Here's what happened today in European Tech.
- Berlin-based digital freight forwarding and supply chain solutions provider Forto has raised a hefty $240 million. With this round, Forto now weighs in at a $1.2 billion valuation.
- Israeli music education startup JoyTunes has completed a $50 million funding round at a $1 billion valuation led by GV (formerly Google Ventures) and with participation by Qualcomm.
- Wellster, a(nother) telemedicine hailing from Bavaria, has raised $40 million in a round led by Dermapharm with support from existing investors HV Capital and SevenVentures.
- Helsinki’s Tesseract, which specialises in bridging institutional capital flow between traditional and digital asset finance has raised $25 million in one of the largest Series A rounds in Finland to date.
- Doctrin, a medtech startup hailing from Stockholm, has raised €13 million to further its efforts of providing, “patient-centric healthcare, free from barriers”.
Belgian telecoms provider Destiny is marching forward with its goal of becoming the leading European cloud communications solutions for SMEs, announcing its acquisitions of Swedish firms Telepo and Soluno.
- 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.
- Europe's two privacy watchdogs teamed up to call for a ban on the use of facial recognition in public spaces, going against draft European Union rules which would allow the technology to be used for public security reasons.
- Germany’s competition authority, the FCO, has completed its Big Tech GAFA ‘bingo’ card by opening a proceeding against Apple. As with similar investigations already opened this year — into Amazon, Facebook and Google — the proceeding will determine whether or not the iPhone maker meets the threshold of Germany’s updated competition law.
- Fintech company Revolut saw slower growth in revenues and mounting losses last year as the coronavirus pandemic hit payment volumes, though an increase in the value of cryptocurrencies gave the company a big boost. Revolut generated revenues of £222.1 million in 2020, up 34% from the £166 million revenue it made a year earlier.
- Speaking of Revolut, the British fintech scale-up is reportedly in the early stages of a fundraising round that could value it at $20 billion or more.
- Google is closing its dedicated start-up space in London known as Campus. The Silicon Valley tech giant announced on Monday that it has decided “not to reopen” Campus in East London after it was forced to close by the coronavirus pandemic.
- Israeli venture capital fund Glilot Capital Partners is reportedly mulling raising $200-300 million on Wall Street in an IPO of a special purpose acquisition company (SPAC).
- Last week, hundreds of the biggest names in European tech rubbed shoulders with politicians and wealthy investors on the lawns of the Soho Farmhouse private members club in rural England at Founders Forum, one of the first major tech events to happen in over a year.
Today's Top Tweets
— Google for Startups UK (@GoogleStartupUK) June 21, 2021
Today, https://t.co/X5zZOexA7Q officially become a publicly traded company at the London Stock Exchange.
My thoughts are with my first employees and co-founders, who took a leap of faith in joining the team 11 years ago in Notting Hill. This adve…https://t.co/oHpgsnrhsB
— Ning Li (@madebyning) June 21, 2021
Following a dramatic series of fundings and new unicorns, the French government wants to raise the bar. That includes more E.U. coordination on startup policy and 10 European deca-corns by 2030.https://t.co/0M3bhjEbUT
— Chris O'Brien (@obrien) June 21, 2021
Pouring one out today for Campus London, which won’t be re-opening as the team focus virtually. Hard to sum up something so special to me in tweets but it was an incredible privilege to be deeply involved with this trailblazing space for years & to lead it for four
— Sarah Drinkwater (@sarahdrinkwater) June 21, 2021
@fortocompany just reached the unicorn status today! Congrats to @themikewax and the entire team for such a great milestone
@chrissteinau and @mkotting made a deep dive into why the future of supply chains lies with digital actorshttps://t.co/6DE6PkZRrK
— Northzone (@northzoneVC) June 21, 2021
See the innovation performance of EU countries in 2021:
More: https://t.co/pWCbvQ6jJD #DigitalEU pic.twitter.com/KUUWqUbRfp
— European Commission (@EU_Commission) June 21, 2021
Grateful for the opportunity to write about this issue for @InformationAge
Progress on gender diversity in European Tech stagnated in 2020, with all men teams capturing 90.8% of all capital raised.
It's incumbent on us all to bring about change & there isn't a moment to waste! https://t.co/VFu3StxUzG
— Bruce Walker (@BruceWalker_) June 21, 2021
We can't create an adequate online experience for @PIRATESummit.
However, we can take our experience from running 120+ online events in the past 12 months and create an exceptional digital event. PIRATE style.
It's called PIRATE Live. Our thoughts on this year's theme.
— Manuel Koelman (@manuelkoelman) June 21, 2021
Let’s make a list of all the founders of U.K. / European tech “Unicorns” and see which founders have put their money where their mouth is and invested as Angels in startups from their home country. Without that you don’t get a Silicon Valley style Ecosystem.
— Mike Butcher (@mikebutcher) June 20, 2021
I just finished reviewing this year's thousands of startups for @south_summit 2021. Here are some key takeaways and trends I'm observing (a thread) (RT if valuable and feel free to suggest any category I'm missing, which I undoubtedly will)
— Alex Barrera (@abarrera) June 20, 2021
⚠️ATTENTION⚠️Don't miss the opportunity to know everything about this @EU_Commission funded programme #SHOP4CF. Hurry up and join @Shop4Cf Info session on 22 June at 12PM (noon) CEST!
Click on the link to register https://t.co/mxjZyKnImX@emilymaecarroll @ISDIacc pic.twitter.com/ybU03CcG4B
— Tech.eu (@tech_eu) June 21, 2021
Credit card companies have a duty to ensure consumers know what they are buying and paying for.
We requested Visa, Mastercard and American Express to provide more information to consumers about subscription payments.
More details: https://t.co/cFbE4PDyRr #EU4Consumers pic.twitter.com/TxEux85aH4
— European Commission (@EU_Commission) June 21, 2021
The moment we’ve all been waiting for. We’re proud to finally welcome you to our new, bigger, and sweeter Stockholm Kingdom. https://t.co/ZGvovDj8gd#LifeatKing #StockholmTech #GameDevelopment #GameDev #NewOffice #OfficeDesign #Workplace #Creative #Stockholm
— King (@King_Games) June 21, 2021
Rovio, @MoominOfficial and @GutsyAnimations enter a long-term partnership to create joyful and iconic content for years to come. A #Moomin game is already in the works! https://t.co/nhsWd8JNzq pic.twitter.com/O8ziFuTyjf
— Rovio (@Rovio) June 21, 2021
A year ago, we had a vision of a #cybersecurity solution for #SMEs, and a team of enthusiastic people ready to tackle the challenge
Now, we've designed a motivating approach to cybersecurity, and developed the first #cyberGEIGER prototype!
— GEIGER (@cybergeiger) June 21, 2021
Thrilled with #EUInnovation Scoreboard⏩EU's innovation performance keeps improving
ALL Member States are more innovative now than they were in 2014➡️ with as the fastest growing innovators.
— Jean-Eric Paquet (@JEPaquetEU) June 21, 2021
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