Today in European Tech: Volocopter scores €200 million, 'Budget 2021' presented in the UK, Sofinnova's new €445 million fund, and more

Today in European Tech: Volocopter scores €200 million, 'Budget 2021' presented in the UK, Sofinnova's new €445 million fund, and more


Here's what happened today in European Tech.


- Germany-based urban air mobility firm Volocopter has secured €200 million in new funding as it gears up for certification – and commercialisation – for VoloCity, its electric air taxi.

- Paris, London and Milan-based Sofinnova Partners has recently announced the closing of their oversubscribed late-stage healthcare crossover fund at €445 million. This now comprises the largest crossover investor dedicated late-stage biopharma and medtech fund in Europe.

- Atai Life Sciences, a German startup looking into ways of using psychedelic substances to treat mental health disorders, has been valued at about $2 billion in a $157 million Series D funding round ahead of its potential listing. The round was led by founder Christian Angermayer and Thiel Capital, the investment firm backed by tech billionaire Peter Thiel. Berlin-based Atai plans to hire Credit Suisse Group and Citigroup for a potential US initial public offering.

- Israeli cybersecurity startup Identiq has raised $47 million in Series A funding, with investments from Amdocs and Sony.

- UK-based cloud contact centre startup Mission Labs has been acquired by listed communications software group Gamma in a potential £46 million deal.

- Munich-based IDnow is on a mission to become one of Europe’s leading identity platforms. With the announcement of their acquisition of Identity Trust Management, the second within the last six months, the mission is clearly progressing.

- Tel Aviv-based BLEND, formerly OneHourTranslation, has closed a $10 million funding round that is expected to fuel continued growth. Previous investor Fortissimo Capital led the round.

- Euronext, the leading pan-European market infrastructure, today announced the acquisition of the remaining 40% interest in iBabs, a leading provider of dematerialised and secured board portal solutions for corporate and public organisations in Europe.

- 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

- The UK’s tech sector has hailed Rishi Sunak’s spending plans in the Budget today, saying the chancellor was “backing tech in a big way”.

- London should reform its listings rules to attract blank-check firms and tech unicorns post-Brexit, a UK government-commissioned review said Wednesday.

- Romanian blockchain startup Elrond is preparing to have its new global payments app support Bitcoin this month as it looks to rival more established rivals PayPal or Revolut, its CEO said, as it taps surging interest in crypto-currencies.

- France’s health ministry will have to defend its decision to integrate the medical portal Doctolib, which uses Amazon’s hosting services, into its online booking system for COVID-19 vaccinations before France’s top court.

- The use of micro-targeting for online political advertising could come in for new rules as part of legislation being readied by the European Commission, it has been revealed.

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