Sifted - Europe’s biggest tech takeovers

Good morning there,

When news broke last Friday that Microsoft is closing down Skype, it marked the end of an era. The startup was acquired in 2011 for $8.5bn, a huge amount for a European tech company at the time. 

Skype wasn’t just a new way for communicating online, but Microsoft’s acquisition of the startup also sparked the creation of two European unicorn factories in Sweden and Estonia and led to the establishment of one of Europe’s most esteemed VCs, Atomico. To mark Skype's passing, we broke down the biggest tech takeovers Europe has ever seen — and what happened to the founders next.

Elsewhere today:

• EU unveils €800bn plan to boost defence: ‘We are in an era of rearmament’
• How to accelerate AI adoption in defence tech
• Brunch with Eileen Burbidge: 'What's happening in America is crazy'

P.S. Registration for Sifted Summit 2025 is officially live! With super early bird rates come and join us on October 8-9 at Magazine London, 3,000+ founders, operators and investors will come together to shape the future of European tech. Register now with super early bird rates!

/A message from our sponsor Vanta

Master vendor risk management with a free eBook

Startups, managing vendor risk is crucial to protecting your business. Vanta’s Vendor Management eBook offers practical insights and strategies to help you assess and manage third-party risks effectively. Download the eBook today and build a secure foundation for your growing business.

🇪🇺 EU leaders unveiled an €800bn plan to rearm the continent after Donald Trump suspended military aid to Ukraine, prompting mixed reactions from the sector’s investors. 

💰 AI analytics startup Quantexa has raised $175m as it looks to deepen its presence in the US and hunts for startups to acquire.

❗Europe’s biggest tech takeover deals — and what the founders did next. Microsoft’s plan to shutter Skype is an excuse to check in on Europe’s other lucrative corporate deals of the past and discover where the founders are now. 

🍳 “What’s happening in America is crazy […] not only does it feel like we’re going backwards, it feels like we’re being deliberately hurtful." Eileen Burbidge sits down with Tom Matsuda for brunch to chat the rollback of DEI initiatives in the US, going to the same uni as Marc Andreessen and how she's considering launching her own fund as a solo GP.

💔 Founders, have you ever missed a wedding anniversary because of a client? Or taken an investor call during date night? Then you might be guilty of cheating on your partner with your company — here’s how to stop.

🪖 How to accelerate AI adoption in defence tech.

Sifted Talks | Online. On March 12, Fintech reporter Tom Matsuda is bringing together panellists from Flo Health, Cherry Ventures and Navan to discuss the new CFO mindset —how to balance profit with growth. RSVP here.

Free to apply: Sifted’s DACH & CEE Leaderboard

We're looking for startups in the DACH & CEE region that are on a high-growth trajectory to feature on our next leaderboard. Could your startup be one of the fastest-growing companies in the country? Don't miss out on this opportunity to showcase your success!

Paris-based Combo, which has built a HR suite for small and medium-sized businesses with deskless teams, has acquired payroll engine Arhia for an undisclosed amount. 

Paris-based Flowdesk, market makers in the digital asset industry, raised $52m in an extension funding, bringing their Series B round to $102m. HV Capital and BlackRock led the round and were joined by investors including Eurazeo, Cathay Innovation and ISAI.

London-based Lenkie, which provides transaction-based cashflow management and financing solutions for SMEs, raised £49m in Series A funding.

Delft, Netherlands-based Quantware, which develops technology for quantum processors, raised €20m in Series A funding. Invest-NL Deep Tech Fund and Innovation Quarter led the round and was joined by investors including EIC Fund, Forward.one, Graduate Entrepreneur Fund, QDNL Participations and Job van der Voort.

Vilnius-based Mytu, an AI-powered and cloud-first digital bank, raised €10m in Series A funding.

Amsterdam-based Moonwatt, an energy storage startup, raised €8m in funding. daphni and LEA Partners led the round and were joined by investors including Founders Future, AFI Ventures and Kima Ventures.

London-based Passentry, a digital pass issuance startup, raised £5.2m in funding. Acurio Ventures and Bonsai Partners led the round.

Falkirk, UK-based uFraction8, which optimises biomanufacturing processes, raised £3.4m in funding. Foresight Group led the round and was joined by investors including Old College Capital, Scottish Enterprise, Alwyn Capital and Thia Ventures. 

Malmo, Sweden-based Bookboost, a hospitality CRM platform targeting guest communication and engagement for hotels, raised €3.6m in funding. Vendep Capital led the round.

Tallinn-based Cino, which develops a product for bill-splitting at the moment of payment, raised €3.5m in seed funding. Balderton Capital led the round and was joined by investors including Connect Ventures, Tera Ventures and Barney Hussey-Yeo.

Munich, Germany-based Radical Dot, which focuses on chemical recycling technology to transform plastic waste into valuable chemicals to support a circular economy, raised €2.7m in pre-seed funding. UVC Partners and Visionaries Tomorrow and were joined by investors including Jeremy Oppenheimer, Thomas Tuchscherer,  Lord Adair Turner, Pjotr van Schothorst and Philippe Tardy.

If you’d like to submit a deal, get in touch. 

For more deals, analysis and M&A insight, become a Pro subscriber to receive our weekly Deals newsletter.