Last week, our research team tracked more than 60 tech funding deals worth just over €1 billion, as well as more than 20 M&A transactions, rumours, and related news stories across Europe, including Russia, Israel, and Turkey.
Meanwhile, here’s an overview of the 10 biggest European tech news items for last week:
1) This week, the European Commission unveiled its “ideas and actions for a digital transformation that works for all”. Or as Reuters put it: “EU bets on industrial data, new rules to catch up in global tech”.
2) Online bank Revolut has more than tripled its valuation to $6 billion after a long-awaited bumper funding round finally closed. The firm has raised a total of $500 million by selling new shares, according to filings. It was also thought to be raising $1 billion of extra debt.
3) Google is planning to move its British users’ accounts out of the control of European Union privacy regulators, placing them under US jurisdiction instead.
4) London-based venture capital firm Atomico has announced its fifth fund, Atomico V, has closed at $820 million, bringing the firm’s total assets under management to $2.7 billion. The size of the new fund allows the firm to stick with its ongoing strategy, investing in European startups at Series A, and to also invest in select companies at Series B and C.
5) Autonomous air mobility company Volocopter has added to the Series C funding round it announced in September 2019. The German electric vertical take-off and landing aircraft maker announced €50 million in funding at the time, and the C round has now grown to €87 million thanks to new lead investor DB Schenker.
6) Tier, the European e-scooter rentals startup that operates in 55 cities across 11 countries, has topped up its funding for the second time in four months. The Berlin-based company has extended its Series B round to over $100 million.
7) Swedish online grocer MatHem has raised 500 million SEK, or €47.5 million, to develop a new environmentally certified warehouse in Larsboda and to continue expanding its retail delivery business.
8) The UK’s weather service, the Met Office, will spend £1.2 billion to acquire the world’s most powerful climate supercomputer, the government has announced.
9) Concirrus, a London-based insurtech startup, has closed a $20 million Series B funding round led by AlbionVC. The company will use the new funding to expand its predictive analytics platform, geared toward the automotive and marine insurance sectors.
10) Belgium-based OncoDNA, the healthtech making precision medicine a reality, today announced that it has completed a €19 million Series B equity financing.
Podcast: Tech.eu Podcast #156: Latest news, Wingcopter and future of drone delivery, Bertrand Piccard and Solar Impulse Foundation
Bonus link: Europe can win global battle for industrial data, industry policy chief Breton says (Euractiv)