In case you weren't paying attention, a whole boatload of activity happened across the European tech scene this week. So much so that we had trouble whittling down what to discuss and what to let slide.In discussion:
- The Global Startup Ecosystem Report 2023 (GSER 2023)
- German autonomous trucking company FERNRIDE announces it has raised $31 million in Series A funding.
- Venture capital firm Molten Ventures has written down its holding in Revolut by 40%, adding to the fintech company’s recent trouble as it struggles to gain a UK banking licence.
- Stock trading app Freetrade is cutting its pre-money valuation by around 65% ahead of a planned Crowdcube fundraise later this month.
- UK payments unicorn GoCardless is to cut 17% of staff in a bid to shave 15% off its cost base and quote unquote rediscover its scrappy startup energy.
- Digital bank Zopa, also based in the UK, is rejigging its leadership team.
- Amsterdam-based cloud banking provider Mambu has announced the immediate departure of its CEO and co-founder Eugene Danilkis for “personal reasons”.
- France is openly courting to become the home of Tesla's next Gigafactory in Europe.
- Earlier this week, Musk met with Italian prime minister Giorgia Meloni as leaders in Europe attempt to woo the Tesla boss into building a new car manufacturing facility in their countries.
- Less than a month old startup Mistral AI raised a seed round of €105 million at a €240 million valuation.
- Wargraphs sells to M.O.B.A Network for €50 million.
- Wayflyer renews debt line of $300 million from JP Morgan.
- EU Regulation Update
- Amsterdam - Framer AI
- Mercedes adding ChatGPT to their cars
- a16z crypto comes to London.
- Pirate Summit scuttles the ship with its last burn.
All this and a whole lot more on this week's Drive at Five