Here’s an overview of the 10 biggest European tech news items for this week:
1) Hailo and Daimler-owned MyTaxi agreed to merge in all-share deal to fend off Uber and other competitors in the crowded on-demand transportation space. Both companies will continue operating under the MyTaxi brand. Hailo had raised more than €90 million in funding from the likes of Accel, Union Square Ventures, Atomico, Wellington Partners and Sir Richard Branson.
2) Another major exit could be in the works: according to Bloomberg, SoundCloud’s owners are considering a sale that could value the German music streaming company at $1 billion.
3) Belgian food delivery startup Take Eat Easy has stopped operations and also filed for juridical restructuring, after being unable to secure more funding. The company had previously raised more than €16 million from investors such as DN Capital, Eight Roads Ventures, Piton Capital and Rocket Internet.
4) Rocket Internet and FinTech Group have an agreement in place to develop digital banking services and companies together. Rocket Internet’s two previous forays into FinTech (Payleven and Paymill) did not end very well.
5) Another German FinTech startup, N26 (formerly Number 26), launched a third-party investment product on its platform. N26 announced in mid July a new $40 million capital injection.
6) France-based 360 Capital Partners reached an agreement with Orkos Capital to manage Robolution Capital, a €80 million fund dedicated to robotics, artificial intelligence and ‘Internet of Things.
7) Ireland to slash capital gains tax for startups to 10% with €10 million cap, bringing Ireland in line with the tax environment for startups in the UK.
8) Broadband internet access will become a legal right under new EU telecoms rules. The move would make affordable broadband internet a right for consumers across Europe.
9) Amazon has partnered with the British government to significantly expand drone testing in the UK, with the objective of delivering goods to people’s homes.
10) The numbers are in: in Q2 2016 there were 75 European and Israeli venture-backed exits, combining for €2.4 billion.
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