Happy Friday!
This week, our research team tracked more than 60 tech funding deals worth more than €1.4 billion, and about 10 exits, M&A transactions, and rumours, and related news stories across Europe, including Russia, Israel, and Turkey.
As always, we are putting all of them together for you in a handy list sent in our round-up newsletter (note: the full list is for paying customers only).
Recently, we also started publishing 'Today in European Tech', a daily round-up of deals and news stories that caught our attention. Keeping you updated on all things EU tech is our priority!
Today, instead of a daily round-up we give you an overview of the 10 biggest European tech news items for the past week (subscribe to our free newsletter to get this round-up in your inbox every Monday morning).
1) Cazoo is on its way to the 'SPAC exchange'
Cazoo, the UK used-car sales portal that has been on a major fundraising tear in the last year, will list on the NYSE by way of a business combination with SPAC AJAX I; the deal values Cazoo at $7 billion.
British used-car platform Cazoo agrees to sell itself to a blank-check company for $7 billion https://t.co/gtdKmDNqS9
— Bloomberg (@business) March 29, 2021
2) Lilium to list on Nasdaq in $3.3 billion SPAC deal
Germany-based air taxi startup Lilium has announced their intentions to list on Nasdaq via a merger with a SPAC called Qell Acquisition Corp. The transaction values Lilium at $3.3 billion.
Flying taxi startup Lilium goes public via SPAC, unveils its new electric aircraft https://t.co/W8UYgywnrH pic.twitter.com/LHNgY2gY0l
— The Verge (@verge) March 31, 2021
3) Deliveroo's intensely rough public market debut
Shares in UK food delivery firm Deliveroo fell as much as 30% in its highly anticipated London IPO on Wednesday, wiping about £2.3 billion off the company's value, and dealing a blow to the city's renewed efforts to attract tech company listings.
Here’s why Deliveroo stock tanked in its IPO trading debut https://t.co/uXu4zNRSzB
— Fast Company (@FastCompany) March 31, 2021
4) Glovo grabs €450 million in fresh funding
Barcelona-based multi-category delivery service Glovo has entered the history books with a €450 million Series F funding round.
Glovo CEO Planning IPO In Next Two Years After Raising $530 Million Round https://t.co/TOhYbOHqBx pic.twitter.com/RQViqJ9lmI
— Forbes Europe (@ForbesEurope) April 1, 2021
5) Fashion marketplace Otrium nabs $120 million
Amsterdam-based unsold fashion marketplace Otrium has raised $120 million in a fresh round of funding co-led by BOND and Index Ventures, and saw follow-on investment from Eight Roads Ventures. The series C round is expected to propel Otrium’s entry to the US market, ramp up additional unsold fashion capabilities, and recruit new staff.
Thrilled to double down on our partnership with @OtriumOfficial and co-lead their $120M Series C with BOND! Max and Milan are truly building something special and industry transformative, and here I share my thoughts on our investment: https://t.co/2FpkzOD8iN
— Sofia Dolfe (@sofiadolfe) March 31, 2021
6) UK antitrust watchdog to probe Facebook-Giphy deal
Over in the UK, the watchdog CMA has referred the acquisition of GIPHY by Facebook for an in-depth investigation.
UK watchdog to investigate Facebook takeover of Giphy https://t.co/M0FJoZcQqZ
— The Guardian (@guardian) April 1, 2021
7) Grocery shopping platform Everli raises $100 million
Milan-based online grocery shopping platform Everli has raised $100 million in a Series C round.
Online grocery shopping platform Everli has secured $100m in a Series C funding round, but it’s not alone. The food delivery segment of the tech industry is set to serve up a healthy helping of market growth in the next few years. https://t.co/J6IAAmWRrF
— Verdict (@VerdictUK) March 31, 2021
8) Google's €25 million anti-fake news donation
Google will contribute €25 million to the newly set up European Media and Information Fund to combat fake news, amid criticism tech giants are not doing enough to debunk online disinformation.
Google spending $30 million to fight misinformation, fake news in Europe https://t.co/ZCJD1TM5mq pic.twitter.com/X4UVAy7m8a
— The Hill (@thehill) April 1, 2021
9) Austrian e-learning firm GoStudent secures €70 million
GoStudent, the Vienna-based e-learning startup, has completed a €70 million Series B round led by new investor Coatue together with existing partners Left Lane Capital and DN Capital, only 4 months after the increase of its Series A.
🤑 We've received an impressive 70M€ Series B #investment from our new investor Coatue together with our existing investors @LeftLaneCapital and @DNCapital! Thank you for building the top-of-mind tutoring brand in Europe with us! #edtech #startup
👉 https://t.co/4J4UjAbmPC pic.twitter.com/Jly3ldMVCk— GoStudent (@GoStudent1) March 30, 2021
10) Spotify acquired a Clubhouse-like live audio platform
Spotify will acquire Betty Labs, the company behind the Locker Room, which focuses on live audio.
Spotify acquired Betty Labs, the company behind sports-focused audio app Locker Room, to accelerate its move into live audio as new voice-based platforms see rapid growth in recent months https://t.co/7Zm9lUAg58 pic.twitter.com/z5jzjAij7H
— Reuters (@Reuters) March 31, 2021
Podcast(s):
- tech.eu Podcast #213: Intel Ignite comes to Munich, bad week for Facebook, SPACs are everywhere
- Interview Special: Jonathan Satchell, Learning Technologies Group
Bonus link(s):
- Europe’s struggle to compete in the supercomputing arena, and why it needs to go from buyer to builder
- 92% of VCs say they offer value beyond capital; founders reply, “mmm yeah no”
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