Categories: Tech News

This week in European tech: Darktrace and Babylon may go private, 20VC buys media-on-demand agency, 2xN launches $120m fund and more

This week, our research team tracked more than 50 technological financing offers worth more 240 million eurosand more 15 exits, M&A deals, rumorsand related news across Europe.

As always, we’re putting them all together for you in a list sent to our digest newsletter next Monday (note: the full list is for paying customers only and also comes in the form of a handy downloadable spreadsheet) .

We also have news for you: we are already preparing the second edition of the Summit! Save the date:

Tickets are now on sale.

If you haven’t seen them yet, we’ve made all the videos from last May’s Summit available as a playlist on our YouTube channel – enjoy!

That said, let’s get down to business with the biggest European tech news of the last few days (subscribe to our free newsletter to get this roundup delivered to your inbox).


>> Notable and large funding rounds

UK peer-to-peer (P2P) lending and investment platform Assetz Capital has agreed a £200m funding partnership with Aeon Investments.

Berlin-based AI startup Solsten has raised $21.8 million in funding to help brands understand their customers on a deeply human level to create new experiences.

Bristol-based Super has raised £22.5m in a funding round led by none other than existing investor Accel. Founded earlier this year by the former CEO and co-founder of another fintech you’ve heard more about, the publicly traded Funding Circle, Samir Desai, Super’s raison d’être is simple: to help companies and consumers to keep more of their difficulties. they earned cash in their pockets.

Cambridge-based biotech startup Constructive Bio has raised $15 million in funding to create technology to produce synthetic genomes and reprogram the genetic code of living organisms.

Dutch climate startup Gradyent, which has developed technology to help heating companies optimize their heating systems and save CO2 to deliver affordable and reliable heat, has provided €10 million in funding to make heating systems urban areas are more efficient and sustainable.


>> Notable acquisitions, mergers, IPOs and SPAC transactions

Software investment firm Thoma Bravo has closed the acquisition of Mercell, a European provider of procurement and e-bidding systems, for approximately $330 million. The company has now been delisted from the Norwegian stock exchange.

As food delivery services struggle to keep up with the surge in demand they witnessed at the height of the coronavirus pandemic, Amsterdam-based food delivery startup Just Eat has sold its stake in Brazilian food delivery company iFood in investment firm Prosus. The agreement valued at 1.8 billion euros will give Prosus full control of the Latin American company iFood.

With competition ever increasing in the VC deal flow space, Harry Stebbings’ 20VC has acquired specialist short-form video company Good Future Media for an undisclosed sum.

Luxembourg cold storage specialist B Medical has been acquired by a US life sciences company for €410 million.

The Netherlands startup offering molecular diagnostic kits Genome Diagnostics (GenDx) has been acquired by Paris-based Eurobio Scientific for €135 million.

Cambridge flow sensor technology company Flusso has been jointly acquired by two global buyers for £28m., a Paris-based company that provides a multidisciplinary and interactive platform for healthcare team education, announced Friday that it has been acquired by New York-based WebMD.

UK-based rental platform Fat Llama has been acquired for $41.5 million by Swedish online rental marketplace Hygglo to create one of the largest peer-to-peer rental platforms in the world.

Bucharest-based co-investment platform in tech startups SeedBlink has acquired Dutch investment crowdfunding platform Symbid.

UK-based Sage, a specialist in accounting, finance, HR and payroll technology for SMEs, has acquired Lockstep, a provider of cloud-native technology that automates cross-business accounting workflows.


>> Interesting moves by investors

Brevan Howard Asset Management has secured the largest hedge fund launch to date. The European investment firm’s flagship vehicle focused on digital assets reportedly raised more than $1 billion from institutional investors.

The European Innovation Council wants the EIC Accelerator program for deep tech startups up and running as soon as possible to avoid further damage to the fund’s reputation.

London-based VC 2xN has launched a $120 million fund to support quantum computing startups across Europe.

Lithuania-based climate tech Contrarian Ventures has launched its second fund with €100 million to close the funding gap for future climate tech founders and mobilize the resources needed for climate action.

The Stockholm-based Norsken Foundation announced on Tuesday that it has launched the Norrsken Impact100, an annual list of the world’s most promising impact companies that shines a light on founders who are changing the world for the better.


>> In other (important) news.

Darktrace shares rose after the UK cybersecurity company said it was in early discussions with private equity firm Thoma Bravo about a possible takeover.

Investors in Ziglu’s last two funding rounds will see a loss following its acquisition by digital wealth giant Robinhood, as the finance tech giant looks to cut Ziglu’s price by 60%.

Babylon soared 9.2% before its shares were halted on pending news following a report that the UK-based digital health company is said to be considering a take-private transaction. Babylon said it has not engaged or had contact or discussion with any potential acquirer, according to a statement.

The European Central Bank (ECB) has announced its intention to harmonize the way banks offer crypto assets through a crypto regulatory framework to be implemented across the EU.

High-flying travel startup Pollen collapses, leaving a trail of complaints.

Singapore-based crypto asset trader has become the latest company to receive regulatory approval from the UK’s Financial Conduct Authority (FCA).

Germany’s Egym could be preparing for an IPO next year.

Britain launched dispute proceedings against the EU on Wednesday (17 August) over the long standoff that has kept UK universities and researchers out of the €95.5 billion Horizon Europe research program two years after ‘agree participation as part of the Brexit deal.

A significant part of Meta’s executive team is decamping to London.

Uber said it will increase fares across the UK, leading to an average 5% rise in London fares as the ride-hailing company works to attract more drivers.


>> Recommended reading and listening

Big deal: Inside EV charger maker Wallbox’s expansion plans after acquiring partners Coil and ARES

European venture capital valuations tend to rise in the face of uncertainty

From operator to VC: Speedinvest’s new partner Andrea Zitna dissects the European healthcare tech ecosystem (video interview)

The future of digital banking in the UK: Digitization to the core with nimble fintech players

How early European accelerators influenced what we do today

TechUkraine, in collaboration with the Ukrainian Startup Fund, the Ministry of Digital Transformation of Ukraine, Emerging Europe, Tech Emerging Europe Advocates, Global Tech Advocates and TA Ventures, have published the results of a survey examining the ecosystem of companies in the country.

The 10 European countries with the highest salaries Summit: An Introduction to the Complex Art of Tech Storytelling (For Founders and Investors Alike)

Why London tops the global fintech venture capital funding league

How to Secure Web3 and Crypto Assets at the Enterprise Level: A Video Interview with Ledger Executive Alex Zinder

The semiconductor boom: has the UK lost its chance?

Immigration, innovation and Ireland

Europe’s most active domestic venture investors

The rise and rise of data centers in Ireland

The influx of US capital: Does Europe have all the talent it needs?

IFA 2022: What’s the plan for Europe’s biggest tech conference?


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