Happy Friday!
This week, our research team tracked more than 75 tech funding deals worth more than €3.6 billion, and about 25 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) SoftBank funds AutoStore all the way to a $7.7 billion valuation
Japan’s SoftBank has acquired a 40% minority stake in Norwegian robotics and software firm AutoStore for $2.8 billion. With the purchase, AutoStore now has a $7.7 billion market value.
Japan’s @SoftBank_Group has acquired a 40% minority shareholder stake in robotics and software firm @AutoStoresystem for $2.8 billion. With the purchase, AutoStore now has a $7.7 billion market value.https://t.co/5u9LUNgILE pic.twitter.com/vH6fTSrtVa
— tech.eu (@tech_eu) April 6, 2021
2) $110 million for Israeli-built database management tech
Tel Aviv-founded database platform Redis Labs has closed a $110 million Series G funding round, now bringing the company’s valuation up to $2 billion.
Tiger Global and @SoftBank pour $310 million into @RedisLabs.
Israeli database software developer closed a $110 million series G round at a company valuation of more than $2 billion in addition to completing a $200 million secondary transaction.https://t.co/ymIHuj2CK5— CTech (@Calcalistech) April 7, 2021
3) TrueLayer raises $70 million for its open banking platform
London-based fintech scale-up TrueLayer has raised $70 million in a Series D round bringing the company’s total capital raised to $142 million.
London fintech platform @TrueLayer has secured $70M in an Addition-led Series D to build an open banking network, a concept in which banks open up their application programming interfaces for third parties to develop new apps and services.https://t.co/UVlKoZLj8y pic.twitter.com/FO32RwhnlO
— Crunchbase News (@crunchbasenews) April 8, 2021
4) There's a tough new UK regulator in town
The UK has launched a new regulatory body aimed at policing allegations of anticompetitive behavior among the world’s largest technology companies, adding another agency to a growing list of watchdogs scrutinizing how tech giants use their market heft.
Google, Facebook and Amazon face new UK regulator https://t.co/Irqv2Y2fi0
— BBC News Technology (@BBCTech) April 7, 2021
5) No code, yes funding for Berlin's BRYTER
Remote-first, but officially registered in Berlin, no-code service automation platform BRYTER has raised $66 million in a Series B round.
Excited to announce our $66 million Series B funding round led by Tiger Global with our existing investors @dawncapital , @Accel, @NotionCapital and @CavalryVC participating. So excited for the next chapter!#nocode #serviceautomation #seriesbhttps://t.co/9wKi0ivFVp
— BRYTER (@BRYTER_io) April 7, 2021
6) Max Schrems accuses Google’s Android of illegally tracking users
The Austrian privacy activist Max Schrems has made yet another complaint about a Silicon Valley giant—this time it's Google and its Android mobile operating system, which Schrems and his data-protection organization say illegally tracks Android users.
🔴 We filed a complaint against Google: The Android Advertising Identifier (AAID) allows Google and all apps on the phone to track a user and combine information about online and mobile behaviour. https://t.co/NA8RVudSeo
— noyb (@NOYBeu) April 7, 2021
7) Index Ventures presents its new seed-dedicated fund
European VC firm Index Ventures has announced the close and launch of a new $200 million dedicated seed investing vehicle it’s dubbed Index Origin.
Today, @indexventures launches Index Origin, a dedicated $200m seed fund. It is designed as a highly collaborative fund, partnering with other seed funds, solo GPs and angels to support the next generation of startups. From the first check to IPO. https://t.co/BU7ehOXgaw pic.twitter.com/JpuLfKqMq7
— Jan Hammer (@janatindex) April 8, 2021
8) Allfunds to go public in Amsterdam in "momentous" IPO
Madrid-based wealthtech scale-up Allfunds is targeting a valuation of over €7 billion from a planned Amsterdam IPO. As of 31 December, 2020, Allfunds had over €1.2 trillion of assets under administration, and €370 million in revenue.
Fund-distribution business Allfunds plans an initial public offering in Amsterdam, adding to the Dutch city’s growing clout as a listing venue for European issuers https://t.co/GyxNuPRxoK
— Bloomberg Asia (@BloombergAsia) April 7, 2021
9) Auxmoney gets €250 million for lending
Germany-based digital consumer lender Auxmoney has secured a €250 million funding deal with Citigroup and Chenavari Investment Managers.
Some great news:
👉 @Citi and Chenavari invest €250 million into loans on our marketplace
🚀 with this significant investment, auxmoney provides even more people with access to affordable credit
Read more in today’s press release 👇https://t.co/BRxONxxC9B— auxmoney (@auxmoney) April 8, 2021
10) AXA Venture Partners en route to a new €500 million growth fund
Paris-based AXA Venture Partners (AVP) has completed a €250 million first closing of its new AVP Growth Fund II. By year’s end, the final closing is expected to bring in €500 million.
🚨 New fund from 🇫🇷 France
AXA Venture Partners (.@AXAVentures) announced a new €250M fund 'II' backed by undisclosed LPs.
Focus: Generalist at Growth stage.https://t.co/zDN41Y9Fzv— euroVC bot 🇪🇺🚀 (@Euro_VC) April 7, 2021
Podcast:
- tech.eu Podcast #214: Thrasio’s Carlos Cashman, TIER and Kahoot! go shopping, $2.8 billion for robots, and more
Today's episode is served in the podcast app near you!
🎤 Carlos Cashman, co-founder & co-CEO @thrasio, talks about spatulas (and other things),
💵 @IndexVentures's new Origin fund,
💰 @tierscooters acquires Makery, @GetKahoot buys Motimate,
& more!https://t.co/oDNXyZlyHm— tech.eu (@tech_eu) April 9, 2021
Bonus link:
- We dove into our database to capture all the funding deals — as well as IPOs and M&A — that minted new European unicorns in the first three months of 2021. To make things easier, we counted all startups whose valuation surpassed one billion US dollars, euros, or pounds — and found 27 of them!
🗣️" In the first quarter of this year we noticed a significant number of startups entering the unicorn territory — a metric that may be showing the maturity of the ecosystem" 🦄
Via @tech_eu 👏https://t.co/VvttIFx3ah— Allied for Startups (@Allied4Startups) April 8, 2021
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