This week in European tech: Monzo rumoured to be raising £300M, EA Elektro-Automatik acquired in $1.45B deal, the Summit, and more!

This week rumours surfaced of UK challenger bank Monzo looking to raise £300 million, Germany's EA Elektro-Automatik acquired in an all-cash deal, and we announced the location of the 2024 edition of the Summit.
This week in European tech: Monzo rumoured to be raising £300M, EA Elektro-Automatik acquired in $1.45B deal, the Summit, and more!

This week, our research tracked more than 80 tech funding deals worth over €521 million. We saw over 15 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

🇬🇧 Fibre network provider ITS Technology Group in £100M funding deal

🇩🇪 Quantum Systems raises €63.6M Series B becoming the first European company to raise over €100M on dual-use tech

🇪🇸 BBVA Spark backs Twinco Capital with €50M for sustainable supply chain finance

🫱🏽‍🫲🏻 Noteworthy acquisitions and mergers

🇩🇪 Fortive acquires Germany's EA Elektro-Automatik in $1.45B deal

🇬🇧 Parking tech firm undergoes MBO in £120 million deal

🇫🇷 Mobility insurtech firm Laka acquired French e-bike insurance broker Cylantro

🚀 Interesting moves from investors

🇮🇪 ICG faces London suit over tech unicorn it backed with millions

🇫🇷 Tikehau Capital's €200M commitment to European cybersecurity

🇫🇷 I4d Ventures raises €16M for Pre-Seed fund supporting frontier technologies

🇱🇺 Maor Investments closes second fund, at $180M

🇫🇷 Sofinnova Partners closes €190M Digital Medicine I fund

🗞️ In other (important) news

🇬🇧 Digital bank Monzo in talks to sell new £300m stake

🇸🇪 Swedish unions threaten Klarna strike

🇬🇧 British PM Rishi Sunak's speech on AI — as released by 10 Downing Street — embarrassing audio and all

🇫🇷 Home insurance: Luko close to judicial liquidation

🇸🇪 Spotify is changing its royalty model to crush streaming fraud

📡 Recommended reads and listens

🇬🇧 Next stop, London: Summit elevates its game in 2024!

🇪🇺 OpenOcean releases 2023 edition of automation market map, spotlights $13.5B raised by sector in H1 2023

🇪🇺 $4.2B in funding raised by AI startups since 2021 — The Recursive State of AI in CEE report

🇩🇰 “We don’t have any intention to merge,” says CEO of Danish challenger bank Lunar following reports of a deal with Monzo

🇬🇧 London-based Samaya AI unveils an AI tool that suggests better Wikipedia references for citations the tool identifies as unlikely to support associated claims

🔭 European tech startups to watch

🇹🇷 Ecomercek received a follow-on investment of $125,000 from Eczacıbaşı Momentum

🇱🇹 Blockchain startup Micapass tackles crypto money laundering with €240,000 investment

🇫🇮 AI knowledge management tool Wudpecker secures €330,000 in pre-seed funding

🇹🇷 Novus received $500,000 investment led by Inveo Ventures

🇩🇪 Likeminded secures additional €1.5M for digital mental health solutions

Lead image: Photo by Solen Feyissa

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