Here's what happened today in European Tech.
- Star investor Lakestar's SPAC rose as it started trading in Frankfurt after raising €275 million in Europe’s largest-ever listing of a blank-check company focused on technology acquisitions.
- Berlin-based ultrafast grocery delivery startup Gorillas has reportedly inked its €100 million investment deal.
- Israeli fintech company Earnix has announced the completion of a $75 million financing round led by Insight Partners. The round was closed at a pre-money company valuation of $1 billion.
- Ageras, a Copenhagen-based company that provides accountancy software and solutions to SMEs and accounting firms, has raised $73 million from Lugard Road Capital, a US-based alternative asset manager.
- With a community of more than 40 million users across the globe, online design platform Canva has made not one but two acquisitions in Europe, picking up both Vienna-based Kaleido AI and Librec, Czech Republic-based Smartmockups.
- Orka Technology Group, a Manchester-based startup building digital solutions for shift workers, has raised £29 million and will use the capital to grow Orka Pay, a flexible wage product that launched last year.
- Israeli private equity fund Fortissimo Capital has announced that it is investing $20 million in Israeli fintech company Green Invoice. Sources estimate that Fortissimo will take a 30% stake in the company at a valuation of $67 million, post-money.
- Andy Murray-backed digital giving platform GoodBox has raised £9 million in a funding round. Founded in 2016 to help non-profits mitigate the negative effects of the cashless society on charitable giving, the Salford-headquartered firm has built a suite of contactless devices.
- 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.
- The European Commission announced three flagship projects - in drone technologies, space communication and space traffic management - aimed at giving the 27-country bloc a competitive edge in these new fields.
- Europe is caught in the middle of an increasingly political showdown over microchips between the US and China and is scrambling to get out of the firing line.
- Microsoft and European media groups have urged EU regulators to require online platforms to seek arbitration in disagreements over how to share revenues with news publishers, a sticking point in the spat between Facebook and Australia.
- TransferWise has just announced its rebranding to Wise, as the London-based fintech company continues to scale around the world. Last year the company announced its fourth year of profitability, with a 70 percent rise in revenue and a fast-growing base in Asia Pacific.
- Spotify has announced a slew of new tools to help podcast creators on its platform develop more interactive shows.
- UK chancellor Rishi Sunak is preparing to unveil a fast-track fintech visa to attract top tech talent to post-Brexit Britain.
- The former CEO of Marvel Entertainment will become non-executive chairman of transport innovator Arrival. The UK-headquartered firm, which is pioneering the use of ‘microfactories’ to build its zero-emission electric buses and vans, is readying itself for a float on NASDAQ.
- Match made in Heaven? A brief history of Seedrs and Crowdcube.
- Atmen, the first Black British-led banking start-up, is gearing up to launch its remittance service and prepaid debit card next month.
Today's Top Tweets
The Manchester startup funding news keeps coming. Third round in the tech press in the past week! https://t.co/00jhNjn5ig
— Martin SFP Bryant (@MartinSFP) February 22, 2021
— Mariya Gabriel (@GabrielMariya) February 22, 2021
In the ever-growing #investment landscape, funds are multiplying and diversifying and for #startups, there is more to raising investment than the money and the media moment. We spoke to Dr. Fiona Pathiraja, founder and managing partner at @CristaGalliVC https://t.co/ydTPmlXBLW
— Maddyness UK (@Maddyness_UK) February 22, 2021
More here 👇🎧https://t.co/aOYZgnHG2Q
— Alex Kayyal (@alexkayyal) February 22, 2021
"Europe’s press publishers & Microsoft call for Australian-style arbitration mechanism in Europe to ensure tech gatekeepers remunerate press publishers fairly for use of content.”https://t.co/ZSjvlwzaJq
— Tech.eu (@tech_eu) February 22, 2021
Lakestar SPAC 1 SE (LRS1.F) started trading at 11.15€ - a 11.5% jump! The first european tech focused SPAC!
Interesting here; the promote is structured in 3 steps. 1/3 at 10€, 1/3 at a VWAP of 12€ and 1/3 at 14€ (after de-SPAC)
— €SPAC (@eurospac) February 22, 2021
📣 Calling healthcare scale-ups... The EMEA Edison™ Accelerator is now OPEN for applications!@GEHealthcare and @WayraUK have launched the #EdisonAccelerator to drive innovative solutions and address new challenges in the #healthcare sector.
— Wayra UK (@WayraUK) February 22, 2021
In the legal scrap between @EpicGames and @Apple the maker of Fortnite has suffered a setback. A London tribunal ruled that Epic couldn't sue US entities of Apple in the UK. English judge said the USA was a better place for this fight, given overlaps. https://t.co/bjuMULNTNT
— Lewis Crofts (@lewis_crofts) February 22, 2021
🗣️"There is a seldom talked about, unpalatable cost of being a founder - the impact on mental health"
⏰ Time to cancel the ‘hustle culture’ and for founders to invest in mental health
— Allied for Startups (@Allied4Startups) February 19, 2021
— Ecommerce News (@EcommercenewsEU) February 22, 2021
The Digital Services and Markets Act is the greatest regulatory threat that Big Tech has ever faced. But the industry is fighting back. https://t.co/0lwv7Wyt4O
— New Statesman (@NewStatesman) February 22, 2021
Interesting FT interview with Andrea Coscelli, chief executive of the Competition and Markets Authority. Sounds like Facebook, Google, Amazon etc are in for a bumpy ride in the UK https://t.co/EBT5oJmYPc
— Sam Shead (@Sam_L_Shead) February 22, 2021
DOT Europe is proud to share with you its research on the 🇪🇺 countries' legal frameworks for online content moderation!
This research was conducted during several months and you are more than welcome to contribute to it 😊
— DOT Europe (formerly EDiMA) (@DOTEurope) February 22, 2021
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