Hello Sifted reader,

There's only one story that this week's episode of the Sifted Podcast could possibly talk about: the dramatic fall of Silicon Valley Bank.

From being joined by a founder who almost lost all of his company's cash in the crash to examining what it could mean for the fragile future of European tech, tune in for all you need to know about the weekend's events — and, possibly, get some closure from the whole ordeal.

Also from the Sifted newsroom:

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— the number of surveyed VCs who expect the EU's upcoming AI Act to reduce or significantly reduce the competitiveness of European startups in AI.

“Startups will go to the US, they’ll develop in the US, and then they’ll come back to Europe as developed companies, unicorns, that’ll be able to afford lawyers and lobbyists,” says Piotr Mieczkowski, managing director of non-profit Digital Poland.

“Our European companies won’t blossom, because no one will have enough money to hire enough lawyers.”

Do you agree? Let us know.

📍Citymapper has been acquired. The London-based public transport mapping app has been acquired by B2B transport startup Via. All of its employees will join the acquirer — except for CEO and founder Azmat Yusuf, who will remain as a transition adviser.

💰 What the UK's spring budget could mean for startups.

🤖 "Basically mindblowing" — a sneak peek of GPT-4. OpenAI’s newest text generation model has dropped, and Icelandic AI startup Miðeind ehf was one of only six projects selected for GPT-4 beta testing.

💭 What startups think of the EU's response to IRA.

🏦 “It’s what your grandma said, ‘Don’t put all your eggs in one basket’.” — Just w h y did so many UK startups bank solely with SVB?

🇫🇷 French climate techs vs local government. A new climate-friendly law in the country is pushing local authorities into the food waste collection business — forcing biowaste startups to compete with the people in charge.

🇪🇸 Is Spain's menstrual leave law a win for workplace equality? The country is the first in Europe to give paid menstrual leave the thumbs up — but many people worry it'll have minimal impact.

🤑 How to manage your treasury. If this week's taught us anything it's that keeping a handle on your business finances is crucial. Jessica Holzbach, cofounder and CEO of treasury management service Pile, shares how founders can manage their money and reduce financial risk.

📈 Got the scaling itch? Any founder worth their salt will have their eyes on scaling — here's how to do it, and what to avoid.

🤔 No idea what a chief technology officer actually does? Four CTOs from across Europe share the deets on what they do, the challenges they're facing and the skills you need to nail the role.

Every Wednesday Sifted's Startup Life newsletter gives founders all they need to run, grow and scale a business. Missing out? Sign up here.

💰 Series A+

MEDWING, a Berlin-based marketplace to find permanent and temporary healthcare staff, has secured a €44m Series C from investors like Northzone, Cherry Ventures and Atlantic Labs.
Seldon, a machine learning operations platform based in London, has raised a $20m Series B led by Bright Pixel, with AlbionVC, Cambridge Innovation Capital and Amadeus Capital Partners also pitching in.
Intelligent fluids, a Leipzig-based deeptech developing planet-friendly cleaning fluids, has raised €10m in Series B funding.
Vienna-based Finmatics, a fintech that automates accounting services, has raised a €6m Series A.

💰 Pre-seed and seed

German IT-as-a-service startup Deeploi has raised a €3m seed round from Cherry Ventures and angels.
Berlin-based The Climate Choice, a platform that helps businesses decarbonise supply chains, has raised a $2m pre-seed round.

💰 Undisclosed

Dublin-based Fire1, which develops remote monitoring devices to improve care for heart failure patients, has raised $25m.
Swedish startup Blinto, a circular economy platform for used machinery, has raised €10.6m.