Happy Friday! Here’s an overview of the 10 biggest European tech news items for this week:
1) Spotify has acquired US blockchain startup Mediachain Labs, though no terms were disclosed. Mediachain Labs, headquartered in Brooklyn, has created a solution called the Mediachain protocol, via the blockchain, that links a creator’s content online with information about the creator.
2) Uber is offering more security for UK drivers who rely on its app to make a living, with an insurance plan that gives cover if they’re sick or injured. Drivers who have completed at least 500 Uber journeys to date can pay £2 a week, or £104 a year, for the benefits package, which covers them if they’re sick, injured or on jury duty.
3) Germany’s Delivery Hero, the food delivery marketplace, has announced its latest revenue figures which show a 71% increase in revenue in 2016, with the company tipped for an IPO.
4) Rocket Internet increased sales and shrank losses at some of its biggest startups, bringing the company closer to a target of having three of its main investments break even by the end of this year.
5) French spend and procurement management software company Ivalua has raised $70 million from private equity firm KKR.
6) LoveCrafts, a social platform for crafts, has raised £26 million in a round led by Scottish Equity Partners (SEP) with participation from previous investors Balderton and Highland Europe.
7) UK medtech startup Babylon Health has raised $60 million for its AI-based medical advice app. The investment comes from NNS holdings, Vostok New Ventures, and existing investor Kinnevik.
8) UK EdTech startup Gojimo has been acquired by the Telegraph Media Group for an undisclosed sum. The startup, founded by George Burgess at the age of 17, had raised $3 million in funding to date.
9) UiPath, a Romanian-founded automation software firm, has announced a $30 million Series A round led by Accel. Earlybird Venture Capital, Credo Ventures, and Seedcamp also participated in the round.
10) Fintech startup Token has announced a Series A round of $15.7 million for its banking platform that helps financial services stay in line with EU regulations. The funding round comes from Stockholm’s EQT Ventures, London’s Octopus Ventures, and Helsinki’s OP Financial Group.
Bonus link: Tech.eu has released its combined European Tech Funding and Exits Report for Q1 2017
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