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Today in European Tech: A mega funding round for Gorillas, a $13 billion (SPAC) listing for Arrival, a Deliveroo 'revolt', and more

Robin Wauters 25 March 2021
Today in European Tech: A mega funding round for Gorillas, a $13 billion (SPAC) listing for Arrival, a Deliveroo 'revolt', and more
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Hello!

Here's what happened today in European Tech.

Deals

- Electric vehicle company Arrival has staged what is believe to be the biggest ever stock market listing for a UK tech company. Arrival completed its merger with a SPAC today, which means Arrival is now listed on the Nasdaq in New York under the ticker ARVL. Arrival's stock was listed at $22, valuing it at roughly $13 billion when the deal closed.

- Gorillas, the Berlin-HQ’d startup that promises to let you order groceries and other “every day” items for delivery in as little as ten minutes, has raised $290 million in Series B funding, at a valuation that surpasses $1 billion.

- A surge in pandemic-fuelled activity by homebound traders is propelling Dublin-based online broker AvaTrade towards a London stock market listing that could value it at up to £700 million.

- UK-based payments infrastructure provider PPRO has topped up its latest $180 million funding round with an additional $90 million investment from JPMorgan Chase and Eldridge.

- Israeli startup Starkware, which develops solutions for enlarging blockchain capacity, today announced that the completion of a $75 million financing round led by Paradigm and with the participation of existing investors Sequoia and Funders Fund, DCVC, Pantera and Wing and new investors Three Arrows and Alameda Research.

- German healthtech firm PlusDental has raised another €35 million.

- Israeli cloud-delivered endpoint and server security solutions company Morphisec today announced the completion of a $31 million financing round led by Jerusalem Venture Partners (JVP), with participation from Orange and Deutsche Telekom Capital Partners.

- In less than six months since its seed announcement, Berlin-based SellerX has raised an additional €26 million, now topping out at €130 million in available capital.

- Sweden's Fishbrain has raised an additional €26 million from SoftBank and others.

- Kompasbank, Denmark's newest bank, has closed a $22.5 million Series A financing round led by a group of the existing seed investors and a number of new investors.

- Amsterdam-based Roamler, a company that provides businesses with B2B crowdsourced solutions, has acquired Datlinq – a Netherlands-based data company that specialises in food service and food retail data.

- 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

- UK food delivery firm Deliveroo is facing a revolt from investors and riders concerned about the way it treats the latter; hundreds of couriers plan a strike next week.

- The UK’s competition watchdog announced that Facebook’s acquisition of popular GIF website Giphy raises concerns around digital ads and the supply of the short video clips.

- Europe needs to pump 300 billion euros into its telecoms infrastructure by 2025 if it wants to roll out super fast 5G across the 27-country bloc to boost economic growth and tap the potential of the technology, a report said today.

- Just 43 of the UK’s fastest-growing tech firms have floated on the London Stock Exchange in the last twenty years, according to new research.

- Call for a ‘CERN for AI’ as European Parliament hears warnings on risk of killing the sector with over-regulation.

- Deutsche Telekom and its Slovak unit on Thursday lost their fight against an antitrust fine levied nearly a decade ago by European Union enforcers after Europe’s top court endorsed the sanctions.

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Today in European Tech: A mega funding round for Gorillas, a $13 billion (SPAC) listing for Arrival, a Deliveroo 'revolt', and more
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