Here’s what happened today in European Tech.
– 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.
– 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.
Today’s Top Tweets
Today, we’re announcing Accel’s latest funds. We believe that the opportunities for entrepreneurs to succeed globally will only accelerate, & we’re committed to supporting the next generation of founders from the earliest stages through to IPO https://t.co/DBku3T568L
— Accel (@Accel) June 29, 2021
10y ago, key question was whether & could generate
largest 2021 SW IPO 2021 @UiPath
innovation can come from anywhere in the world
Looking forward to partnering with the next generation of entrepreneurs with our new fundshttps://t.co/mpTHGznbc6
— Philippe Botteri (@pbotteri) June 29, 2021
Good m&a is mainly about making more out of the business you acquire. 4.5 years ago we acquired foodpanda. Their APAC business did 0.6m monthly orders, grew c. 60% YoY. Today the same business does over 70m monthly (120x) , growing faster and has better margins.
— Niklas Oestberg ♂️ ♀️ (@niklasoestberg) June 29, 2021
We are thrilled to announce that Elena Pantazi @ecpantazi becomes our first Partner dedicated to Talent and Portfolio Development – welcome on board, Elena!
More about our platform and expansion plans https://t.co/HMNRRdj3d1
— Northzone (@northzoneVC) June 29, 2021
Success breeds success. The compounding growth of the European ecosystem at a 24% Cagr over the last 16 years is increasing Europe’s share of global VC to 17%. Let’s not underestimate the power of this. https://t.co/ImgyCNpunY
— Mattias Ljungman (@Ljungman) June 29, 2021
Woohoo Our shared satellite service startup @EnduroSat is sending their first shared mission into orbit. SPARTAN carries 7 units and is riding to space with the SpaceX Falcon 9 tonight!
— Frank Thelen (@frank_thelen) June 29, 2021
Are you interested in disrupting the VC ecosystem? NVP is now seeking: 1️⃣Head of Partnerships 2️⃣Head of Learning to join core team, furthering our vision: By 2030, 50% of venture investors will be from previously underrepresented backgrounds. Sounds like a fit for you?
— Newton Venture Program (@NewtonProgramVC) June 29, 2021
These are the key figures on #PrivateEquity in Central & Eastern Europe in 2020:
➡️ More than €1 billion of capital raised
➡️ 566 companies supported with investment
➡️ More than €1.6 billion invested
Find out more: https://t.co/mHC5XbMUIL #CEE #PEinCEE
— Invest Europe (@InvestEuropeEU) June 29, 2021
Who is going to join forces with me @OctopusVentures to launch an exciting micro fund?! If you have a passion for super early stage European tech startups, apply now https://t.co/ZBI44IXCld. #startups #venture #entrepreneurs
— Kirsten Connell (@kirst) June 29, 2021
— EU Competition (@EU_Competition) June 29, 2021
Marketing is a major part of the Cherry story.
And we want to help founders unlock their marketing know-how.
— Cherry Ventures (@CherryVentures) June 29, 2021
Looking forward to moderating a panel at #DLDSummer 2021 in Munich on Europe's role in #space innovation with @utumx 's Christian Mohr and a separate on space session with @Werner Vogels, VP & CTO at https://t.co/mUOIYPxwL5 pic.twitter.com/BRrMH4kD9b
— Jennifer Schenker (@jennschenker) June 29, 2021
Financial technology startup @nordigen announces Nordigen for Startups – a new program that supports European startups with easier and more affordable access to open banking technologies. https://t.co/K5p4iqx4a7
— Labs Of Latvia (@labsoflatvia) June 29, 2021
We are delighted to announce that HTGF has achieved another successful exit, with the EH-D assets being sold to @BoschRexroth. EH-D is the ninth #HTGF portfolio company to be acquired by a HTGF fund investor. Congratulations! Press release https://t.co/79IFO3j30w pic.twitter.com/dK9vAn8GdY
— HTGF (@HTGF) June 29, 2021
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