It's hard to believe that this time last year, I was sitting in a shopping mall (waiting for a flight),  reading the  Draghi report, a European Union report about the future of European competitiveness authored by Mario Draghi, former Italian prime minister and president of the European Central Bank. The nearly 400-page report, a year in the making, featured over 170 recommendations, citing chronic underinvestment, both public and private, a talent drain, and excessive overregulation and bureaucracy that block startup growth.  "USA innovates, China replicates, the EU regulates" is Europe's badge of shame.  Now, just one year after the Draghi report, EU–INC is calling on policymakers to match that ambition with action. And we at Tech.eu, are in complete support.  An ambitious plan for transformative change by our startup ecosystem Backed by over 16,000 founders, CEOs and investors — including leaders from DeepL, GetYourGuide, Index Ventures, Mistral, Revolut, Stripe, Supercell and Wise — EU–INC is urging the European Commission and Member States to deliver a bold, unified legal framework that allows startups to launch, raise capital, attract talent and scale seamlessly across borders. At the heart of this effort is the proposed '28th regime', a new EU-wide legal entity. While the Commission is expected to publish its proposal by Q1 2026, early feedback from the startup community warns that current drafts risk delivering only superficial reform.  Check out our plain language guide to the 28th Regime. Four bold reforms to build a founder-first 28th Regime EU–INC has outlined four priorities critical to delivering a founder-first 28th regime: Establish a new EU-level corporate form, not a patchwork of national 28th regime variants: A single, EU-wide company structure with uniform rules on governance, share capital and maintenance, enabling truly standardised investment across all Member States.  Launch a digital registry & dashboard (EU-REGISTRY & EU-DASHBOARD): A fully online incorporation process and management portal at the European level, designed for 48-hour setup and seamless third-party integration. Provide a turnkey investment tool (EU-FAST): An open-source, standardised instrument inspired by SAFEs and BSA AIRs, streamlining early-stage funding so founders can send a single, investor-ready document worldwide. Roll out a pan-European ESOP framework (EU-ESOP): A unified approach to employee stock options, defining eligible share types, safe-harbour valuation and benefit treatment, to attract and retain top talent across borders. Andreas Klinger, Founding Partner of Prototype and one of the founders of EU–INC, commented:  "We need the next generation of startups to reshape our economy. But startups need scale. Large pools of early investors, competitive fast financing rounds, the best possible angel and supporters. No country in Europe alone is large enough to provide a competitive scale against the US. This is a European problem, requiring a pan-European solution." According to  Arthur Mensch, co-founder and CEO of Mistral: "Europe is making progress on the Draghi report – but that ambition will only count if the European Commission and national governments match it. Member States shall urge the Commission to champion an ambitious yet simple "28th regime", and allow companies to operate under a single set of rules, or we risk losing another generation of European innovators."  According to Henrik Landgren, Co-Founder and CPTO of Gilion, Europe's competitive challenge is rooted in how we connect available capital with companies that need it.  "Europe faces an €800 billion annual investment gap despite having more capital available than the US — the problem is our financial markets are less efficient at deploying it.  Despite considerable EU rhetoric about ecosystem investment and improvement, we still see large funding projects without clear deadlines and application processes that take years to complete." Landgen cautions that Draghi's warning that without coordinated industrial policy and rapid decision-making, Europe would face 'slow agony' in keeping pace with the US and China, appears to be coming true: "Many European champions like Klarna continue to choose New York over European exchanges for their IPOs, part of a broader pattern of companies looking across the pond for the speed and efficiency our own capital markets struggle to provide.  Without a more efficient conductor between abundant capital and promising companies, we risk watching European startups migrate to US markets while European capital grows increasingly stale – trapped in systems where prohibitive due diligence costs make funding decisions uneconomical for all but the largest transactions."   Joe Heneghan, CEO of Revolut Bank UAB, adds:  "Fragmentation is Europe's biggest drag. The consultation on the '28th regime' is the best way to fix it. If governments across the Union back it, the benefits will extend far beyond startups – to jobs, investment, and Europe's place in the global economy." Unlocking Europe's capital potential Investors and VCs support the 28th Regime (EU–INC) because it tackles Europe's legal fragmentation and makes scaling startups across borders much easier: Single EU-wide entity: one harmonised rulebook instead of 27 different national company laws. Lower costs and speed: digital incorporation in days, avoiding notaries and paperwork, saving 30–40 per cent in legal/admin costs. Standardised docs and stock options: harmonised investment agreements and equity schemes, making cross-border deals smoother. Legal certainty: clear governance rules and dedicated English-language courts reduce due diligence friction. Unlocks capital: more predictable structures attract larger VC flows, help retain unicorns in Europe, and boost competitiveness vs. the US.  Europe has the talent, innovation, and proven ability to build and scale world-changing companies. And, as policymakers stall, Europe’s investment ecosystem — and its global allies — are taking matters into their own hands. For example, just this year:  Cherry Ventures launched an open letter to founders in Europe, launching the Cherry V fund and signalling a commitment to building the first trillion-dollar company in Europe. Atlantic Vantage Point (AVP) launched a late-stage growth fund targeting €1.5 billion. Sofinnova Partners raised a new life sciences–focused fund at around €1.2 billion, earmarked for early to growth-stage investments in healthtech and climate tech. Cathay Innovation Fund III closed its largest-ever fund at $1 billion focused on AI startups across sectors like digital health, fintech, energy, and mobility. Climatetech VC 2150 raised almost €200 million so far for Fund II for research-led identification of solutions to the greatest challenges of the urban environment.  The Norrsken Foundation committed €300 million to deliver "AI for good" across Europe—supporting startups focused on climate, health, education, and food. Cambridge Innovation Capital (CIC) launched £100 million funds for deeptech life sciences (February) and University of Cambridge spinouts We also saw the launch of Project Europe in March with its aim to stop Europe's tech "brain drain" and prove the continent can produce world-class, 10,000-person companies, and EWOR in April, a radically selective founder fellowship crafted and operated by unicorn-builders working to provide early-stage founders with intensely hands-on support and capital to build world-class companies.  And, just this month, 0TO9 emerged from stealth with its plan to build 1,000 fintechs by 2045. According to Tord Topsholm, CEO of fintech venture builder and investor 0TO9 "Draghi was right to pinpoint our struggle translating innovation into commercialisation. Entrepreneurs are the true drivers of innovation across every sector, so we echo Draghi's call for greater investment to boost European productivity to enable us to compete with global heavyweights like the US and China. If entrepreneurs win, we all win." However, Topsholm has a slightly different take from the rallying cry to cut European red tape, contending that the issue of our lack of competitiveness isn't that Europe is over-regulated per se, but that we've made the process of compliance unnecessarily complex and fragmented, which stifles innovation and slows down growth.  He asserts; "Rather than advocating for deregulation, which would dismantle consumer protections, Europe must build better infrastructure to help entrepreneurs navigate the EU's regulatory maze more efficiently and effectively, and foster stronger cross-border collaboration to allow innovators to start and scale their companies if we want to compete globally." Further, Dr Jano Costard, Head of Challenges at SPRIND contends that we also need a greater focus on how we do funding, as changing geopolitical and technical landscapes mean that prolonged applications for grants see projects outdated before they begin: "Innovation can better flourish without prolonged delay and without fearing failure. At SPRIND, it takes 2 weeks from the deadline for application to selecting teams and having signed their funding contracts." Now we need Europe to do it's part. The good news is that positive momentum is building. On August 29, 2025, German Chancellor Friedrich Merz and French President Emmanuel Macron confirmed their support for a truly pan-European startup legal entity.  Act now to make Europe the best place to start and scale a business The public consultation closes on 30 September, with new laws expected in early 2026. EU–INC is calling on Europe's policymakers, founders, startup teams, investors, and ecosystem leaders to take action now.  Your feedback helps shape the 28th Regime and push for a clear, simple framework that makes Europe the best place to start, fund, and grow a business. Visit eu-inc.org/cta to make your voice heard.

Frankfurt–based Meet5, a socialising app for people over 40, has raised €8 million in Series A funding from European venture capital firm Peak. With this investment, the company is doubling its team to 80 people, expanding across the Benelux, France, and the US, and giving members richer, more personalised content and smarter recommendations. A WHO study published in June 2025 shows that one in six people suffers from loneliness. In a world increasingly dominated by AI and digital content, Meet5 takes a different approach by focusing on real-life social experiences. Targeting one of the largest yet underserved markets, people over 40, the platform empowers this active and loyal demographic to expand their social circles and build lasting friendships. Lukas Reinhardt, founder and CEO of Meet5, explains: Our community is looking for meaningful encounters that leave a lasting impression. We connect people who want to try new things, build friendships, and actively shape their lives. With this Series A funding, we’re expanding into international markets and further developing our feed intelligence to make the user experience more personalised and help like-minded people connect more easily. With 2.5 million members, more than 40,000 activities each month, and around 300,000 participants, the community is thriving across Europe. From hikes and dinners to cultural events and travel, members turn online discovery into real-world experiences. Premium memberships further simplify staying connected. With its scale, engaged user base, and recurring revenue model, Meet5 is uniquely positioned to lead the growing global market for social connections. David Zwagemaker, partner at Peak, commented: Lukas, Kai, and the Meet5 team have impressively demonstrated how to build an active, loyal community. We've looked at various companies building social platforms for IRL activities, and Meet5's unique focus on building a community for the 40+ population stood out for us - and for their members as well! Meet5 has enormous international growth potential that fosters real human connections in an increasingly digital world. The funding will be used to expand the team, drive international growth, and improve the app’s intelligence to deliver more tailored activities and connections.

OPUS, the community dedicated to supporting the next generation of entrepreneurs, has acquired embarc, a community-based business built by founders to support people getting into entrepreneurship. This strategic move underscores both communities’ shared mission to empower founders across Europe, the Middle East, and Africa (EMEA) in a new era of entrepreneurship. Embarc was founded in 2022, with the backing of Notion Capital, with the vision of building a collaborative and supportive environment for people starting early-stage companies or working in scaling businesses. It has since become a trusted hub for peer-to-peer learning, networking, and community-driven growth. In June 2025, OPUS announced a $2 million seed round backed by high-profile founders and investors, and is now unveiling its first acquisition. By combining forces with embarc, OPUS will integrate its vibrant community and programming into a broader ecosystem, enhancing the resources available to new and aspiring founders navigating today’s fast-changing business landscape. Ken Donald, Managing Director at OPUS, shared: At OPUS, we believe that founders deserve not just capital, but community, knowledge and expertise to thrive. embarc’s founder-first DNA and deep commitment to helping talented people get into entrepreneurship by building authentic networks perfectly aligns with our mission. Together, we can scale our impact for founders significantly. The acquisition reflects OPUS’s strategy of partnering with organisations that embody its core values: collaboration, innovation and long-term support for entrepreneurial talent. By bringing embarc into the OPUS ecosystem, founders will benefit from enhanced programming, expanded reach, and a broader set of tools designed to unlock growth and resilience. Chris Tottman, Founding GP of Notion Capital and Founding Investor of embarc, commented: When Arya, Daniel & Matt launched embarc it was one of the easiest investment decisions we made. It was clear that for the entrepreneurial community to win, we needed to make the jump from corporate to founding much less daunting for the most talented people. Joining forces with OPUS is a natural next step for embarc to unlock more value for the community we serve. The OPUS family are building with super impressive intent – they really want to redefine the support ecosystem for early-stage founders, and we want to be doing it alongside them. Arya Tandon, Founder of embarc, added: embarc has always stood for more open ecosystems – encouraging people to build the confidence, network and knowledge they need to jump into founding.I'm very excited embarc is joining the OPUS family, bringing huge firepower to the mission I started a couple of years ago – to bring together exceptional future founders via incredible events. The combined platform will launch new initiatives in the coming months, including expanded founder events, digital programming, and tailored support services. Together, OPUS and embarc will continue to champion a new era of founders, welcoming them into the community. We launched OPUS to back the founders of tomorrow. Having experienced the journey of starting businesses, I know how transformative relationships are.Alongside relationships, self-belief is a critical component in the initial stages of starting a business, and our media activities are a vehicle for us to help inspire, encourage and educate the new era of founders, concluded Sam Tidswell-Norrish, Founder & Chair of OPUS.

Barcelona-based Remuner, the AI-powered platform for modern sales compensation, has closed a $6.5 million seed round. Remuner is a sales compensation platform that helps companies align goals and incentives across teams by fully automating variable pay. With AI and data integrated into every stage, it drives smarter decisions, higher performance, and stronger motivation and retention of top commercial talent. Just 18 months after its pre-seed round, Remuner has established itself as a strategic solution for organisations seeking to maximise the impact of their incentive plans. The platform allows companies to design and manage complex variable compensation schemes with full automation, no technical dependency, and AI-powered insights to boost performance and motivation. Sergio González, CEO and co-founder of Remuner, shared: “Incentives are one of the most powerful growth tools a company has—yet in most cases they’re poorly designed, misunderstood, and manually managed. We’ve built the operating system for variable compensation: from plan design to payout, fully automated, connected to the customer core systems, and focused on helping every team member understand exactly how to increase their earnings. Remuner’s value proposition is built on three core pillars: No-code incentive designer – build and adapt plans without relying on IT or Data teams. Automation engine – remove manual work from commissions, validations, and reporting, and AI Compensation Manager – give reps personalised guidance to hit their goals and maximise payouts. This unique combination has already earned Remuner the trust of major companies across Europe in sectors such as pharmaceuticals, telecom, industry, real estate, and digital services. Clients include Europastry, Fluidra, Redpin, MasOrange, Alfasigma, Theydo and CoverManager. The investment was led by Seaya, with significant participation from Pear VC and continued backing from most of Remuner’s existing investors. As part of the round, Beatriz González (Seaya) and Pepe Agell (Pear VC) join the company’s board to support the founding team in this next stage of growth. Beatriz González, founding partner at Seaya, commented: Remuner combines deep automation with real commercial intelligence. We see a strong team with global ambition, laser focused on tangible value, and excellent leadership and execution. We’re confident they can lead this category across Europe and beyond. Pepe Agell, Partner at Pear VC, added: I’ve personally felt the pain of managing commissions and sales goals with tools that weren’t built for it. Remuner solves that with a modern, flexible, AI-native product. The team’s growth and traction made it clear we wanted to double down. Already active in most major European economies, Remuner will use the funding to accelerate its international expansion, invest further in product development, especially in AI-powered capabilities, and strengthen its position as the reference platform for sales compensation in Europe.

Lithuanian startup Kashimi, which develops alternative payment infrastructure for regulated and licensed financial institutions globally, has secured a pre-seed investment of $1.36 million. The new funding will back expansion in the European and UK markets and advance entry into the US, building on steps initiated at the end of 2024. Kashimi is a fintech infrastructure provider offering open banking-powered, account-to-account (A2A) payment solutions. Its unified API connects institutions to hundreds of banks instantly, enabling secure, real-time A2A payments with built-in regulatory compliance (e.g., PSD2) and seamless scalability across markets. Designed for financial institutions, fintechs, PSPs, wallets, remittance platforms, FX services, and treasuries, Kashimi enables rapid deployment, launching Pay by Bank solutions in weeks rather than months, while lowering operational costs and improving conversion with smart UX tools and enterprise-grade reliability. Benas Pavlauskas, Co-founder and CEO of Kashimi, explains: Alternative payment methods, which started to appear in Europe and the UK following the introduction and implementation of Open Banking regulations seven years ago, are finally gaining momentum. Customers are increasingly accustomed to these solutions, and it is the right time for various financial institutions - banks, electronic money institutions, or others - to expand their merchant offerings. The US is introducing a similar concept and actively promoting the development. The round was co-led by venture capital funds Coinvest Capital and US-based Impellent Ventures, joined by Plug and Play Tech Center and international business angels. Coinvest Capital’s share in the investment amounts to $749,985. Impellent Ventures expressed excitement about partnering with the Kashimi team to advance frontier tech in open banking across Europe and the US. Phil Beauregard, Managing General Partner at Impellent Ventures, shared: We think the crew is comprised of some of the most innovative and experienced thinkers and tinkerers in the space - and we can’t wait to see what they cook up in order to create value for their customers and stakeholders alike. Combined with being our first foray with Coinvest Capital, we couldn’t be more amped up for the future of this one. Viktorija Trimbel, Managing Director of Coinvest Capital, added: Alternative payment methods are not a niche anymore. Merchants are eager to adopt new payment methods, and customers want to control their spending while feeling secure. For payment service providers, alternative payments are the next frontier; however, success favors solution providers who demonstrate competence, a broad vision, and strong ambition. Kashimi payment initiation infrastructure stands out for its convenience and completeness. This segment is gaining momentum in the US, and Kashimi has a great opportunity to ride the wave of growth. We are happy to have experienced US investors joining the round Kashimi has been selected to join the six-week GOAL program run by its investor, Plug and Play Tech Center, giving the startup a key opportunity to gain valuable experience in the US market. Kashimi’s cutting-edge payment infrastructure showcases how Lithuanian technology can compete on a global scale, Povilas Žinys, Director at Plug and Play Lithuania, noted: We see tremendous potential for their solution in international markets and are proud to support their journey through Plug and Play’s global network. We also expect the GOAL program to help Kashimi achieve its global expansion goals. Operating for less than a year, Kashimi has built a team of 10 seasoned IT engineers specialising in open banking and already started integrations with its first clients.

Grenoble-based Scintil Photonics, a company developing integrated Photonic System-on-Chip (PSoC) solutions for AI infrastructure, has closed a $58 million Series B round. The funding will drive global hiring, accelerate production, and expand its international footprint as it launches the industry’s first single-chip DWDM light engine. Built on its proprietary SHIP™ (Scintil Heterogeneous Integration Photonics) process, Scintil’s technology integrates lasers, photodiodes, and modulators onto a single chip, replacing dozens of discrete components to deliver higher performance, efficiency, and density for next-generation co-packaged optics (CPO). Drawing on more than 15 years of research at CEA-Leti, one of Europe’s leading semiconductor institutes, the company has a strong head start in heterogeneous silicon photonics. The Series B funding supports the commercial ramp of LEAF Light™, the industry’s first PSoC DWDM-native light engine, aligned with next-generation co-packaged optics (CPO). DWDM (Dense Wavelength Division Multiplexing)-native means the single-chip device can output many precisely spaced wavelengths, dramatically increasing bandwidth while lowering energy use. By reducing power per bit, LEAF Light™ also helps cut the carbon footprint of AI data centres. Matt Crowley, CEO of Scintil Photonics, shared: This investment marks a pivotal moment for Scintil as we move to full-scale deployment. Our SHIP™ technology enables integrated photonic solutions with the scalability, energy efficiency, and integration density required to power next-generation compute infrastructure. This efficiency not only reduces data centre operating costs but also contributes to lowering the carbon footprint of AI infrastructure. With LEAF Light™ entering high-volume production, we’re expanding from our base in Grenoble into the international markets, including the US, to support the world’s most advanced AI factories. Built on Scintil’s SHIP™ platform, LEAF Light™ enables low-power, high-density optical connectivity, delivering 6.4 Tbps/mm edge bandwidth density today, at roughly one-sixth the power consumption of conventional pluggable solutions. It’s designed for scale-up GPU clusters and emerging AI systems, with reference packaging and integration support to accelerate deployment. The round was led by Yotta Capital Partners and NGP Capital, with strategic participation from NVIDIA and continued backing from global and regional deep tech leaders. Existing investors Supernova Invest, Bpifrance, and Innovacom also joined, alongside prior strategic backers Robert Bosch Venture Capital (RBVC), Applied Ventures, and ITIC-Taiwan, reaffirming their strong confidence in Scintil’s technology platform and market potential. Vincent Deltrieu, Managing Partner at Yotta Capital Partners, said: Scintil exemplifies the kind of innovation leaders we look for, combining advanced manufacturing, deep-tech leadership, and meaningful impact on the energy demands of AI infrastructure. Scintil’s integrated photonics platform is essential to scale the next generation of AI factories. We’re excited to support their global growth as they move to high-volume shipments. Bo Ilsoe, Managing Partner at NGP Capital, added: Integrated photonics is becoming a foundation of all AI infrastructure, and Scintil is turning that future into reality. Their technology delivers the bandwidth density and energy efficiency AI factories require with global scalability. We’re excited to support Scintil as they scale deployments and become a leading player in building the next wave of compute and data infrastructure. The funding will allow Scintil to accelerate hiring and strengthen its US presence while continuing to build from its strategic base in Grenoble. Situated at the centre of Europe’s advanced semiconductor ecosystem, the company benefits from close ties to institutions like CEA-Leti and leading global players in the region, giving it access to top talent and a collaborative innovation environment. Backed by leading investors and trusted by industry pioneers, Scintil is well-positioned to provide the integrated optical technologies required by next-generation AI factories.

Embedded finance provider finmid has expanded its reach to 30 European markets, transforming growth options for over 32 million SMES across the region. finmid has added Bulgaria, Croatia, Estonia, France, Hungary, Ireland, Malta, Romania, Iceland and Switzerland to the list of countries it is serving,  providing a single, easy-to-access service right across the EU and neighbouring countries.  Historically, platforms struggled to offer financing across Europe due to a complex patchwork of local regulations and infrastructure. This created an uneven playing field, where a company's access to capital was determined by its location, not its growth potential. But finmid’s single financial layer for the single market achieves a goal that EU regulators and policymakers have struggled with for decades.  “Europe’s dream of a single market has been held back by a financial system that stops at borders,” said Alexander Talkanitsa, Co-founder of finmid.  “Embedded lending has always had the potential to change that, but the reality was fragmented and slow. With this rollout, any platform can, for the first time, offer capital to its customers everywhere in Europe.” Embedded lending has become a lifeline for small businesses in recent years, with the decline of local banking networks and traditional lenders still relying on outdated credit scoring. Difficulties in securing finance have created a €400 billion financing gap for Europe’s SMEs.  finmid’s integration gives platforms the ability to extend capital to new markets on equal terms, no matter where businesses are based, at the touch of a button.  According to Max Schertel, co-founder of finmid:  “At finmid we’re solving the problems that hold back SME businesses, often small family-run companies, from growing, even when demand for their product is there. I’ve never been prouder than seeing the companies we support able to open new premises or buy essential equipment.  finmid’s embedded finance is not only achieving the key European ambition of a borderless, single financial layer for the single market but delivering for those businesses that create jobs and deliver prosperity.”  Since launch, finmid has extended more than €4 billion in capital offers to European SMEs via partners including Wolt, Glovo (Delivery Hero), Bolt, and more.  Data from its network has shown that platforms offering finmid’s embedded finance can increase Gross Merchandise Value (GMV) by up to 45 per cent and reduce churn by 70 per cent.  However, fewer than one in ten SMEs benefit from embedded lending, but finmid’s technology will make it easier for many more underserved small businesses to increase revenues by giving them access to capital on terms that suit their cashflow. Existing partners Wolt and Glovo are already planning to extend their financing solutions in the newly enabled markets, using finmid’s speed and ease-of-use to open new countries quickly and without friction.  “For us at Wolt, the success of our merchants is at the heart of what we do,” says Anniina Heinonen, Managing Director, Payments at Wolt.  “We’re always looking for new ways to empower them, and access to additional financing has been a clear need across many of our markets. By working with finmid, we can now meet that need and help local businesses across Europe grow without delays.” Lead image: finmid. Photo: uncredited.

Mistral, the French AI company, has bagged a €1.7bn funding round, more than doubling its valuation to around €11.7bn, in a funding round which sees the Dutch chip equipment firm ASML take a major stake in Mistral as part of a strategic partnership. Mistral is seen as a French rival to the US frontier model companies like OpenAI and Anthropic and the funding comes at a time when massive funding rounds in frontier model companies show no signs of abating as companies battle for supremacy. The funding round in Mistral also marks something of a victory for European tech sovereignty, as the EU looks to become less dependent on Silicon Valley. ASML ploughed €1.3bn into the funding round, with other investors in the round including existing investors Nvidia, DST Global, Andreessen Horowitz, Bpifrance, General Catalyst, Index Ventures and Lightspeed. The new valuation of around €11.7 billion more than doubles Mistral’s previous €5.8bn valuation last year during its €600m funding round. The strategic partnership between Mistral and ASML, which now becomes Mistral's biggest shareholder owning 11 per cent, will see Mistral’s AI models leveraged across ASML’s portfolio as well as for research purposes. According to Bloomberg, ASML is the producer of lithography equipment used by semiconductor equipment firms to make chips for products like Apple iPhones. Christophe Fouque, ASML CEO, said: “The collaboration between Mistral AI and ASML aims to generate clear benefits for ASML customers through innovative products and solutions enabled by AI, and will offer potential for joint research to address future opportunities.  “We believe that this strategic partnership with Mistral AI, which goes beyond a traditional vendor-client relationship, is the best way to capture this significant opportunity. We also believe that this collaboration is value-enhancing to Mistral AI.” Arthur Mensch, Mistral CEO, said: “We're back to school! Very proud of our team accomplishments, and honored to partner with ASML in our next phase. We're very excited to push frontier AI capabilities in science and technology, with exciting releases ahead."

If I were thinking of an issue that would get Berliners up in arms, it wouldn't be a bunch of coffee shops. It would be Berlin's rental crisis, cuts to arts and culture, the 3.2 km extension of the Berlin Autobahn at a cost of over €720 million, or the police assaulting people protesting Israel's genocide in Gaza.  LAP Coffee (short for Life Among People), founded in Berlin in 2023, has quickly made waves with its stripped-down, highly automated approach to speciality coffee service, stirring debate across the city's café scene. In less than two years, the company has opened 15 locations in Berlin and four in Munich, and is hiring for its launch soon in Hamburg. Its rapid expansion, backed by venture capital funding, has drawn strong criticism from some journalists and locals. At the heart of the backlash? It's complicated, but it largely boils down to the fact that a couple of VC-backed migrant entrepreneurs built a fast-scaling coffee brand that offers cheaper, higher-quality coffee than you'll find at McDonald's or Starbucks in urban neighbourhoods — and more, and built a community. I spoke to CEO and co-founder Ralph Hage to learn more about the controversy and why LAP fills a gap in Berlin's cafe culture. Confessions of a Melbourne coffee snob Before I get into a deep dive into LAP, I should put my bias upfront and centre. I am from Melbourne, Australia, which means I am a terrible coffee snob. I'm currently drinking homemade cold brew made with a gadget from Japan, accompanied by a dash of milk and large ice blocks. I've lived in Berlin for almost a decade, and when I moved here, I was stunned by the poor local coffee offerings — mostly bakeries selling burnt, bitter coffee from machines alongside sweaty meat and salad rolls and factory-baked pastries and bread housed in glass cabinets full of wasps. God forbid you asked for iced drinks, and you could only pay cash.  There were  — and are — of course plenty of cafés, but they are usually crowded, and many don't open until 10 am or later.   I drink LAP coffee.  LAP is a café community that aims to provide decent coffee at an affordable price on the move. It aims to disrupt the market held by McDonald's McCafe, as well as the aforementioned bakeries and spätis (convenience stores). LAP's microstores target people seeking a to-go coffee, and it's cheap: an espresso costs €1.50, an Americano €2, and a latte €3. Alternative milks and ice are FREE. It also offers speciality drinks flavoured with matcha and yuzu and a selection of health-focused drinks that contain ingredients like collagen, protein, and mushroom extract. It uses coffee roasted by Berlin's 19 grams (I also buy their beans to use at home).  Why two entrepreneurs think Germany deserves better coffee Image: LAP co-founders, Tonalli Arreola and Ralph Hage. LAP was founded by Ralph Hage and Tonalli Arreola in 2022.  Ralph Hage is a seasoned entrepreneur with a background in operations, finance, strategy, and brand development. Prior to LAP Coffee, he founded Yababa, a Berlin-based online grocery delivery startup focused on delivering speciality Turkish and Arabic groceries — otherwise hard to find through mainstream channels — directly to customers.   Previously, he was the VP of Operations & Finance at wefox Group and held senior roles at Omio, Delivery Hero, and Quandoo. He began his career in finance at Standard Chartered Bank before moving into brand management at Red Bull. Co-founder Tonalli Arreola previously worked at Flink as a GTM and Rider Operations, and stints at GM, and head of growth at Lime.  Hage has spent about seven years in Berlin with work experience in the US, Asia, and the Middle East. "For me, coffee is a daily product: consistently high quality, always affordable, consumed multiple times a day with friends and family. It's not only a luxury item. Like wine or olive oil, you can have a range of quality, but there should always be decent quality at a decent price." Like myself, Hage admits, "My expectation when I came here to Berlin was very different from the low-quality bakery coffee I found. Shouldn't standards evolve? That question makes some people uncomfortable." According to Hage. "Germans drink more coffee per capita than anyone in Europe, but mostly at home. Speciality coffee consumption is the lowest in Europe.  So the market is particular: lots of low-quality bakery coffee and only a small niche of high-quality coffee shops." Small shops, big strategy: how LAP scales coffee differently LAP micro-retail spaces are compact, with minimal seating. Branding is a distinctive blue and white. While young professionals characterise LAP customers in their 20s and 30s — mobile, active, lifestyle-focused, the pricing attracts construction workers, police officers, all kinds of people looking to grab a coffee.  When you dig into LAP, you see a circularity of tactical decision-making that benefits other aspects of the business.  According to Hage, supply chain challenges are significant for coffee shops and cafés in Germany. "In the US, companies like Odeko manage logistics for cafés: "Everything from beans to cups to cleaning supplies, ordered from one dashboard. That doesn't exist here. Most independent cafés waste time chasing 20 suppliers instead of focusing on customers." Then there's real estate: big prime locations aren't profitable. And most menus contain too many SKUs.  He explained: "We simplified operations, centralised prep, automated processes, and chose smaller locations. That allows us to deliver quality at affordable prices." According to Hage, the company began with the assumption that high prices are no longer effective.  "People are making less money, inflation is up, and the masses have less disposable income. If you build a €5 cappuccino business, you're targeting a tiny slice of the market. Instead, we aim for volume — everyday consumption at affordable prices. That's why we can survive alongside speciality cafés charging double " One of the main criticisms of LAP is that it's seen as at risk of replacing independent cafés. For example, Philipp Reichel, who runs Isla Coffee in Neukölln, told German media RBB:   "I think that LAP Coffee will become more and more present in the next few years and will displace many stores." However, Hage counteracts: "By driving traffic into neighbourhoods, we also help other cafés on the street. Since we opened on Rosenthaler Platz, three other coffee shops opened on the same street — all doing well, including us. In Südkreuz, more cafés have opened nearby, too. Why? Because we drive traffic. The latte economy we create helps the whole neighbourhood." In an interview with the migrant-focused magazine Berliner, Hage pointed out that "in a city with thousands of cafés — 2,270 in Berlin compared with 1,200 Spätis — LAP's shops account for only 0.5 per cent of the market." But it hasn't stopped the ire of its detractors. The stores are criticised on Google Maps, received aforementioned negative press, and dedicated anti-LAP social media campaigns dig into everything from investors backing dual defence to the lack of seating while another journalist slated a social media video featuring people visiting the Kreuzberg Kotti Fotoautomat because "it is typically occupied by people struggling with active addictions looking for a concealed spot to use drugs."  Hage admits he was shocked by the journalistic backlash to LAP. "Articles were written without ever contacting the company, and he reveals, "And these weren't just false stories — they had repercussions. Our stores were vandalised, our people attacked. I'm from the Middle East, born during war, so I know what rough looks like. But seeing a teammate crying in a corner because of this? That's not normal." Few new coffee giants emerge, which is exactly why investors want LAP LAP Coffee has had two rounds of funding: initially from Roundtable, Origins Fund, HV Capital, FoodLabs, and more recently, New York's Insight Partners — this was, of course, also criticised by its detractors.  But LAP is no cash cow; the early days were brutal, admits Hage. "I burned through my own cash, ran out personally. German banks don't lend to small businesses.  So, I turned to my entrepreneurial friends and people back home. It was more of a community fundraiser. FoodLabs supported us with a convertible. Later, a family office joined the team, followed by additional investors once we achieved product-market fit. We never planned to be a "VC story." We didn't even announce rounds. Deutsche Startups just dug through registers and turned it into a VC story." According to Hage, when it came to VC money, Germany's thirst for coffee, and the economics of LAP appealed from its microstores to digitisation and automation. "We provide smaller, affordable spaces with a focus on product. Once you scale many of those, you have a large customer base. Then you can diversify: put special drinks in cans, sell them in supermarkets. That scalability is what attracts investors." Hage's background in the food and beverage industry has given him a strong network within the sector, but he acknowledges the difficulty of breaking into an established consumer category. "When was the last time you saw a new competitor to Red Bull or Coca-Cola?" he asks. "Or a new global coffee brand? Maybe Blank Street in the US or Luckin in China — but there are very few." And that scarcity, he notes, is precisely what draws investor interest. (Author's note: speaking of Cola, I've been watching Gaza Drinks make a splash at home in Melbourne with interest — and now Germany is home to Palestine Cola. )  Why automation lets LAP pay baristas more, not less What about the tech behind LAP? Well, LAP's coffee-making configuration is something that– you guessed it …  really upsets its detractors.  LAP also distinguishes itself by paying staff fully on the books — a rarity in a sector where it's common for employees to be partly off the record and paid cash in hand, and it's all down to its digitisation, automation and other efficiencies that make it possible to offer baristas higher wages without inflating staff numbers. Hage explained: "We designed equipment with Eversys and Ubermilk. Machines automate grinding, tamping, and milk frothing. That ensures consistency, reduces waste, and saves barista time. Multiply that across 150 drinks, and you save hours of paid labour." "Our baristas earn above market, plus sales-based bonuses. In busy stores, they can make up to €17 an hour. Even in the worst case, it's higher than the average. We also give extra holidays, benefits, and training. Some baristas have grown into area managers. For us, barista work isn't a side job — it's a profession." The LAP model has the potential to be applied to other product categories, such as ice cream, burritos, and bagels. Hage contends that  "any high-frequency consumer product: ice cream, burritos, bagels, is possible." When coffee meets culture: inside LAP's social playbook Image: Daniel Nguyen. One thing that most interests me about LAP is its successful community building. From the beginning, LAP was all about community, admits Hage.  "We even designed our first deck like an Apple keynote — the brand story was personal, from the Mediterranean blue colour to being an immigrant building a community." LAP turns the idea of Ray Oldenburg's third place coffee shops on its head by creating virtual-physical community fueled by a vibrant presence on social media with 27k followers and counting, and partnerships with brands and influencers in sports, music, and fashion.  Think Sol de Janeiro, Highsnobiety, Bumble, Adidas, On Running, and Lululemon. It hosts running clubs, impromptu DJ sessions, pop-up vintage markets, and 'Bring Your Dog' parties. Kanye West turned up at its first store opening block party.  To be clear, the microstores are not coffee shops to linger on couches or conduct Zoom calls — laptops are banned at almost every coffee shop in Berlin anyway — but more of a quick-stop or a meeting place to get things started.  Hage contends: "Community isn't about square meters. It's about moments. We've hosted free music festivals, parties, brand collaborations, and run clubs. Customers who come for a coffee on a Tuesday will come back for those events. Community is the ability to send one message — "come to our event" — and people show up because they feel connected." It's a trend that local Berlin entrepreneurs are further embracing with a new wave of tricked-out spätis, like SUPERSPÄTI, which has a dedicated TikTok page and offers stand-up comedy shows and live MCs, while Gen-Z-founded SPÄTI BOOTH shows a changing of the guard. It makes sense as more and more nightclubs are closing due to the changing interests of younger generations who drink less alcohol.  So what's next for LAP? Digitisation and loyalty Hage contends that its current stamp card program works, "but we want to evolve it through tiers, baskets, and app integration. Technology — both back-of-house and customer-facing — will be crucial for scaling. That's one of my main projects, once I find more time away from current distractions." Ultimately, the backlash against LAP highlights Berliners' uneasy relationship with change. As Hage puts it: "At the end of the day, we're just making coffee more innovative and more fun. Turning that into a critical story is ridiculous." But I, for one, will be looking forward to my next coffee.

Stockholm-based Saltfish, a startup building the video engagement layer for websites and software products, has raised $730,000 in its first round. Its technology enables companies to embed personalised, interactive video experiences into their sites and products, boosting engagement and conversion across the customer journey. The internet is undergoing its biggest transformation in two decades. With LLMs reducing organic traffic, each website visit matters more than ever, yet over half of visitors still drop off within the first 10 seconds. Saltfish addresses this with personal, 1:1 interactive video embedded into websites and software, capturing attention instantly, adapting to each visitor, and guiding them through the funnel. In its first months, the platform has powered hundreds of thousands of experiences for companies such as Bokio, Contrast, and OtterlyAI, delivering double-digit lifts in engagement, activation, and conversion. Co-founder Simon Blackman explained: For the last 20 years, websites and products have been static, one-size-fits-all, forcing the audience to adapt to the content. “In every other interaction in life — whether you’re explaining something to a friend, giving a demo, or making a pitch — you adapt to the person in front of you. We’re bringing that same adaptability to all digital touchpoints with personalised, interactive video, making the web more dynamic, personal, and engaging. The round was led by Antler, with participation from angel investors including Martin Koiva (Klaus), Juha Valvanne (Nosto), and Moaffak Ahmed. Tobias Bengtsdahl, Partner at Antler, commented: The UX of the future will be human and personal,  and that's exactly what Saltfish is making real today. We're super excited to be the first backers of this AI rocketship, led by a stellar founding team with deep engineering experience from Spotify and SeenThis. Saltfish was founded by Simon Blackman, Magnus Friberg, and Henrik Eriksson, a team with expertise in video, AI, and data science. Their track record includes pioneering work in natural language processing and building advanced video streaming tools used by publishers worldwide. The new funding will accelerate the development of Saltfish’s video generation platform and support collaborations with global teams to deliver more engaging and personal digital experiences.

Swedish EcoDataCenter has secured €600 million in debt financing from Deutsche Bank Private Credit and Infrastructure to enable further growth and continue driving progress in advanced digital infrastructure. EcoDataCenter is an operator and European leader in high-performance digital infrastructure, serving the most demanding cloud and AI applications. Founded in 2014, the company designs, builds, and operates state-of-the-art facilities that combine technological excellence with one of the lowest carbon footprints in the industry. Peter Michelson, CEO of EcoDataCenter, shared: AI infrastructure is a new base industry, and we are building one of Europe’s most exciting companies in the sector. We are proud of the trust placed in us and look forward to continuing our journey toward becoming Europe’s leading player in high-performance data centres. EcoDataCenter has rapidly emerged as a leader in digital infrastructure. In 2024, the company entered a collaboration with AI hyperscaler CoreWeave to build one of Europe’s largest AI clusters in Falun. Shortly thereafter, it acquired the Kvarnsveden paper mill in Borlänge to establish additional data centre capacity. Since 2023, EcoDataCenter and its owner, Areim have secured a total of approximately €1.8 billion in financing. The new capital will primarily be used to continue the expansion of the Falun and Borlänge campuses. Johan Rydmark, CFO of EcoDataCenter, commented: Our platform attracts partnerships with world-leading companies, and we have a proven ability to deliver the scale and flexibility our customer’s demand. The fact that we can attract financing of this magnitude is a testament to the strength of our business model and the confidence the market has in our team and strategy. Now it’s full speed ahead. EcoDataCenter launched its first facility in Falun in 2019 and has since expanded with data centres designed for high compute capacity. Its technological expertise and commitment to sustainable development have attracted the trust of global clients, including BMW, DeepL, and CoreWeave.

Architect AI, a startup pioneering the world’s first agentic website platform, has closed a $4.75 million seed round. The funding will accelerate product development, grow the engineering team, and scale go-to-market efforts across Europe and North America. Founded in 2024 and headquartered in London and San Francisco, Architect AI enables businesses to deploy autonomous web agents that generate content, interact with customers, and optimise workflows in real time. Most websites remain static, digital brochures that don’t adapt to each visitor. Architect AI changes that by transforming any site into a self-learning AI agent that observes behaviour, generates context-aware content, and automates workflows in real time. The result is a dynamic, personalized experience where two people visiting the same page may see entirely different content tailored to their needs. Ted Eltringham, Co-founder and CEO of Architect AI, shared: We call it giving your website a brain. Because that’s literally what we’re doing. And once you see a website that can think, you can’t go back to one that can’t. We’re on a mission to turn every website into a tireless AI collaborator. This seed investment turbocharges our roadmap, allowing us to push the boundaries of what websites can do and bring agentic experiences to businesses around the globe. Co-founded by Ted Eltringham (CEO), Luke Ramsden (CPTO), and Chris Nicolas (COO), the team combines deep technical expertise with proven experience in scaling high-growth startups, bringing together entrepreneurial drive, advanced technical knowledge, and operational excellence. Visitors can already interact with Architect AI–powered sites: ask questions, challenge the content, and watch as the site reorganizes itself in real time. Every conversation makes it smarter, every visit teaches it something new. Luke Ramsden, Co-founder and CPTO of Architect AI, added: Bringing Architect AI from prototype to production in under 12 months has been an incredible journey. With this fresh capital, we’ll grow our London engineering hub, deepen strategic partnerships, and open a larger U.S. office in early 2026. The seed round was led by Project A, with participation from Concept Ventures, early backers of Eleven Labs, and strategic investor Insiders Ventures. Malin Posern, Partner at Project A, commented: Architect AI’s agentic web technology represents the next frontier in digital engagement. Their rapid execution and visionary team convinced us they’re set to redefine how companies interact with online audiences. Early clients are already seeing transformative results. Michael Hoy, CEO of Atlas, highlighted: The platform’s ability to understand visitor intent and dynamically create content on the fly is extraordinary. We’re not just seeing better engagement metrics; we’re having more meaningful conversations with our customers because the website itself can think and adapt. It’s a complete paradigm shift for what we thought a website could do. Over the next six months, Architect AI will focus on building its enterprise sales pipeline and hiring AI engineers and product managers to support growing demand.

Alkmist, a platform designed to bring structure and clarity to disorganised documents and communication, has raised €1.8 million to further develop its platform, strengthen its marketing, and accelerate its European expansion. In financial and legal workflows, inefficiencies in communication consume nearly a third of professionals’ time. Hours are lost chasing updates, sending reminders, and requesting documents, with a single audit generating, on average, 2,000 emails. Data security and transparency add to the concerns. Seventy-four per cent of auditors and financial professionals say they are unsure where their information actually ends up. With Alkmist, teams and external partners can finally work together in a clear and efficient way. The platform brings everything into one overview, from planning and tasks to approvals. Behavioural science plays a key role. Insights such as loss aversion and positive feedback nudge users towards timely follow-up and smoother interactions. Collaboration speeds up by as much as a third. The system is independent and available as white-label, allowing organizations to keep their own identity. The team is also building a central knowledge base where all information is bundled and preserved, even when staff change. Since June, Alkmist has been ISO 27001 certified, confirming the highest standard for data security and management. Dr. Mathias Celis, co-founder of Alkmist, shared: The way organizations collaborate today on audits, acquisitions, or tax files is still stuck in old habits. Crucial documents drift around in inboxes, status updates vanish, and processes are barely automated. That lack of oversight and efficiency weighs heavily on everyone involved. Alkmist is also building smart agents that automatically check, link, and fetch documents. They verify information, connect data dumps to the right requests, and pull files directly from systems like OneDrive. Clients instantly know which documents are already taken care of. Toto De Brant, co-founder of Alkmist, said: With Alkmist, we’ve built a modern tool that radically simplifies collaboration in complex processes. Interest from abroad is growing fast. Demand is so high that we’ve even had to start a waiting list. This capital injection allows us to meet that demand. Within five years, we want to be the standard for multi-party collaboration, the default workspace where everyone has clarity and control. The round is led by Network Venture Partners, with additional participation from Lighthouse executives Ivo Minjauw, Peter De Moor, and Eva Metsu. Ivo Minjauw, Chief Product Officer at Lighthouse, commented: I’m impressed by how Alkmist’s AI agent vision manages to streamline complex collaboration in one of the most conservative markets. It’s rare to see such an innovative solution that not only brings technological progress but also helps transform an entire sector through psychological insights. The strong demand from the market, with major pilots and a waiting list of dozens of interested parties, shows just how relevant and scalable this product is. With this funding, Alkmist plans to expand its platform beyond audit into broader domains such as accounting, finance (M&A, PE, banking), insurance, tax, and legal. At the same time, the startup is developing smart AI agents to streamline collaboration in conservative markets.

Vienna-based AI startup fonio.ai has acquired Linz-based AI phone assistant fluently in an asset deal. With this transaction, fonio.ai integrates its largest competitor in the Austrian market to date, further cementing its leading position in Voice AI solutions. Daniel Keinrath, CEO and co-founder of fonio.ai, said: AI phone assistants are one of the most natural applications of artificial intelligence, and we were fortunate to start very early in the DACH market. That head start has given us tremendous momentum in recent months. The acquisition of fluently marks a major step forward. We anticipate further consolidation in the market. Fluently, launched by Linz-based digital agency softwarebude.at, offers a conversational AI platform that manages inquiries, books appointments, and integrates with calendars and CRMs. Fully customizable to each business’s tone and compliant with GDPR and the EU AI Act, Fluently quickly became one of Austria’s leading AI phone assistant brands, serving around 450 customers and emerging as a key competitor to fonio.ai. Moritz Weibold, Founder of fluently, explains: We decided to sell in order to focus on further growing our digital agency. Scaling fluently in parallel would have required shifting our entire focus to the AI business. Given the speed at which technology and the market are evolving, and the pace of fonio.ai, it simply wasn’t feasible for us. As part of the asset deal, fluently will be integrated into fonio.ai, while softwarebude.at will continue operating independently and serving its clients on fonio.ai’s infrastructure. In addition, the agency will become a strategic partner, distributing fonio.ai’s AI solutions and developing tailored automations and integrations, for example, linking fonio.ai with platforms such as HubSpot, Salesforce, or SAP. Founded in Vienna in 2024, fonio.ai provides AI-powered phone assistants that automate customer communication 24/7. The platform answers calls, forwards inquiries, books appointments, and integrates with CRM and ERP systems, while every interaction is transcribed and can be stored, shared, or connected to existing tools. In under a year, fonio.ai has grown to over 2,000 customers and now automates more than 800,000 calls monthly with a team of just eight. With average monthly growth of about 30%, the company is on track to reach 5,000–8,000 customers by year-end, establishing itself as the leading AI phone solution provider in the DACH region. The market for AI phone assistants is only just beginning to take shape. As the DACH market leader, fonio.ai is playing a central role in defining it. Our next step is international expansion, with the clear goal of becoming a global player. We want to prove that it’s possible to build an international tech leader out of Austria, concludes Keinrath. Lead image: Matthias Reiner, Moritz Weibold, Daniel Keinrath | Photo: Kurt Keinrath

Amsterdam-based OAASIS, a company that uses AI-driven software to make advanced supply chain management and optimisation accessible to SMEs and mid-market firms, has raised €2.9 million and is officially entering the Dutch market. OAASIS was founded by Dutch entrepreneurs Wouter Samama and Lucas Koster, who together bring over 25 years of senior experience in supply chain management and technology at multinational companies, including Procter & Gamble and Kraft Heinz. With OAASIS, they have developed an AI-powered, modular platform that unites advanced technology with expert services in a single end-to-end solution. Their mission is to make supply chain management and optimisation at the level of large corporates accessible to SMEs and mid-market companies in the consumer goods industry. Wouter Samama, CEO of OAASIS, shared: Compared to large international corporates, smaller companies often lack the right software, processes and expertise for optimal supply chain management. The complexity means that many opportunities for optimisation remain unknown and untapped, while they could have a major impact on results. With OAASIS, we bridge this gap and enable these companies to operate at the same level with ease. The platform uses advanced AI models to optimise complex supply chain operations into an efficient and transparent ecosystem. It provides users with instant visibility across the entire chain and supports smarter decisions in purchasing, production, inventory, and logistics through data insights, scenario analysis, and forecasting. This is what sets OAASIS apart from other providers in the same price segment. Samama explains that OAASIS is nothing like a traditional inventory management platform: It’s a tool that calculates all possible scenarios for optimisation, even when there are constraints or trade-offs to consider, such as how much inventory is needed to ensure high customer service levels. Another distinctive feature of the platform is the support provided by experienced supply chain planners, managers, and engineers, who can be engaged by clients as needed.  OAASIS not only provides world-class technology but also offers additional support when needed. This allows our clients to get the most out of the software and complement the expertise of their in-house teams. This combination of ‘software and services’ enables supply chains to transform for maximum efficiency and optimal results, says Samama. Finally, its modular, plug-and-play design ensures OAASIS can be up and running within a month and easily scaled as the company grows. The use of the platform promises a minimum ROI of 300 per cent, can boost customer satisfaction by up to 99 per cent, improve inventory accuracy by up to 30 per cent and reduce annual operational costs by up to 10 per cent. OAASIS has secured funding from HGT Invest to develop its platform and build a strong team of 11 professionals, with Pieter de Haas joining Wouter Samama (CEO/CFO) and Lucas Koster (CTO/COO) as CCO. Arie Thomassen, Director at HGT Invest, commented: By combining smart technology with hands-on support, OAASIS provides significant value to smaller companies looking to continuously optimise their supply chains. We have complete confidence in the team, led by experienced management with a proven track record, and are excited to contribute to their growth. In the coming months, the company will focus on further growth within the Benelux, with the aim of expanding within two years to the United Kingdom, Germany, Austria and Switzerland, followed by wider European growth and entry into other continents. The official launch of OAASIS is also marked by the onboarding of its first customers, including e-Luscious, Marcel’s Green Soap, Senza Tea, The Nice Company, and Élala.

Espoo-based Agate Sensors, a startup developing smart sensors for material analysis, has raised €5.6 million. The funding will help commercialise a breakthrough that shrinks spectroscopy from suitcase-sized lab equipment to a single pixel smaller than a grain of sand, integrated into a chip compact enough to sit on a fingertip. The round includes €4 million in seed funding led by Voima Ventures and LIFTT, along with an additional €1.6 million in grants from Business Finland. Founded in 2024 as a spin-out from Aalto University, Agate Sensors is pioneering chip-scale spectral sensing technology that merges photography, hyperspectral imaging, and biosensing into a single platform. Backed by leading scientific research and patents, the company enables light-based intelligence across healthcare, defence, environmental monitoring, and consumer electronics. Unlike conventional cameras limited to three colour bands, Agate’s sensors distinguish hundreds simultaneously, giving machines “superhuman” vision to reveal details invisible to the human eye. As demand grows for richer environmental awareness in AI and autonomous systems, Agate’s platform expands machine vision into new domains. Its smart sensors capture spectral data and, powered by AI, classify materials and objects in real time. This unlocks applications ranging from health monitoring in wearables to counterfeit detection, environmental hazard identification, and smart agriculture. By sharing this intelligence across networks, machines gain a deeper, more coordinated understanding of their surroundings, surpassing human vision. Tommi Leino, CEO of Agate Sensors, said: We’ve taken a spectrometer once confined to specialised labs and made it small and affordable enough to live inside everyday devices. One sensor can shift between functions entirely through software — from diagnosing a health condition to detecting, identifying, and classifying objects and materials — changing how we interact with the physical world. Initial chip production is expected by year-end, with proof-of-concept demos in 2026 and the first commercial smart wearables planned for late 2027. This funding allows us to commercialize a technology that fundamentally changes how machines perceive the world, added Mikael Westerlund, CBO of Agate Sensors.  We’re not just building sensors, but enabling a new layer of light-based intelligence. Agate Sensors’ software-defined spectroscopy platform reads the “spectral signatures” of materials through light analysis.  Dr. Andreas Liapis, CTO of Agate Sensors, explained: This technology is the result of over a decade of research in semiconductor physics and nanotechnology at Aalto University. For the first time, we are able to bring laboratory-grade spectroscopy to an integrated form factor suitable for mass market use. Niko Elers, Investment Director at Voima Ventures, added: Agate Sensors’ platform is a leap forward in hyperspectral sensing: software-defined, scalable, and truly high-performance. It holds immense potential to reshape industries that rely on precise optical measurement, and we are very excited to support the company on the journey ahead. Defense is among the earliest market-ready applications. For example, the sensors can distinguish between real foliage and synthetic camouflage materials, or identify specific vehicle types through their paint signatures. Pierluigi Freni, Project Manager at LIFTT, commented: We believe this innovation will play a critical role in strengthening Europe’s technological sovereignty in defense and security. For the first time, we have a technology capable of mass deployment that allows machines to understand what they see. This changes everything we know about spectral data usability and usage. We confirm our trust and belief in the Finnish innovation ecosystem, in which we have decided to continue investing together with LIFTT Euroinvest, the investment vehicle we share with the European Investment Bank. The funding round will accelerate production of chip-scale sensors that give any camera the ability to instantly analyze what it sees, from food and health checks to counterfeit detection and critical defense applications.

ElevenLabs, the UK AI unicorn, has confirmed that it is carrying out an employee share sale at a $6.6bn valuation, double its valuation of nine months ago.The UK startup also says it has hit over $200m ARR (annual recurring revenue) in less than three years after being founded.Founded by two Polish entrepreneurs, ElevenLabs leverages AI to convert text into speech which sounds like it’s being read by human voices.The AI startup says it's carrying out a $100m employee tender co-led by Sequoia & ICONIQ at a $6.6bn valuation. Andreessen Horowitz, Smash Capital, and World Innovation Lab are also participating. Reports of the planned employee share sale emerged last week. The offer will allow staff who have worked at the startup for more than a year to cash in on their shares.In January this year, its valuation tripped to $3.3bn, after it raised $180m.In a LinkedIn post, CEO and co-founder Mati Staniszewski said: “Earlier this year, we surpassed $200 million in ARR and we expect to top $300m by year end. “We’re also rapidly approaching a 50/50 revenue split between our enterprise and self-serve customers, with enterprise revenue having grown more than 200% in the last year. “We feel it’s extremely important to give our people the chance to realize some of the value they’ve created and earned today. "We’re building for the long term with the aim of creating a generational company. Continuous liquidity opportunities will help our whole team align on that goal."Founded in 2022, ElevenLabs says its AI tools are capable of replicating voices with high accuracy. For example, the tech allows users to hear the voices of late Hollywood icons like Judy Garland and James Dean narrating books, articles, and other digital content. 

Stevenage-based biotech startup NRG Therapeutics has closed a £50 million Series B funding round as it moves towards clinical trials for its pipeline of treatments targeting mitochondrial dysfunction in neurodegenerative diseases. The round includes an £8 million investment from the British Business Bank, alongside lead investor SV Health Investors’ Dementia Discovery Fund (DDF) and follow-on funding from M Ventures, Novartis Venture Fund, Criteria Bio Ventures, and existing backers Omega Funds and Brandon Capital. The Series B funding will support NRG’s transition from pre-clinical to clinical stage, with a particular focus on clinical proof-of-concept in amyotrophic lateral sclerosis (ALS), also known as motor neurone disease (MND). The company also plans to generate initial clinical data in Parkinson’s disease. Founded to address the growing burden of neurodegenerative diseases, NRG Therapeutics is developing a new class of small molecule inhibitors targeting the mitochondrial permeability transition pore (mPTP), a mechanism associated with cell death and neuroinflammation. Its lead candidate, NRG5051, has shown strong neuroprotective effects in pre-clinical models of ALS/MND and Parkinson’s disease, including reducing neuroinflammation. Having completed IND-enabling studies, NRG5051 is on track to enter first-in-human trials in early 2026. “The pathological proteins in Parkinson’s and ALS/MND are toxic to mitochondria and contribute to the mitochondrial dysfunction which is a common underlying pathology in neurodegenerative diseases,” the company stated. “Inhibition of mPTP opening has been shown to protect mitochondria from this gain-of-function protein toxicity and to preserve neurons in pre-clinical models.” Neurodegenerative diseases remain one of the most challenging areas for drug development. Despite high failure rates in clinical trials, the growing prevalence of conditions like ALS and Parkinson’s, particularly in aging populations, continues to attract investors seeking scalable scientific innovation with long-term impact. “Developing new drugs to treat neurological diseases is very challenging but is receiving increased interest given the high unmet medical need and growing prevalence in aging populations,” said Dr. Neil Miller, co-founder and CEO of NRG Therapeutics. “These new funds provide the runway to advance our lead programme through PoC in ALS/MND, and to develop our portfolio of small molecule candidate drugs for other indications including Parkinson’s, offering new hope to the growing number of people and their families impacted by ALS/MND and Parkinson’s.” “We seek to back the best of UK life sciences, helping to turn breakthrough research into world-leading, fully commercial companies,” said Leandros Kalisperas, Chief Investment Officer at British Business Bank. “Like many of our life sciences investments, our investment in NRG Therapeutics is especially rewarding because it has the potential to help find a solution to one of the world’s largest healthcare challenges.” As part of the Series B transaction, Emma Johnson (British Business Bank), Laurence Barker (SV Health Investors), Charlotte Kremers (M Ventures), and Florian Muellershausen (Novartis Venture Fund) will join NRG’s board of directors, bringing added industry expertise as the company heads into clinical development.

AI-powered renewable energy forecasting company, Renewcast, has secured a €1 million SAFE  investment from 2C Ventures Fund I, marking a strategic extension of its 2024 SAFE round. Founded in 2020, Italy-based Renewcast delivers AI-powered forecasting solutions for the renewable energy sector. Leveraging proprietary digital twin technology, the company models complex weather patterns and asset conditions to provide intra-day, day-ahead, and multi-day forecasts. These insights enable utilities, grid operators, and renewable asset managers in Europe and the US to optimise operations and trading efficiency. With more than 1.8 GW of installed renewable capacity under active clients, Renewcast is rapidly expanding its footprint across key energy markets. The company currently runs over 10 pilot programs and serves four commercial clients in Europe and the US, with further growth aimed at India and Asia. Having already scaled more than 2.5x year-on-year, Renewcast is preparing for a Series A round in late 2026. Fabio Nicolò, CEO and Founder of Renewcast, said: This new investment is a vote of confidence in our long-term vision. Our team is growing, our commercial engine is ramping up, and our technology has proven it can deliver measurable value. We aim to be among the top 5–10 renewable forecasters globally within the next one to two years. With this funding, we will consolidate our tech team, scale our commercial efforts across Europe, the US, Latin America, and Asia, and prepare the company for institutional growth. The SAFE round remains open for additional investors up to €1 million, offering a unique opportunity to join Renewcast at a moment of accelerating growth, strong product validation, and market demand. Renewcast's platform, powered by proprietary AI and real-time data modelling, delivers best-in-class forecasting performance. Across client portfolios, Renewcast has consistently outperformed legacy systems, delivering 20–40 per cent improved accuracy and generating millions in annual value through reduced balancing costs. Hendrik Reimand, Founding Partner at 2C Ventures, commented: Affordable renewable energy is the foundation of transitioning to a sustainable economic model and ensuring energy independence. However, the rapidly increasing volumes and accelerating electrification of the economy make accurate forecasting ever more critical. We believe that Renewcast has the ingredients to become a global leader in energy intelligence – technical depth, early traction, and a clear commercial roadmap. This new funding will accelerate Renewcast’s global commercial rollout and reinforce its position among the world’s top renewable forecasting technology providers.

OpenAI has inked a deal with the Greek government, aimed at boosting the country’s startup ecosystem as well as rolling out its AI tools in schools.The deal will see Greece becoming one of the first countries to use a tailored version of ChatGPT, called ChatGPT Edu, designed for educational establishments.Greece will launch a pilot this year, with the first phase focused on AI literacy, helping teachers boost productivity and integrating AI responsibly with their work.Meanwhile, the US AI company is launching a Greek AI accelerator programme, which will prioritise AI startups focused on education, public services, healthcare and climate.This is the first accelerator programme that OpenAI has undertaken in Europe that's backed by the government.Chris Lehane, chief global affairs officer, OpenAI, said: “From Plato’s Academy to Aristotle’s Lyceum—Greece is the historical birthplace of western education. With millions of Greeks using ChatGPT on a regular basis, the country is once again showing its dedication to learning and ideas. “Recognising that nearly 60% of these users are under the age of 35, the Greek Government is opening a new educational chapter that prepares its people to seize the economic opportunities of the Intelligence Age. We are proud to stand alongside Greece as it pioneers how nations can bring AI into education for the next generation.” Greece has one of the highest percentages of STEM graduates in Europe, providing a strong educational foundation for AI skills and careers.  Last month, OpenAI launched its much-hyped GPT-5 model and two open-weight models.