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Skype Founder's VC Firm Atomico Raises $1.24 Billion to Boost European Tech Startups

Skype Founder’s VC Firm Atomico Raises $1.24 Billion to Boost European Tech Startups

Niklas Zennström, a co-founder of Skype, launched Atomico, a venture capital business, which just announced the opening of two $1.24 billion new funds. With the goal of supporting European digital firms in their early and growing stages, these funds aim to give the industry much-needed support in the face of falling valuations and layoffs.

Developing the Tech Sector in Europe

Skype Founder's VC Firm Atomico Raises $1.24 Billion to Boost European Tech Startups

Image Source: techcrunch.com

The fresh funding represents Atomico’s sixth round of funding, indicating a resurgence of hope for the European digital industry. In addition to a $485 million early-stage fund targeted at Series A firms, the firm has announced a $754 million growth-stage fund that targets startups from Series B to pre-IPO stages. This action is a reaction to a notable decline in venture capital funding for European technology, which decreased by about 50% in 2023 over the prior year.

Vision and Investment Strategy

The investment strategy used by Atomico is designed to accommodate entrepreneurs at various phases of their careers. Zennström stressed that European technology is “coming of age” and that in order to help businesses grow internationally, they need to have ambition, dedication, and knowledgeable investors. These firms now have the financial resources from Atomico to expand and contend on a worldwide scale.

Principal Financial Commitments and Upcoming Prospects

The company’s portfolio includes around 155 assets spread across 15 European nations, and it has already made investments in a variety of businesses, such as DeepL, Corti, and Pelago. Atomico’s mission to assist innovative companies is in line with the expanding European tech scene, which currently accounts for about 30% of the world’s early-stage capital.

Andreas Cleve, co-founder and CEO, Corti: “When we chose to partner with Atomico, our motivation was more than just funding; it was about finding a collaborator who truly understands what it will take to build the world’s most trusted generative AI for healthcare. As a lean team with a mission to impact billions of patients worldwide, we needed strategic guidance, operational support, and a shared vision for transformative change.”

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In summary

European tech companies are well-positioned to reach new heights with Atomico’s $1.24 billion fund, supported by a venture capital firm that recognises their particular potential and difficulties. This fundraising gives the region’s tech sector, which is about to undergo a huge transition, much-needed impetus.

 
Skype, Flutterwave Founders Back $205 Million African Tech Fund

Skype, Flutterwave Founders Back $205 Million African Tech Fund

Norrsken22, an Africa-focused venture capital firm, is set to take the African tech scene by storm with its $205 million fund, backed by more than 30 unicorn founders and leading institutions. The fund, with high-profile investors such as Skype’s Niklas Zennström, Delivery Hero’s Niklas Östberg, and Flutterwave’s Olugbenga Agboola, aims to foster the next generation of African tech giants in key sectors like fintech, edtech, and meditech.

Where the fund will be invested

In an interview, Norrsken22’s managing partner, Natalie Kolbe, emphasized the fund’s mission to discover and support groundbreaking tech startups in Africa. The primary focus of investments will be on key African nations such as South Africa, Nigeria, Ghana, Kenya, and Egypt.

With five investments already under its belt, including TymeBank in South Africa, the firm’s ambition is to expand its portfolio to around 20 investments within Africa’s beacon economies.

Skype, Flutterwave Founders Back $205 Million African Tech Fund

Image Source: bloomberg.com

Africa’s young and tech-savvy population is a driving force behind the increasing demand for technology services, spanning from entertainment to banking. Norrsken22 recognizes this trend and is dedicated to fueling the growth of tech businesses on the continent. Digital infrastructure development and widespread smartphone adoption are providing a fertile ground for innovation and entrepreneurship in Africa. The urbanization and growing demand for financial and health services present exciting opportunities for tech startups looking to scale.

The impressive lineup of investors in Norrsken22’s fund further underscores its significance. Institutions like Standard Bank Group, Norfund, British International Investment, the International Finance Corporation, and the US International Development Finance Corporation are joining the movement to support Africa’s tech ecosystem.

Dwindling funding in Africa

This initiative comes at a crucial time when funding for startups in Africa has faced challenges due to a global slowdown. In the first half of the year, the continent attracted approximately $2.5 billion in investment, according to Briter Bridges. The injection of $205 million by Norrsken22 is a much-needed boost for the African tech industry.

Norrsken22 is not alone in recognizing the potential of the African tech landscape. Another venture capital fund, Partech, recently raised over $260 million for investments in the continent, highlighting the growing interest and optimism in Africa’s tech and innovation sector.

As Norrsken22 sets its sights on finding and nurturing the next African tech giants, it holds the promise of empowering innovation, creating jobs, and driving economic growth across the continent. With the support of visionary founders and leading institutions, the $205 million African Tech Fund is poised to make a significant impact and contribute to the realization of Africa’s tech-driven potential.

Skype

How to Add Bing ChatGPT in Skype?

Users can now engage with Bing on Skype, which is powered by AI, thanks to Microsoft.

In contrast to conventional messaging via SMS, Skype is a messaging platform that provides text messaging, video calls, and voice calls over the Internet. Microsoft acquired Skype in 2011.

Skype
Image Source: gizmochina.com

The platform has gradually lost users over the last thirteen years, mostly to Zoom, Whatsapp, and Telegram. But with the recent integration of its latest Bing ChatGPT into the chat service, Microsoft has given Skype some new AI life.

Also Read: Snapchat launches A.I. chatbot powered by OpenAI’s GPT

How do you integrate Bing ChatGPT with Skype? The 5 easy stages are listed below.

  1. Register with the Bing Waitlist. You currently need to be chosen to be a part of the Bing Preview for using Bing ChatGPT on Skype, and you can join the preview by signing up for the waitlist. You can move on to the following step after receiving an email from Microsoft informing you that you have been chosen to test out the Bing Preview.
  2. Install the Skype application on Windows. If the Skype application is already installed on your PC, move on to step 3.
  3. Use your Skype or Microsoft account to sign in to Skype.
  4. Make Bing a contact on Skype. To start a conversation with Bing, select “New Chat > New Chat > Search “Bing” > Bing”. When you say “hello” to Bing, Skype will add it as a contact.
  5. Bing can be added to group chats (Optional). Go to your group conversation, click the gear-shaped setting button beside the group name, and then click “Add Participants > Bing” to add Bing as a participant. Simply add @Bing to the top of your message to start a conversation with Bing in the group chat.

That’s it; you can now use the voice call giant to communicate with the New Bing ChatGPT!

Upon request, Bing can also summarise group chats and make restaurant recommendations for you and your pals. Not to mention, you can download the Skype applications from the Google Play Store and the Apple App Store to use the service on Android and iOS.

Users of Bing can ask the chatbot queries or request information by using the voice search option. With a straightforward voice or text command, it will be able to reply with potential travel locations, weather reports, and hotel names and price lists, assisting users with chores like planning their upcoming vacation.

Users of Skype can rely on Bing to spice up conversations with peers by sharing poetry, jokes, quizzes, and other content. They can even suggest that the bot compose a song using the data they provided in their request.

Also Read: Instagram starts testing its age verification tools in more countries

Microsoft recommends mobile users anticipate connectivity issues in areas with low bandwidth. Soon, a fix ought to be made available. Because of its machine-learning capabilities, Bing is anticipated to grow its information base.

The likelihood of receiving personalized answers increases the more an individual responds with Bing. Since the recent update to the Edge browser, users can also view the new Bing.

Once its powers are polished, Microsoft wants to add this feature to Teams and other communications platforms.

skype

As Microsoft’s Skype Falters, Zoom Rises to the Occasion

With two weeks still left to go to end the nation-wide lockdown, people all around the country are relying on video-calling apps to communicate. As the novel coronavirus continues its dominant surge across North America and Europe, most of the world’s countries have gone into a nation-wide shutdown. With curfews in place, bans on gatherings and public transport, most people are confined to their homes. Since a majority of the world’s population is now sitting idly in their houses, applications that help in communicating are seeing a surge in demand. As we cannot go out to meet and socialize, apps that allow us to do so digitally are being used round the clock to beat boredom. Whether it is to play a game of UNO or have a group video-call, these apps are slowly taking over our smartphones. Skype and Zoom are the two most popular video-calling options available right now, and here’s a look at how one has faltered, while the other has surged.

Skype Vs Zoom

If this pandemic had occurred in 2011, the entire world would have been on Skype, calling, chatting and talking to their loved ones. Unfortunately, though, for Microsoft, in the year 2020, they aren’t able to replicate that level of success. With thousands of people looking for Skype alternatives, competitors such as Zoom and Houseparty are making the most of this departure. The recent weeks have seen people use Zoom to hold yoga classes, school lectures and even socialize with friends. Microsoft took over Skype in 2011, thanks to a deal that cost them $8.5 billion.

The same year saw the founding of both Zoom and Snapchat. Back then, Skype had over 100 million active users with 8 million of them choosing to voice calls over the application. Hence, it is safe to say, that back in 2011, Skype was the leading market player, being everyone’s first choice for video calling. It was so popular that the Onion released a statement that the word Skype would soon find a place in the dictionary.

Furthermore, three years later, the prophecy came true, and it was added as a verb to the Oxford English Dictionary. However, at the same time, Microsoft was struggling with turning Skype into a profitable and relevant business.

End of an Era

Microsoft’s acquisition of Skype happened during the same time applications such as WhatsApp, Messenger, and WeChat were gaining momentum with youngsters. In a bid to lessen competition, Microsoft even got rid of its own Live Messenger, which was also quite popular at the time.

One of the biggest problems Microsoft had was that Skype worked on Peer-to-Peer technology, making it difficult to adapt to mobile devices. In 2013, Microsoft shifted Skype from a P2P network onto cloud-powered servers, in a move to make it more efficient on mobile devices. The same year, Skype began the default messenger for Windows 8.1, and also a part of the Xbox One console and Outlook.com.

However, the transition was messy, resulting in repeating notifications on multiple devices. This led to the app becoming less reliable, while all of its competitors kept growing from strength to strength. Rather than fixing the underlying issues which led to this unreliability, Microsoft kept trying to redesign the interface for years.

Change in Direction

Instead of fixing Skype, Microsoft kept adding new supplementary features such as emoji’s and shutting down the Qik app. Then, in 2017, Microsoft redesigned Skype and made it eerily similar to Snapchat. However, this did not sit well with fans, and soon enough, Microsoft had to get rid of these features. Then, the tech giant pushed Skype as a replacement for Lync, an enterprise messaging application. However, with the arrival of Microsoft Teams in 2016, this plan too was dropped mid-way. With the success of Teams, Microsoft has been pushing it aggressively, taking all the spotlight off Skype. While Skype might not disappear soon, it no longer seems to be the company’s main focus. In 2015, Skype boasted of over 300 million active users, and Microsoft hasn’t bothered to update those numbers since.

Coronavirus-related Surge

The coronavirus pandemic has led to a 70% surge in usage, with over 40 million people using Skype daily. This means that before the Coronavirus pandemic, over 23 million people used Skype daily. However, at the same time, rivals such as Zoom, Hangouts and Houseparty also seem to be doing quite well for themselves. Both Zoom and Houseparty have exploded with Zoom topping the American App Store and coming in second in the UK App Store list. Houseparty has topped the UK and comes in at third place in the US. By comparison, Skype comes in at 75 in the US and 15 in the UK.

However, Microsoft Teams is doing much better, being 7th in the US, and 6th in the UK. However, Zoom refuses to share their numbers regarding usage, and hence we do not know the actual number of users. The biggest reason for people turning to Zoom and Houseparty is due to their ease of use. However, both these apps are now facing privacy concerns with Zoombombing and Houseparty hacking has become popular.

While there are several reasons for people migrating to Zoom and Houseparty, Microsoft’s inefficiency when it comes to dealing with Skype’s issues is definitely a major reason. With Skype all set to migrate to an Electron-powered app, making it more like a traditional desktop app, the future looks uncertain for Skype. Reports even state that it might face the same verdict that Live Messenger did a few years ago.

skype

Skype : A Communication App that Won the World

In the last few decades, the world has changed a lot. What seemed to be impossible a few years ago, is being executed with zero effort today. With the boom in entrepreneurship and startups getting the hang of the wave, human life is at its technological best. Our generation has witnessed a large number of success stories, but not every one of it has managed to stay with us for so long. The inventions that change the world are the ones that feed the depriving hearts of society. The success story of Skype is one such idea that changed the very nature of web business by revolutionizing the chat connectivity of the virtual world.

Founded in the year 2003 by Janus Friis and Niklas Zennstrom, Skype turned out to be the biggest surprise that changed the face of online communication for the years to come. One can say that Skype lessened the distance between people, or in other words, started bringing people together. It gained almost 6000 subscribers within just one week of its launch, and this is when the duo realized that they are in for something huge. This realization proved to be true as we look at the trail they have left behind.

Janus and Niklas developed the application with the help of a group of highly skilled individuals, namely Ahti Heinia, Priit Kasesalu, and Jaan Tallinn. The most attractive aspect of Skype is that it is free. During a time when the telecom industry charged a fortune for international calls, Skype provided free video calls through the usage of P2P connectivity. It was an actual boon to the people who were separated from their loved ones through distance. It also mitigated the location issues for major business meetings and other official programs.

skype founders
Image Source: taliawebs.com

Like every huge success story, Skype, too, has a humble beginning. Zennstrom was collecting the telephone bills of his friend in Europe when he realized how huge the telecom companies charge for long-distance phone calls. This is what led to the invention of Skype, as simple as that. They wanted to avert the escalating telephone bills and wanted to make communications across the globe more cheap and efficient.

Within just two years of its inception, Skype already had 20 million active users and was growing at an exponential rate of 5 new users per second. This growth soon attracted a lot of attention from huge names such as eBay and Microsoft. eBay later in 2005, acquired Skype for a whopping sum of 3.5 billion USD. The most successful project of the internet industry, Skype, again get attracted the interest of other tech giants. And, this time, Microsoft acquired Skype for 8.5 billion USD.

The innovation by a team of young minds changed the way people talk across the globe. It was an extravagant success, as there is no greater deed than filling the deficiency of society.

Back in 2003, it was the need for a more efficient and low-cost communication system. The founders say that they were very naïve and highly optimistic in their journey throughout Skype. But it was this same spirit that led them to launch the service. They did not dive into the what-ifs and other nitty-gritty of all the things that could go wrong. The other main highlight of the concept was that there was nothing much complicated about functioning. There were no complicated procedures or troubling interface. Everything was simple and clear. This also was a contributing factor to the immense success of the idea.

Every big change starts from a small spark. This spark comes to every one of us. The ones who can latch on to the spark and ignite a fire become successful. These build unicorn companies, multi-million dollar empires and some even end up becoming legends. Skype provides the biggest example of how small ideas can revolutionize the world. It started a chain of changes that still ripples across the surface of the virtual world and how people communicate with each other.