Today in European Tech: VC funding picks up in Q3, LearnUpon nabs $56 million, Pitch launches and other deals/stories that caught our eyes

Today in European Tech: VC funding picks up in Q3, LearnUpon nabs $56 million, Pitch launches and other deals/stories that caught our eyes

Hello! Here is what happened today in European tech:


- Dublin-based LearnUpon, which offers e-learning solutions to corporates to use for development and training, has raised $56 million from a single investor, Summit Partners.

- The rapid rise in the share price of Germany's TeamViewer has apparently inspired its major shareholder to make cash. The investment vehicle TigerLuxOne, advised by Permira, has announced the successful sale of more than 11% of the share capital of the provider of remote maintenance and video software (gross proceeds are just under €1 billion).

- Lanistar, a UK challenger bank hopeful, has landed £15 million in funding from family members of its CEO, Gurhan Kiziloz. The startuup says the new capital injection puts its valuation at £150 million.

- Decentriq, a Swiss enterprise data security company, has raised a $3.8 million seed round led by btov Partners, with backing from Paladin Capital Group and existing investor Atlantic Labs.

- Splunk today announced that it has completed the acquisition of Plumbr, an Estonian application performance monitoring company.

- Vectary, a Bratislava-founded design platform for 3D and AR, has raised a $7.3 million round led by European fund EQT Ventures. Existing investor BlueYard also participated.

- Epsilon, a Singapore-based connectivity service provider, has acquired 7D Digital, a UK company that develops and designs software.

- Polish martech company Edrone has raised €4.5 million euros in its first funding after bootstrapping for the last four years.

- Insha, a Berlin and Istanbul-based banking startup that dubs itself ‘the account with principles’, has raised €2.5 million in a seed round led by Param, a Turkish payment service provider. The fintech startup will use the funding to expand across Europe, localise and develop its product as it grows, and to hire new employees in both cities.

- Russian billionaire Oleg Tinkov has reportedly sold his stake in, a major Russian finance and insurance marketplace, to Baring Vostok and Goldman Sachs. The terms of the transaction were not disclosed.

- Soleadify, a Romanian startup that uses machine learning to create profiles for businesses in any industry, has secured $1.5 million in seed funding from European venture firms GapMinder Venture Partners and DayOne Capital, as well as several prominent business angels.

- We also tracked a large number of (other) European tech funding rounds and M&A transactions, all of which we are putting in a handy list for you on Friday afternoon in our weekly roundup newsletter (note: the full list is for paying customers only). Also check out our European tech news section for ongoing coverage.

Worth Knowing

- Overall, European venture funding is down 17% for the first three quarters of 2020 compared with the peak funding year of 2019, according to Crunchbase Data.

- Microsoft today announced a 'significant commitment to drive local innovation and growth in Austria', including plans to establish its first datacenter region in the country. The company also announced a new 'Center of Digital Excellence' to modernize Austria’s IT infrastructure, public governmental services and industry innovation. The company cites research that says the investment in a new cloud region in Austria will help generate up to $2.1 billion in new revenue in its ecosystem over the next four years.

- After two years of building and a year-long beta that included more than 25,000 teams, and backed by more than $50 million in funding, the content collaboration and presentation software Pitch launched to the public today.

- UK startup bank Monzo has launched its second paid-for account in three months, as the startup seeks new ways to make money and stem losses. Monzo today announced the launch of its new “Premium” service — a £15-a-month account that carries a range of benefits, such as travel and phone insurance, and offers a solid steel card.

- Swedish regulators have banned the use of telecom equipment from China's Huawei and ZTE in its 5G network ahead of the spectrum auction scheduled for next month.

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