This week in European tech: flexible chips, Bitcoin rallies, and the EU AI Act stalls

This week in the world of tech funding, our research has identified more than 90 funding deals valued at over €1 billion, along with 10+ exits and M&A transactions.

Last week, we unveiled our November 2023 report and are now putting the final touches on our Annual Report. We’ve gathered data on 2023’s deals, mergers and acquisitions, country-by-country performance, Europe’s most active investors, and much more. Stay tuned for the comprehensive analysis!

We’ve also compiled essential industry-related news items for your convenience. For those who prefer email updates, you can subscribe to our newsletter for a more in-depth version of this round-up delivered straight to your inbox.

In addition to the top financial news this week, here are some notable highlights:

💸 Notable and big funding rounds
– Pragmatic secures £182M for the expansion of silicon-free chip production in the UK
– Sanofi offers up to $140M in a new collaboration with Aqemia in France
– Liberis raises $112M in debt financing to expand embedded finance solutions for SMEs in the UK

🫱🏽‍🫲🏻 Noteworthy acquisitions and mergers
– KKR takes Glasgow’s Smart Metering Systems private in a £1.4B deal in Scotland
– Softbank Corp acquired a 51% stake in Cubic Telecom for approximately $513M in Ireland
– Octopus ties the knot with divorce startup Amicable in the UK

🚀 Interesting moves from investors
– Collateral Good and HUGO BOSS launch a €100M fund dedicated to sustainable fashion in Switzerland
– Amsterdam-based Rockstart launches a €50 million second AgriFood fund in the Netherlands
– Denmark’s European Energy announces a €150M funding facility for renewable energy projects in France

🗞️ In other important news
– Trilogue talks resume on EU AI Act in the European Union
– The UK’s top mobile firms face a £3.3B class action lawsuit over ‘loyalty penalties’ in the UK
– Meta faces a $600M competition damages claim in Spain as media owners pursue a privacy breach lawsuit in Spain

📡 Recommended reads and listens
– Cayman Islands Court orders Oussama Ammar to pay €7M to The Family
– Delivery Hero and peers are stuck in a $50B rut in the European Union
– Pubinno wins the best beverage tech innovation award with its Internet of Beer in Turkey

🔭 European tech startups to watch
– B2B marketplace innovator nets €325,000 in Germany
– SaaS-based data protection startup Klarytee secures £700,000 Pre-Seed funding in the UK
– RYVER.AI secures €1.3M Pre-Seed to address bias in radiology diagnostics through generative AI in Germany

🎄 There are 17 days remaining until Christmas 🎄

The tech industry continues to make significant strides in funding, acquisitions, mergers, and other exciting developments. Stay informed and keep an eye on these European tech startups for future potential.

Historically, the European tech sector has experienced rapid growth, with several companies going on to achieve global success. The continent has become a hub for innovation and entrepreneurship, attracting investors and startups from around the world. As the year comes to a close, the tech industry is poised for even more growth and development in the coming year. Keep an eye on these trends as we head into 2024.

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