Here is what happened today in European tech:
- Online luxury fashion retailer Farfetch has secured an eye-watering $1.1 billion in funding from Alibaba Swiss watch and jewellery group Richemont. The money will be used to fuel the company's expansion to China.
- Israeli app monetisation company IronSource is reportedly gearing up towards going public in the first half of 2021. The company is said to be targeting a valuation of $7 billion to $8 billion, which could make it the biggest Israeli IPO of all times.
- Under Armour has sold the UK-founded MyFitnessPal for $345 million and announced that it will shut down Endomondo at the end of 2020.
- Cellwize, an Israeli startup in mobile network automation and orchestration, has raised a $32 million Series B funding round in its parent company Cellwize Wireless Technologies. The company is actually currently headquartered in Singapore, and its goal is said to be “to accelerate 5G in a way that is open and disaggregated.”
- Mind Foundry, an AI startup and spin-out of the University of Oxford’s Machine Learning Research Group, has raised $13.6 million in funding. The startup's product is an AI platform that's designed to help insurers predict accidents and help humans prevent them.
- 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.
- “Is Europe about to ban E2E Encryption? No.” Read a breakdown of the recently surfaced draft resolution by the Council of the European Union regarding encryption and backdoors.
- Early-stage VC Antler is opening a new office in Berlin. It will be led by Alan Poensgen, co-founder and former MD of Westwing, and Christoph Klink, former partner at McKinsey & Company.
- The Netherlands’ Deputy Prime Minister Kajsa Ollongren is arguing that the upcoming Digital Services Act has to give governments a better access to data of platforms like Airbnb.
- It looks like the UK-based challenger banks have decided to start working on achieving profitability sooner rather than later. The question is — can they get there?
- London-based fintech company SumUp is going to establish an office in Dublin as the “key regulated hub” for its payments business after Brexit.
- And here's a lead paragraph I wouldn't dare to rephrase: “The brother of the deceased Colombian drug lord Pablo Escobar and a Kalashnikov-wielding Swedish executive known as ‘El Silencio’ are suing Europe’s most valuable fintech company, Klarna, in the US.”
Tell us what you think about the above and how we can improve it! And follow us on Twitter.