The European tech startup arena is one of the happening markets all over the world. Even during the COVID-19 lockdown, there have been numerous funding rounds across industries showing the sizzling growth. Likewise, this week too, the European tech startup market has been witnessing numerous developments including attractive funding rounds.
European tech startups roundup
Here is a roundup of all the happenings in the tech startup arena in Europe this week.
New plastics that leaves no trace
London-based Polymateria, which is advancing science to help nature tackle with plastic pollution has pocketed £15 million (nearly €16.5 million) funding from Planet First Partners (PFP). The company will use this investment to accelerate the rollout of its new technology called Biotransformation in many countries across the world alongside partnerships with foreign governments.
Founded in 2018 by Jonathan Sieff and Lee Davy-Martin, Polymateria has won two research grants from Innovate UK, which is a part of UK Research and Innovation and is funded by the government for the development of its Biotransformation technology for PET (Polyethylene Terephthalate) and the first ‘petro-plastic’, which adheres to the international standards.This tech biodegrades common forms of plastic completely leaving absolutely no microplastics, thereby resulting in no harm to the environment.
Robinhood not coming to UK
Some sad news for Robinhood traders! Recently, the US-based stock trading service Robinhood has been facing a rough patch due to controversies as one of its customers killed himself. On account of this incident, the company has announced that it will delay its UK launch as it is fighting the pressure imposed by US politicians.
Until last week, the stock trading app had a waiting list of over 250,000 eager users in the UK as its launch over there was planned for this year. However, as 20-year-old Alex Kearns killed himself mistaking to have lost $730,000 (nearly €630,000) by using the app, Robinhood founded by Baiju Bhatt and Vlad Tenev in 2013 had to hold its expansion plans. In an email statement sent to people in its waiting list, the service notes that their global expansion plans are on hold as of now and that they will look forward to bring their service to the UK.
Montreal-based investment app enters European
The Canadian personal finance app Mylo has been rebranded as Moka and has entered the French fintech market as a part of its expansion into Europe. Notably, France is the first market outside of Montreal to get this app. It has been rebranded as Moka in order to address a new growing global community. The fintech startup will let millennials to save more, spend less, and invest smarter.
Founded in 2017 in Montreal by Philip Barrer, this fintech app has since been downloaded over 750,000 users in Canada and earned thousands of 5-star reviews. The Moka app is known for its roundup feature, which automatically rounds up daily purchases and invests the spare change in personalised, diversified portfolios of low-cost Exchange-Traded Funds (ETFs).
Digitalising real estate
Prosperty, a Greek real estate startup is a pioneering online platform operating with the promise to change the way people buy and sell property. Earlier this week, Prosperty has bagged €2.1 million seed funding from Velocity.Partners and Metavallon along with participation from angel investors. With this investment, this company intends to launch the platform, where a huge number of properties will be available gradually for rent or sale.
CO-founded by Antonis Markopoulos, Nikos Patsiogiannis and Antonis Despotakis, Prosperty provides completely innovative digital solutions along with process automation. It ensures to provide transparency and professionalism without comprising on competitive pricing. Its platform offers full promotional services that will make properties listed in both Greece and abroad visible to private buyers as well as investors.
€443 million for Europe’s most promising tech companies
One Peak Partners, a leading tech VC investor targeted at European growth-stage companies has announced the closing of its second fund. The One Peak Capital II was closed at €443 million and will take the firm’s assets under the management to nearly €700 million. This fundraise was launched in Q1 2020 and closed in Q2 2020.
Founded by Humbert de Liedekerke and David Klein in 2014, One Peak focuses significantly on minority investments in proven and rapidly growing European tech companies with global aspirations. The VC firm partners with some of the best entrepreneurs in Europe and scale their businesses by providing the necessary growth capital. It intends to transform innovative businesses into lasting and category-defining leaders.
Pride-themed EV chargers
In Amsterdam, it is a common sight to see colourfully dressed public chargers used to charge EVs during Pride festivities. On Thursday, many residents of the city woke up to the same rainbow makeover from a volunteer team from EVBox, charging station manufacturer, Everon, charging software provider and Vattenfall, utility provider.
The Dutch Pride week will be hosted between July 25 and August 2. And, during the same, the revenue that is generated from over 100 specially-covered stations throughout the city will be donated to COC, the Dutch LGBTQ+ association. The cheque will the overall amount will be handed over to Astrid Oosenbrug, the COC-chair next month.
Main image picture credits: Robinhood
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