Today in European Tech: Accel’s fresh $3 billion funds, new CEE data, Jfrog to buy Vdoo for $300 million, Zoom buys Kites, and more

Robin Wauters

Robin Wauters

Co-founder and editor-in-chief of Tech.eu, with previous stints at The Next Web and TechCrunch under his belt. Deeply in love with his family, technology, traveling and Belgian beer.
robin@tech.eu

Hello!

Here’s what happened today in European Tech.

Deals

– Accel has closed $3 billion across three new funds: its fifteenth US early-stage fund of $650 million, its seventh early-stage fund for Europe and Israel of $650 million, and its sixth ‘growth fund’ of $1.75 billion.

DevOps platform JFrog is to acquire fellow Israeli company Vdoo in a cash and stock-based deal valued at approximately $300 million.

Berlin-based Urban Sports Club has raised €80 million in growth financing.

– Zoom has acquired Karlsruhe, Germany-based machine translation tech company Kites for an undisclosed sum. The acquisition is meant to assist Zoom’s engineering staff “advance the field of MT to improve meeting productivity and efficiency”.

Amsterdam-based VC firm Peak is branching out beyond its traditional Benelux region focus with a €66 million fund that specifically focuses on German startups.

Paris-based proptech startup WeMaintain has raised €30 million in a Series B round, with the ambition of becoming the go-to when it comes to critical building management systems.

– Sony has acquired Housemarque, the Finnish game studio behind recent PS5 exclusive Returnal.

– Israeli startup BreezoMeter, which aims to monitor air quality and improve people’s health by using atmospheric data, has closed a $30 million Series C funding round led by Fortissimo Capital.

– 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

– Invest Europe has released its 2020 Central and Eastern Europe Private Equity Statistics. The report shows that the number of CEE companies receiving private equity investment increased by 15% on the previous year’s record and beat the five-year average by 46%.

– After years of fighting against a “Europe first” approach in research funding, policy makers and lobbyists in Brussels now want to explicitly limit access for scientists in countries that flout academic freedom and intellectual property rights.

– When it comes to technology, Morgan Stanley says it’s “Europe’s time to shine.” Its analysts have named their six favorite stocks across fields like electric cars, drones, 3D-printing and sustainable technologies.

– Late-stage capital is having a ‘cascading effect’ on European VC activity.

– A number of top telco execs have called on the EU to overhaul its regulatory framework.

Europeans have low trust in technology and this might hamper the uptake of emerging technologies, the European Commission’s Executive Vice President Margrethe Vestager has warned.

– Coinbase has received a crypto custody license from Germany’s Financial Supervisory Authority (BaFin), allowing Coinbase to continue serving the German market.

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