This Week in European Tech: Klarna buys Pricerunner, Vertical Aerospace nabs €177 million, Allegro buys Mall Group, and more

robin@tech.eu

Happy Friday!

This week, the Tech.eu research team tracked more than 100 tech funding deals worth over €850 million, and over 20 exits, M&A transactions, and rumours, and related news stories 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) Swedish payments firm Klarna has acquired Pricerunner, a Stockholm, Sweden-based digital company running a retail price comparions platform. According to official releases, one of company’s owners, Creades, is selling its entire 12% equity stake for about $123 million, meaning a total company valuation for Pricerunner of roughly $1 billion.

2) Allegro has acquired one of the largest e-commerce platforms in the CEE region: 100% of the Czech-based Mall Group and WE | DO shares for a total of €881 million.

3) Vertical Aerospace, a Bristol, UK-based company that’s pioneering electric aviation, announced that it has secured approximately €177 million in additional funding to support certification and scale production of the VA-X4 electric vertical take-off and landing (eVTOL) aircraft.

4) Thanks to the release of its third quarter 2021 financial results, we now know how much ABB paid to acquire ASTI Mobile Robotics. ABB spent $190 million to acquire the Spanish developer of autonomous mobile robots.

5) Spain has adopted a European Union copyright directive that allows third-party online news platforms to negotiate directly with content providers, the government said on Tuesday, setting the stage for Google News to return to the country.

6) Moonfare, the Berlin-based digital private equity investment platform for individual investors, raised $125 million in Series C funding, led by New York-based Insight Partners.

7) MotorK, an Italian software company that helps car dealerships manage their digital presence, as well as with sales and marketing, raised €75 million in an IPO this week, selling a 36.4% stake in the company.

8) London-based Land Securities Group acquired a majority stake in MediaCity, a media, digital and tech hub in Salford, Greater Manchester that has a gross value of around £570 million.

9) London’s Permutive has raised $75 million in a Series C round. The eight-year-old company specialises in providing publishers and advertisers an on-device solution that reaches end-users in a privacy-safe manner, all the while retaining their first-party data.

10) Announced at COP 26, Scottish agritech startup Intelligent Growth Solutions (IGS) closed its Series B funding round at £42.2 million.

Podcast:

🎧 40,000+ people came to Lisbon this week — a chat with Paddy Cosgrave, co-founder and CEO of Web Summit

🎧 The legal side of entrepreneurship — with Karola Kassai, KassaiLaw

Bonus links:

– Proposed European regulation that could force Apple to allow iPhone users to install software from the web would open ’“Pandora’s box” and could pose threats to entire networks of computers, Apple software senior vice president Craig Federighi said in a speech on Wednesday.

– An in-depth look at the UK’s current list of unicorn companies, the investors and accelerators that have supported them, and the founders leading them forward.

– The French Secretary of State for Digital, Cédric O, presented a plan on Tuesday (2 November) to support the French and European cloud sector with €1.8 billion over four years.

– The EIT Community Booster is looking to support tech startups that are turning the European Green Deal into a reality.

– Revolut is recruiting a technical lead to build a crypto exchange.

– Sber, the Russian financial and digital giant, is preparing to open an R&D center in Berlin — its first one in Western Europe.

– SAP is transitioning its fleet of 27,000 corporate cars to emission-free autos, and from 2025 will no longer allow the ordering of vehicles with combustion engines.

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