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Hi Sifted reader,

Should people making millions from crypto investments pay tax? Portugal's finance ministry thinks so — and might soon put an end to its crypto tax haven status. The crypto millionaires don't think it's a good idea, funnily enough — but others say regulation is the only way. 

All that today, plus:

• The startup offering legal services as a work benefit
• The grocery delivery courier wage war 
• Do VC impact metrics actually work?

Psssst... today is also the last day to bag yourself a hefty discount to the Sifted Summit on 5-6 October with a super early-bird ticket. Book now to save 36% on tickets for two jam-packed days of panels, workshops and networking. Sound good? Step this way to secure your spot.

— Kai, reporter & Amy, editor

Portugal's crypto tax haven status has been a major lure to investors looking to have their cake and eat it, and the country's crypto scene has boomed as a result. But the good times could soon be over, as the government considers new regulation for digital assets. 

So what could the move mean for startups in Portugal and what will the crypto millionaires do if they have to pay tax like everyone else?

Sifted finds out.

The EIT Digital Challenge is looking for fast-growing European deeptech scaleups. 20 companies will be selected to pitch in front of a jury of experts and investors and the winners will receive waived entry into the 12-month accelerator program worth €50k.

Apply here before September 19.

From visa issues to employment contracts, most people need the help of lawyers at some point in their lives. That's where France's Ekie comes in.

It provides access to legal services for a variety of issues — from tenancy issues to family law — to  e offered as a perk by employers to staff. It's just raised €2m as it looks launch in a number of countries across Europe.

Do you want legal services as a benefit?

Gig economy riders have long been in the dark about how companies like Uber Eats and Deliveroo calculate their food delivery fees — meaning they have no way to know if they think they're being unfairly compensated. Until now.

A new app from London-based startup Rodeo aims to help gig economy workers get better informed about pay, by aggregating data for riders across all their delivery apps. 

But not everyone's so sure that knowledge is power.

Some VCs are trying a new idea to prove that they really care about ESG criteria: they're tying their financial rewards — their carry — to the impact that their portfolio companies and fund have.

But is it working?

The team at Bethnal Green Ventures explain why impact carry might not be a silver bullet.

Our latest report explores the Greek startup landscape to understand how the country is carving out a name for itself. From educational advancement to middle managers, we explore the gaps and glories of this Mediterranean hub.

What does the future hold?

💰 Concept Ventures raises UK’s largest pre-seed fund of £50m. It will invest between £100k-600k in over 60 pre-seed stage startups, and is a welcome addition to the UK's VC scene following a drying up of pre-seed funding in recent years. It's also got an impressively diverse set of LPs: 80% are from ethnic minority backgrounds and 18% are women. So what kind of startups is Concept looking to back?

💻 iPronics raises €3.7m to bring rapid photonic chips to the masses. Silicon microchips are becoming old fashioned as computing demands rise and manufacturers strive for ever-smaller chips. Cue iPronics, a Spanish startup looking to make photonics — more capable light-based processors — cheaper and more accessible. Here's how it plans to take the tech mainstream.

🇪🇸 Investment into Spanish startups at record levels in 2022. Despite global economic uncertainty, Spain's startup sector is healthier than ever and VC deals in the country surpassed all records in the first half of 2022. But Spain's still heavily reliant on money from afar; 80% of the cash came from international funds.

💸 Investing platform Bunch raises €7.3m. It's another new platform helping angels and founders get in on more startup deals, with less admin hassle. Cherry Ventures featured in the seed round, and the Berlin-based fintech has European expansion in its sights. 

Want to come a work with us at Sifted? Check out the roles we're hiring for...

🤝 Looking for a career in journalism? We're on the hunt for an editorial assistant to get involved in everything from newsletter and podcast production to writing articles and creating infographics. You don't need any formal qualifications, we're just looking for people who are curious and eager to learn. We're especially keen to hear from anyone from an underrepresented background.

😎 Are you a seasoned marketer with experience supercharging company growth? We're after a senior event marketing manager to help own and grow our ambitious events programme. You'll need to have worked on both virtual and in-person events before and have an exceptional eye for detail. If that sounds a bit like you, take a look. 

👉 We're also on the lookout for a business development executive to spot new business opportunities, qualify leads and develop early-stage accounts. Got a year or two experience in a sales or customer success and have an interest in tech startups and the media? This one could be for you.

🚜 Decarbonising vertical farming. The technique has one unsustainable dependency — the CO₂ used to help plants grow. It's a problem Skytree is looking to solve with its direct-air-capture units — which recycle CO₂ from the atmosphere. Freya Pratty finds out how it works and what else it can be used for.

🦄 These soonicorns are built for tough times. While gloomy forecasts might be echoing around the European startup scene, a number of unicorn potential tech companies don't seem to mind. Sifted looked into why these high-value, high-momentum startups are still thriving. (Sponsored by Sapphire Ventures.)

Kai Nicol-Schwarz

Reporter

Get in touch with him at kai@sifted.eu 
Or @NicolSchwarzK

Amy Lewin

Editor 

Get in touch with her at amy@sifted.eu
Or tweeting at @amyrlewin

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