A growing number of renowned U.S. tech investors are moving to Europe to capitalize on the continent’s start-ups.
It comes after several European tech companies saw their valuations sky-rocket during the coronavirus pandemic. Online events platform Hopin saw its valuation soar to $7.75 billion within two years of its incorporation, while buy-now-pay-later firm Klarna was most recently valued at $46 billion.
Investors believe that precision maps made with far-flung sensors can turn profits, as climate threats call for novel ways to monitor a changing planet.
- Ocean data startup Saildrone has raised a $100 million Series C led by Bond Capital, with XN, Standard Investments, Emerson Collective and Crowley Maritime also participating.
- The California startup made waves recently when one of its solar- and wind-powered drones captured video from inside Hurricane Sam and survived the voyage. The company’s data is used for defense applications, climate and weather forecasting, and monitoring of fisheries and wind farms.
German food delivery firm Delivery Hero has invested $235 million in Gorillas, an online grocery start-up, as part of a $1 billion funding round.
Gorillas was founded in May 2020 but has grown at a rapid clip as demand for its service, which ships groceries to people’s doors in as little as 10 minutes, took off during the coronavirus pandemic.
It’s one of several European start-ups competing in an increasingly crowded space. Rivals include Turkish company Getir, British firm Zapp and German peer Flink.
Swedish fintech firm Klarna said Thursday that it raised $639 million in a new funding round led by SoftBank, valuing the company at $45.6 billion. Klarna is one of the largest providers of “buy-now-pay-later” services, which let people finance their shopping purchases interest-free over a period of monthly instalments. These services have become particularly popular since the coronavirus pandemic began.