Today in European Tech: Barcelona's Impress scores $50 million, German watchdog steps up monitoring of N26, Italy fines Google €102 million

Today in European Tech: Barcelona's Impress scores $50 million, German watchdog steps up monitoring of N26, Italy fines Google €102 million


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.

Worth Reading/Knowing

- 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.

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