Skelelton Tech raises €108M, EyeEm is acquired, and Bulgarian tech gets a boost from Europe

This week saw big funds raised by Skeleton Technologies, EyeEm acquired by Freepik, and a €162M boost for Bulgarian tech.
Skelelton Tech raises €108M, EyeEm is acquired, and Bulgarian tech gets a boost from Europe

This week, our research tracked more than 95 tech funding deals worth over €993 million, and over 10 exits, M&A transactions, rumours, and related news stories across Europe

As always, we've also indexed the most important/industry-related news items you need to know about, however, this recap is by no means exhaustive.

Our comprehensive brief, and its associated data, are available to our insights members via a weekly round-up newsletter and a handy .csv file allowing for even more in-depth analysis.

Our insights members are privy to our monthly reports including our September 2023 report which includes a special foreword by Pål Malmros, Partner and Head of Software Investments at private equity fund Verdane which announced the close of a €1.1 billion fund just last month.

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And now, the news.

💸 Notable and big funding rounds

🇪🇪 Skeleton Technologies raises €108M in a funding round led by Siemens and Marubeni

🇧🇪 Agomab Therapeutics secures €94.9M in Series C to advance drug development for Crohn's Disease

🇸🇪 Invoier secures €59M from the EU for its 'exchange for invoices'

🫱🏽‍🫲🏻 Noteworthy acquisitions and mergers

🇩🇪 After filing for bankruptcy, Europe's almost-instagram platform EyeEm acquired by Freepik

🇫🇷 Lisam Systems broadens chemical and cosmetic compliance solutions with EcoMundo purchase

🇩🇪 The Icelandic company Sidekick Health is taking over the insolvent startup aidhere

🚀 Interesting moves from investors

🇧🇬Inside EIF’s new €162M boost for Bulgarian innovation, growth, and green infrastructure development

🇸🇪Sweden Luminar Ventures has successfully closed its second fund, raising €65 million

🇪🇸Swanlaab launches €60M agrifood tech fund

🇪🇺European Investment Fund and Invoier boost European SMEs with €58M support

🇪🇸Grow Venture Partners launches its second fund of €50M to continue promoting the creation of deep tech projects

🗞️ In other (important) news

🇬🇧 Microsoft's $68.7B acquisition of Activision still in the game accepts UK's CMA

🇳🇱 High Tech Campus Eindhoven launches Benelux’s first physical innovation hub for spatial computing and metaverse

🇬🇧 Fly Now Pay Later, which has raised nearly $180M, stops lending and onboarding new customers

🇬🇧 Ex-Tech Nation CEO to lead University of Cambridge founder scheme

🇪🇺 EU fires urgent warning at Elon Musk’s X over illegal content and disinformation following Hamas attacks

📡 Recommended reads and listens

🍄 In the mycelium revolution fungi roots are shaping the future of sustainable industries

🇪🇺 Show us your numbers: Why Europe must follow California’s lead in legislating diversity

🇷🇴 The impact of 'How To Web' conference on Romania's tech scene

💸 Investment activity continues to follow a negative trend — EIF’s report on the European VC market state

🤖 Preparing for the virtual AI revolution: EU’s flexible principles imperative

🔭 European tech startups to watch

🚘 Google backs autonomous vehicle firm Oxa

🇦🇹 Infrared City secures €1M pre-seed funding for climate-resilient design tech

🇩🇪 Mario Götze backed Lanch raises €6.5M pairing food brands with creators

 🇬🇧Sustainable smart home startup Myenergi raises £30M

🇵🇱 Medtech startup IQ Biozoom secures seed capital led by VC Link

Lead image: Photo by Solen Feyissa

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