These were the 10 biggest European tech stories this week

These were the 10 biggest European tech stories this week
These were the 10 biggest European tech stories this week

Happy Friday!

This week, our research team tracked more than 80 tech funding deals worth over €650 million, as well as some 15 M&A transactions and related news stories across Europe, including Russia, Israel, and Turkey. Meanwhile, here's an overview of the 10 biggest European tech news items for this week:

1) Sonovate, a London, and Cardiff, UK-based provider of finance and back-office solutions, has raised £110 million in debt and equity funding. The round was led by M&G Investments, MXB Holdings Inc, Dawn Capital and Rocket Internet.

2) A tech IPO! in Europe! Kahoot! shares have started trading on Oslo Stock Exchange.

3) A mere eight months after its Series A, TIER Mobility has raised a $60 million Series B round to cement its lead as the fastest growing European provider of micro-mobility solutions. The round was led by Mubadala Capital and Goodwater Capital, and brought on board AXA Germany and Evli Growth Partners as new investors.

4) International VC firm 83North announced a new fund worth $300 million. This tips the firm’s capital under management over a major milestone, totalling $1.1 billion. The fund was led by General Partner Laurel Bowden, who has recently seen four multi-billion dollar exits: Just Eat, Hybris, iZettle, and Qlik.

5) Lilium has reportedly been talking to investors to raise a big round of funding, between $400 million and $500 million.

6) The French-Belgian startup studio eFounders has announced new portfolio numbers that hit a couple significant milestones. The studio’s portfolio, which includes Front, Aircall, Spendesk, and Mailjet, has a combined revenue of over $100 million Annual Recurring Revenue (ARR). The total valuation of its 23 software companies has surpassed $1 billion.

7) As Russian e-commerce is entering a new growth and concentration cycle, Alibaba, Mail.Ru Group, Russian telco MegaFon and sovereign fund Russian Direct Investment Fund (RDIF) this week announced the completion of their e-commerce joint venture deal.

8) Einride, the Swedish company developing sustainable, self-driving vehicles, has raised $25 million in Series A funding. The round was led by EQT Ventures and NordicNinja VC, with support from Ericsson Ventures, Norrsken Foundation, Plum Alley Investments, and Plug and Play Ventures.

9) SAP said on Thursday that Bill McDermott is stepping down as CEO after more than nine years running the German software company.

10) Remarkable, the Norwegian startup behind the digital paper tablet of the same name, has raised $15 million in a series A round of funding from Spark Capital.

Podcast: Podcast #138: Pitching Pitch, German funding spike, interview with Glovo’s Sacha Michaud, the job of digital prophet, e-scooters and DUI, and more

Bonus link: A spotlight on Sweden’s Mapillary: the street-level imagery platform mapping the world’s places

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