This Week in European Tech: Snyk raises $530 million, Agile Robotics is Germany’s latest unicorn, Scalapay scores $155 million, 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

Happy Friday!

This week, our research team tracked more than 89 tech funding deals worth more than €2.3 billion, and 16 exits, M&A transactions, and rumours across Europe (including Russia 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).

Here’s an overview of the 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).

This week:

1) From code to cloud, UK-based developer security platform Snyk has raised a mammoth $530 million in a Series F investment round co-led by Sands Capital and Tiger Global.

2) SoftBank is leading a $220 million round into Agile Robots, a German startup that says its systems will be deployed by Foxconn, the assembler of iPhones, to help build smartphones.

3) Swiss gravity-based renewable energy storage provider Energy Vault is expected to raise up to $388 million in cash proceeds in a SPAC merger with Novus Capital Corporation II. Once completed, the combined company will have an implied pro-forma value of $1.1 billion.

4) London-based data centre provider Verne Global has been acquired by crosstown investment trust Digital 9 Infrastructure in a deal valued at approximately £231 million.

5) Milan-based buy now pay later player Scalapay has raised $155 million in equity funding in a Series A round.

6) EQT’s Public Value division has acquired 6.6 million shares of Stockholm-based audiobook and e-book streaming service, Storytel. This purchase represents 9.7% of shares outstanding, which would value the deal at just shy of €138 million.

7) Revaia, now formerly known as Gaia Capital Partners, has announced the final close of its first growth fund. Going above and beyond its initial target of €200 million, with a close at €250 million, the firm now holds the title of being Europe’s largest female-founded VC fund.

8) London-based digital insurance start-up Marshmallow has raised $85 million in a funding round valuing the company at $1.25 billion. Founded by mixed-race identical twins Oliver and Alexander Kent-Braham, it’s the second Black-owned company in Britain to reach “unicorn” status.

9) 3D Systems has agreed to acquire software startup Oqton, a Belgian SaaS company that offers an agnostic, intelligent, cloud-based Manufacturing Operating System (MOS) platform that automates the end-to-end workflow. The total purchase consideration for this transaction is $180 million.

10) Buy now pay later provider DivideBuy has secured a £300 million lending facility as it continues its stellar growth trajectory. The Newcastle-under-Lyme business, a rival to Klarna, is on track to hit £175m gross merchandise value this year.

Podcast:

🎧  — What’s an e-commerce platform — with Boris Lokschin, Spryker

Bonus links:

– Intel said it could invest as much as €80 billion in Europe over the next decade to boost the region’s chip capacity and will open up its semiconductor plant in Ireland for automakers.

– The European Commission has published the results of a study analysing the economic impact of Open Source Software and Hardware on the European economy.

– Google faces an EU antitrust investigation over whether it may be forcing device makers to install Google Assistant as the default voice assistant on Android devices.

– Spotify founder and CEO Daniel Ek has raised another €66 million for his ‘Prima Materia’ fund.

– Estonia’s Digital Testbed Framework is a new and innovative collaboration model designed by the country’s government that aims to give startups, scale-ups and govtech innovators access to the technologies that the state uses to build its own digital services.

– It looks like Monzo and Revolut are set to enter the fast-growing but controversial ‘buy now pay later’ market to rival Klarna and others.

– With policies to attract and support new investments and innovation in biotechnology and medical research, Lithuania’s goal is to become Europe’s most attractive country for life sciences by 2030.

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