This Week in European Tech: Kahoot buys Clever for up to $500 million, Razor Group nabs $400 million, and 2 fresh unicorns

This Week in European Tech: Kahoot buys Clever for up to $500 million, Razor Group nabs $400 million, and 2 fresh unicorns

Happy Friday!

This week, our research team tracked more than 80 tech funding deals worth more than €2 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) A Clever acquisition: Kahoot buys US edtech firm for up to $500M

Not often that a European tech company buys a US-based company for half a billion dollars, but here we are: Norway’s Kahoot this week announced that it is acquiring California-based Clever, a K-12 EdTech learning platform. The combination of two of the world’s leading digital learning platforms will set Kahoot back up to $500 million, of which up to $65 million will be paid based on performance.

2) Berlin's Razor Group looks for scale, raises $400 million

Razor Group, a Berlin-based startup buying up promising Amazon sellers and scaling them into bigger, multi-channel businesses, has closed financing of $400 million to scale.

3) A new European tech unicorn straight outta France

Paris-based AI SaaS provider to the insurance industry Shift Technology has raised $220 million in a Series D round led by Advent International. Avenir, Accel, Bessemer Venture Partners, General Catalyst, and Iris Capital also participated. With this round, Shift’s total investment to date rises to $320 million and gives the company a valuation of over $1 billion.

4) A new European tech unicorn straight outta Ireland

Fintech company Fenergo has become the third Irish tech unicorn after being valued at over $1 billion in a new deal, per Irish Times sources.

5) Acronis valued at $2.5 billion in fresh $250 million round

Schaffhausen, Switzerland-based cybersecurity firm Acronis has raised over $250 million in a new funding round from CVC Capital Partners VII and additional investors including Goldman Sachs. With this round, the company now has a valuation of $2.5 billion.

6) Mo' Money, Mo' electric trucks: Einride nabs $110 million

Sweden’s electric and autonomous freight mobility maker Einride has raised $110 million in a Series B round from new investors Temasek, Soros Fund Management, Northzone, Build Capital, and Maersk Growth.

7) Atomico co-founder raises new fund for early-stage VC firm Moonfire

Moonfire Ventures founder and former Atomico co-founder Mattias Ljungman has launched a new $60 million fund with the goal of becoming the most data-driven VC firm in Europe.

8) Hurray Oura! A $100 million Series C round for the Finnish company

Finnish fitness ring maker Oura has raised $100 million Series C funding in a round led by The Chernin Group and Elysian Park.

9) Metacore gets €150 million credit line from its neighbour Supercell

Finnish mobile games company Metacore has secured a €150 million credit line from crosstown friend Supercell. This credit line adds on two Supercell’s previous faith in the company, investing €5 million in 2018, and €15 million in 2020, as well as a €10 million credit line.

10) Intel bets heavily on expanding its tech operations in Israel

Intel will invest another $600 million in Israel to expand its research and development (R&D) and confirmed it was spending $10 billion on a new chip plant.


- Podcast #218: Eva-Maria Meijnen of Plusdental, new funds in London and Amsterdam, Bolt goes for a Drive, and more

Bonus link(s):

- From AIRR to Motherbrain: What tools VCs are using to run the operations and make decisions

- Europe's early-stage scene on Fire

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