This Week in European Tech: Wattif raises close to €50 million, WNS acquires The Smart Cube and OptiBuy, Meta gets $400 million fine, and more

Here's a roundup of this week's biggest European Tech funding rounds, exits, 'other news' that you might have missed, and a compendium of must-read articles on all things #EUtech.
This Week in European Tech: Wattif raises close to €50 million, WNS acquires The Smart Cube and OptiBuy, Meta gets $400 million fine, and more

This week, the first one of 2023, our research team tracked 35 tech funding deals worth over €269 million, and over 15 exits, M&A transactions, rumours, and related news stories across Europe.

We also recently took a close look at what the data told us for December 2022, and published our 'year in review' complete with a ton of insightful charts.

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

And don't forget: we're busy prepping for the next Summit, it's gonna be epic!

24 May in Brussels Expo

Tickets are on sale.

Still on the fence? Check out our first 25 confirmed speakers!

If you haven't seen them yet, we've made all the videos from the 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

Wattif, an end-to-end provider of EV destination charging solutions, has secured close to €50 million.

Qvantum, a Swedish heat pump supplier that's trying to install more of them in urban apartments around Europe, has announced an SEK 460 million (€41.2 million) fundraise backed by Thomas von Koch, former CEO of EQT, and IKEA's investment arm Ikeasfaren.

Perspectum, an Oxford, UK-based precision health company which develops medical imaging tools, raised $36 million in its first Series C funding.

Luxembourg-based Tadaweb, a company that provides an open-source intelligence platform to transform how businesses generate intelligence from publicly available data, has raised €15 million in a fresh round of funding.

Leeds based audio visual (AV) and event technology specialist, Blue-i Group, has announced a £13.75 million investment from London headquartered growth investor BGF.

LocalGlobe has led an £8 million seed investment into Concretene, a product developed by the UK’s Nationwide Engineering Research and Development (NERD) in partnership with the Graphene Engineering Innovation Centre (GEIC) at The University of Manchester that aims to do more with less through better material.

Paris-based customer data platform mediarithmics has collected €7 million in its latest funding round, bringing its total investment to €20 million.


>> Noteworthy acquisitions, mergers, IPOs and SPAC deals

Meta has acquired the Belgian-Dutch company Luxexcel, a 3D printing firm creating complex glass lenses for use in AR optics.

WNS, a provider of global Business Process Management solutions, acquired The Smart Cube, a London, UK-based provider of platform-driven research and analytics focused on procurement and supply chain.Consideration for the transaction is $125 million.

WNS has also acquired OptiBuy, a Warsaw, Poland-based provider of procurement platform consulting and implementation solutions for €30 million.

Battery Ventures has acquired Avrios, a cloud-based, fleet management platform is used by more than 1,000 customers with around 120,000 vehicles.

Airbus has started exploratory talks to take a minority share in the Evidian cybersecurity unit of IT consultancy group Atos.

London-based Trouva has been acquired again, this time with ownership changes hands from Next via its acquisition of MADE to Cambridge-based startup Re:store. Terms of the deal remain undisclosed.

Vybe, the French challenger bank catered to teenagers, has been picked up by London's Twig, self-described "bank of things"

Boston-based listed company Duck Creek Technologies has acquired Swiss payments platform Imburse Payments for an undisclosed figure.


>> Interesting moves from investors

In 2022, Euronext says it welcomed 83 new equity listings – half of which were carried out by tech companies – representing an aggregated market capitalisation at listing of €23 billion, and raising €3.8 billion.

The British Business Bank is preparing to launch a £150 million investment fund in the summer to support the growth of Scottish SMEs.

25 new VC funds launched in Central and Eastern Europe in 2022


>> In other (important) news

Facebook parent company Meta was slapped with a pair of fines totalling more than $400 million as the Irish privacy regulator concluded the company’s advertising and data handling practices were in breach of EU privacy laws.

France's data protection authority CNIL has fined Apple €8 million for privacy violations.

Italian energy group Eni has set up a new company dedicated to sustainable transport, which would develop bio-refining, biomethane and offer mobility products and services in Italy and abroad.

Zodia Custody, the crypto asset servicing joint venture between Standard Chartered and Northern Trust, has appointed former Bitstamp chief and Starling bank co-founder Julian Sawyer as its new CEO.

The Central Bank of the Republic of Türkiye has run its first test transactions on the digital Turkish Lira CBDC network.


>> Recommended reads and listens

This Year in European Tech: 2022 in review (and in charts)

An economic downturn triggered by rising interest rates and the war in Ukraine has changed the mood music around the European tech sector. Academics from London Business School’s Institute of Entrepreneurship and Private Capital shared their views on how 2023 will go with

Avolta, one of the most active tech M&A advisors in Europe, has published an interesting report on VC and M&A trends in France.

Why increasing early-stage investment limits will turbocharge UK startups

Down but not out: With the tech industry in retreat, are down rounds on the cards for Irish start-ups?

Following a year of growing momentum, the UK space tech industry is on course for a blockbuster 2023 that will see the first vertical rocket launch from British soil.

The UK’s answer to ChatGPT? 4 British generative AI startups to watch

What’s in store for European fintech in 2023?

The UK's public-access charging network for refuelling electronic vehicles grew by around 30% last year, reaching a total of 37,000 by the end of 2022.

Let food be thy medicine: charting the success of nutrition startup ZOE

Unlocking the Potential of Greece: A New Hub for Cyber Security Companies

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