This week in European tech: Nokia scales back, Volta Trucks unplugs, and EQT closes in on nearly €20B

This week saw Nokia announce some drastic cost-saving measures, Swedish electric truck maker Volta Trucks file for bankruptcy, and private equity giant EQT closing in on a mammoth buyout fund.
This week in European tech: Nokia scales back, Volta Trucks unplugs, and EQT closes in on nearly €20B

This week, our research tracked more than 95 tech funding deals worth over €1 billion. We saw over 10 exits and M&A transactions on the other end of the spectrum

In addition to this week's top financials, we've also indexed the most important/industry-related news items you need to know about.

If email is more your thing, you can always subscribe to our newsletter and receive a more robust version of this round-up delivered to your inbox.

Either way, let's get you up to speed.

💸 Notable and big funding rounds

🇬🇧 iwoca secures £200M debt facility to help bridge SME funding gap

🇬🇧 Uncapped secures £200M to expand its services to US and European entrepreneurs

🇩🇪 EV charging station with integrated battery storage company Numbat raises €140 million

🫱🏽‍🫲🏻 Noteworthy acquisitions and mergers

🇬🇧 Property portal OnTheMarket surges 53 percent on $120 million takeover by CoStar

🇬🇧 Pole Star Global enhances maritime intelligence with StratumFive acquisition

🇫🇷 French VC firm Founders Future acquired an equity crowdfunding platform, Sowefund

🚀 Interesting moves from investors

🇸🇪 EQT raises nearly €20B for latest flagship fund

🇬🇧 Tech Nation is back with £10B private investment and support for disabled founders

🇫🇷 Breega launches €150M 'Europe Seed III' fund to boost early-stage startups

🇬🇧 UK Government invests £200M in green Projects for zero-emission HGVs

🇩🇪 General Catalyst and European early-stage fund La Famiglia ‘join forces’ to invest in European startups

🗞️ In other (important) news

🇫🇮 Nokia to downsize workforce by 14,000 following Q3 2023 sales drop

🇬🇧 Britishvolt aims to supply batteries to Australian military

🇸🇪 Unplugged: Volta Trucks files for bankruptcy impacting 800 employees

🇩🇪 SAP gains most in 11 months after cloud backlog surges

🇪🇺 MEPs approve EU tech fund, want full-scale sovereignty fund in the future

📡 Recommended reads and listens

🇵🇹 Fintech leaders review Web Summit speaking gigs following founder’s Israel “war crimes” claim

🇪🇺 European venture capital in 2023: Insights from PitchBook's Q3 report

🇳🇱 How the Amsterdam Dance Event shapes the global electronic music scene

🇬🇧 UK government’s Future Fund scheme “imperfect” but “critical form of support” to Covid-impacted startups say crowdfunding platforms

🇪🇺 Double-digit million-pound losses at two European open banking startups, but revenues increase

🔭 European tech startups to watch

🇬🇧 Hospitality HRtech startup Slinger raises £500,000 to make the CV obsolete

🇹🇷 Gamester Kids received an investment of $850,000

🇩🇪 Zeedz raises $1M seed funding for its climate change fighting game

🇧🇪 Introw raises €1M to boost AI-driven sales solutions

🇫🇷 Fentech raises €1.2M for its sales forecasting solution helping retailers fight inflation

Lead image: Photo by Solen Feyissa

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