This Week in European Tech: UiPath’s IPO, Alan raises €185 million, EU drafts new rules for use of AI, Trendyol nabs $330 million

robin@tech.eu

Happy Friday!

This week, our research team tracked more than 85 tech funding deals worth more than €1.7 billion, and about 15 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) UiPath: from Bucharest to the moon

Romania-born robotic process automation software firm UiPath rose 17% in the company’s stock market debut after the software vendor and its investors reeled in $1.34 billion in its IPO. The shares opened at $65.50, giving it a market value of $34 billion upon debut.

2) Alibiba increases state in Turkey’s Trendyol with big investment

Turkish e-commerce platform Trendyol has received an additional $330 million investment from existing partner Alibaba in a capital increase. With this injection of capital, Alibaba now holds an 86.5% stake in the company.

3) The EU has proposed new rules on the use of AI

The European Commission announced tough draft rules on the use of artificial intelligence, including a ban on most surveillance, in an attempt to set global standards for a key technology dominated by China and the United States.

4) French insurtech scale-up Alan closes €185 million round

Healthcare app Alan has raised €185 million in a series D round, now bringing the company’s valuation to €1.4 billion. The round saw participation from Coatue, Dragoneer, Exor, and existing investors Index Ventures, Ribbit Capital, and Temasek.

5) Cash for carpooling: BlaBlaCar raises $115 million

French startup BlaBlaCar has raised a new $115 million funding round. While the company is better known for its long distance carpooling marketplace, BlaBlaCar has also added a bus marketplace.

6) Swedish online grocer MatHem secures €100 million+ in funding

Kinnevik is clearly going all-in on the red-hot online grocery delivery market. Just two weeks ago, they dropped at cool €220 million on Norway’s Kolonial (now Oda), and now how jumped into MatHem’s shopping basket (again) to the tune of €14.8 million in the grocer’s €108.7 million funding round.

7) Under investigation in the United Kingdom: the Arm-NVIDIA deal

UK Digital Secretary Oliver Dowden issued a “Public Interest Intervention Notice” in relation to the proposed $40 billion sale of ARM to NVIDIA, effectively instructing the Competition and Markets Authority to kick off an investigation.

8) More funding in France as Ornikar raises €100 million to scale up

French startup Ornikar, which set out to bring a new approach to driver education and road safety, and then used that foothold to expand into the related area of car insurance, has raised €100 million.

9) Re-commerce group musicMagpie went public in London

UK-based re-commerce group musicMagpie has been admitted to the AIM market of the London Stock Exchange this morning, giving it a £208 million market cap.

10) Dott scores $85 million to scale its micromobility services

Micromobility startup Dott with headquarters in Paris and Amsterdam has secured $85 million in a Series B funding round. The capital injection was co-led by Belgium-based Sofina and UK-based Estari.

Podcast(s):

tech.eu Podcast #216: Keith Grose and Plaid’s future in Europe, #helpimaguru, NVIDIA’s acquisition of ARM put on hold, and more

– tech.eu Podcast interview special: Annika Sjöberg and Bo Ilsoe of NGP Capital talk about gender and VC funding in Europe (also see link below)

Bonus link:

NGP Capital, the Finland-born global VC firm, released a new depressing report on the abysmal state of gender parity in the European tech startup and investment community.

– Investment firms Creandum and Speedinvest believe Europe will pave the way for ‘Climate Tech innovation’, and published an insightful report/landscape on the current state of, and notable trends in the sector.

– German capital Berlin became number one in Startup Heatmap’s annual survey of Europe’s best cities for fledgling companies, overtaking London.

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