University of Edinburgh spin-out BIOCAPTIVA has raised £1.58 million in a new funding round and launched its first product in the US. BIOCAPTIVA’s novel magnetic bead technology is designed to solve one of liquid biopsy’s biggest bottlenecks: preparing blood samples for cancer research and diagnostics. By improving how cell-free DNA is captured from blood, the technology aims to make liquid biopsy testing more reliable, scalable, and accessible. The company's patented msX platform extracts DNA directly from whole blood without the need for centrifugation or additional reagents, delivering higher-quality samples with simpler, faster processing. The technology has the potential to accelerate and scale cancer research by addressing a long-standing bottleneck in liquid biopsy sample preparation, a growing market in non-invasive genetic testing. BIOCAPTIVA launched its msX kits for research use in Boston earlier this month to build a body of evidence across a range of applications. The raise was led by existing investor Archangels, with support from Old College Capital, BBI, Scottish Enterprise, and new investor EverQuest Capital Partners. To further cement its growth, the company has appointed Alan Schafer as Chief Technology Officer. Schafer brings more than 30 years' experience in genetics technologies and molecular diagnostics, including roles as CTO at Inivata (acquired by NeoGenomics in 2021 for $415 million), CEO at Population Genetics Technologies and 14M Genomics, and former VP Technology Development (Global) at GlaxoSmithKline. According to Jeremy Wheeler, CEO of BIOCAPTIVA, while oncology scientists and technologists have been doing incredible work with the samples they’re given, there hasn’t been any significant progress in how the samples are prepared for years. "Our msX platform has the potential to revolutionise how samples are collected, allowing for larger samples, faster extraction, simpler processing, and fully automatable capabilities. In practice, that means faster, better and deeper iteration and research on cancer, leading to better outcomes for potentially millions of people globally. This new funding brings us closer to achieving that goal.” Sarah Hardy, Director and Head of New Investment at Archangels, said: “BIOCAPTIVA is at an inflexion point in its growth trajectory with the launch of its new msX beads. The market potential for the technology is remarkable, and with the products, the senior leadership and the research and development capability within the business, we’re confident about the future success of the BIOCAPTIVA.” Derek Shaw, Director of Entrepreneurship and Investment at Scottish Enterprise, said:  “Our investment in BIOCAPTIVA highlights our commitment to helping increase the scale of capital investment by businesses in Scotland to support our economy, drive productivity and create higher-value jobs. Company growth and productivity can lead to optimised operations, expanded export capabilities and move jobs up the value chain.” The funding will also support R&D investment to expand BIOCAPTIVA's product range and potential applications.

Nscale, the Nvidia-backed AI infrastructure startup, has raised $2bn in a Series C funding round, valuing it at $14.6bn, and appointed Sheryl Sandberg and Nick Clegg to its board.   The round, which Nscale says is the largest Series C ever in Europe, was led by existing investor Aker ASA, the Norwegian investment firm, and VC firm 8090 Industries. Astra Capital, Citadel, Dell, Jane Street, Lenovo, Linden Advisors, Nokia, Nvidia and Point72 also participated in the round. The latest funding round follows the London-headquartered startup securing a $1.4bn loan to fund the purchase of GPUs earlier this year, and months after it secured a $1.1bn Series B.   Nscale, which pitches itself as a "hyperscaler engineered for AI", is a key local AI infrastructure partner for OpenAI, Microsoft and Nvidia, which have announced significant investments into the UK AI ecosystem. The startup develops data centres and provides cloud services. The startup is providing AI infrastructure for OpenAI’s AI data centre in Norway, called Stargate Norway, and its UK equivalent, Stargate UK. Nscale, which only emerged from stealth in 2024, said it will use the funds to speed up the buildout of its AI infrastructure, including its data centre offering, and expanding in overseas markets. Nscale has also appointed former Meta leaders Sheryl Sandberg and Nick Clegg, the former UK deputy prime minister, and Susan Decker, a former president of Yahoo, to its board. Josh Payne, CEO and founder of Nscale, said: “This is the fourth industrial revolution; the world is changing at a rapid pace. Over the next 5 years, artificial intelligence will be integrated into every industry, every product, and every job. "Accelerating drug discovery, extending human life, autonomizing travel and robotics, lifting productivity, and driving massive growth. "This is leading to the largest infrastructure buildout in human history. Nscale is leading this buildout. We are building this foundation that the market sits on, the engine of superintelligence.”

Mirai Robotics has raised $4.2 million Pre-Seed, one of the largest in Italy in the robotics and deep-tech sector, to build autonomous and intelligent maritime systems to master every sea. Primo Ventures, Techshop and 40Jemz Ventures led the round, with participation from leading Italian and international angel investors.  The sea is one of the most critical infrastructures on the planet. Over 80 per cent of global trade moves by sea, more than 90 per cent of Europe’s foreign trade depends on maritime routes, and around 95 per cent of international internet traffic flows through subsea cables.  But despite its economic and geopolitical centrality, the maritime domain remains one of the most complex and least digitised environments in the world: high operational costs, limited continuous observability, significant exposure to risk, and a strong reliance on human operators.  This is compounded by an increasingly structural trend: a shortage of qualified professionals, with thousands of operational roles difficult to fill and a steadily rising average age among captains and operators. A fully human-centric model is struggling to sustain continuous, safe, and scalable operations. Mirai Robotics aims to build the robotic infrastructure needed to make the sea more governable, safe, and observable. Mirai Robotics’ systems are designed to enable persistent surveillance, patrolling, monitoring, and control, reducing human exposure to risk and significantly lowering operational costs compared to traditional models. The company focuses on the deep integration of autonomous vehicles, advanced sensing, artificial intelligence, and control systems, approaching autonomy first and foremost as an engineering and industrial challenge — not merely a software one. The company was founded by Luciano Belviso (CEO), Luca Mascaro (Chief Product & Technology Officer), and Davide Dattoli, board member. Luciano Belviso has previously built and led highly complex industrial companies, including Blackshape, a benchmark player in aircraft design and manufacturing, later acquired by Angel Holding.  Luca Mascaro is an entrepreneur and technological designer, founder of Sketchin, later acquired by the BIP Group, where he served as Chief Innovation Officer, with extensive experience in building digital products and technology platforms at international scale.  Davide Dattoli is an entrepreneur, founder of Talent Garden, and an investor in the tech and education ecosystem, with a long track record in scaling innovative companies across Europe. From a product perspective, Mirai Robotics has already developed two autonomous vehicles designed for different operational needs, targeting ISR (Intelligence, Surveillance and Reconnaissance) and patrolling scenarios in both coastal and offshore environments. The vehicles integrate advanced perception systems, autonomous navigation, remote control, and safety features, and are designed to operate either as standalone units or as part of distributed systems. Alongside its proprietary platforms, Mirai Robotics also develops autonomy, navigation, and control solutions that can be integrated into third-party vehicles, enabling industrial and institutional operators to adopt autonomous technologies without fully redesigning their existing fleets. This approach makes Mirai’s technology applicable across multiple civil and institutional use cases, following a dual-use-by-design logic. Italy is historically a global leader in shipbuilding and maritime engineering, with internationally recognised excellence in defence, yachting, offshore, and marine infrastructure. Mirai Robotics was born at the intersection of this industrial heritage and a new generation of technologies based on advanced robotics, AI, and autonomous systems. “The sea is one of the last major physical infrastructures not yet governed by software,” says Luciano Belviso, CEO of Mirai Robotics. “Autonomy is the key to finally making the oceans safe and usable, unlocking enormous resources and addressing critical security challenges. But it must be implemented through systems capable of operating continuously and safely in extreme environments. This is a technological and industrial challenge that requires a true robotics-lab approach.” According to Gianluca Dettori, Partner at Primo Capital, the maritime domain is at an inflexion point.  “We're looking at a huge economy that still relies on operational models designed decades ago. The human capital gap alone — thousands of unfilled roles, ageing workforces, increasing operational risk — makes the status quo unsustainable. What Mirai Robotics is building isn't just automation; it's the fundamental infrastructure layer that will allow the blue economy to scale safely and efficiently.” The capital raised will be used to accelerate technology development, strengthen the team, and launch new pilot projects with industrial and institutional partners. Lead image: Luciano Belviso and Luca Mascaro. Photo: uncredited.

Last week, we tracked more than 60 tech funding deals worth over €1 billion, and over 15 exits, M&A transactions, rumours, and related news stories across Europe.Click to read the rest of the news.

?. This week, we tracked more than 60 tech funding deals worth over €1 billion and over 15 exits, M&A transactions, rumours, and related news stories across Europe. Alongside the week’s top funding rounds, we’ve highlighted the most important industry stories, including the release of our monthly report for February covering key investment trends, notable company activity and emerging sectors. Alongside the week’s top funding rounds, we’ve highlighted key industry developments, as well as notable trends in European venture activity, investor moves and emerging sectors shaping the current funding landscape. If email is more your thing, you can always subscribe to our newsletter and receive a more robust version of this round-up delivered to your inbox. Either way, let's get you up to speed. ? Notable and big funding rounds ?? PLD Space raises €180M to scale satellite launch infrastructure ?? Backed by €113.8M, RIFT to deliver 340 GWh of industrial heat annually and avoid over 1M tonnes of CO₂ ?? Self-driving startup Oxa raises $103M to scale industrial deployments ??. Flink lands $100M to advance targeted expansion ??‍?? Noteworthy acquisitions and mergers ?? Medtech company Gleamer is acquired by an American company for €230M ?? Onetag acquires Aryel to build a new programmatic ad exchange ?? German logistics tech firm cargo.one adds Cargofive in €17 million-backed multimodal expansion ?? US tech giant Avalara acquires Manchester startup Versori ? Interesting moves from investors ?  GHARAGE Ventures launches Fund I and opens global travel platform ?. FIRSTPICK raises €25M to find the Baltics’ next breakout founders ?. EIF makes largest defence investment yet with €50M backing for Join Capital ?️ In other (important) news ??  February funding rebounds to €7.8B as UK startups capture the lion’s share of European capital ??  European Tech.eu Pulse: key trends and investment in February ??. From energy transition to deeptech growth: the Swedish tech ecosystem ? UK-headquartered satellite startup Open Cosmos plans European rival to Starlink ?  Wilbe opens White City lab in London to remove infrastructure bottlenecks for science startups ?? Defence tech outfit Mutable Tactics raises over $2M in pre-seed round ?? Qura secures €1.5M to rethink health management in Europe ?? Synca Therapeutics received €1.3M in follow-on funding by BioInnovation Institute ?? Venture Kick backs Fainite with €170,000 to advance physics-based simulations ?? Noxon closes seed funding round to advance muscle-computer interface technology

On 8th March (International Women’s Day), Lovable is making its platform completely free globally for 24 hours to celebrate SheBuilds, Lovable’s program spotlighting women building software across the world. SheBuilds shows what’s possible when building software is accessible to anyone with an idea. This year, it is becoming a global build day that anyone can join, at no cost, with no coding or application required: Lovable will be free worldwide for 24 hours, with no registration required. Participants will learn to build with AI and ship a real app by the end of the day. Builders will also receive $100 in Anthropic API credits and $250 in Stripe fee credits. The day will centre on a live build event hosted by Elena Verna, Lovable’s Head of Growth, streamed from Stockholm, alongside events in Boston and more than 30 community gatherings across 17 countries. Previous SheBuilds participants have launched real products used by customers worldwide, including AI Recess, MicroFundHer, and Sawa. Elena Verna, Head of Growth at Lovable, said: “For years, women have been told to wait. Wait for support, for permission, and for resources to build. SheBuilds is working to change that. On March 8, we’re offering free access to Lovable globally and, together with our community partners, creating space for anyone to show up with an idea and leave with something live. Because when more people can build, they don’t just launch products, they change what’s possible.” Anton Osika, Co-founder and CEO of Lovable, said: “For decades, the ability to build software determined who got to turn ideas into reality, and most people were locked out. AI changes that, and SheBuilds is about proving it. For one day, we’re opening Lovable to everyone and removing the barrier to building. When more people can build, new businesses get created, new solutions appear, and entirely new value enters the world. That’s the shift we’re here to lead.”

The CEO of a prominent UK open banking fintech says the adoption of pay by bank, which is an alternative to card payments, is only "at the starting line".   TrueLayer CEO and co-founder Francesco Simoneschi was speaking on the Tech.eu podcast, where he spoke about the evolution of open banking in the UK, the adoption of pay by bank, TrueLayer's deal with Amazon, and what lies ahead for TrueLayer.   TrueLayer, which is backed by Tiger Global and Stripe, leverages open banking technology to allow customers to make pay by bank online transactions, which is an alternative to going through card giant intermediaries Visa and Mastercard. TrueLayer, which laid off around a quarter of its staff in 2024, recently received “strategic investment” from eBay.   TrueLayer’s merchant partners include Amazon, Just Eat Takeaway, Revolut and Coinbase.   TrueLayer believes that Amazon’s adoption of the tech signifies broadly where consumer behaviour is heading. Simoneschi said: “We are at the starting line when it comes to large retailers adopting pay by bank.”   Asked if it would be a good result for TrueLayer if Amazon acquired the startup, Simoneschi said, “I would say no. Personally, I am having a lot of fun being an independent company.”   On future retail adoption of pay by bank, he said: “We see a lot of demand. Whenever there is a high frequency of the relationship, there is always an opportunity in the form of loyalty.   "Many of the retailers have big loyalty schemes. I think a key element of that will be how you link up pay by bank to merchants’ loyalty programmes." The CEO also discussed VRPs (variable recurring payments), which many see as the next big thing in open banking, the importance of sovereign payment infrastructure, and TrueLayer’s plans for 2026.

Madrid-based TaxDown has secured €4 million in financing from BBVA Spark. The funding is supported by the European Union’s NextGenerationEU program and the European Investment Fund (EIF), with additional backing from Spain through the State Compartment of the InvestEU program. Founded in 2019 by Enrique García, Álvaro Falcones, and Joaquín Fernández, TaxDown is a fintech company focused on digital taxation. The platform combines proprietary technology, artificial intelligence, and expert support to help individuals plan, optimise, and file their taxes in a simple and secure way. Artificial intelligence plays a central role in the company’s business model, enabling process automation, personalised tax guidance, and greater efficiency for human experts. Through its platform, users can file tax returns, identify eligible deductions, receive personalised recommendations, manage additional tax procedures, and access expert advice. Commenting on the investment, Enrique García, CEO and co-founder of TaxDown, said: Having BBVA Spark as a financial partner is a very important step for us. This funding will allow us to continue investing in artificial intelligence, improve our product, and keep simplifying the financial lives of millions of people. We want managing taxes to stop being complex and become an automated, transparent, and accessible experience. TaxDown operates in Spain and Mexico, has more than 4 million users, and over 500 companies use its services as a technology partner. The new financing will support the company’s growth, the development of new AI-based solutions, and the expansion of its technology team.

Revolut is making a fresh attempt to secure a US banking licence, it said today, as it scaled up its ambitions on the US market. Revolut, valued at $75bn, hailed the filing for the US bank charter with the US Office of the Comptroller of the Currency and Federal Deposit Insurance Corporation as a “major milestone”.   It comes as Revolut, seen as the crown jewel of UK fintech, looks to rapidly expand in the US, where it has over one million customers.   The filing also comes as Revolut, which has over 70m customers in over 40 markets, still awaits a verdict on whether it has won a full UK banking licence. The US banking market has proved a tough nut to crack for European challenger banks.   German challenger bank N26 abandoned the US market in 2021, while another UK challenger bank, Monzo, withdrew its application for a US banking licence around a similar time.   Revolut submitted a draft application for a US banking licence in 2021, but did not apply for a full licence. However, President Trump’s administration is seen as more open to new entrants in the US banking market.   Should it win a US banking licence, it would not only give Revolut the cachet of a US banking licence, but it would mean Revolut would be able to offer personal loans and credit cards itself. It would allow it to operate across all 50 US states, under federal oversight.   Revolut currently partners with US bank Lead Bank to offer some services in the US.   Revolut co-founder and CEO, Nik Storonsky, said: “The United States is a key pillar of our global growth strategy. Filing for a national bank charter is a major milestone toward our vision of building the world’s first truly global banking platform.    "This charter will give us the direct control needed to innovate faster and deliver the Revolut experience to millions more Americans as we move toward our goal of 100 million customers.”   Additionally, Revolut has appointed former Visa, Capital and Raisin executive Cetin Duransoy as its new US CEO, replacing Sid Jajodia who remains at the company as Revolut's global chief banking officer.

Validio, an agentic enterprise data management platform, has raised $30 million in Series A funding led by Plural, with participation from existing investors and angels including Lakestar, J12 Ventures, Kevin Ryan, Denise Persson, and Emil Eifrem. The round brings the company’s total funding to $47 million. As organisations accelerate the adoption of AI, many initiatives struggle to move beyond the pilot stage due to challenges related to data quality and availability. At the same time, companies face growing pressure to ensure reliable and well-governed data, particularly in regulated industries. While AI technologies are already delivering productivity gains, their broader impact depends largely on access to high-quality, trustworthy enterprise data. Many existing data management tools were not designed for this environment. Organisations often still rely on manual, rules-based processes that require teams to create and maintain thousands of static checks, making these systems slow to implement, costly to maintain, and difficult to scale for AI-driven operations. Validio aims to address this challenge with a platform that automates data monitoring and management. Organisations in data-intensive and regulated sectors (including Nordea, Canva, Deutsche Glasfaser, Truecaller, Surfshark, Walden, and AllianceBernstein) use the platform to maintain data reliability and quality. The company’s platform detects and addresses data quality issues across large datasets through automated monitoring, anomaly detection, and integrated data lineage and cataloguing. This approach replaces thousands of manual checks and provides organisations with greater visibility and control over their data. Designed for cross-functional use, the platform enables both business and technical teams to collaborate and resolve data issues more efficiently. Patrik Liu Tran, founder and CEO of Validio, said many enterprises still struggle to rely on their data for reporting and analytics, even as they attempt to use it to support AI initiatives: The fastest way for enterprises to become truly data-driven and implement AI is to fix their data foundation with carefully curated and quality-assured data. We’ve built Validio to be the platform to help enterprises do just that, and we’re excited to partner with Plural as we scale globally. Over the past year, Validio reports strong growth in annual recurring revenue as demand for reliable enterprise data increases. The new funding will support expansion of its go-to-market efforts across the US, UK, and Northern Europe, continued product development, and team growth.

Cheer Games, a mobile puzzle game studio, has raised $4.5 million in a pre-seed funding round led by Makers Fund, with participation from Play Ventures and a group of angel investors. Founded by former senior leaders from AppLovin’s Lion Studios, Cheer Games was established by Emre Gercel (CEO), Berkay Ozturk (CPO), Ertan Ünver (CTO), and Kutay Koralturk (CMO). The founding team previously worked together on successful mobile titles, including the puzzle game Hexa Sort, and brings experience across game design, product development, growth, and business strategy. Emre Gercel said the company was founded with the ambition to build enduring game franchises and a long-lasting studio: We started Cheer because we believed we could build something more durable than the industry's short-term thinking allows for. To build games that become franchises and studios that become institutions. Barcelona gives us the global stage, our Turkish roots give us the hunger, and this team gives me complete confidence that we'll deliver. Cheer Games focuses on developing casual puzzle games for smartphones, with the goal of building scalable intellectual property and long-lasting mobile game franchises. The studio aims to create engaging gameplay experiences while applying a structured, product-driven approach to game development. Headquartered in Barcelona, Cheer Games is building a focused team with experience from leading European gaming companies. By combining expertise in game design, live operations, product development, and growth, the studio aims to develop a portfolio of puzzle games designed for global mobile audiences. The funding will be used to accelerate the development of upcoming mobile puzzle titles and expand the Barcelona headquarters by hiring additional global talent.

Wilbe, the venture fund and platform that trains and backs scientists to build companies from day one, today announces the launch of its first dedicated lab facility in White City, London. To date, Wilbe has trained more than 1,400 scientists, backed 22 companies, and helped create over $1.3 billion in value worldwide. However, through its venture programme and fund, Wilbe has repeatedly seen the same bottleneck emerge: founders raise early capital, but struggle to find venture-appropriate lab space quickly enough to maintain momentum. By adding physical lab infrastructure to its existing training and investment platform, Wilbe can now support scientists end-to-end: from learning how to build, securing capital, and helping them solve their accommodation challenges so they can focus on uncovering world-changing science. While this is Wilbe’s first physical lab for multiple occupiers, it builds on years of hands-on experience designing, fitting out and operating laboratory spaces for early-stage science companies across the UK and Europe. The White City Place facility, developed by asset manager Stanhope, is located within The WestWorks building. It will support 10–15 companies and up to 80 people, across fully fitted wet labs, offices and meeting rooms. Designed by and for scientist founders, Wilbe’s space offers ready-to-use, flexible infrastructure for companies from pre-seed to Series B. Laboratories are fully operational from day one, allowing teams to begin experimental work immediately rather than losing time to fit-outs or procurement. With Imperial College London, NHS trusts and an established biotech and deep-tech cluster embedded in the district, founders benefit from daily proximity to collaborators, talent and early customers - the kind of ecosystem where scientific ideas compound faster because the people advancing them work side by side. Wilbe plans to expand into additional UK and international hubs, including Zurich, Berlin, San Francisco and Austin, with a second London site expected to focus on robotics. Ale Maiano, co-founder and CEO of Wilbe, said: “For years, we helped scientists raise capital and build companies, only to watch them hit the same wall: there was nowhere exciting to go once they left academia. Wilbe Labs exists to remove that friction and institutionalised mindset. It’s not about real estate, it’s about giving scientist founders the infrastructure they need, when they need it and to help them move with speed. If we want more world-class science companies to be built here, we have to make it easier for scientists to get building and to perform beyond what is expected.”

A French quantum computing startup co-founded by a Nobel Prize winner is going public via a SPAC (Special Purpose Acquisition Company), with a $2bn valuation. Pasqal is merging with SPAC vehicle Bleichroeder Acquisition Corp II, with the deal expected to close in the second half of 2026, with the new entity to list on the US Nasdaq stock market. The deal values Pasqal at a $2bn pre-money valuation. The deal marks the latest in several quantum startups going public via a SPAC, as the alternative route for startups to go public gathers momentum. The deal could add more than $600m to Pasqal's coffers, details of the deal, which also cites a planned dual European listing on Euronext, show. Wasiq Bokhari, CEO Pasqal, said: “Pasqal brings a combination of some of the world’s leading neutral atom quantum computing technology, deep customer traction, commercial scaling and solid sovereign support.    “This funding gives us the fuel to further cement our leadership in the quantum computing industry as a global shareholder-focused French company.”  Michel Combes and Andrew Gundlach, co-sponsors of Bleichroeder Acquisition Corp II, said: “Pasqal has already deployed quantum computers globally and is delivering real-world capability today.  "We believe this partnership provides the capital and platform to accelerate Pasqal’s growth as a global leader in neutral atom quantum computing." Paris-headquartered Pasqal, which employs 275 people, is a full-stack quantum computing company.   Pasqal constructs quantum processors using ordered neutral atoms in 2D and 3D arrays, enabling practical quantum advantages for its customers and addressing real-world problems, it says. The 2019-founded startup is backed by Temasek, the European Innovation Council (EIC) Fund and LG Electronics. It was co-founded by Alain Aspect, who won the Nobel Prize in Physics in 2022. Other recent SPAC quantum deals include Xanadu Quantum Technologies and IQM.

In 2025, European tech investment reached €72 billion, making it the second-strongest year of the past three. Sweden raised €4.1 billion, ranking fifth among European countries by total funding. Investment in Sweden was concentrated in capital-intensive sectors, with a limited number of large transactions accounting for a significant share of total funding. Hardware and energy attracted the highest levels of capital, reflecting strong activity in data infrastructure, power systems, and clean energy technologies, and highlighting Sweden’s role in industrial and sustainability-focused innovation. Software and health technology formed a second tier of activity, supported by a steady stream of mid-sized venture and growth rounds. Software funding spanned digital platforms, enterprise tools, and product development, while healthtech investment continued to support advances in medical technology and digital healthcare. Transportation technologies linked to electric mobility and logistics also attracted meaningful capital, reinforcing the country’s focus on industrial innovation. Meanwhile, sectors such as fintech and legal technology remained active but comparatively smaller in scale. Emerging fields, including artificial intelligence, quantum technologies, and cleantech, recorded consistent early- and mid-stage funding, signalling growing investor interest despite more limited capital deployment relative to the leading sectors (for more detailed analyses of the European technology ecosystem, check out Tech.eu’s annual report: European Tech 2025-The Big Picture). Here are the 10 companies that raised the most in 2025. Amount raised in 2025: €1.05B EcoDataCenter is a Swedish digital infrastructure company that designs, builds, and operates sustainable data centers for cloud computing, high-performance computing (HPC), and artificial intelligence workloads. The company focuses on combining high-performance infrastructure with renewable energy and energy-efficient design, including advanced cooling systems and circular energy solutions. Its facilities in Sweden support large-scale compute operations for enterprises and technology companies while aiming to reduce the environmental impact of data center operations. In 2025, EcoDataCenter secured €1.05 billion over two financing rounds to expand its Falun and Borlänge campuses, strengthening sustainable high-performance infrastructure for AI and cloud. Amount raised in 2025: €500M Elvy is an energy technology company that provides integrated home energy solutions through a subscription model. The company installs and operates systems including solar panels, heat pumps, and battery storage, offering homeowners a fixed monthly energy plan that covers installation, maintenance, and system management. By combining hardware with software-driven optimisation, Elvy aims to reduce household energy costs, increase energy self-sufficiency, and simplify the adoption of renewable energy technologies. Elvy secured a €500 million financing package in 2025 to fund home energy packages offered through a monthly subscription model. Amount raised in 2025: €470M Lovable is an AI software company that develops a platform for building websites and applications using natural language. Founded in 2023 by Anton Osika and Fabian Hedin, the company enables users to generate full-stack software by describing what they want to create, with AI producing the underlying code, backend, and deployment setup. The platform is designed to simplify software development and help individuals, startups, and teams rapidly prototype and launch digital products. Lovable raised approximately €470 million across multiple funding rounds to scale its AI-powered no-code platform, expand product capabilities, accelerate growth, and drive broader adoption of its software-building tools for non-developers. Amount raised in 2025: $260M Neko Health is a health-technology company developing preventive healthcare solutions using advanced sensors, AI, and data analytics. Founded in 2018, the company offers non-invasive full-body health scans that collect millions of data points to assess skin, cardiovascular, and metabolic health. Its platform combines scanning technology, blood testing, and doctor consultations to detect early signs of disease and help shift healthcare toward prevention and early diagnosis. In 2025, Neko Health raised $260 million in Series B funding for preventative health scanning tech. Amount raised in 2025: €200M Legora is a legal technology company that develops AI-powered software designed to support lawyers and legal teams. The company provides a collaborative AI workspace that helps legal professionals review documents, conduct research, draft contracts, and manage complex legal workflows more efficiently. Its platform integrates with existing tools and legal data sources, enabling law firms and in-house teams to automate routine tasks while improving the speed and accuracy of legal work. In 2025, Legora raised €200 million over two rounds to accelerate product development, scale operations, and deepen its presence in core markets. Amount raised in 2025: $200M Polestar is an electric vehicle manufacturer focused on premium performance cars powered by battery-electric technology. The company designs, develops, and sells electric vehicles that combine Scandinavian design, advanced software, and sustainable materials. Headquartered in Sweden, Polestar operates globally and aims to accelerate the transition to sustainable mobility through innovative EV products and digital-first sales models. Polestar secured $200 million in 2025 to support working capital needs and general corporate purposes. Amount raised in 2025: €170M Froda is a fintech company that provides digital financing solutions for small and medium-sized businesses. Founded in 2015, the company uses data-driven technology and machine learning to offer fast, fully digital business loans and embedded financing services through partner platforms. Froda’s platform enables entrepreneurs to access capital quickly and on transparent terms, with the goal of improving access to financing for SMEs across Europe. Froda raises €170 million in 2025 over two rounds, to fuel European expansion. Amount raised in 2025: €150M Aira is a clean energy technology company that provides integrated home energy solutions designed to reduce household emissions and energy costs. The company installs and operates systems centred on heat pumps, alongside solar panels, batteries, and smart energy management software. Aira’s platform combines hardware, installation, and monitoring to help households transition from gas-based heating to more efficient electric systems across Europe. In 2025, Aira secured €150 million to accelerate its mission to take Europe off gas. Amount raised in 2025: €108M Qvantum is an energy technology company that develops and manufactures heat pumps and integrated heating and cooling systems designed for sustainable buildings and urban energy networks. The company combines hardware and software to deliver energy-efficient solutions that help decarbonise heating and cooling in homes, apartment buildings, and cities. Qvantum’s systems are designed to integrate with modern district heating networks and support the transition to low-carbon energy infrastructure. In 2025, Qvantum raised €108 million to expand production and grow across Europe. Amount raised in 2025: $100M Einride is a technology company that develops digital, electric, and autonomous solutions for road transport. Founded in 2016, the company provides an end-to-end platform that combines electric and autonomous trucks, charging infrastructure, and AI-driven logistics software to help businesses move goods more efficiently and reduce emissions. Einride’s technology is designed to accelerate the transition from diesel-based freight to sustainable, data-driven transportation systems In 2025, Einride raised $100 million to support the expansion of its Saga platform, accelerate autonomous vehicle deployments, and fund international growth.

UniverCell, a European manufacturer of high-performance lithium-ion battery cells and electrodes, has raised a €30 million Series B financing round.  The round was co-led by the DeepTech & Climate Fonds (DTCF), IKA and WIKA, with strong support from the European Innovation Council (EIC) Fund.   Founded in 2019 in Kiel, Germany, UniverCell has grown into an industrial-scale battery manufacturer with more than 82 employees. The company operates a gigafactory in Northern Germany with production capacity ready to scale beyond 1.5 GWh, focusing on custom-made lithium-ion cells and electrodes for high-performance special applications, including satellites and space systems, and critical care medical devices.    UniverCell’s competitive advantage lies in its deep mastery of industrial production processes, particularly in electrode manufacturing and cell assembly—including 21700 cylindrical cells with a tabless design, lightweight aluminium housings, and process-stable formation—the central performance driver of lithium-ion batteries. All anodes and cathodes are developed and produced in-house, enabling high reproducibility, low scrap rates, and fast changeover times for customer-specific projects. “At the heart of every high-performance battery is a production process you truly control,” said Marius Strack, co-founder of UniverCell. “Our focus has always been on industrial execution and scalable manufacturing in Europe.”   A key technological differentiator is UniverCell’s industrial dry-coating process for electrodes. Compared to conventional wet coating methods, dry coating significantly reduces energy consumption, chemical usage, and CO₂ emissions, while improving electrode microstructure and overall cell performance in terms of energy density, charging capability, and cycle life.   “Dry coating allows us to combine performance, cost efficiency, and sustainability at an industrial scale,” said Dr Stefan Permien, co-founder of UniverCell. “This is increasingly critical as regulatory and environmental requirements continue to rise.” In strategic collaboration with IKA, a leading manufacturer of innovative process technology, the company is conducting a comprehensive development program in the field of dry coating, encompassing further development, piloting, and large-scale series production.   “We are impressed with UniverCells' entrepreneurial journey over the last few years. Stefan and Marius have continuously grown the business through collaborations with industrial players, and they built substantial knowledge and relationships over the years. Now, we are looking forward to supporting their next step of business development for assembling their proprietary cells,” said Dr Elisabeth Schrey, Venture Partner at DTCF. “The European Battery sector is in a critical situation with pressure from Chinese JVs. At the same time electrification in high performance applications shows a promising opportunity to create a local champion and secure independent supply chains.”   Svetoslava Georgieva, Chair of the EIC Fund Board, said: “UniverCell represents exactly the kind of European deep-tech champion the EIC Fund was created to support. The company combines strong technological differentiation with clear industrial relevance in one of Europe’s most strategic value chains. The Company has made impressive progress in translating advanced battery technology into commercial traction.”   The new capital will be used to scale production capacity, further advance UniverCell’s proprietary electrode and cell technologies, and strengthen competitive, sustainable battery cell manufacturing in Europe.

Vilnius-based first-check VC fund FIRSTPICK has launched a new €25 million fund focused on early-stage investments.  The aim is to support Baltic founders who don’t fit the typical VC mold. No FAANG background or Ivy League degree needed.  In a startup ecosystem where half of the founders are starting their first company, this approach is about finding and supporting underpriced talent, giving local teams a real shot before the rest of the market catches on. Instead of relying on recognisable CVs or previous high-profile experience, FIRSTPICK will back people whose grit and ideas stand out well before the industry takes notice. “It’s not so different from the fairy godmother who knew Cinderella before the ball,” says Andra Bagdonaitė, a partner at FIRSTPICK. “Everyone wants to back success once it’s visible and on the biggest stage, but we prefer to meet founders while they’re still hustling below the radar. It’s about recognising the real work and character behind the scenes.” Over the years, the fund has built a record of finding potential outside what the mainstream expects. One example is their early investment in Emile Radyte, who founded Samphire Neuroscience in 2023. Samphire offers science-backed support for period pain, low mood, and brain fog. When FIRSTPICK invested, the product was still in the development stage and the risk was high. Today, Samphire is selling products with thousands of clients in Europe and the US. The company has also recently raised a $5 million seed round led by Inventure. Along similar lines, Copla is a cybersecurity compliance company led by a proven team and serial entrepreneur Aurimas Bakas. But when Copla was first building its product, the idea was still very early and few investors paid attention. FIRSTPICK became their first investor in their €650,000 pre-seed round, supporting their thesis before most others were ready. Copla has since closed a €6 million Series A round. FIRSTPICK’s new fund will focus on the earliest stages of new startups throughout the Baltics, supporting teams from inception and pre-seed. Backed by local entrepreneurs, angels, and founders of companies like Tesonet, Oberlo, and Kilo , the fund will target high-potential areas in AI-first software.  This is the second early-stage fund from FIRSTPICK. Their first, a €20 million fund, was launched in 2022. The fund is also backed by Lithuania’s Ministry of Economy and Innovation and the Lithuanian state-financed ILTE fund. “We are continuing our collaboration with FirstPick, having witnessed their strong ability to professionally select and nurture early-stage companies,” says Tadas Gudaitis, Member of the Board at ILTE and Head of Business Development unit. “As a strategic investor with a €9 million commitment, our role is not only to provide capital, but also to encourage the involvement of private investors. We believe that this partnership will help ensure a consistent funding pipeline for high-growth-potential startups — from acceleration to later stages of development — and will strengthen Lithuania’s innovation ecosystem in the long term.” Ultimately, FIRSTPICK’s aim is to help the Baltic tech sector take a bigger role in boosting the region’s economic future, starting with overlooked founders. “We see our investments as the start of a wider impact,” says Dmitrij Sosunov, managing partner at FIRSTPICK. “When the Baltic tech sector grows, the entire economy becomes stronger. Our goal is to help the best people kickstart their ideas right here, and build resilient businesses that benefit the whole region.”

Paris is set to host the 10th-anniversary edition of VivaTech from June 17 to 20, 2026. Since its launch in 2016 by Publicis Groupe and Les Échos-Le Parisien Groupe, VivaTech has cemented its position as one of Europe’s largest startup events and tech event, drawing disruptive minds and global leaders. This year, it will welcome an even larger audience in a new, expanded format within Hall 7 at Paris Expo Porte de Versailles, including a spectacular new 2,000-seat main stage. With Germany as the Country of the Year, the 2026 edition promises to be the biggest yet, building on the success of 2025 which saw 180,000 attendees and over 640,000 business connections. The Startup Challenges: Your Golden Ticket to Global Scale The core of the VivaTech experience is the Startup Challenges, an open innovation laboratory designed to connect startups with C-level executives, global investors, and corporate giants. By participating, founders gain direct collaboration on concrete industry problems, unrivaled networking with over 3,600 investors, global visibility in front of key players and media, and crucial market validation that often leads to long-term partnerships or funding rounds. The 2026 Challenges are structured around five strategic pillars, inviting innovators to lead the shifts defining the future: Building the Future of Cloud and Digital Infrastructure: Focusing on robust, energy-efficient, and decentralized digital sovereignty and security. Driving Sustainable and Energy-Efficient Innovation: Highlighting startups in decarbonization, circular economy, and green energy to accelerate a regenerative future. Accelerating AI-Driven Transformation: Seeking innovations that use AI to boost productivity, reinvent customer experiences, and solve societal problems. Empowering the Next Generation of Women Founders: The Female Founder Award is back to close the funding gap and provide maximum visibility to women-led startups. Unlocking Innovation Potential Across Africa: The AfricaTech Award will continue to showcase the vitality of African innovation across sectors like Fintech, AgTech, and HealthTech. Previous challenge winners have secured massive partnerships and funding, proving that a single application can be the launchpad for global success. Don’t miss your chance to define the next decade of technology. Apply today for the VivaTech 2026 Startup Challenges! Key Details: Event: VivaTech 2026 (10th Anniversary) Dates: 17-20 June 2026 Location: Paris Expo Porte de Versailles

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A total of 296 deals were recorded, including 11 rounds above €100 million, with Nscale’s €1.18 billion debt financing standing as the month’s largest transaction.Click to read the rest of the news.

Austrian deeptech startup fibionic has closed a €3 million seed financing round led by Redstone together with Euregio+, Caesar, and Leap435, with additional support from several angel investors. Lightweight materials are widely regarded as a key technology across industries, including sports equipment, UAVs, robotics, industrial applications, and mobility. However, manufacturing processes, material efficiency, and automation in composite production often remain inefficient. fibionic addresses this challenge with its patented technology, “fibionic fiber placement” (FFP), a nature-inspired approach to precise fiber placement. Based on bionic principles, the technology aligns fibers along actual load paths, drawing inspiration from natural structures such as dragonfly wings. According to the company, FFP enables highly efficient and sustainable production with cycle times of up to one minute per component, establishing a new benchmark for process optimisation in composite manufacturing. The technology enables the production of high-performance, stable components while minimising material usage. Through this approach, fibionic aims to make lightweight engineering more economical, sustainable, and suitable for series production across industries, including automotive, sporting goods, aerospace, robotics, and defence. With fibionic, we are taking high-performance lightweight engineering to the next level. We enable the fast, sustainable and cost-efficient production of extremely high-performing, ultra-light products, said Elias Hirschbichler, co-founder at fibionic. In partnership with the Italian bicycle saddle manufacturer Selle Italia, the company has begun producing products at scale using the FFP process to optimise weight, stability, and material efficiency. According to fibionic, the technology can reduce material use by up to 60% and lower product weight by up to 50%. With the new funding, fibionic plans to expand its industrial processes and further develop its proprietary technology platform. The company also plans to grow its engineering and business development teams, advance pilot projects to full-scale production, and further develop its ecosystem across simulation, equipment, materials, licensing, and software tools.