Hello! Below, you can find out what happened today in European Tech.
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- Finnish food delivery juggernaut Wolt has raised $530 million in fresh funding to boost its growth. The round, which takes its total raised to a hefty $856 million, was led by ICONIQ Growth with Tiger Global, DST, KKR, Prosus, EQT Growth and Coatue joining as new investors.
- German used-car trading platform AUTO1 set a range of between €32 and €38 per share for its IPO, implying that its Frankfurt flotation will raise at least €1.5 billion.
- Investment firm The Carlyle Group has acquired RuneScape publisher Jagex for at least $530 million. Terms of the deal were not disclosed. The Daily Telegraph reported the deal was worth at least $530 million, which was the price paid in the previous transaction in 2020.
- British online fashion retailers Boohoo and ASOS have made major expansion moves today, with the former buying the Debenhams brand and the latter in talks to buy the key brands of Philip Green’s collapsed Arcadia group.
- Israeli B2B payments platform Melio has completed a $110 million financing round, led by Coatue at a valuation of $1.335 billion.
- Octopus Ventures is looking to launch a new £100 million institutional global fund to take advantage of the health tech market opportunity, in particular the opportunity to transform public healthcare systems across Europe and the emerging markets.
- Israeli-founded digital advertising platform Taboola is on its way to the New York Stock Exchange, with a person familiar with the move telling Calcalist that it has signed a deal to merge with ION Asset Managment’s SPAC.
- Israeli software startup Glassbox is joining other tech companies who are planning on going public on the Tel Aviv Stock Exchange. It was revealed to Calcalist that Glassbox will attempt to raise $100 million at a valuation of over $400 million.
- Israeli automated industrial and security drones developer Airobotics is taking advantage of the stock exchange tech boom to raise $50 million in an IPO on the Tel Aviv Stock Exchange at a valuation of about $240 million.
- Alma, the French fintech offering installment and deferred payment solutions for merchants and consumers, has closed a €49 million Series B financing round with Idinvest and Cathay Innovation.
- Sigma Software Group, a Swedish software development and IT consulting company, has announced the acquisition of IdeaSoft, the Ukrainian IT company that delivers integrated software solutions.
- Riverlane, a spin-out company from the University of Cambridge that develops software and algorithms for quantum computers, has raised $20 million in Series A funding.
- Darmstadt, Germany-based Wingcopter, a startup that develops and sells transport drones for humanitarian and civil applications, has raised $22 million in its Series A round of funding to advance technology leadership in drone delivery.
- 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.
- Italian consumer association Altroconsumo said on Monday it had told Apple it has launched a class action against the company for the practice of planned obsolescence. In a statement Altroconsumo said it was asking for damages of €60 million on behalf of Italian consumers tricked by the practice.
- The United States is leading rivals in development and use of artificial intelligence while China is rising quickly and the European Union is lagging, a new research report shows.
- After a decade of fierce rivalry with China's technology giant Huawei, Europe's telecoms equipment champions Nokia and Ericsson could soon face myriad new competitors to contend with.
- Bolt, the Baltic-born mobility platform, is launching Bolt Franchise to bring its urban transport and delivery services to new parts of the world. The new programme aims to expand outside the company’s core markets in Europe and Africa, to regions like Latin America and Asia.
- What Firstminute Capital looks for in tech entrepreneurs.
- Venture capital funds have joined forces with Baltic and Nordic universities, including Riga Technical University and University of Latvia to launch a unique investment readiness day for deep tech teams called Science Base Camp.
Today's Top Tweets
Good tweet summarizing momentum in the quick-commerce space! Have the usual doubts on unit economics and labor models, but am regardless keen to see a team unlock product-market-price fit in this space because the 10minute delivery experience is pretty magical https://t.co/JopWJLlQsD
— thestoooteee (@thestoooteee) January 25, 2021
We’re 10 years old! 🎉
To celebrate, let's take a look at how we got here 👇
— TransferWise (@TransferWise) January 25, 2021
In the last 10 years VC has gone from a cottage industry (compared to PE/Hedge Funds) but now it’s a global force. The success of so many founders changing our world building breakout companies has changed VC. What will the next 10 years bring for us?
— Mattias Ljungman (@Ljungman) January 25, 2021
10 points if you can get to the end of this statement from Boohoo about buying Debenhams without developing an aggressive migraine pic.twitter.com/5rbIzQ3FT4
— Tom Hourigan (@TomHourigan) January 25, 2021
👉 Projects worth €118 million selected to carry out Spain’s #research missions.
👉@EUeic awards €10.8 million to anti-infectives producer fighting antimicrobial resistance.
Read more 👉 https://t.co/6cepp7juBV pic.twitter.com/s1C56FfLQv
— Science|Business (@scibus) January 25, 2021
When we released Raspberry Pi Pico into the world last Thursday, it didn’t take long for our curious, creative crew of hackers and tinkerers to share some brilliant videos, blogs and photos.https://t.co/jvN6aOCE1O pic.twitter.com/YQEJQOx2wR
— Raspberry Pi (@Raspberry_Pi) January 25, 2021
The battle between card and account-to-account payments will define Fintech in the coming years
'the largest parking operator in the Baltics, is using the solution for in-app payments and reports paying 80 percent less on average for transaction fees.'https://t.co/nyWt467ifc
— Shaul David (@ShaulDavidUK) January 25, 2021
— Ryan Browne (@Ryan_Browne_) January 25, 2021
There's def a mini trend of male-named startups in the Baltics - MeetFrank, Alvin, Kevin, Jeff, askRobin, Klaus, Gandalf, BruceBEM
— Siim Teller (@teller) January 25, 2021
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