Tech investments in Europe increase by 18% in July, Energy Vault secures €258 million, and Ukraine proposes a national LLM program.
European Tech News: July 2021
In the bustling landscape of European tech, July 2021 saw a flurry of activity as numerous startups and established companies made significant strides. This month witnessed over 40 tech funding deals worth €848 million, reflecting the vibrant growth of the sector across the continent.
Funding Rounds
One of the most notable developments was the substantial increase in funding rounds. Companies such as Lovable and Xelix have secured significant investments in recent years. For instance, Lovable raised €172.8 million in a Series A round for its AI-powered platform, while Xelix secured €138.3 million in a Series B round.
Industry Focus
Telecom and fintech continued to dominate the European tech investments, with telecom often leading in terms of funding amounts. A notable deal in July 2021 was CityFibre's €2.6 billion round in the UK telecom space.
Notable Acquisitions
The European tech scene also witnessed a variety of acquisitions and mergers. One significant transaction was UAV Destinus' acquisition of Daedalean in a $225M deal, aimed at boosting AI capabilities.
Healthtech and AI
Beyond the AI buzz, there was a critical view on healthtech hype expressed by Nina Capital. Meanwhile, a founder's battle with eczema led to a data-driven healthtech startup, demonstrating the potential for personal experiences to drive innovation in the sector.
Innovation Across Europe
Greece is experiencing a resurgence in tech and innovation, with startups leveraging AI to improve agriculture and food security. Ukraine launched AI Factory and a national LLM to secure digital sovereignty, demonstrating a commitment to technological advancement.
Expansion and Partnerships
Berlin-based lemon.markets joined forces with dwpbank to expand digital brokerage services, while Sendr is eyeing growth after a £250,000 investment. EWOR named Simon Dussart as COO to scale its €60M founder fellowship, indicating a focus on growth and development within the startup ecosystem.
Looking Ahead
As we move forward, it will be interesting to see how these trends continue to shape the European tech landscape. Platforms like Tech.eu, Vestbee, or Crunchbase could provide valuable insights into the specifics of July 2021 data, offering a comprehensive view of the month's developments.
- The healthtech sector also saw significant activity in July 2021, with Nina Capital expressing a critical view on healthtech hype while a data-driven healthtech startup emerged from a founder's personal battle with eczema.
- The fintech industry also thrived in this dynamic month, as CityFibre secured a €2.6 billion round in the UK telecom space, highlighting the continued dominance of telecom and fintech in European tech investments.
- Beyond fintech and telecom, the landscape of technology innovation expanded across Europe, with Greece leveraging AI to improve agriculture and food security, and Ukraine launching AI Factory and a national LLM to secure digital sovereignty.
