Here's what happened today in European Tech.
- Israeli international e-commerce platform Global-E has raised $375 million in its initial public offering on Nasdaq, at a company valuation of $3.55 billion.
- US-based VC firm Top Tier Capital has set up its first dedicated European fund of funds, with nearly €260 million raised for the vehicle. Based out of Luxembourg, the fund launches with the support of UK government-backed BBI as an LP.
- Spanish invisible orthodontics maker Smile2Impress, or simply, Impress, has raised $50 million in a Series A round led by CareCapital.
- Omnio, an innovator in banking-as-a-service, has closed a £26 million funding round led by pan-European venture fund GrayBella Capital.
- Berlin’s academic community virtual conference and publishing platform Morressier has raised $18 million in a Series A round led by Owl Ventures. The round also saw participation from existing investors Cherry Ventures and Redalpine.
- Israeli identity and security management platform Authomize today announced the closing of a $16 million Series A financing round led by Innovation Endeavors.
- London’s carbon offset ratings provider Sylvera has raised $5.8 million in a seed funding round led by Index Ventures and saw participation from all existing investors including Seedcamp, Speedinvest and Revent.
- 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.
- US tech giant Apple is coming under increasing pressure in Brussels after the European Commission recently charged the firm with abusing its dominant position in the music-streaming market, to the detriment of smaller developers seeking to compete on a level playing field. While the Commission’s gripes in this particular case centre on the app market for music streaming services, the move is likely to open up a wider debate on the conditions imposed on developers for entry onto the App Store.
- Italy's competition regulator has fined Google €102 million for excluding an e-mobility app developed by Enel from its Android system.
- Europe has to figure out how to benefit from innovation.
- German financial regulator BaFin has ordered mobile bank N26 to fix problems with its IT monitoring and customer due diligence to prevent money laundering and terrorist financing.
- Three years after the EU’s flagship GDPR data protection regulation came into force, confusion over international data transfers following the landmark Schrems II ruling is threatening to hamper new technologies and jeopardise the bloc’s digital agenda.
- Sonos scored a point in its legal fight against Google: A German court issued a preliminary injunction against an Irish Google subsidiary for violating one of Sonos's patents.
- Indian ride-hailing firm Ola will offer its London drivers incentives to switch to electric vehicles, turning on the charm as it seeks to convince city regulators it’s fit to operate in the city.
- The Riga City Council has signed an agreement with TechHub Riga on co-financing activities of Latvian startups.
Today's Top Tweets
— Techstars (@techstars) May 13, 2021
— Samuel Stolton (@SamuelStolton) May 13, 2021
“I don’t think we’ll ever say, 'this is how the office works’ ever again'. I think it will be a constantly evolving concept.”
Eva Ducruezet, Chief People Officer, @GoCardless talks to @WiredUK about the next era of work https://t.co/eM4uC2nQ43
— Balderton Capital (@balderton) May 13, 2021
0. The European tech ecosystem is well-positioned for growth: capital availability & mobility, investor coopetition, (remote) talent pools, mentorship & education
Great panel @DebutSessions @Kieranleehill @rsohoni @cape @chrija @calfonsorico. Key insights shared: pic.twitter.com/RXyRBuEnXI
— Miruna Girtu (@MirunaGirtu) May 13, 2021
Of all the exciting plans we have brewing over at @tech_eu in the next few months, one of the most interesting ones is centered around the topic of ‘Crossing Borders’, i.e. tech companies scaling internationally (from and to Europe).
Welcome aboard @JillPetz to lead that for us!
— Robin Wauters @ Tech.eu (@robinwauters) May 13, 2021
— Nasdaq (@Nasdaq) May 13, 2021
— Mark Scott (@markscott82) May 13, 2021
Enrollment is officially open for our Selecting Startups online certificate program (June 8-15, 2021)! We’re collaborating with renowned European tech conference @VivaTech to connect promising startups with the next generation of VC leaders. Enroll today! https://t.co/6zSOytX4Bn
— VC Unlocked (@vcunlocked) May 13, 2021
Survey: Israeli startups raising funds faster, no longer dependent on relocating.
"We are seeing what the new world of Israeli tech will look like after Covid-19," said @zackw, VP and general manager of @IntelIgnite.https://t.co/4z7rnvac41
— CTech (@Calcalistech) May 13, 2021
The current demand for tech talent in Greece is through the roof and not expecting any slowdown!
A great talent reshuffling is happening across the board with the overall pool growing fast (some interesting figures to share soon). As always, great talent follows great talent.
— Greek Startup Pirate (@StartupPirateGR) May 13, 2021
— Capital Call (@CapitalCall_) May 13, 2021
Appointed as @EPPGroup rapporteur for the DSA and DMA in @EP_Economics.
Together with my colleagues we will reshape the digital landscape in Europe.#DigitalServicesAct #DigitalMarketsAct #regulation4innovation pic.twitter.com/SzLM46hvkG
— Eva Maydell (Paunova) (@EvaMaydell) May 13, 2021
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