This Week in European Tech: British EV startup Arrival gets $300 million lifeline, Augmenta bought for $110 million, AI AI and AI, Via buys Citymapper, 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: British EV startup Arrival gets $300 million lifeline, Augmenta bought for $110 million, AI AI and AI, Via buys Citymapper, and more

This week, our research team tracked more than 80 tech funding deals worth over €750 million, and over 10 exits, M&A transactions, rumours, and related news stories across Europe.

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!

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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

London-based Arrival, an electric van and bus startup, has secured $300 million in an equity financing line from Westwood Capital.

Berlin-based Medwing, makers of digital HR management tools for the healthcare sector, has secured €44 million in a Series C that welcomed new investors Hambro Perks and SVB Capital.

Zürich-based makers of an inventory tracking system powered by fully autonomous indoor drones Verity has raised $32 million in a Series B round.

French e-scooter rental startup Zeway has bagged a €26.75 million round.

Dublin-based medtech firm Fire1, has announced the close of a $25 million financing round to accelerate the development of its monitoring solution to improve outcomes for heart failure patients.

APEXX Global a global payments platform that specialises in offering a payment orchestration layer, has raised $25 million, closing its Series B funding round.

Miami/Vilnius-based Cast AI has raised $20 million in a new investment round that will see the company further establish itself in the cloud optimisation space as well as build out new offerings.

London-based healthtech startup HelloSelf has raised $20 million in a Series B round that’s aimed at helping the company further expand its network of therapists, partners, and members across the UK and Continental Europe.


>> Noteworthy acquisitions, mergers, IPOs and SPAC deals

The most important acquisition this week was .... Following a tense weekend that saw the collapse of prolific tech sector financier Silicon Valley Bank, a move that affected its subsidiary branches, including SVB UK, HSBC UK ended up acquiring Silicon Valley Bank UK for a symbolic £1.

Athens-based agritech start-up Augmenta has been acquired by CNH Industrial for $110 million.

Via, a New York-based TransitTech company, acquired Citymapper, a UK-based journey planning app. The amount of the deal was not disclosed.

Parisian ride-sharing company BlaBlaCar has made public its discussions of an acquisition with home-to-work carpooling startup Klaxit.

Parisian customer engagement marketing platform aimed at B2C marketing teams Splio has acquired crosstown martech startup Tinyclues for an undisclosed figure.

Paris-based Synalcom, a company that claims to be one of France’s biggest electronic payment solutions and services providers, announced on Wednesday that it has merged with mobile-first payments fintech Qori to launch Sylq.


>> Interesting moves from investors

Swen Capital Partners has raised €50 million more than expected for its Blue Ocean Fund and declared the fund the world's largest venture capital vehicle investing in ocean regeneration.

Focused exclusively on investing in the sustainable future of transportation, Rethink Ventures has announced the launch of a €50 million fund.

After problems in oversight and carrying out due diligence that continue to delay payments to startups, the Commission is transferring management of its equity fund to the European Investment Bank. The formal handover expected to complete in September.

Geneva-based investment house ACE & Company has announced the appointment of former Uber France, Austria, and Switzerland General Manager Steve Salom to the role of Partner. In addition to co-running the venture capital arm of the company, Salom is tasked with launching the firm’s newest €150 million fund.

Addressing the lack of diversity at the investor level, Ada’s Angels ups the ante with its second cohort, backing 20 angel investors with £50,000 each.

The EIT Digital Venture Programme 2023 is now open for applications in 22 European countries


>> In other (important) news

In response to the US Inflation Reduction Act, the European Commission wants 40% of EU’s clean technologies to be manufactured in the bloc by end of the decade.

UK Spring Budget: Quantum investment, R+D credits but no scale-up funding.

Five Russia-affiliated internet companies are to be formally delisted from U.S. stock exchanges, a year after trading was halted in the wake of Russia’s invasion of Ukraine. The most prominent of the quintet is Yandex, a 25-year-old tech company often called “The Google of Russia,” owing to its products spanning search, e-commerce, advertising, maps, transportation and more.

The European Commission will “go after” tech companies that didn’t fully disclose user numbers under the Digital Services Act, Breton said today, in a statement targeted at companies including Amazon, Apple and Spotify.

European Commissioner for Innovation, Research, Culture, Education and Youth, Mariya Gabriel has made official a €110 million budget (until 2025) for the European Collaborative Cloud for Cultural Heritage initiative.

The United Kingdom on Thursday announced plans to ban the use of Chinese-owned video app TikTok on government corporate devices.

But ... TikTok thinks Europe won’t move to a full ban on its app

An EU decision ordering Amazon to pay about 250 million euros in back taxes to Luxembourg relies on "atmospherics" and is without merit, the company said on Thursday, as it sought to convince Europe's top court to throw out an appeal by EU regulators.

The UK’s competition regulator has raised concerns that a £1.2 billion merger of two data firms based in the US and UK could result in higher costs for the NHS.

The French government is set to present a plan to better regulate the commercial work of social media influencers to ensure they, as well as the consumers of their content, are better protected.

UK digital asset custody and trading startup Copper is ditching its enterprise business and making job cuts as it faces up to the crypto sector's market and regulatory woes.


>> Recommended reads and listens

Let’s hope the start-up world remembers this Great British Tech Rescue

How far will we — and the EU — let AI go?

The biggest mistake companies are making when it comes to hybrid work

We need to make sustainability easier for Europe’s founders

Tech giants will likely challenge a new European Union law aimed at reining in their power with the first cases in a potential wave of litigation expected by year-end, one of the EU's top judges said on Friday.

What's New in European Venture Capital with Ophelia Brown, Founder of Blossom Capital - 20VC

What's the deal with deal flow in European tech? A data-driven interview with Orrick experts

Setting European founders up to win

London-based CCGroup surveyed decision makers (C-levels, VPs, and Heads) at banks and fintechs across the UK, France, Germany, Spain, and Italy to gauge their opinions on future purchasing decisions.

The full list of Estonian unicorns

How Bpifrance Boosted Ÿnsect


>> European tech startups to watch

PentoPix is transforming film making, using generative AI to turn long scripts into digital storyboards

Neobank bunq surpasses €2 billion in user deposits.

Stockholm-based Kilimato has raised €4.2 million in new capital that will help the climate tech startup enter news markets including Germany, France, and the US as it aims to become the de facto solution for sustainability services within the food sector.

Gener8's new app shows what data companies know about you and how you can keep your data private or monetize it

German startup COMPREDICT builds data-driven virtual sensors that replace hardware sensors across vehicles.

Vienna-based fintech startup Finmatics, not to be confused with the field of finmatics that includes financial analytics, trading algorithms, and machine learning, has raised €6 million in a Series A funding round.

Berlin-based climate tech startup, The Climate Choice has closed a $2 million funding round which will go towards the further development and expansion of its Climate Intelligence Platform.

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