This Week in European Tech: Getir closes $10 billion deal to buy Gorillas, a deep dive into the State of European Tech report, and more

This week, our research team tracked more than 90 tech funding deals worth over €2.4 billion, and over 15 exits, M&A transactions, rumours, and related news stories across Europe.

As always, we are putting all of them together for you in a list sent in our round-up newsletter next Monday (note: the full list is for paying customers only, and also comes in the form of a handy downloadable spreadsheet).

We've also got some news for you: we're already gearing up for the second edition of the Tech.eu Summit! Save the date:

24 May in Brussels.

Tickets are now on sale. And these are the first 14 confirmed speakers!

If you haven't seen them yet, we've made all the videos from the Tech.eu Summit last May available as a playlist on our YouTube channel - enjoy!

With that said, let's get down to business with the biggest European tech news items for the past couple of days (subscribe to our free newsletter to get this round-up in your inbox).

What happened this week in European Tech?

-----

>> Notable and big funding rounds

Combining a Series C round totaling $200 million and the largest asset-backed facility in heavy-duty electric transport to date at $300 million, Einride is ensuring its ability to go the distance with a half-billion USD fundraise.

Oda, one of the bigger players in online grocery delivery in Europe with operations in its home market of Norway as well as Finland and Germany, has raised about $151 million in equity.

Copenhagen’s Nornorm has raised €110 million in a funding round led by Oslo-based growth equity firm Verdane, with the Inter IKEA Group and Philian AB, the personal investment vehicle of H&M president and CEO Karl-Johan Persson, participating.

UK small business lending bank Allica has picked up £100 million for its series C raise. The round was led by US/London investment firm TCV.

London’s all-things-financial fintech Curve has secured $1 billion in a funding deal provided by Credit Suisse that will see the company scale its lending business, Curve Flex, across the UK, EU, and US markets.

Fraunhofer Gesellschaft spinout Customcells has raised €60 million in a Series A round that will see the company further push into battery technologies aimed at the aviation industry.

-----

>> Noteworthy acquisitions, mergers, IPOs and SPAC deals

While rumors have been circulating for weeks now, Turkey’s ultrafast grocery service Getir has officially announced the acquisition of Berlin-based Gorillas for $1.2 billion, giving the combined group a $10 billion valuation.

Microsoft announced that it acquired Lumenisity, a UK-based startup developing “hollow core fiber (HCF)” technologies primarily for data centers and ISPs.

Dutch neobroker BUX has strengthened its position in Spain with the acquisition of the retail brokerage arm of B2B embedded finance platform Ninety Nine.

Mail to Pay, a Dutch robotic process automation startup targeting debt collection procedures, has acquired its Belgian fintech peer POM, a provider of digital payment services, and now seeks to combine the two operations under POM's brand in Belgium.

Vienna-based Orderlion wants to become the mode of choice for restaurants getting stock in for their kitchens, and its model's being expanded into France following an acquisition deal for Orderlion to absorb French B2B food marketplace Supli.

Belgian consumer insights software startup SOPRISM is joining its London-headquartered peer Audiense.

Voicemod, a Valencia-headquartered AI voice augmentation company, has bought its Barcelona-based audio tech peer Voctro Labs.

-----

>> Interesting moves from investors

The European Innovation Council (EIC) will disburse €1.6 billion to innovators around Europe next year, and is promising a less bumpy ride in its third year as a full-fledged EU fund.

With its strong focus on growth stage technology and tech-enabled B2B software companies hailing from across Europe and Israel, private equity firm One Peak has announced the close of its third fund at $1 billion.

The European Institute of Innovation & Technology (EIT) announced an €890 million investment in activities tackling global challenges across Europe, delivered by eight of its Knowledge and Innovation Communities (KICs).

Berlin-based early-stage backer, and prolific user of Notion, Cavalry Ventures has launched its third fund at €160 million.

Paris-based VC IRIS is aiming to raise €150 million for its fourth fund, picking up dry powder from existing investors including the likes of Orange and the state-owned investment bank Bpifrance, as well as advertising agency Publicis Groupe.

Parisian seed, venture, and growth stage VC house Partech has closed its fourth seed fund at €120 million.

Berlin-based SquareOne (previously Paua Ventures), an early-stage investor, announced that it has launched its third fund, SquareOne III, at €100 million.

In one of its biggest ever contributions to a first-time VC fund, the European Investment Fund confirmed a €50 million cash injection into the climate tech-focused fund World Fund.

As the "atomization of European landscape to Micro-, Nano- and Solo GP funds" continues, Berlin's Robin Haak joins the pack with the launch of Robin Capital Fund One.

A new accelerator has emerged in a bid to spark more innovative CEE deep tech startups. With €1.5 million of equity-free funds at hand, Ventures Thrive aims to spur climate tech innovation with its initial cohort.

-----

>> In other (important) news

European Union privacy regulators have ruled that Meta shouldn’t require users to agree to personalized ads based on their online activity.

People in Europe can get Google to delete search results about them if they prove the information is "manifestly inaccurate," the EU's top court ruled Thursday.

The European Parliament reached a deal on the platform workers’ directive.

PayPal is to expand its cryptocurrency service to Luxembourg in a move that portends a further roll out across the European Union.

Just a year after its $91.3 million fundraise, the Swedish e-scooter and micromobility outfit Voi is cutting 13% of its workforce.

Dutch ecommerce giant Bol.com is cutting approximately 10 percent of its staff. This comes down to 300 jobs.

EU countries have adopted a common position on an Artificial Intelligence rulebook.

-----

>> Recommended reads and listens

The (worrying) State of European Tech in 2022: Annual #EUtech funding expected to drop to $85 billion, and 15 other take-aways.

Following 2021's blistering pace of deals and record high of $44 billion in dry powder, European VC activity in 2022 took a decidedly different path.

How the disgraced co-founder of France’s answer to Google moved into the murky world of cybersurveillance.

"Everything a founder/CEO needs to know about building and managing a B2B sales team" - Our conversation with Dave Kellogg

While attending the Euronext Tech Leaders event in Paris, Tech.eu sat down with CEO and Chairman of the Managing Board, Stéphane Boujnah to discuss the particulars of the programme.

'European Digital Sovereignty' by DHH

The European Innovation Council has released its 'EIC Impact report 2022'.

Digital Horizon, a UK venture firm specialised in fintech, marketing tech and e-commerce, just published new survey findings indicating 56% of UK investors plan to increase LP contributions to VC funds next year.

This is how you do a great online job interview.

Going, going gone: how Made, millennials’ favourite sofa-maker, wound up under the hammer.

Looking On The Bright Side Of France's 2022 VC Meltdown