These were the 10 biggest European tech stories last week

These were the 10 biggest European tech stories this week


Happy Friday!

Last week, we tracked 63 tech funding deals worth more than €887 million, as well as 9 M&A transactions and across Europe, including Russia, Israel, and Turkey.

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

1) After announcing its intention to go public in May, Adyen this week published more details with the finances filled in. The Netherlands-based payments startup — which competes against the likes of PayPal and Stripe to power payment services both to online and physical retailers — said that it will be raising between €922 million and €947 million (approximately $1 billion and $1.1 billion) June 5-12, before it opens for trading on the Euronext Amsterdam on June 13 trading as “ADYEN”.

2) Uber will roll out its on-demand electric-bicycle service to Europe, as it seeks to expand its international offerings to include more environmentally-friendly forms of transportation. On Wednesday, the company said it aims to bring its 'Jump' bike rental service to Berlin before the end of this summer, with other European cities to follow soon after.

3) Portugal’s OutSystems, a platform which allows users to build software applications with minimal coding, has raised $360 million from Goldman Sachs and US investment firm KKR, valuing it at more than $1 billion.

4) The European Commission proposed to create the first ever Digital Europe programme and invest €9.2 billion to align the next long-term EU budget 2021-2027 with increasing digital challenges. The five key areas: high-performance computing, artificial intelligence, cybersecurity and trust, advanced digital skills and 'ensuring their wide use and accessibility across the economy and society by businesses and the public sector alike'.

5) Gett, an Israel-based developer of a taxi-hailing app, announced Thursday an $80-million funding round from Volkswagen and other previous investors in a deal that takes the company’s valuation to $1.4 billion. The investment of cash brings Gett’s total equity funding to about $700 million.

6) Spotahome, a Madrid-based home rental startup, has raised $40 million in funding in a round led by Kleiner Perkins Caufield & Byers. Founded in 2014, the company has picked up a total of $64 million to date.

7) Finance ministers of the European Union’s three Nordic countries have urged their partners to shelve a plan to tax large corporations for their digital turnover, saying it could damage the European economy.

8) Spotify really does want to make its own hardware: the company registered with the FCC on Tuesday, a key prerequisite to getting devices approved for use in the US. Previous reports pointed to plans for an in-car device, capable of bringing Spotify streams to older vehicles.

9) Target Global, an international VC firm headquartered in Berlin, has announced a new mobility and transportation-focused fund to target startups in Europe and Israel. The “evergreen” fund doesn't have an end date and can deploy up to $300 million in capital over its lifetime. For the first year, it already has $100 million in commitments.

10) Tallinn and London-based Starship Technologies announced the closure of a $25 million funding round to expand and deploy its fleet of robots designed to carry out deliveries. Starship previously committed to putting 1,000 robots in circulation by the end of the year.

Bonus link: Report: European seed investors jump at AI and SaaS startups but shun e-commerce

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