This Week in European Tech: billions of dollars as Cazoo and Lilium go SPAC, Deliveroo’s IPO flop, Glovo’s big funding round, and more

Happy Friday!

This week, our research team tracked more than 60 tech funding deals worth more than €1.4 billion, and about 10 exits, M&A transactions, and rumours, and related news stories across Europe, including Russia, Israel, and Turkey.

As always, we are putting all of them together for you in a handy list sent in our round-up newsletter (note: the full list is for paying customers only).

Recently, we also started publishing ‘Today in European Tech’, a daily round-up of deals and news stories that caught our attention. Keeping you updated on all things EU tech is our priority!

Today, instead of a daily round-up we give you an overview of the 10 biggest European tech news items for the past week (subscribe to our free newsletter to get this round-up in your inbox every Monday morning).

1) Cazoo is on its way to the ‘SPAC exchange’

Cazoo, the UK used-car sales portal that has been on a major fundraising tear in the last year, will list on the NYSE by way of a business combination with SPAC AJAX I; the deal values Cazoo at $7 billion.

2) Lilium to list on Nasdaq in $3.3 billion SPAC deal

Germany-based air taxi startup Lilium has announced their intentions to list on Nasdaq via a merger with a SPAC called Qell Acquisition Corp. The transaction values Lilium at $3.3 billion.

3) Deliveroo’s intensely rough public market debut

Shares in UK food delivery firm Deliveroo fell as much as 30% in its highly anticipated London IPO on Wednesday, wiping about £2.3 billion off the company’s value, and dealing a blow to the city’s renewed efforts to attract tech company listings.

4) Glovo grabs €450 million in fresh funding

Barcelona-based multi-category delivery service Glovo has entered the history books with a €450 million Series F funding round.

5) Fashion marketplace Otrium nabs $120 million

Amsterdam-based unsold fashion marketplace Otrium has raised $120 million in a fresh round of funding co-led by BOND and Index Ventures, and saw follow-on investment from Eight Roads Ventures. The series C round is expected to propel Otrium’s entry to the US market, ramp up additional unsold fashion capabilities, and recruit new staff.

6) UK antitrust watchdog to probe Facebook-Giphy deal

Over in the UK, the watchdog CMA has referred the acquisition of GIPHY by Facebook for an in-depth investigation.

7) Grocery shopping platform Everli raises $100 million

Milan-based online grocery shopping platform Everli has raised $100 million in a Series C round.

8) Google’s €25 million anti-fake news donation

Google will contribute €25 million to the newly set up European Media and Information Fund to combat fake news, amid criticism tech giants are not doing enough to debunk online disinformation.

9) Austrian e-learning firm GoStudent secures €70 million

GoStudent, the Vienna-based e-learning startup, has completed a €70 million Series B round led by new investor Coatue together with existing partners Left Lane Capital and DN Capital, only 4 months after the increase of its Series A.

10) Spotify acquired a Clubhouse-like live audio platform

Spotify will acquire Betty Labs, the company behind the Locker Room, which focuses on live audio.

Podcast(s):

tech.eu Podcast #213: Intel Ignite comes to Munich, bad week for Facebook, SPACs are everywhere

– Interview Special: Jonathan Satchell, Learning Technologies Group

Bonus link(s):

– Europe’s struggle to compete in the supercomputing arena, and why it needs to go from buyer to builder

– 92% of VCs say they offer value beyond capital; founders reply, “mmm yeah no”

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