This Week in European Tech: Big Funding Rounds in France, Instabee Buzz, More Than €1.5 Billion in Extra Venture Capital “Dry Powder”, Glovo Fined, and More

This week, our research team tracked more than 110 technology financing agreements the penalty more than 1.4 billion eurosand more than 10 outputsM&A transactions, rumors and related reporting across Europe.

As always, we’re rounding them all up for you in a list sent out in our summary 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 for the second edition of the Summit! Save this 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 past few days (subscribe to our free newsletter to get this roundup delivered to your inbox).


>> Notable and important funding rounds

French insect protein startup InnovaFeed has raised $250 million in a Series D funding round. Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund, led the investment.

The British Intermediate Capital Group is investing 240 million euros in Zeplug, a French company specializing in electric vehicle (EV) charging services in multi-occupancy and office buildings.

French startup Bump has signed a multi-year funding partnership with DIF Capital Partners to deploy more electric vehicle charging stations and double its overall growth. It is a $180 million equity and quasi-equity deal that will be phased out from 2022 to 2030.

To help SMEs and enterprises navigate this reality, Munich-based data privacy, information security and compliance platform DataGuard has provided €61 million in funding.

In a rapidly changing restaurant market, French restaurant technology platform Zenchef has raised more than €50 million from PSG Equity to develop technology solutions for the restaurant industry and accelerate its growth in Europe and the United States. United States

Latvia-based fintech that provides online consumer credit services, Sun Finance has launched its largest bond issue to date for €50 million.

Paris-based inventor of advanced neuromorphic vision systems, Prophesee announced the completion of its Series C funding round with the addition of new investment from Prosperity7 ventures. The round now stands at 50 million euros.

The Swiss nonprofit GRN has secured a total investment of $50 million for the GRNGrid project from GEM Digital Limited, a venture capital focused on digital currencies.

Estonian 3Commas, an automated crypto trading robot platform, raised $37 million in a Series B funding round led by investment firms Target Global, Alameda Research and Jump Crypto, as well as Dmitry Tokarev, founder and CEO of crypto custodian Copper.

London-based deep tech startup Hadean has raised $30 million in funding to develop its metaverse infrastructure technology to support virtual worlds in immersive entertainment and enterprise digital twins.


>> Notable SPAC acquisitions, mergers, IPOs and transactions

Schneider Electric has agreed to buy out Aveva’s minority shareholders in a deal that values ​​the British industrial software company at £9.5 billion, the latest foreign takeover of a British technology company.

As the market for last-mile delivery space intensifies, two Swedish-founded last-mile delivery companies, Instabox and Budbee, have joined forces in a new holding company, Instabee, to drive the e-commerce shipping. The new combined company is valued at 1.67 billion euros and the founders will be, together with Kinnevik, the main investors.

Capita Digital Consulting and Services is to sell its UK-based Pay360 business to Access PaySuite in a deal worth £150m.

Kambi, a Malta-based sports betting company, has acquired Copenhagen, Denmark-based front-end technology specialist Shape Games for €78.1 million.

Allurity has acquired Spanish multinational Aiuken Cybersecurity, an important step in its journey to become Europe’s leading cybersecurity provider.

Portuguese pet and wellness products supplier Barkyn has acquired Spanish rival Happets for an undisclosed sum.

Ukrainian software developer TechMagic has acquired American company Dynamo Development.


>> Interesting investor moves

Visionaries Club has announced a second B2B-focused fund, with a new €150 million seed fund and a €200 million early growth fund. It is also launching the Visionaries Club’s €50 million science-focused “Tomorrow Fund” to support science-driven startups in the pre-seed and seed stage.

Hamburg-based VC Digital Transformation Capital Partners (DTCP) announced the first closing of its $300 million growth capital III fund. He plans to continue raising significant capital for the fund and aims to close fundraising in 2023.

Swisscom Ventures steps up investment activities after raising €300 million, most of which comes from external investors

Berlin-based climate venture capital firm Extantia Capital has announced a €300 million platform to invest in and accelerate climate technology innovation.

The Spanish investment company Alantra and the energy company Enagás, through its subsidiary Enagás Emprende, closed their energy transition fund with 210 million euros in commitments.

California-based Silicon Valley Bank has converted its UK branch into a wholly-owned subsidiary and hired a new management team and board to focus on growth in the UK.

Web Summit, one of the world’s largest events focused on tech startups, will launch an all-new venture capital vehicle consisting of two new $20 million funds, reports TechCrunch.

Ignite Accelerator has appointed Jo York as CEO to oversee the implementation of its startup programs and alumni engagement.

London is still high on European investors’ wish lists according to global tech venture capitalist Northzone.

Aiming to break down barriers and support meaningful innovation, Impact Shakers made its first investments through its microfund which backs purpose-driven companies led by underrepresented founders.


>> In other (important) news

The UK financial regulator has warned consumers against dealing with FTX, the cryptocurrency exchange.

Spain’s Labor Ministry has fined local Delivery Hero unit Glovo €79 million for violating a law requiring food delivery companies to officially hire drivers.

London-listed asset manager Jupiter is completing the sale of a stake in Starling Bank at a steep discount to its last valuation of £2.5bn.

Europe is one step closer to a ban on facial recognition.

UK media regulator Ofcom is investigating Amazon, Microsoft and Google’s tight grip on the cloud computing industry.

Online furniture retailer Nosediving is considering a sale as part of a strategic review. The London-based company joined the London Stock Exchange’s main market in June 2021 at a valuation of £775m, but is worth less than £23m today.

Swedish buy-it-now-pay-later provider Klarna aims to continue cutting costs by further reducing its workforce.

The European push to reform the way the value of research is assessed is about to enter a new phase, with the action plan which was finalized in July opening up to organizations to approve it the week next.

After spending the past few years teasing its literary ambitions, Spotify has officially launched its audiobook business with an a la carte model that will allow users to purchase and download individual audiobooks. At launch, Spotify’s audiobook catalog includes 300,000 titles from major and independent publishers for users in the United States.

European open banking platform TrueLayer is set to cut 10% of its workforce, or around 40 employees, due to “difficult market conditions”.


>> Recommended reading and listening

Big Deal: Denmark’s Podimo quietly takes on the podcasting giants

Inside Pollen Collapse: ‘$200 Million Raised’ But Staff Are Not Paid

🎙️ Rock Stable with Rockstart Emerging Tech Fund Europe Managing Partner – Michael Bjørnlund

Moving people and things: what future for mobility and green transport?

Inclusivity platform Include Me has launched a directory of ‘outstanding entrepreneurs’ from diverse backgrounds, based across the UK, to provide more role models for underrepresented groups in the UK business industry and of technology.

Europe and France want to create a kinder, gentler metaverse that isn’t dominated by cowardly American bullies.

🎙️ From Zero to Hero in Record Time with Zilch CEO and Co-Founder Philip Belamant

Elon Musk may regret setting up Tesla’s first European factory in Germany

rancophonie Avenir (@Francophonie9), an association dedicated to defending the French language, is suing several French government start-ups for the use of anglicisms in their names.

Female angel investors have invested £2bn in UK businesses over the past decade

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