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

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

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.


- 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”.

Today's Top Tweets

Tell us what you think about this daily roundup and how we can improve it!

And follow us on Twitter of course.

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.