q2 2017 to €25 billion

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.