This Week in London Startups - Issue #25, 19th October 2021



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This Week in London Startups - Issue #25, 19th October 2021
By London Startup Club • Issue #25 • View online

Facebook announces 10,000 new jobs in the EU
Facebook announces 10,000 new jobs in the EU
If you’ve ever watched Futurama, you may remember the episode where they go into the internet. Well, Facebook has announced it’s working on building what it calls the “Metaverse”, the next computing platform - a new phase of interconnected virtual experiences using technologies like virtual and augmented reality.
In doing so they’ve also decided to build it all here in Europe, creating 10,000 new jobs. There are two things that draw interest for me here.
Firstly - why Europe?
Facebook is a big American company with one of the best employer brands, surely they could hire top talent across North America? I think this is a sign of what’s to come. With remote working, we are witnessing employment becoming distributed and companies tapping into a truly global workforce. Europe has a highly skilled, English-speaking and cheaper workforce than the USA, including better living conditions and social welfare making it an attractive place for companies to grow into (and potentially people to relocate to).
Secondly, with all the scandals that have faced Facebook (no pun intended), the strict regulations in the EU will provide a framework for them to operate in and help to win back consumer trust as they build the future of the Internet.
It’s an exciting time to be in Europe, I truly believe that other big tech companies will follow Facebook’s suit and invest significantly in Europe in the coming years and perhaps making it the premier destination for talent and startups.
Haris Qureshi, Editor & Co-Founder @ London Startup Club
Top News
  • Sofinnova raises Europe’s largest early-stage healthcare fund with €472m, more here
  • Most UK scaleups have worse than average gender pay gap, more here
  • UK’s antitrust regulator to probe music streaming market, more here
  • Meet Europe’s largest female led VC firm, more here
  • Revolut’s billionaire CEO has opened a family office in London, more here
  • Ford invests $316M to build electric power units at UK transmission facility, more here
  • Central and eastern European startups are raking in the money, more here
  • Seven takeaways from the Accel state of European SaaS report, more here
UK Funding Rounds
London-based insurtech BondAval picks $7M seed round led by Octopus Ventures, more here
  • Brighton-based pet-sitting network, TrustedHousesitters lands $10M to fund US expansion, more here
  • Chip scoops up £11.5M from 12K investors to close biggest equity crowdfund of 2021, more here
  • Vegan meal delivery startup from London allplants secures a £38M Series B round, more here
  • UK’s first AI-powered borrower wellbeing app, ilumoni launches after raising £1.6M funding, more here
  • London-based fintech startup Plum ramps up $14M to supercharge expansion in Europe, more here
  • London-based global API-first payment technology platform GPS secures $300M funding, more here
  • Birmingham-based Aceleron just raised £2.5M to develop sustainable battery technology, more here
  • Fika: London-based mental fitness platform co-founded by cancer survivor raises £1.2M funding, more here
  • Manchester-based Shopblocks picks £1M funding to support its rapid growth, more here
  • London fintech 9fin grabs £8M funding to expand into US, opens office in New York, more here
  • Carl Pei’s London-based startup Nothing raises $50M funding; enters partnership with Qualcomm, more here
  • London-based insurtech Humn secures £10.1M funding to enable real-time fleet insurance, more here
  • SoftBank backs London-based crypto analytics startup Elliptic raises $60M, more here
International Highlights
  • Swedish fintech Juni bags £38M funding with UK rollout plans, more here
  • Delivery Hero leads $1B investment in on-demand delivery startup Gorillas, more here
  • Collaboration platform CoLab raises $17M in Series A funding led by Insight Partners, more here
  • SoftBank, Amazon, Accel and others put $108M in Brazilian banking and payments infra provider Pismo, more here
  • Supply chain-focused insurtech startup BondAval lands $7M from Octopus Ventures, more here
  • Frozen coffee startup Cometeer raises $35M Series B and launches its product in earnest, more here
  • Indian fintech CRED valued at $4 billion following $251 million fundraise, more here
  • Singapore-based Geniebook’s personalized learning platform raises $16.6M Series A, more here
  • SoftBank puts €150m into solar startup Enpal as energy prices surge, more here
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