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Today in European Tech: Facebook News lands in the UK, Twitter buys Revue, Snap buys Ariel AI, Algolia buys MorphL - and much more

Robin Wauters 26 January 2021
Today in European Tech: Facebook News lands in the UK, Twitter buys Revue, Snap buys Ariel AI, Algolia buys MorphL - and much more
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Hello! Below, you can find out what happened today in European Tech.

But before you do: are you, or do you know someone, who can help us keep track of these things? We're hiring a tech journalist/news editor to expand our team and coverage.

Also, we just released our latest report on the State of European Fintech - download it free of charge now.

Deals

- SAP is in talks to acquire German enterprise software company Signavio as it seeks to expand its cloud offerings. An agreement to acquire Berlin-based Signavio could be announced as soon as this week, according to Bloomberg sources, and the deal could value the company at €1 billion.

- Online greeting-card retailer Moonpig and its shareholders plan to raise as much as $524 million in an IPO in London, part of a rush of European companies looking to capitalize on robust stock markets and pandemic-fueled sales growth.

- Twitter has acquired Revue, a newsletter platform based in Utrecht, the Netherlands. The financial details of the deal have not been disclosed. Over the course of its existence since 2015, Revue has raised €400,000 and kept a minimalist team of six people.

- France-born ‘search-as-a-service’ company Algolia has acquired Morphl, a Bucharest, Romania-based AI tech startup that was funded by Google through the US tech giant’s Digital News Initiative.

- Snap has reportedly acquired Ariel AI, a UK-based computer vision startup set up by ex-Facebook and Google scientists.

- London-based customer data and experience platform Exponea has been acquired by a Silicon Valley firm. Bloomreach, which has developed a digital commerce experience platform, says it is poised to be the next eCommerce SaaS unicorn following the deal and a $150 million funding round.

- Shell has announced it will acquire the entirety of ubitricity, a Berlin-based startup that has built a network of on-street chargers for electric cars. Subject to regulatory clearance, the deal is expected to close later this year.

- Run:AI, an Israeli software company that helps enterprises and large research centres make the most of their AI infrastructure, has raised an additional $30 million in funding. The Series B round was led by Insight Partners, with participation from existing investors TLV Partners and S-Capital, bringing the startup’s total financing to $43 million.

- Sheffield-based VC Angel CoFund has announced that the firm is rebranding to ACF Investors and launching a new fund dedicated to startups across the UK. Known as the Delta Fund, its initial close lands at £30 million.

- Berlin-based Remagine, a financing platform offering banking services to high-growth companies with an ‘impact’ twist, has raised €20 million in a seed funding round.

- French alternative lender October has scooped a €20 million boost to its latest fund from Italian digital lending platform Cassa Depositi e Prestitir (CDP).

- The Luxembourg Stock Exchange has acquired a 22.8% stake in local data handling startup Tetrao. Using robotic cognitive automation, Tetrao’s technology simulates human behaviour to identify, read and understand complex information from websites and documents.

- Paris-based cloud communications provider Ringover has closed a €10 million Series A round, the company’s first venture funding since it got started as a telecom operator back in 2005. Expedition Growth Capital, a new London VC, was the sole investor.

- 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 Reading/Knowing

- Data company PitchBook today released its 2020 Annual European Venture Report, sharing key funding and exit stats and insights to (once again) recognise European Tech’s record year – as well as its challenges ahead. In a year that will forever be remembered as the year of the coronavirus outbreak, PitchBook says the European tech ecosystem actually more than held its own, with VC deal value hitting a new annual record of €42.8 billion across 9,341 deals.

- Norway’s Data Protection Authority plans to fine dating app Grindr 100 million Norwegian crowns ($11.7 million) for what the regulator said was illegal disclosure of user data to advertising firms.

- Facebook has announced it will start rolling out its Facebook News product in the UK, and will pay publishers for their content.

- According to the Israel Export Institute, technology services exports rose by 11% in 2020 to $37 billion, double the figure for 2014.

- IT consulting group Atos and OVHcloud are partnering to offer fully European-led cloud computing services, the two French groups have said.

- VC firm Atomico has announced three promotions: Ben Blume to Partner, and Hillary Ball and Luca Eisenstecken to Principal.

- TrueLayer, a UK-based open banking provider, has launched its payments application programme interface (API) to rival cards. Called PayDirect, the new product “combines one-click verification with instant deposits and withdrawals”.

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Today in European Tech: Facebook News lands in the UK, Twitter buys Revue, Snap buys Ariel AI, Algolia buys MorphL - and much more
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