When is raising $ 14 billion not enough? When you’re a battery startup. Northvolt, Europe’s attempt at building a competitor to Asia’s battery manufacturing powerhouses, announced on Monday that it had halted work on a factory expansion and laid off 1,600 employees, or about 20% of the workforce. The company was planning to expand its […]
Euro VCs welcome Balderton’s fresh $1.3B but grumble about Europe’s AI misses
Balderton Capital — one of the older, larger, European VCs noted for investing in Revolt and Wayve — has raised a fresh $ 1.3 billion in total, spread across two funds. Its Early Stage Fund IX will get $ 615 million, and its Growth Fund II will get $ 685 million. The news was greeted with cautious […]
Europe’s most valuable fintech, and which startups became unicorns this year
Welcome to TechCrunch Fintech! This week, we’re looking at Revolut’s reported valuation hike, fintech unicorns, the Disrupt Fintech Stage, and more. To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Tuesday at 8 a.m. PT, subscribe here. The big story Revolut reportedly told staff last week of […]
DSA vs. DMA: How Europe’s twin digital regulations are hitting Big Tech
It’s no accident that the European Union’s Digital Services Act and Digital Markets Act have such similar-sounding names: They were conceived together and, at the end of 2020, proposed in unison as a twin package of digital policy reforms. EU lawmakers had overwhelmingly approved them by mid-2022, and both regimes were fully up and running […]
Energy tech startup Greenely grabs €8M to reach more households and support Europe’s energy transition
The energy transition is a marathon, not a sprint. But opportunities for acceleration are growing. Swedish startup Greenely* has just spotted one. It’s closing an €8 million Series A funding round to expand its energy management platform into neighbouring Nordic countries (so around $ 8.7M at current exchange rates). The energy tech startup is serving […]