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!

Last week, our research team tracked more than 80 tech funding deals worth just over €800 million, as well as under 10 M&A transactions, rumours, 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 last week:

1) Zurich-based VC firm Lakestar has raised a total of $735 million for early- and growth stage funds that will invest mainly in Europe, while adding new faces to its top leadership team.

2) Graphcore, the Bristol, UK-based startup that designs processors specifically for AI applications, announced it has raised another $150 million in funding for R&D and to continue bringing on new customers. Its valuation is now $1.95 billion.

3) European VC firm Speedinvest has closed its third fund at €190 million, reportedly above target and ahead of schedule. Around €100 million of the new fund is set aside for follow-on funding, while the rest will go to seed-stage investments in new startups.

4) Nokia is exploring strategic options as fierce competition puts pressure on the Finnish network equipment maker’s earnings. The company is working with advisers to consider alternatives ranging from potential asset sales to mergers.

5) London-based fintech startup Iwoca has secured a €100 million credit line from Insight Investment for loans in Germany.

6) Cera Care, a London-based home care startup, has raised $70 million in an equity and debt round led by KairosHQ, a US-based startup builder, along with investors Yabeo, Guinness Asset Management, and a New York family office.

7) Berlin-based Target Global has closed a new fund, Early Stage Fund II, at €120 million. As the name suggests, the fund will go toward early-stage technology companies, leading or co-leading seed and Series A rounds.

8) London-based insurtech AI startup Tractable, which is applying artificial intelligence to speed up accident and disaster recovery by using computer vision to perform visual damage appraisal instead of getting humans to do the job, has closed a $25 million Series C, led by Canadian investment fund Georgian Partners.

9) CapitalT, a new female-led VC firm, launched its first fund of €40 million for European tech companies. Dutch founders Janneke Niessen and Eva de Mol are entrepreneurs and investors who want to identify overlooked founders.

10), the quiet London-based payment platform, has acquired its first startup, ProcessOut.

Podcast: Podcast #157: Latest news and interview with Juhani Mykkänen (Wolt) at TechChill

Bonus link: Purpose-driven Tech is how Europe will attract top talent ( op-ed)

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