formal investigation underway for the aid scheme by the Commission
In the vibrant world of technology, there's always something new and exciting happening. Let's delve into some recent developments that have shaped the European tech landscape.
Startupland is set to take place on November 5th. This highly anticipated event promises to bring together innovators, investors, and tech enthusiasts for a day filled with insights, networking, and inspiration.
In the realm of LegalTech, Berlin-based startup Libra, founded by former Freshfields lawyer Viktor von Essen and Danish software engineer Dr. Bo Tranberg, has announced an impressive 2 million euros in Annual Recurring Revenue (ARR). Libra offers lawyers "tailored, AI-driven applications for research, analysis, and document creation that seamlessly integrate into existing workflows."
However, Europe's tech sector is facing a challenge. There's a lack of capital for large rounds and scalable tech companies, leading to grim consequences. This is a trend that continues to be a topic of discussion among industry experts.
On a positive note, investments are being made. For instance, the American company PEAC Solutions (owned by Blackrock) acquired the Berlin-based FinTech company topi. Moreover, investors such as Creandum, Index Ventures, and Triple Point Capital invested around 50 million euros in topi.
Another significant acquisition was the Deutsche WertpapierService Bank (dwpbank)'s acquisition of the FinTech company Lemon Markets. Lemon Markets raised around 30 million euros from a stellar lineup of investors, including CommerzVentures, Heliad, Creandum, Lakestar, Lightspeed, and System.one.
Meanwhile, Kadmos, a maritime FinTech company, has been acquired by the Japanese shipping conglomerate Nippon Yusen Kabushiki Kaisha (NYK). Kadmos raised around 37 million euros from investors such as Blossom Capital, Addition, and Atlantic Labs.
On the job front, the StartupTicker regularly provides updates on job listings from startups and companies.
In the venture capital sphere, Mathias Ockenfels has left Speedinvest after seven years. However, Speedinvest has welcomed a new partner, Will Wells, who previously founded Hummingbird Technologies, an AI platform for measuring soil health from space.
Lastly, Una, a German health startup, offers a digital therapy for type 2 diabetes. This innovative approach to healthcare is yet another example of how technology is transforming the way we approach health and wellness.
Interestingly, Europe's share of global VC volume has dropped to 13%. This statistic underscores the need for continued investment and support in the European tech sector to ensure its growth and competitiveness on a global scale.
Stay tuned for more updates as the tech landscape continues to evolve!
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