Oura raises over $900M, startups embracing "AI roll-up" strategies, and H1's biggest European gaming deals
European tech funding saw a surge this week, with over €2.2 billion invested across more than 85 deals. Several significant funding rounds and acquisitions highlight the dynamism of the European tech landscape. These developments underscore the continent's growing importance in the global technology sector. Finland's Oura raised over $900 million, resulting in an approximate valuation of $11 billion. Other notable funding rounds include a record-breaking €308 million Series C for German biotech firm Tubulis, and €300 million in growth capital for Dutch energy innovator Return. These investments demonstrate the breadth of innovation across different sectors. Acquisitions and mergers were also prevalent, including KPIT Technologies acquiring the Swiss in-car gaming startup AirConsole. Archer Aviation acquired the remnants of the insolvent Munich-based air taxi startup Lilium, and Cooltra acquired the business operations of urban cycling startup Kleta Mobility. These activities show consolidation and strategic shifts within the industry. Invalda INVL Private Equity Fund II raised €410 million, with plans to invest in high-growth companies across the Baltics, Poland, and the EU. This investment shows continued confidence in the potential of European startups. The recent activity suggests an increasingly robust ecosystem with diverse investment opportunities.
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