Today in European Tech: $125M for psychedelic treatments, UK firms against Privacy Sandbox, HelloFresh buys Factor, and more

andrii@tech.eu

Hello!

Here is what happened today in European tech:

Deals

– German-born Atai Life Sciences has landed $125 million in funding from investors including Peter Thiel. “Atai is developing a range of drugs for mental health treatment, including ketamine, MDMA and psilocybin — the psychoactive ingredient in magic mushrooms,” Sifted reports.

– Berlin-born HelloFresh announced its US subsidiaries have entered into an agreement to buy Factor 75 for up to $277 million. Of that amount, $177 million is payable upon the closing of the transaction, while up to $100 million is structured as performance-based earn-out. With the acquisition, HelloFresh will gain its first office in Chicago, along with four production and fulfillment facilities.

– Israeli startup AI21 Labs has secured $25 million in a funding round led by Pitango First, Pitango Venture’s seed fund. together with TPY Capital. The company’s first product, Wordtune, launched about three weeks ago in both free and paid-for versions “is the first AI-based writing tool able to understand context and meaning.”

– London-based fintech startup TransferGo has received £4 million in financing from Silicon Valley Bank UK Branch (SVB) to expand its real-time payments platform for consumers, SMEs and enterprise clients. The company started in 2012 as a money transfer service and has since shifted its focus to payments, specifically cross-border payments and remittances. The platform now has over 2.5 million customers.

– Audoo, a London-based music tech company working to ensure that artists and composers receive the royalties they’re owed, has raised a £5.2 million Series A round by Björn Ulvaeus and existing investors including Tileyard London. The fresh funding will go to the rollout of the startup’s ‘Audio Meter’, a small device that securely monitors what music a venue is playing.

– We also tracked a large number of (other) European tech funding rounds and M&A transactions, all of which we are putting in a handy list for you on Friday afternoon in our weekly roundup newsletter (note: the full list is for paying customers only). Also check out our European tech news section for ongoing coverage.

Worth Knowing

– Reddit is looking for a Brussels-based lobbyist to “[e]ngage with EU and member state government officials and staff to advance Reddit’s policy agenda, both generally and in response to specific legislative or regulatory matters.”

Europe has 60 unicorn startups at the moment.

UK digital marketing firms are pushing back against Google’s “Privacy Sandbox” initiative. A group of companies have filed a complaint with the CMA to prevent Google from phasing out third-party tracking cookies. The CMA has yet to decide whether to investigate the matter.

How to articulate a clear go-to-market strategy. It can sound like a big, scary thing — but the reality is that a good go-to-market can be simplified into a one-page document. However, there is a lot of work that needs to be done to be able to feel confident in the strategy you put forward to your C-level team.

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