Gigafactories up, gig workers down, and almost €5B was invested in European tech last week

Last week, we tracked more than 65 tech funding deals worth over €4.9 billion, and around 10 exits, M&A transactions, and rumours; all alongside a host of related news stories across Europe.

While €4.9 billion in investments across Europe is certainly laudable, it's worth noting that €4.4 billion of it goes to Stellantis, Mercedes and TotalEnergies co-owned automotive battery maker ACC (Automotive Cells Company), who secured €4.4 billion. The debt facility, one of the largest on record in the European automotive industry is aimed at supporting the construction of three gigafactories in France, Germany and Italy.