Some tech workers are now earning $400k straight out of uni. Why?

Norwegian and Swedish Grocery Delivery Startups Merge to Leverage Each Other's Key Strengths

ODA, a Norwegian grocery scale-up, has merged with Martem, a Swedish equivalent, to enhance their market presence and profitability. ODA, which is operationally profitable in Norway, requires higher volumes to increase platform profitability. Martem, on the other hand, has struggled to compete on price. By combining their strengths, the merged company aims to succeed in both markets and tap into the growing demand for online grocery shopping.

The Rise and Fall of Norwegian Electric Vehicle Charging Startup Easy

Easy, a Norwegian electric vehicle charging startup, experienced rapid growth and success after selling over half a million EV chargers across Europe. However, the company faced a significant setback when its best-selling EV chargers were banned by the Swedish National Electrical Safety Board due to safety concerns. This triggered a domino effect with other European regulators examining Easy's chargers. To stay afloat, Easy introduced a new charger, Easy Light, and raised a convertible loan of 5 million euros. The company's future remains uncertain as it awaits the outcome of its appeal against the sales ban.

French Startup Upway Raises $30 Million to Scale Up its E-bike Refurbishment Business

Upway, a French startup, has secured $30 million in funding to expand its e-bike refurbishment operations. The company purchases secondhand electric bikes from retailers, manufacturers, and customers, refurbishes them in its warehouses, and sells them back to consumers with a one-year warranty. Upway focuses on building trust in the secondhand e-bike market and addressing consumer concerns about the condition of used bikes. The funding will be used to increase the size of Upway's warehouse in Paris, open a second warehouse in Los Angeles, and expand its team in the US.

VC Trends: European VCs Struggle with Fundraising Amid Challenging Market Conditions

European venture capital firms are facing challenges in raising funds, with only 13.9 billion euros raised in the first nine months of the year compared to 27.6 billion euros in the previous year. The tightening of capital allocation by limited partners (LPs) and the lack of liquidity to invest are major factors contributing to this trend. However, 72% of VCs surveyed anticipate returning more money to LPs next year. Family offices are the most common and easiest LPs to raise money from, while pension funds and sovereign wealth funds are typically more challenging. VCs also mentioned that maintaining strong unit economics and differentiating their products are critical for sustainable success in the market.

Startup Europe — The Sifted Podcast

Some tech workers are now earning $400k straight out of uni. Why?

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Quick takeaways

Deep dives

Norwegian and Swedish Grocery Delivery Startups Merge to Leverage Each Other's Key Strengths

The Rise and Fall of Norwegian Electric Vehicle Charging Startup Easy

French Startup Upway Raises $30 Million to Scale Up its E-bike Refurbishment Business

VC Trends: European VCs Struggle with Fundraising Amid Challenging Market Conditions

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