Today in European Tech: About You shoots for €4.4 billion valuation in IPO, Google bows to search engine rival pressure in Europe, and more

Today in European Tech: About You shoots for €4.4 billion valuation in IPO, Google bows to search engine rival pressure in Europe, and more


Here's what happened today in European Tech.


- About You, the German fashion e-commerce company that aims to digitalise mall visits by creating a personalised shopping experience on smartphones for young teens, is looking to raise €941 million euros in a Frankfurt IPO. Tuesday’s implied price range of between 21 euros and 26 euros implies its equity is worth up to €4.4 billion.

- Israeli digital adoption SaaS company WalkMe has filed a revised prospectus with the US Securities and Exchange Commission. WalkMe will sell shares at between $29 and $32, raising a total of between $268 million and $296 million, giving it a post-IPO valuation between $2.4 billion and $2.7 billion.

- Israeli startup Verbit, which has developed an AI-powered real-time transcription and captioning platform, has secured $157 million in Series D funding, giving the company a valuation of over $1 billion.

- Proving that Central and Eastern Europe remains a powerhouse of hardware engineering matched with software, Gideon Brothers, a Zagreb, Croatia-based robotics and AI startup, has raised a $31 million Series A round led by Koch Disruptive Technologies.

- Just south of Paris, Palaiseau-based quantum processor maker Pasqal has raised €25 million in Series A round led by go-to quantum computing fund Quantonation and the Defense Innovation Fund, managed by Bpifrance.

- Paris-based financial and account management solutions provider Pennylane has raised €15 million in new funding from Sequoia Capital.

- 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

- Google has bowed to pressure from rivals and will let them compete for free to be the default search engines on Android devices in Europe, widening a pledge to EU antitrust regulators two years ago.

- The founders and CEOs of Delivery Hero, Bolt, Glovo, and Wolt have joined forces to work on a better model for regulating platform companies with the aim of providing specific commitments and recommendations to governments.

- Ahead of a parliamentary vote later this year, the Kremlin has been fine-tuning its strategy to pressure platforms such as Twitter, YouTube and TikTok to remove anti-Russian government content, classifying a growing number of posts as illegal and issuing a flurry of takedown requests.

- The EU is facing a backlash over new AI rules that allow for limited use of facial recognition by authorities — with opponents warning the carveouts could usher in a new age of biometric surveillance.

- Some of the biggest names in the music industry have called on the UK government to change the way musicians get paid when their songs are streamed online over platforms like Spotify and Apple Music.

- Tide, the digital business banking group, is closing in on a new round of funding led by the growth arm of one of Britain’s biggest private equity firms, that Sky News says could value the company at around £350 million.

- Sweetwood Ventures, an Israeli VC, announced the launch of its second venture capital Fund-of-Funds, saying it will be targeting $120 million in investments in leading early-stage and growth-stage Israeli technology companies.

- Sky News has also learnt that Scott Fletcher, a former child actor, is closing in on a blockbuster £200 million deal to sell his IT company ANS Group.

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