Hello!
Here's what happened today in European Tech.
Deals
- Online DIY platform ManoMano today announced it has raised a $355 million round of financing giving the French scale-up a valuation of $2.6 billion.
- Danish startup Pleo, which sells corporate expense management software and linked “smart” payment cards, has boosted its valuation to $1.7 billion in a $150 million equity financing round.
- Israeli internet recommendation company Outbrain has secured $200 million in funding from Boston-based investment manager The Baupost Group.
- In less than a year after its launch, French industrial company Verkor has secured investments totalling €100 million. This funding is to be used to break ground on the Verkor Innovation Centre (VIC) in Grenoble which is expected to be fully operational by 2022.
- Irish software company Teamwork has secured $70 million in investment form Bregal Milestone to fund further growth.
- Barcelona-based travel tech startup TravelPerk has acquired one of the largest travel platforms in the UK, Click Travel. This marks the company’s third acquisition in a year that’s been nothing short of, shall we say, “interesting”(?) for the travel industry.
- Germany-based urban air mobility firm Volocopter has received Production Organisation Approval, and has acquired long-time partner, composite aircraft production firm DG Flugzeubau.
- Vienna’s e-commerce fulfillment and logistics firm byrd has raised €16 million and is looking to expand into five new markets in Europe.
- 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
- A relatively unknown Swedish company (Embracer) has become Europe’s most valuable video-game developer after the region’s most prolific deal spree.
- France aims to invest nearly €1.7 billion in its 5G market as it hopes for it to be worth €15 billion by 2025.
- A French court has ordered Twitter to provide clear details on what it is doing to tackle hate speech, after several French lobby groups had asked Twitter to clamp down more on hateful content.
- Amazon claims European SMBs sold more than 1.8 billion products on Amazon store last year, and that they created over 550,000 jobs in Europe to date to support their businesses online.
- Tech.eu Podcast: Scaling up rapidly in Europe — with Hanno Renner, co-founder and CEO of Personio.
- VC firm Vertex Ventures has published an updated map of the Israeli Digital Health Ecosystem.
- Driverless robots will soon deliver food to students on college campuses in the United States after Russian tech giant Yandex and online food-ordering company GrubHub agreed a multi-year partnership.
- German fintech firm Solarisbank has launched in France, Italy and Spain to offer local IBANs.
Today's Top Tweets
The @Europarl_EN today adopted the temporary #ePrivacy derogation, which will legalise voluntary #scanning of our electronic communications in search for child sexual abuse material (#CSAM).
— Centre for Democracy & Technology Europe (@cdteu) July 6, 2021
Very excited to publish my latest company deep dive on @Wise that is planning to direct list in the UK tomorrow. There is just so much to like about its mission, business model, founding team (@kaarmann, @taavet) and financial metrics. https://t.co/G915GHC5um
— Chirag Modi (@modic123) July 6, 2021
Next week, the Women VC Managers Group ♀️ will hand me its report. @KingaStan1
Join the ceremony & discover how we will increase venture capital for #women led companies together!
⏰15 July Register: https://t.co/RgLUTrKtx1 pic.twitter.com/Ut55JPx2tu
— Mariya Gabriel (@GabrielMariya) July 6, 2021
Getting ready to announce your startup’s funding round? It’s well worth reading this guide to PR photos by @sensorpunk, who knows a lot about both startup photography AND funding round announcements. https://t.co/4pkhO4T8td
— Big Revolution (@thisisbigrev) July 6, 2021
New : There's more to the EU AI regulation than meets the eye: big loopholes, private rulemaking, powerful deregulatory effects. Analysis needs connection to broad—sometimes pretty arcane—EU law@fborgesius & I have done it so you don't have to: long https://t.co/aawuWFunFq pic.twitter.com/7SAeR6bVq9
— Michael Veale (@mikarv) July 6, 2021
Next in our #ToThePoint series of free virtual events
Scaling up abroad: How to make your expansion a success story
SAVE THE DATE! 28 July 2021, 11:00AM CEST#SaveTheDate #CrossingBorders pic.twitter.com/0EhJTyIlln
— Tech.eu (@tech_eu) July 6, 2021
Revolut opened up a secondary trading window for its shares on @Seedrs today, which would be odd if it were about to close a new funding round.
Shares traded as high as £350 (vs £94 at last funding round when company was valued at $5.5bn) and at a VWAP of £205.
— Marc Rubinstein (@MarcRuby) July 6, 2021
EU digital and competition chief Margrethe Vestager will make her first trip across the Atlantic since 2019 at the end of September — while the Commission's lawyers will defend her €4.3 billion case against Google's Android in court (1/2)
— Simon Van Dorpe (@simonvandorpe) July 6, 2021
How to approach case studies in VC interviews - episode LIVE
@FCBaillieu and @RiskyTund discuss the criteria funds use to assess companies, common metrics and industry benchmarks and how to make the case for a founder
Take notes!https://t.co/f5eV74cJWy
— Associated (@associated_pod) July 6, 2021
Congratulations to @jepperindom, @niccoistaken and the entire @pleo team on raising their $150m Series C!
We’re thrilled to have been part of @pleo's journey from their seed round pic.twitter.com/p4cRzrWZei
— seedcamp (@seedcamp) July 6, 2021
Wise + @Monzo = #Wizo = the dream team making international transfers better (together) since 2018.
But now, even smoother.
Check out what's new: https://t.co/mU7iOkBsUb pic.twitter.com/kSjtMTgLdV
— Wise (ex-TransferWise) (@Wise) July 6, 2021
Unicorns, unicorns. The European tech ecosystem loves to talk about unicorns. But what really makes a healthy ecosystem? Is there a better way to measure its success? @christianbowens, co-founder and CEO of scaleup @PaddleHQ , shares his thoughts https://t.co/4oJ7J6qa64
— Soaked by Slush (@soakedbyslush) July 6, 2021
Bruno Le Maire: France is ready to make a binding promise to remove the country's national digital tax as soon as the new global taxation deal is in force, @gioleali reports. https://t.co/Tu4EGlb63C
— Laura Kayali (@LauKaya) July 6, 2021
Significant statement by @DCMS today on digital regulation. The Government is not only defining in its view what is digital regulation, but also its principles for the future design of that regulation. Some thoughts from @techUK on what this means and what next https://t.co/XjTEIvbZKb
— Neil Ross (@neil13r) July 6, 2021
Excited to reveal that our founder @CordeliaMeacher will joining a stellar cast — @robinwauters of @tech_eu, @Siftedeu’s @mparts_, and @RylandJulie from Gelato — to discuss #PR #comms #mediarelations for #tech #startups on this panel at @OsloIW #OIW2021 ➡️ https://t.co/l9XnoHWqXE
— FieldHouse (@WeAreFieldHouse) July 6, 2021
We're thrilled to announce Tessa Wanders just joined our investment team @Peak #startups #fundraising #venturecapital pic.twitter.com/n9CciYm0rU
— Peak (@PeakCapitalVC) July 6, 2021
Europe is already today - and will be even more so in the future - an amazing breeding ground for FinTech.
So many big funding rounds and talent that is working in that segment
— Robin Dechant (@robindchnt) July 6, 2021
.@FranzFayot & Sasha Baillie ont officiellement lancé la plateforme web https://t.co/TIG5f11mHY. Soutenue par le @MinEcoLux & gérée par @Luxinnovation, l’initiative publique #Startup #Luxembourg est au service de l’ensemble de l’écosystème. Plus d’infos https://t.co/VpUCrXLlUe pic.twitter.com/V6uetaJRfS
— MinEconomyLU (@MinEcoLux) July 6, 2021
"We see PayPal Zettle as an orchestrator for commerce tools." How European tech could help @PayPal in the U.S. https://t.co/kTrB39fUdt
— AB Payments (@payments_source) July 6, 2021
Thanks @LarissaHolzki for the coverage: 10 years for R&D work at TUM turned into a company. We need more of this in Germany https://t.co/LUE0R25qpG
— Fly Ventures (@FlyVC) July 6, 2021
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