Here's what happened today in European Tech.
- Berlin-based digital insurance company Wefox has raised $650 million in a Series C round led by Target Global. The record-setting round also saw participation from new investors FinTLV, EDBI, LGT via Lightrock, Partners Group, Jupiter, Decisive Wealth, and Ace & Co.
- Manchester-based connected vehicle data company Wejo, which is backed by US giant General Motors, has outlined plans to go public through a reverse merger. The company has made the deal with Virtuoso Acquisition Corp in a move which values the British company at $800 million.
- London-based pet insurance provider Bought By Many has raised $350 million in a Series D round led by EQT Growth. The round also saw the participation of Octopus Ventures and Munich Re Ventures.
- Cinven, the UK buyout house, agreed to buy a controlling stake in German software company think-cell.
- France's Malt, which provides a way for developers, data scientists, designers, project managers and others working in related fields to connect with fixed-term job opportunities in their fields, has picked up €80 million in funding.
- Germany-based Sennder, a digital freight forwarder that focuses on moving cargo around Europe, has raised $80 million in funding, at a valuation of over $1 billion.
- 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.
- Germany's privacy regulators have launched a crackdown on international data transfers.
- The EU is set to unveil plans for a bloc-wide digital wallet, following requests from member states to find a safe way for citizens to access public and private services online.
- Tech.eu Podcast: The world of invisible insurance with Meeri Rebane, INZMO.
- Today Russian lawmakers backed a bill that would force foreign Internet companies to set up local offices or face harsh penalties, including an outright ban. The bill was passed on the first of its three required readings, parliament’s lower house said in a statement.
- Swedish investment firm EQT is using its artificial intelligence-based deal sourcing tool, Motherbrain, to boost funding for more diverse startup teams. Last year, EQT tweaked Motherbrain’s algorithms to prioritize companies with a female founder, and now screens twice as many of these businesses each week, according to partner Henrik Landgren.
- New EIB report: €10 billion investment gap in AI and blockchain technologies is holding back the European Union.
- Daimler and Nokia have signed a patent licensing agreement. Under the agreement, Nokia licenses mobile telecommunications technology to Daimler and receives payment in return.
- Financial technology firm Wise said Tuesday that users in India would now be able to send money abroad to 44 countries around the world.
- Crowdcube, the UK crowdfunding business, will launch a platform for retail investors to participate in initial public offerings to tap into expected new demand as government ministers consider plans to reduce the institutional dominance of London listings.
- The Future Of Internet Shopping Might Not Be Home Delivery.
- Digital connectivity is a precondition for achieving the EU digital agenda, but filling the existing digital gap will require a concerted approach among policymakers at the EU and national level and coordination with private providers.
Today's Top Tweets
We're excited to see wefox expand their global footprint with this latest round of funding and continue the journey to become the world's leading personal insurance company.
We backed @julian_teicke and the team in 2015 to take digital insurance to the next level #Throwback pic.twitter.com/q1oKXdRsxQ
— seedcamp (@seedcamp) June 1, 2021
Hunting for more innovators in the B2B software automation space -- Kicking off the third annual UiPath Automation Awards:
>> https://t.co/OFbX5qbNdT@UiPath @WolvesSummit @Neurolabs1 @salesbook_app#uipath #software #automation #awards #wolvessummit pic.twitter.com/h1RfOdC99Y
— Tech.eu (@tech_eu) June 1, 2021
#18 VIEWS w/ @garystew
Jamaican raised in the Bronx
Magna Cum Laude @Yale
Employee #2 & Director @Wayra
️Serial founder with 1 exit
Great chat on the exp of leading @WayraES @WayraUK and why diversity initiatives like @INCLUDED_VC matter !https://t.co/piJKRza89K
— Pol Fañanás (@polfananas) June 1, 2021
A$AP Rocky is joining Snoop Dogg and Lady Gaga (?) as an investor in @Klarna because reasons.https://t.co/FkKLfI4FAv
— Robin Wauters @ Tech.eu (@robinwauters) June 1, 2021
A few of you probably knew (or beta-tested), but it's official. We launched our web school. The first #online #training program is for startups in the "zero to one" zone.
We still keep things a little bit under the radar for now, but hey, you can DM me https://t.co/drQ4OFHArj
— Philippe MÉDA (@icopilots) June 1, 2021
Digital Services Act: First signs of alignement between Parliament and Council to crack down on Amazon, eBay, Alibaba. Last week, France pitched new obligations for online marketplaces. This week, Christel Schaldemose also recommends more requirements for e-commerce platforms.
— Laura Kayali (@LauKaya) June 1, 2021
I believe in a digital transition that puts people at its heart.
Today the EU Digital COVID Certificate goes live. By helping free and safe travel to resume in , it shows how people benefit from digital progress.
To all, I wish a great #DigitalAssembly @2021PortugalEU
— Ursula von der Leyen (@vonderleyen) June 1, 2021
We have just launched issue #2 of ¡Alirón!, our monthly newsletter. Thanks so much to @Nussenbaum, cofounder of @FelixCapital, and @viedma, founder & CEO at @lingokids, for sharing their insights with our community. 100% worth checking out!! https://t.co/xf59nciyjj #startups #VC
— All Iron Ventures (@AllIronVentures) June 1, 2021
Come join us!
We've created a new role alongside @SGuemouri , @maxineasmith & me to sprinkle more Insights & Data magic @atomico
If you're passionate about tech, curious & hungry to learn, we'd love to hear from you, whatever your background.https://t.co/6qwXEbgTMQ
— Tom Wehmeier (@twehmeier) June 1, 2021
Everything that should be can be open source / technology acquiring a native finance layer & finance acquiring a native technology layer / new economic and cultural life forms / scaling and access -> say hi to our @blueyard Crypto 1 fund & join the team https://t.co/jefCANyscJ
— Ciarán O'Leary (@ciaranoleary) June 1, 2021
We are delighted to welcome Yvonne Agyei to the extended #NotionFamily as our resident Talent & Culture Expert!
Find out more from Yvonne and @michellevcheng here https://t.co/bTtJvaaH9B pic.twitter.com/LDAa7CqxCe
— Notion Capital (@NotionCapital) June 1, 2021
Sigfox #0Gnetwork expands in Russia!
25% population covered. 450+ Base Stations deployed. 300+ to come by end of 2021.
If Russia is a strategic market to kick off your #IoT projects, just like 92% of international companies, now is the time. https://t.co/BPT7FpxXjp pic.twitter.com/Mn9zKssGrh
— Sigfox (@sigfox) June 1, 2021
Today, Croatian electric tech company and hypercar maker @AutomobiliRimac unveiled the production version of its C_Two hypercar, now dubbed the ‘Nevera’ and priced at €2 million.https://t.co/xb29DQWZAg
Launch video: https://t.co/wI2wO4VJjo
— Tech.eu (@tech_eu) June 1, 2021
Delighted to be launching in France today with the support and partnership of @euronext and leading French platforms @Boursorama, @boursedirect and @easybourse. https://t.co/iGWegn2JBQ
— PrimaryBid (@PrimaryBid) June 1, 2021
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