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Hi Sifted Reader,

As COP26 is kicks off, we take a look at the fashion industry — one of the world’s biggest polluters. Clothing and footwear production produces more emissions than all international flights and maritime shipping combined — but there are startups that could help... That's on the agenda today, plus:

How France churns out so many social networking startups
The European fintechs heading to India
Why Europe doesn't need any more VC scout programmes

\Social Media

Move over, Facebook: How France became a hotbed for social networks

The conventional wisdom says Europe long ago lost the social networking battle to US tech giants. But it seems a fistful of French entrepreneurs didn’t get the message.

France has become a hotbed of social networking apps, like Zenly, Yubo, Powder, Mindie and Yolo.

Chris O'Brien asks: w hy is France so good at it ?

\In partnership with Zendesk

Have you seen our new podcast?

Starting mid-November, we’ll be publishing the first episodes of The Sifted Podcast.

Sifted’s editor Michael Stothard will be speaking to the founders pioneering delivery drones, psychedelics and neobanks for the mega rich, and the journalists who broke the stories. You’ll also hear from London’s newest (and smallest) investor — five-year-old Eliza — who will put founders through their paces and decide if she wants to trade her marshmallows for equity.

The Sifted Podcast wouldn’t be possible without the support of our sponsor, Zendesk for Startups, who are offering eligible startups six months of free customer support software. Learn more here.

Subscribe to the Sifted Podcast here.

\For Members Consumer

Meet the European startups making fashion sustainable

The fashion industry is one of the world’s biggest polluters — and it's under pressure to change. A small but growing number of startups are offering fashion companies a way to decrease their landfill waste by recycling the fibres from discarded clothing.

Here are the companies that can help.

If you're not yet a Sifted member, subscribe here for as little as £19 per month.

\Fintech

Stripe acquisition leads European fintech's gold rush into India

Stripe announced its first acquisition of an Indian fintech last week, buying payments tracking and automation startup Recko.

Revolut and Tide have also recruited Indian chief executives in preparation for 2022 launches in the country.

So why is it happening now?

\Venture Capital

VCs relying on scouts means founders get the short end of the stick

Europe’s tech ecosystem needs more investors and more diverse sources of capital at the earliest stages. What it doesn’t need more of? VC scout programmes.

They're being relied on more and more in Europe. Scout programmes are great for VCs, says Anh-Tho Chuong Degroote, but they're not great for founders.

Here's why.

\Sponsored by The Big Score

So you want CVC investment — now what?

European CVC funding hit $10bn this year and shows no signs of slowing down. There was Visa's backing of Klarna and Salesforce's backing of Hopin.

But as CVC investment gets bigger, so do the options. Startups need to decide which type of CVC fits them best, and how to use it most effectively.

Here's how to do it.

News that Matters

🖥️ Yokoy, an AI-powered spend management platform, has raised $26m in a Series A round led by Left Lane. Spend management software is a growing industry, projected to be worth $4bn by 2027.

🏦 Multiple Capital, the Frankfurt-based fund of funds that invests in seed and micro VC funds, has closed its second fund at €20m.

💡 The UK energy crisis. Fears are growing that energy startup Bulb could collapse this week, Sky News reports.

💸 Stockholm-based Moralis, a blockchain development platform, has raised €11.5m in seed funding led by EQT Ventures. It can help build things like cryptocurrencies, NFT marketplaces and crypto games.

💰 Attest, a London-based market research platform, has raised $60m in new funding. It uses a no-code approach to research surveys.

💬 Estonian edtech Lingvist has raised €5.1m to scale its language leaning application. It comes as European edtech is speeding up — a French edtech raised one of the industry's biggest rounds last week at $200m.

Events

How are founders splashing their cash? | Online | November 3
Join our Sifted Talks on Wednesday to look inside founders’ bank accounts and find out how they’re spending their money and investing in their startups’ growth.

Boomers had fund managers, millennials have robo-advisers | Online | November 10
While wealth management was once elitist, a new batch of wealthtech startups is changing the game. Join Sifted Talks on November 10 to find out about the wealthtechs fighting over a young, affluent audience.

Sifted Opinion

Need a model for empathetic management? Look to Ted Lasso

Dear startups: before you worry about AI, do data right

Why it’s wrong to think VCs get better returns than corporates

Investment theses aren’t just for VCs. Angels need them too

Amy Lewin
Deputy Editor

Get in touch with her at amy@sifted.eu
She loves a bit of reader feedback.

Freya Pratty
News Reporter

Send her your news at freya@sifted.eu
Or find her (occasionally) tweeting @FPratty

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Move over Facebook, France runs social apps 🇫🇷

\Social Media

Move over, Facebook: How France became a hotbed for social networks

\In partnership with Zendesk

Have you seen our new podcast?

\For Members Consumer

Meet the European startups making fashion sustainable

\Fintech

Stripe acquisition leads European fintech's gold rush into India

\Venture Capital

VCs relying on scouts means founders get the short end of the stick

\Sponsored by The Big Score

So you want CVC investment — now what?

News that Matters

Events

Sifted Opinion

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The Sifted Podcast is on its way 🎉

How to lead a team like Ted Lasso ⚽

Negotiating stock options 101 🤝

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