Money Buzz! Europa

Category: Investment

  • Volvo Group Venture Capital invests in Adnavem

    Volvo Group Venture Capital invests in Adnavem

    Volvo Group Venture Capital invests in Adnavem, an online marketplace for freight services that offers unbundled door-to-door transport.

    Using Adnavem transport buyers can choose the service providers for each part of the logistics chain themselves.

    ”We are set to change the multimodal transport industry. We can help transport buyers to find the best transport chains and strike a good balance between price, speed and environmental impact,” says Andreas Wramsmyr, founder and CEO of Adnavem.

    Adnavem was founded in 2017 and is based in Gothenburg, Sweden.

  • Cassa software attracts KPMG as a lead investor on SeedBlink

    Cassa software attracts KPMG as a lead investor on SeedBlink

    Cassa, an accounting software that contains elements of artificial intelligence and machine learning, attracted KPMG Romania as a lead investor in the financing round that is targeted on SeedBlink.

    The amount aimed at SeedBlink is 100,000 euros.

    Cassa has been listed on SeedBlink since October – those interested in investing in the company have this opportunity until November 26th, 2020.

    The data about the transaction value and the share package taken over by KPMG are confidential.

    The transaction came after the selection of the Cassa solution in KPMG Startup Grow Pad, an acceleration program that addresses startups with process automation activities, robotic assistance, augmented analytics, cybersecurity, intelligent and analytical applications (data).

    The selected startups are from industries in which KPMG also has expertise: IT, telecom, financial services, real estate, professional B2B services, consumer-trade markets, legal, compliance, and regulatory services.

    What is Cassa

    Cassa is a Software as a Service application that orders the flow of documents smartly and simplifies communication between accountants and entrepreneurs.

    The app was launched in June this year by Cornel Fugaru (34 years old) and Daniel Teodoroiu (32 years old).

    Digitization and thus eliminating accountants’ manual work are based on a technology of optical character recognition (OCR) that allows the transformation of scanned documents, photographs, and PDFs into editable documents.

    The platform targets accountants, which have the opportunity to become resellers for their accounting clients.

    By the end of this year, the company’s management aims to reach 2,000 customers, and by the end of 2021 to have 15,000 users.

  • Togetherall secures $10 million investment from FPE Capital

    Togetherall secures $10 million investment from FPE Capital

    Togetherall, has secured $10 million investment from software and services growth investor, FPE Capital LLP (FPE).  

    The investment follows Togetherall’s expansion into the North American market, with a focus on US market growth, as well as continued growth across the UK and Canada into higher education, corporate and health sectors.

    FPE will sit as the largest investor alongside social impact investor, Impact Ventures UK (IVUK), concluding the eighth investment from FPE Fund II.

    Togetherall provides a population based, clinically managed online community to support people with their mental health via 24/7 anonymous peer-to-peer support.

    Launched in 2007 it has helped over a quarter of a million members to date and nearly 90,000 individuals in the last 12 months.

  • DESFA acquired 20% of Gastrade SA share capital

    DESFA acquired 20% of Gastrade SA share capital

    The Greek company Gastrade SA announced the signing of the agreement for the acquisition of 20% of its share capital by DESFA S.A., owner and operator of the National Natural Gas Transmission System of Greece.

    Gastrade is developing the LNG floating storage and regasification unit (FSRU) offshore Alexandroupolis in Greece, which will be a new, independent energy gateway for the markets of Southeastern and Central Europe.

    The FSRU will be located 17.6 km southwest of the port of Alexandroupolis and will have an LNG storage capacity of 170,000 cubic meters and a natural gas supply capacity that will exceed 5.5 billion cubic meters per year.

    The floating unit will be connected to the National Natural Gas System of Greece via a 28 km long pipeline, through which the regasified LNG will be transmitted to the markets of Greece, Bulgaria and the wider region, from Romania, Serbia and North Macedonia to Hungary, Moldova and Ukraine.

    DESFA’s presence in the project will provide Gastrade with additional expertise in operating the new Terminal and will have a key role in the penetration of LNG in the region as well as the enhancement of energy liquidity and the optimization of gas supply in Greece and the SE European region, offering to these markets increased energy diversification and flexibility.

    DESFA’s shareholders are SENFLUGA S.A. (Snam S.p.A., Enagás S.A., Fluxys and DAMCO S.A.) with 66% and the Greek State with 34%.

  • Global IPO activity rebounds sharply hitting historic highs in Q3 2020

    Global IPO activity rebounds sharply hitting historic highs in Q3 2020

    Q3 2020 bucked the traditionally slow IPO period as the markets were awash with liquidity resulting in the most active third quarter in the last 20 years by proceeds, and the second highest third quarter by deal numbers.

    Globally, YTD IPO activity accelerated, resulting in a 14% increase in the total number of IPOs to 872, and an impressive 43% rise in proceeds of US$165.3b.

    As for sectors, technology, industrials and health care once again topped the ranks. Technology saw 210 IPOs raise US$53.9b, industrials saw 168 IPOs raise US$23.3b and health care saw 159 IPOs raise US$33.3b.

    IPO activity in the Americas saw 188 deals raise US$62.4b in proceeds, increasing 18% and 33%, respectively YTD, while Asia-Pacific saw 554 IPOs raise US$85.3b in proceeds, rising by 29% and 88%, respectively YTD. Both markets have already exceeded YTD 2019 levels.

    While the EMEIA region rose quarter on quarter, IPO volumes are still down YTD by 27% (130) and proceeds by 24% (US$17.6b), respectively. Cross-border IPO activity levels have held steady by deal numbers and proceeds, accounting for 8% and 10% of global IPO activity, respectively.

    Americas IPO activity picked up the pace in Q3 2020

    IPO activity in the Americas gained momentum overall, seeing an 18% increase in IPOs (188) and 33% increase in proceeds (US$62.4b) YTD, exceeding 2019 YTD levels. While the health care sector dominates YTD in number of IPOs (71), the technology sector leads in proceeds, raising US$22.3b through the quarter.

    The Americas have proven to be the birthplace of unicorn (privately held startup companies with a value of over US$1b) IPOs, launching 12 of 2020’s 18 IPOs in Q3 alone.

    US exchanges accounted for the majority of IPOs with 82% of deals and 87% of proceeds in Q3 2020. In addition, the importance of Special Purpose Acquisition Company (SPAC) IPOs on US exchanges also rose in 2020. In other parts of the Americas, the Brazil IPO market picked up as low interest rates led investors to the stock market, with 13 IPOs through Q3 2020, compared to no IPOs during Q3 2019, putting 2020 on track to be the most active year in Brazil since 2007.

    Asia-Pacific IPO landscape grows stronger, window of opportunity remains open

    YTD 2020 Asia-Pacific IPO activity has surpassed YTD 2019 activity by both volume (29%) and proceeds (88%). Activity in the region accelerated in part due to COVID-19 pandemic- related government stimulus policies, for example, employment subsidies provided to airlines in the region.

    In Greater China, Q3 2020 IPO activities are on track to hit historic highs with deal numbers and proceeds up 152% and 139%, respectively year-on-year. As US-China trade tensions heighten leading up to the US presidential election, some Chinese companies listed on US exchanges chose to conduct a secondary listing on the Greater China exchanges, tapping into the Chinese equities market. 

    The market in Japan has also intensified compared to Q3 2019 with a 67% increase in numbers and 40% rise in proceeds.

    EMEIA IPO market gains momentum to get back on track

    Following a slower H1 2020, EMEIA IPO markets gained significant momentum in Q3 2020 with deal numbers increasing 34% and proceeds rising 49% compared with Q3 2019, due in part to several large IPOs in the region. The region’s big winners are those riding on the tech digitalization wave – in particular technology, industrial and health care sectors.

    In Europe, markets are beginning to rally, with Q3 2020 IPO numbers up 48% and proceeds increasing 51% as compared with Q3 2019.

    At the same time, the UK IPO activity increased for the region as a whole with a mega IPO (deals with proceeds greater than US$1b) demonstrating the available liquidity of the market and showcasing international investor interest for the right deal.

    These and other findings were published today in the EY quarterly report, EY Global IPO Trends: Q3 2020.

  • Streetbees closed a $40 million Series B round

    Streetbees closed a $40 million Series B round

    Streetbees closed a $40 million Series B round to accelerate the development of the world’s first human intelligence platform.

    This round was led by Lakestar with participation from LocalGlobe, Atomico, GMG Ventures and Octopus.

    Streetbees has its own community of 3.5 million consumers.

    80% of human decisions are made offline, and just as Google indexed the online world, Streetbees makes the offline world visible and searchable by indexing its proprietary dataset of millions of offline moments.

    Advances in data science and the proliferation of smart devices allowing consumers to share their brand experience in real time has seen 8 of the world’s 10 largest consumer goods companies – including PepsiCo, Unilever and Procter and Gamble – rely on Streetbees to provide intelligence.

  • Macquarie Infrastructure to acquire CEZ Group assets in Romania

    Macquarie Infrastructure to acquire CEZ Group assets in Romania

    Macquarie Infrastructure and Real Assets today announced that has reached an agreement to acquire a portfolio of Romanian power assets owned by CEZ Group.

    The integrated energy infrastructure portfolio is comprised of an 86.665 kilometre regulated electricity distribution network and an electricity and gas supply business with 1.4 million residential and industrial connections in the South West of Romania.

    The acquired assets also include a renewable energy platform, with 622 MW of primarily onshore wind farms and plans to develop its portfolio further.

    The terms of the transaction have not been disclosed. Completion of the transaction is subject to receipt of customary regulatory approvals.

    MIRA is trusted to manage the operation and development of electricity distribution networks in Australia, Austria, Finland, Spain, and the United States.

  • PayPoint sells its Romanian operations for 47 million pounds

    PayPoint sells its Romanian operations for 47 million pounds

    The UK cash and online payment operator PayPoint PLC announced on Wednesday that it has reached an agreement on the sale of operations in Romania to Innova Capital for 47 million pounds in cash.

    The company explained that the sale is in line with PayPoint’s emphasis on its strategic priorities and will generate growth and value in the UK main markets.

    In the financial year ended March 31, 2020, PayPoint Romania generated revenues of £ 69.7 million, an operating profit of £ 7.3 million and a pre-tax profit of £ 6.8 million pounds.

    Also, PayPoint Romania’s gross assets stood at £ 48.5 million as of March 31, 2020.

  • Huawei will set up a research and development center in Budapest

    Huawei will set up a research and development center in Budapest

    Chinese giant Huawei will set up a research and development (R&D) center in Budapest, Foreign Minister Peter Szijjarto announced on Tuesday, the Budapest Business Journal reported.

    The investment, which will create new jobs for at least 100 Hungarian engineers, is Huawei’s third in Hungary, Szijjártó said.

    He added that the new R&D center will focus on artificial intelligence, streaming services, image processing, cutting-edge technologies, mass distribution systems.

    Cai Lingyu, head of Huawei Technologies’ subsidiary in Hungary, said the company had invested $ 1.5 billion in the country since 2005 and now has almost 2.400 employees.

    Last year, the Hungarian subsidiary Huawei Technologies recorded revenues of 77 billion forints.

    Is not the first Chinese investment in Hungary, personal computer maker Lenovo will also build its first European plant in Hungary, as Money Buzz! Europa reported.

  • Vectary secures $7 million round led by EQT Ventures

    Vectary secures $7 million round led by EQT Ventures

    Vectary announced a $7.3 million round led by the EQT Ventures fund. Existing investor BlueYard also participated in the round.

    Lauched six years ago, Vectary became the most accessible browser-based 3D and AR platform, helping millions of creators get into the 3D design.

    The increased network speeds now enable a wider range of applications for 3D/AR content, and in the upcoming years, we will see a fundamental shift in design.

    Configurable 3D assets and content for the 2D web, as well as VR/AR, will become increasingly commonplace. As a result of COVID-19, there was a 300% increase in AR views as more businesses started showcasing their products in 3D and Augmented Reality.

    ”3D will eventually outpace 2D. Understanding the shape, depth, and scale of objects is particularly important when choosing and purchasing products and soon having 3D content on a site will be as familiar as having a JPEG image is now”, says Michal Koor, CEO Vectary.

  • IKEA invests in nyris, a German deep-tech start-up company

    IKEA invests in nyris, a German deep-tech start-up company

    IKEA has made a minority investment in nyris, a Germany-based deep-tech start-up company, which provides visual intelligence technology. 

    IKEA customers can already today experience the nyris technology, in the IKEA Place app, providing intelligent, responsive information to the customer, based on its requests and commands.

    This is only the first in a range of upcoming solutions offering to support the customers in their IKEA experience.

    For example; to make product assembling responsive and easier, and the possibility to match home furnishing styles and specific products for the specific customer.

  • Cherry acquires hardware and software producer Theobroma Systems

    Cherry acquires hardware and software producer Theobroma Systems

    Cherry, a global manufacturer of computer input devices and switches for mechanical keyboards, announced today the acquisition of Theobroma Systems Design and Consulting GmbH, an Austrian-based developer and manufacturer of embedded systems.

    With this acquisition, Cherry is specifically expanding its development and production capacities in the security sector.

    The two companies already have a long-standing development partnership with a focus on security computer input devices.

    The acquisition gives Cherry access to Theobroma Systems’ comprehensive expertise in embedded Linux software development and the production facilities throughout the product development process. The newly acquired development skills will initially be used in the security areas.

    Cherry is thus increasing its existing capacities for the development of embedded industrial systems and trustworthy IT systems.

    The initial focus will be on development activities, especially hardware development and engineering for Linux, Android, and RTOS (Real-time Operating Systems).

    Cherry employs approximately 400 people in production facilities and subsidiaries in Germany, France, Great Britain, China (Mainland, Hong Kong, Taiwan) and the USA.