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Today in European Tech: Kahoot buys Clever for up to $500 million, France's Shift raises $220 million in unicorn round, and more

Robin Wauters 06 May 2021
Today in European Tech: Kahoot buys Clever for up to $500 million, France's Shift raises $220 million in unicorn round, and more
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Hello!

Here's what happened today in European Tech.

Deals

- Not often that a European tech company buys a US-based company for half a billion dollars, but here we are: Norway’s Kahoot this morning announced that it is acquiring California-based Clever, a K-12 EdTech learning platform. The combination of two of the world’s leading digital learning platforms will set Kahoot back up to $500 million, of which up to $65 million will be paid based on performance.

- Paris-based AI SaaS provider to the insurance industry Shift Technology has raised $220 million in a Series D round led by Advent International. Avenir, Accel, Bessemer Venture Partners, General Catalyst, and Iris Capital also participated. With this round, Shift’s total investment to date rises to $320 million and gives the company a valuation of over $1 billion.

- Israeli company Simplex, which provides fiat infrastructure for the cryptocurrency ecosystem, is in advanced negotiations to be acquired by Canadian payment processing giant Nuvei for between $200-$250 million, Calcalist has learned.

- Sweden’s electric and autonomous freight mobility maker Einride has raised $110 million in a Series B round from new investors Temasek, Soros Fund Management, Northzone, Build Capital, and Maersk Growth.

- Moonfire Ventures founder and former Atomico co-founder Mattias Ljungman has launched a new $60 million fund with the goal of becoming the most data-driven VC firm in Europe.

- Microsoft is bolstering its Azure hybrid container platform capabilities with the purchase of Berlin-based startup Kinvolk, the company behind Flatcar Container Linux, an alternative to CoreOS Container Linux designed for container workloads.

- 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 Reading/Knowing

- Microsoft has committed to its commercial and public sector customers in the EU that they will enable them to process and store all their data in the EU.

- Crowdcube launched a new secondary marketplace, and extending an invite to all high-growth European startups to come and use it. Called Cubex, the new marketplace has already been used to facilitate over £16 million in secondary share sales for fintechs like Freetrade and Revolut, but is now being opened up for non-Crowdcube startups to use.

- Intercity buses and trains this week are pulling out of European stations once again. FlixMobility, a German company that has run FlixBus intercity buses since 2013 and FlixTrain rail service on select European routes since 2018, is revving its engines.

- Investment in Spanish startups reaches €1,767,271 million in the first four months of 2021.

- Icometrix: How a winner of EIT Digital Challenge 2020 empowers radiologists — and helps COVID-19 patients.

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Today in European Tech: Kahoot buys Clever for up to $500 million, France's Shift raises $220 million in unicorn round, and more
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