A tax on the assets of wealthy founders who build businesses in the UK then leave the country would tell entrepreneurs that “their ideas and innovations aren’t welcome" in the UK, over 150 founders and investors across the UK ecosystem have warned.The warning from founders and investors representing more than £10 billion in UK economic value follows rumours that the UK chancellor Rachel Reeves is considering a 20 per cent "exit tax" on the assets of wealthy founders who build businesses in the UK then leave the country for tax reasons. Those who have signed the letter include the founders of AI talent management platform Beamery and fintech Cleo and funds such as Dawn Capital and Harry Stebbings' 20VC. The chancellor believes the move will raise around £2bn to help plug a gap of up to £30bn in the public finances.The letter, written by lobby group the Startup Coalition, says: “We share the Government’s ambition for growth and sound public finances. Progress on these will only be achieved by making the UK the best place to scale the next generation of global companies, not by punishing those who choose to leave. “At a time when founders are being courted around the world, we should be building bridges, not walls. We should attract talent and capital, pool investment, and deliver policies that lower barriers and give globally minded founders every reason to build in the UK and scale to the world.”The letter highlighted the “painful burden” of taxes already shouldered by founders, including a rise in Capital Gains Tax.It added: "We should be under no illusions that these changes have made global tech founders and investors question the competitiveness of the UK. Instead of rebuilding trust with entrepreneurs, a potential exit tax sends the opposite message: the beatings will continue until morale improves.” Stebbings told the Times the tax would be the “final nail in the coffin” for founders.He said: “It shows the complete lack of understanding that we have already lost the most wealthy people, and this will be the final nail in the coffin that will make those few stragglers who remain — including me — leave.”In October this year, it was revealed that Nik Storonsky, the co-founder and CEO of Revolut, had abandoned the UK for the United Arab Emirates following rule changes around tax breaks.

Last week, we tracked more than 60 tech funding deals worth over €848 million, and over 15 exits, M&A transactions, rumours, and related news stories across Europe.Click to read the rest of the news.

Swiss-based YQuantum has received €161,000 (CHF 150,000) from Venture Kick to develop miniaturised hardware components for the next generation of quantum computers. Quantum computers offer substantial potential in drug discovery, materials science, and finance. Achieving this requires reliable control of thousands of quantum bits (qubits). Today’s systems often rely on bulky, complex hardware, which constrains scalability and delays commercial deployment. YQuantum develops miniaturised, high-performance cryogenic hardware aimed at improving scalability. Its components support high-fidelity superconducting and spin-qubit operations, enabling the construction of larger and more stable quantum processors. By reducing size and improving efficiency, YQuantum seeks to move quantum computing hardware from research settings toward practical use. YQuantum serves a broad range of customers advancing quantum systems, from academic labs researching new qubit architectures to startups and major technology firms scaling their platforms. The quantum hardware market is expected to expand rapidly in the coming years, driven by increasing investment and technological progress across the ecosystem. Projections suggest it could reach several billion euros as quantum computing moves from research to commercialisation. The new funding will strengthen YQuantum’s technology base and accelerate the commercialisation of next-generation products, while supporting R&D expansion, business development, and customer engagement.

Stuttgart-based proptech startup dotega has raised €1.3 million in a pre-seed round from High-Tech Gründerfonds (HTGF) and experienced proptech investors, including the founders of Casavi. In Germany, about 10 million residential and commercial units are organised as homeowners’ associations (WEGs), a large market with limited digital adoption. Dotega addresses this gap with a scalable platform for complete, legally compliant self-management of small owners’ associations. The company’s intuitive web app covers core functions such as automated annual statements, legally compliant draft resolutions, transparent financial plans, and digital owners’ meetings. The platform is built on three principles: legal compliance, ease of use, and independence from traditional property managers. It handles key commercial and technical tasks, from billing to meetings, and adds guidance for renovation, value preservation, and energy-efficiency measures. According to Niklas Mocker, co-founder and managing director of dotega, this funding serves as a clear validation of the company’s approach, demonstrating both the relevance of its solution to a real market need and the confidence it has earned from leading investors. With the support of HTGF and experienced proptech investors, we can accelerate growth, scale our product, and establish self-management as a real alternative to traditional property management. The capital will support the digital transformation of self-managed homeowners’ associations in Germany and fuel further expansion of dotega’s platform for smart, compliant self-management.

With deal count down 6.8%, Europe still saw 14 nine-figure raises — headlined by Nvidia-Nokia’s €1B AI telecom partnership and Oura’s €900M boost.Click to read the rest of the news.

At Tech.eu, we keep track of the investment landscape with data-driven insights. Our Tech.eu Insiders enjoy unlimited, exclusive access to all our content, including market-intelligence analysis, reports, articles, and useful insights on tech trends and developments.  But we know that a lot of folks interested in tech might not have the funds for a subscription. In response, we're offering compact versions of our monthly reports to all of our readers.  Our versions offer a glimpse into the valuable insights provided by our monthly reports, covering key investment trends, notable company activities, and emerging industry sectors. Download the September Tech.eu Pulse today.

This week, we tracked more than 60 tech funding deals worth over €848 million, and over 15 exits, M&A transactions, rumours, and related news stories across Europe. In addition to this week's top financials, we've also indexed the most important/industry-related news items you need to know about. 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 ?? Used car platform Spotawheel bags €300M in equity and debt ?? Upway raises $60M to refurbish 1 million e-bikes by 2030 ?? Reflex Aerospace secures record €50M as satellites deemed Europe’s “Achilles heel” ??‍?? Noteworthy acquisitions and mergers   ?? Homemove acquires Home.co.uk, merging AI-driven moving tools with trusted market data ??US-based company acquires AI sign.mt language translator ?? GigRadar acquired the Ukrainian freelance community Top Rated Club ?? Latvia's Mapon shifts gears into Ireland, acquiring Fleet DATA to power European expansion ? Interesting moves from investors ?  Europe’s founders unite: new Fund aims to build Europe’s first trillion-dollar tech giants ?  Aspirity Partners closes debut €875M Fund to back Europe’s next B2B tech champions ?  Armilar Fund IV hits €120M first close to invest across Iberia and Europe ? Balnord unveils €70M fund for frontier and dual-use tech across the Baltics ?? Froda teams up with Triffin to provide £100M in growth capital for UK consumer brands ?️ In other (important) news ?? Bulgarian unicorn Payhawk plays down Brex's European challenge ?  Anthropic to open offices in Paris and Munich ?? Circus Defence makes first deployment with BRAVE1 in Ukraine — a world first for autonomous defence ⚛️ UK signals "Quantum Decade" with new investments and deals to fast-track real-world quantum adoption ? Recommended reads and listens ? Europe’s AI ecosystem: Rapid growth and rising global ambitions ? Agate Sensors wins Swedish defence contract for physiology monitoring ? Europe’s urban shared mobility needs a brain — SWITCH built one. ?? Can SET University become Ukraine’s founder factory? ? Collo's deeptech fix for the food & beverage industry’s water waste problem ? European tech startups to watch ?? Leil lands €1.5M to make hyperscale storage infrastructure accessible for all ?? Motley raises $1.5M and launches AI business reporting platform ?? Vigilant AI.ai lands £585,000 pre-seed for compliant "AI Teammates" ?? FireDrone gets €161,000 from Venture Kick for heat-resistant drones ?? Pasqal secures strategic investment from LG Electronics to unlock real-world quantum advantages for product innovation

Despite efforts to reduce water consumption, the beverage industry is known for its resource-intensive nature: for example, producing each litre of Coca-Cola requires up to 1.8 litres of water, and in dairy, this ratio is twice as high.  Both industries mainly rely on legacy sensor technology and measurement principles developed in the 1800s to distinguish between different liquids in the production process. Finnish deeptech startup Collo wants to change this. Developed after years of scientific research at Tampere University, the company has developed IoT analysers for optimising industrial liquid processes (and a corresponding platform), helping cut liquid losses in beverage and dairy production. Its tech is trusted by industry giants like Danone, Fonterra and Valio. I spoke to CEO Jani Puroranta to learn more. The three pain points that sparked Collo's RF innovation According to Puroranta, the company spun out an original science project where some big companies had identified the need for new types of analysers in their processes. The major things they were struggling with were, first of all, fouling — the accumulation of unwanted material on solid surfaces.  "In many processes, you get fouling, and on optical devices especially, it's a challenge because for one or two weeks it works nicely, but then it starts to drift as fouling accumulates.  Eventually, you need to either recalibrate or clean it, and you can't rely on those instruments all the time. The second challenge was that instruments are often very specific to the location where they are used. In one place it works, but at the next station in the process, it may not work. Then at the third stage, you need another analyser. It becomes a game of mixing and matching." Then there's the need for predictive maintenance, rather than having a maintenance person go through the plant, check instrumentation, and follow a maintenance schedule. Puroranta contends, "Wouldn't it be better if the instrument could tell you when it needs service? That was a challenge." When asked why such a critical solution hadn't already been developed by the giants of the food and beverage world, Puroranta contends that genuine breakthroughs like this rarely originate inside large corporations.  "They typically come from universities, where researchers test unconventional ideas, like a completely new method for liquid measurement that falls outside the industry's standard playbook," he explained. "Once a technology shows real promise and reaches industrial validation — around Technology Readiness Level 6 to 8 — that's when the big players start paying attention. That's where we are now: the technology is proven in live environments, we're shipping to customers, and continuously improving with each deployment." The RF breakthrough lets factories see inside their pipes in real time Collo uses radio-frequency (RF) sensing to analyse the behaviour and composition of liquids in real time. Instead of relying on traditional measurements like temperature, flow, or pH, Collo sends low-power RF signals through the liquid and measures how the signal changes as it interacts with the fluid.  Different liquids – and changes within the same liquid – affect the RF signal in unique ways (a kind of "liquid fingerprint").  By interpreting these RF responses, Collo can detect transitions between products, levels of dilution, residue during cleaning, and other subtle changes that standard sensors can't capture. This allows manufacturers to track what is happening inside pipes and tanks with high precision, enabling better optimisation of product pushouts, cleaning processes (CIP), and overall process efficiency. A three-layer platform bringing "liquid intelligence" to the beverage and dairy industries After the original project, the tech turned into a startup, and according to Puroranta, "Over the past years, it's become evident that this technology works particularly well in the food and beverage environment, tackling the challenges customers have there today. Dairy is a big vertical for us, beverage bottling plants as well." Collo offers three core products that together deliver end-to-end "liquid intelligence" for industrial processors. Collo Insights is the analytics and visualisation layer, turning complex liquid behaviour and sensor data into clear, actionable insights for operators to optimise processes, reduce losses, and monitor batch consistency in real time.  Collo Connect integrates this intelligence directly into plant automation systems such as PLCs and SCADA, enabling precise, data-driven control of flow rates, transitions, and CIP sequences so processes can adjust automatically based on live liquid composition.  Complementing these, the Collo Lab Analyser is a portable device for real-time liquid analysis in labs, pilot sites, or on the production floor, supporting R&D, quality control, and new product development through rapid testing and benchmarking. With Collo's tech, the primary goal is automation. Its instrument sends an automation signal to the plant's SCADA system, which then determines when to turn valves to eliminate losses that can be identified in the process. The automation connection is key. However, on the back of this, the company can also conduct cloud data analysis. "Or if the customer doesn't want any cloud connection, we can collect the data on site and do the final analysis separately," explained Puroranta.  "Then we walk the customer through their process: for example, if there's a sudden spike in the loss of raw milk somewhere, we can show that now it's going into the drain, and when it went into the drain, we can go back in the process and see which valve turned at the wrong time." The hidden drain on profits: product changeovers and cleaning waste The main applications for Collo's tech are so-called push-outs.  "When you make product changes, you push the previous product out with water and then bring in the next product. The water needs to go to the drain, but sometimes you lose some of the product, or you may be too aggressive in the push-out, trying to save product, and end up diluting it instead. We help get that timing right," he explained. Further, when workers clean the pipes with acids and caustic chemicals, they need to flush them and determine when it's the right time to start production again.  Collo's tech can save huge amounts of water by dynamically determining when the pipe is truly clean and when you can move to the next stage. And the impact is profound. Customers like Coca-Cola, which have publicly announced for years their targets for reducing water use, currently  use 1.8 litres of water for every litre of Coca-Cola they bottle.  Additionally, when considering product losses in dairies, according to Puroranta, there are approximately 12,000 dairies in the EU, which process 160 million tonnes of raw milk annually: "On average, 4 per cent of that gets lost. That ends up practically in the drain. That's almost €1 billion annually lost in the drain. Additionally, there's an extra half billion in wastewater management costs, as it needs to be treated — it cannot simply be poured into the sewer.  You need to add polymers, flocculants, and so on. This means big investments for water treatment plants. Just getting the extra milk out of the water is a big cost, and of course, there's the environmental impact as well." Reducing the average from 4 per cent to 3 per cent — a 25 per cent decrease — results in more than a billion euros saved annually across the industry. In other words, even incremental waste saving has a massive (excuse the pun) flow-on effect.  Augmenting with smarter sensors and self-learning models Crucially, Collo tech augments existing supply chain set-ups, reducing the cost of replacement. Puroranta asserts, "We're not expecting customers to replace anything. Usually, they've gone through the process of identifying that they can't live with a no-parameter setup, which is usually time- and flow-based: just looking at the clock and turning the valve. That's wasteful. Then they add a conductivity instrument or some optical devices to monitor what's going on. With that, they get down from, say, 7 per cent loss to 5 per cent, maybe close to 4 per cent. But how do you get better than average? Then you need new technology. That's where we come in." Collo's instrument stands out because it measures nine variables, including temperature for temperature compensation.  "How do you turn nine variables into a signal that automation can use? Because automation can only use a monotonic one-dimensional signal that goes up or down. It can't use nine-dimensional signals," shared Puroranta. "For that, we use machine learning models. We have developed about a dozen different algorithms depending on the liquid type and the problem you're trying to address. Are you doing push-outs? Cleaning in place? Product quality? That's also an aspect — we do raw milk quality fingerprinting. We convert those nine variables with machine learning models tailored, if needed, to the customer process. They are trained on the actual data on the customer site, and we turn that into an automation signal." "The algorithms are also self-learning," explained Puroranta. "Sometimes it needs more work if it's a very special product. For example, we have customers using it for other purposes like measuring the viscosity of resin. Then we need to do some lab analysis to correlate it with our data and refine the machine learning models." In August last year, the startup raised €5 million.   "There are 12,000 dairies in Europe. That's thousands of addressable customers," shared Puroranta. Further, Collo's technology has numerous applications in liquid processes beyond the beverage industry, including oils, resins, and ceramics, as well as mining processes and mineral processing.

Today, as the National Quantum Technologies Showcase brings thousands of researchers, investors, and global policymakers together in London, the UK government is taking another step forward to unlock quantum’s vast potential to drive economic growth and national renewal, and help tackle major challenges like health and climate change. It announced a raft of announcements backed by millions of pounds worth of funding. This includes the announcement of 14 projects sharing £14 million through Innovate UK’s Quantum Sensing Mission Primer awards, to support the development of next -generation sensors that could be used in healthcare, transport, and defence:  Gravity Cartography Mission (GCM) - Mobile Networked Quantum Sensors for Resilient Critical Infrastructure and Mapping at Scale; Delta G Limited; £1,364,536. For work on a ‘quantum gravity gradiometer’ that can detect underground objects and tunnels, without the need for excavation works, and unaffected by issues like vibration and noise often seen on construction sites. TimeLink; Xairos UK Limited; £1,396,392. Developing a quantum timing unit. Navigation, financial transactions, and even ATMs all rely on an uninterrupted timing signal – usually coming from satellites, which can be disrupted or spoofed. A quantum-based solution would be immune to this sort of interference. Rail Quantum Inertial Navigation System (RQINS) – Product Maturity Roadmap Development; Monirail Ltd; £1,263,818. Developing a quantum navigation system for use on the London Underground, and potentially the wider national rail network, to help trains run on time. Quantum Sensor for Orbitrap Mass Spectrometry – enhanced speed & sensitivity for healthcare analysis; NPL Management Limited; £649,307. For the development of super-sensitive quantum sensors, to speed up the testing of blood samples for signs of cancer and other diseases. Q-ASSET Quantum-All Solid State Enhanced Timing; Nascent Semiconductor Limited; £1,331,496. Developing a compact and highly accurate quantum clock to provide a resilient alternative to satellite signals, for critical national infrastructure that are dependent on timing information. Quantum eye scanning to eliminate backlogs in the NHS’s busiest outpatient speciality; Siloton Limited; £703,858. For work on a quantum eye scanner that promises to be far more portable than the OCT machines currently used in hospitals, as well as affordable. A Roadmap to Clinical Adoption of Quantum-Enabled Brain Imaging; Cerca Magnetics Limited; £1,488,588. To design the first quantum brain scanner for use in diagnosing epilepsy. This approach could vastly outperform conventional methods. Infra-red Single Photon Imaging, Ranging and Sensing (InSPIRS); Toshiba Europe Limited; £856,068. To develop new semiconductor components for quantum sensors and navigation systems, that operate 10 times faster than those currently on the market. QuDiFi: Quantum Radio Frequency sensor system for Direction Finding; ColdQuanta UK Limited; £1,402,428. To develop a prototype quantum system for detecting radio signals, of particular use for defence. Single-Photon Raman Tritium Analyser; Curtiss-Wright Wimborne Limited; £854,810. Developing a new type of quantum sensor for use in nuclear fusion reactors – which could be a crucial missing link in making fusion reactors commercially viable. AQlock 2; AQuark Technologies Limited; £1,399,573. Developing a quantum atomic clock for use by the telecoms industry – offering a resilient alternative to satellite signals that can be blocked, or affected by space weather. SrROCK (Strontium - Ruggedized Optical Beam Clock); Quantum Fabrix Limited; £705,509. Developing a ruggedised and compact quantum atomic clock that could be used in a variety of challenging settings. Single-photon flash LIDAR in the middle-infrared spectral region for imaging in challenging environment; Fraunhofer UK Research Limited; £814,578. Developing a new type of laser-based quantum sensor that still works effectively in smoke or fog – of use in transport, defence and elsewhere. SPECTRA; British Telecommunications PLC; £539,586. To develop a quantum radio signal receiver, which would be immune to many means of blocking and spoofing. Besides the Innovate UK Quantum Sensing Mission Primer awards, today’s package of support for the UK’s quantum pioneers includes: Launching the new Quantum Centre for Nuclear Defence and Security at AWE. This will support AWE together with the University of Strathclyde to bring quantum computing and sensing to bear in nuclear science and technology that is vital to the UK’s security. A £300,000 government investment will relaunch the Scotland–California SU2P quantum and photonics partnership, linking leading researchers from Strathclyde, St Andrews, Heriot-Watt and Glasgow with Stanford and Caltech to accelerate commercialisation and investment. The signing of a MOU between the UK’s National Quantum Computing Centre (NQCC), and Japan’s National Institute of Advanced Industrial Science and Technology to enable easier UK-Japan collaboration in quantum computing research, as well as talent exchange The successful deployment of all 7 quantum computing testbeds – operationally-ready pieces of quantum-computing hardware – at the National Quantum Computing Centre (NQCC) this year, which have been delivered with £30 million support through Innovate UK. These will enable businesses to demonstrate and validate new quantum computing technologies and increase market readiness. The launch of the National Metrology Institute – Quantum (NMI-Q) at the National Physical Laboratory, earlier this week. NMI-Q is a partnership for quantum R&D across the G7 plus Australia, which the UK will co-chair with the US in its inaugural term. The recent launch of a joint UK-Canada funding call, to support shared work demonstrating quantum communications either over land, or in space. This is being backed with nearly £3.5 million from Innovate UK. The forthcoming launch of the UK-Singapore quantum satellite SpeQtre, set to lift off 10 November. This mission aims to prove the feasibility of ultra-secure quantum-encrypted communications in space. Science Minister Lord Vallance said: "Quantum technologies are changing the world – from ultra-sensitive sensors to help diagnose diseases through to the potential of a new type of computer that can do things in seconds that would take today’s computers decades to compute. The UK already has considerable strengths and lots of exciting new companies have sprung up in the UK. The funding and agreements being announced today aim to support this exciting and important growth area right across the country." According to Jonathan Legh-Smith, Executive Director of UKQuantum, the achievements of the UK’s National Quantum Technologies Programme over the last 10 years have positioned the UK as one of the world’s leading quantum nations.  “Our companies have developed world leading technologies across the whole quantum domain -– including sensing, imaging, clocks and computing – with strong engagements across sectors such as transport, finance, telecommunications and defence. The announcements today demonstrate the translation of innovation to commercial reality is already well underway in the UK.” This is yet another step forward in the government's efforts to unlock the real-world benefits of quantum, underpinned by the £670 million for quantum computing announced in the Industrial Strategy – one of the largest and longest-term commitments made to this technology, of any government in the world. The government predicts that by 2045, quantum technology could contribute £11 billion to the UK's GDP and create over 100,000 jobs. Lead image: Freepik.

The US AI lab behind the chatbot Claude is opening offices in Paris and Munich, as it looks to grow its European footprint. San Francisco–based Anthropic has also made a number of personnel appointments across Europe, where it employs nearly 200 people. The new Paris and Munich offices build on Anthropic’s existing EMEA headquarters in Dublin and offices in London and Zurich. Outside of the US, it also has offices in Tokyo, Seoul and Bengaluru. Separately, Guillaume Princen, who joined Anthropic earlier this year as head of EMEA, has been appointed EMEA head of startups, mid-market and digital native businesses. Thomas Remy, a former Google executive, has been appointed head of EMEA South, while Pip White, a former HP executive, has been appointed head of UK, Ireland, and Northern Europe.  The San Francisco-based firm, valued at $183bn in September this year, says that Europe is now its fastest-growing region in terms of revenue, but did not divulge specific numbers. Examples of European firms working with Claude include L’Oréal, BMW, SAP, Lovable and N26. Chris Ciauri, Anthropic’s managing director of international, said: “The business leaders I speak to are clear-eyed on both the immense opportunity that AI development represents and the critical importance of safety, reliability, and public trust. "With a bigger, broader, and highly specialised leadership team, we’re doubling down on sustained EMEA growth and building the team our European users need.”

Cities are under mounting pressure to manage an increasingly complex mobility landscape. Shared e-scooters, bikes and cars, on-demand delivery fleets, EV-charging needs, shifting commuter patterns, and new regulations have made urban transport harder to plan and optimise than ever.  Operators are often left juggling siloed data, unpredictable demand, and costly manual decision-making, while city authorities struggle to design infrastructure that keeps pace with real behaviour on the ground.  SWITCH (short for "Street Witch) is an Italian startup that provides agentic AI that can simulate, forecast, and act in real time, helping mobility and logistics stakeholders move from reactive operations to intelligent, data-driven systems that run efficiently and serve cities better. I spoke to SWITCH CMO Simone Ridolfi at the recent Bologna Gathering to learn more. From the Rome car-sharing App to AI mobility intelligence SWITCH was founded in February 2020. It originally started as a consumer app in Rome, to match demand and supply, enabling users to  "switch" cars with people. Then COVID hit. And while everything stopped, the team used that time to listen to operators and pivot their app to cater to people eschewing public transport for car sharing and micromobility.   Ridolfi says the turning point came when the company hired specialised talent — including a Chief AI Officer — and doubled down on solving operators' real-world problems with AI and data. "We never stopped talking to operators. That's how we built what they actually needed," he says. Inside SWITCH's AI toolkit In response to industry needs, SWITCH has developed a suite of AI tech, including: Urbiverse, a simulation and synthetic-data engine for "what-if" modelling, fleet sizing, and infrastructure planning such as parking hubs and EV-charging networks. Urban CoPilot, an operations-optimisation platform that supports demand forecasting and fleet rebalancing; SWITCH AI Agent, which connects planning and operations through real-time forecasting, simulation, and autonomous or semi-autonomous decision-making. The power of open data Cities generate a significant amount of open public data, including street layouts, traffic flows and congestion, parking information, and event details. "If you have a strong model to predict demand and use all this open data, the value becomes very interesting," contends Ridolfi. The startup works with shared mobility operators, carpooling platforms and Demand-Responsive Transport (DRT) services —primarily in micromobility, but also increasingly in car-sharing. Currently almost all shared mobility providers use historical data models, but they're not very precise — or they rely on gut feeling.  "For example, they think, 'Okay, let's put all the scooters in the city centre because a lot of people go there.' That might work for one day, but if you distribute scooters across the city based on predicted demand, you'll get more rides. We help them do that and calculate the impact. On average, we see a 25 per cent increase in operational efficiency," shared Ridolfi.  "We help operators forecast future demand with much greater precision," Ridolfi explains. "If you know what the next weeks or months will look like, you can plan and operate far more effectively." Further, a car-rental operator might use their demand-forecasting module to decide how many vehicles to buy/position in different zones, when to offer discounts, and when to relocate vehicles. SWITCH also uses flight event data — arrivals and departures — to predict demand so providers know how many cars to position at airports. Real-time data responsiveness  SWITCH's AI agent that connects a company's data with external platforms and with its demand prediction and optimisation models. You can receive data in a minute, and two minutes later, you'll get suggestions on what to do. "So you can ask it — like you do with ChatGPT — things such as: "What do I need to do next month to reach €1,000 more revenue?" or "Which areas will be affected by Sunday's strike?" The agent analyses everything and provides recommendations." A shared mobility provider can use SWITCH's demand prediction to understand demand concentration in different city zones to know where to place scooters. Its rebalancing and forecast tools can guide them to proactively move vehicles to high-demand spots, avoiding oversupply/undersupply. For a new mobility launch, that means knowing how many vehicles to deploy, how many rides to expect, and when you'll hit break-even.  Crucially, SWITCH can also help companies determine whether to enter a new market. For example, one micromobility company wanted to operate in a city in Norway. According to Ridolfi, "there are tenders, but they didn't know if they would be profitable — how many competitors, how many rides, etc.  "We built a dashboard to assess whether entering that market made sense. Ultimately, they decided not to enter. So we saved them money and risk because they knew in advance what could happen." It would have been beneficial in Berlin, which at one point had seven different e-scooter and e-bike operators competing for the same streets. Although operators are reluctant to share vehicle utilisation data, research indicates a single shared e-scooter is often used fewer than three times per day, for trips averaging under 1.5 km. That means long periods of idle time and significant public-space clutter relative to actual mobility output. Urbiverse powered a launch with shared mobility operator Wayla by modelling every key dimension of their rollout — from fleet size and vehicle placement to ride volume and profitability. The simulation, built on real-world data and dynamic modelling, delivered 92 per cent accuracy when compared to actual launch outcomes.  This level of precision enabled the operator to transition from guesswork to a data-driven strategy, significantly reducing risk and refining deployment decisions. Data-Driven policy (and clarity) for cities and operators Further, SWITCH's Urbiverse platform enables local governments to optimise shared mobility fleets, strategically place micromobility hubs and EV charging stations, and simulate policy impacts before implementation.  By generating synthetic data when real-time data is unavailable, Urbiverse ensures officials can make informed decisions despite data gaps. Urban Copilot enhances Mobility-as-a-Service by predicting fleet availability so vehicles are in the right place at the right time. Another point is policy. Ridolfi contends that "cities need time to understand the impact of micromobility — but often they don't have the tools to measure it." Take London, where public e-scooters have been in trial phase since 2028 and are set to run until 2028. Yet mobility providers invest now, and then one day the city might say "No more scooters," like in Paris, leaving dozens of vehicles to be sold. "With SWITCH tools, operators can also become part of the city's planning process. They can be proactive, not reactive," shared Ridolfi. "For example, the city might say, 'No free-floating scooters," and instead require hubs. Using our tools, you can plan hub placement based on real demand. In Turin, we worked with the city to study where bike hubs should be placed so that bikes don't interfere with traditional mobility and still satisfy citizens' needs." SWITCH raised €600,000 from private investors in January, including EIT Mobility and Berkeley SkyDeck — the startup was part of Berkeley SkyDeck's first acceleration program in Milan — as well as around €400,000 in public grants since its inception. The startup is currently part of the NVIDIA Inception Program. And, as its reach expands, the days of idle scooters, underused fleets and reactive policy may finally be numbered. Lead image: Freepik.

Klarna has struck a deal to allow its customers to make recurring payments by a new payment method heralded as the latest iteration of open banking, which is looking to compete with direct debit payments. The Swedish financial company is partnering with Sparkassen, Germany’s largest banking group, to launch Variable Recurring Payments, also known as VRPs, in Germany. VRPs have long been touted as open banking’s hot new initiative to rival direct debit payments. The deal with Sparkassen means that Klarna customers with an external Sparkassen bank account can set up an authorisation for Klarna to take recurring payments from their account, without needing to specify the value of the payment up front. Recurring payments for varying amounts can be made, without the customer needing to sign off each one. VRPs are expected to be used to pay for utility bills, subscriptions and other regular payments in a more flexible way. The move comes as Klarna looks to take market share from card giants Visa and MasterCard. Advocates of VRPs say its advantages over direct debit payments are that regular payments can be customised and are quicker and safer, with payments appearing immediately in accounts. Nicole Defren, head of northern and central Europe at Klarna, said: “VRP sets a new benchmark for digital payments for millions of consumers. "With Variable Recurring Payments, Klarna offers a modern, account-based alternative to traditional direct debits — secure, fast, convenient, and fully transparent. Together with the Sparkassen Finanzgruppe, Klarna continues to expand an innovative and future-ready payments network.”

Paris-based Upway, a platform for refurbished e-bikes, closed a $60 million Series C round led by A.P. Moller Holding, with participation from Galvanize, Ora Global, and renewed backing from Korelya Capital, Sequoia Capital, Exor Ventures, Transition, and Origins. Founded in 2021, Upway operates internationally and combines industrial expertise, proprietary technology, and a circular-economy approach. The company has refurbished and sold over 100,000 e-bikes and aims to return more than one million to the road by 2030. Its services also include financing, insurance, maintenance, and subscriptions. Its mission is to extend the life of e-bikes and make sustainable mobility widely accessible. According to co-founders Stéphane Ficaja and Toussaint Wattinne, Upway was built on the belief that sustainable light mobility depends on a circular model: We’ve built a strong industrial and technological foundation to give electric bikes a second life with the same quality and safety standards as new ones. We want to prove that performance, impact, and sustainable profitability can go hand in hand. Upway buys used e-bikes, refurbishes them in-house to rigorous standards, and sells them online with a one-year warranty and home delivery. The catalogue spans more than 200 brands and 2,500 models, typically priced about 45 per cent below new, often saving buyers over €1,000 per bike, and each unit undergoes a 50-point inspection by trained mechanics. Refurbished e-bikes can replace short car trips, helping reduce congestion and cut CO₂ emissions by up to 90 per cent per kilometre, while diverting thousands of bikes from landfill and supporting a circular economy. Regular e-bike use (around 15 km per day) is associated with a 40 per cent lower risk of heart attack and may help address obesity and air pollution. With the new financing, Upway plans to accelerate its industrial and digital growth by opening additional UpCenters in Europe and North America. The investment will also support the rollout of new digital services, including financing, insurance, maintenance, and subscription options, aimed at making electric biking simpler, more affordable, and more accessible to a wider audience.

Balnord, an early-stage investor focused on the Baltic Sea region, announced it has exceeded its €70 million fund target and is on track for a final close of €100 million by mid-2026. The firm targets companies advancing Europe’s technological reindustrialisation, investing in frontier and dual-use technologies with emphasis on space, healthcare, and industrial resilience. Europe is undergoing a significant reindustrialisation, with frontier-tech and dual-use companies likely to play an important role. Annual investment across the continent is estimated at around €1 trillion to address complex challenges and support this shift. Balnord anticipates that high-growth companies will emerge in this segment. We’re investing in the backbone of European industrialisation. We have already invested around €13M in 10 companies. The first four of them raised €40M in subsequent investment rounds, generating revenues of €35M this year,  commented Marcin P. Kowalik, General Partner at Balnord.  Balnord’s strategy is to support Europe’s technological autonomy and reindustrialisation across sectors, including space, healthcare, and industrial resilience. Drawing on its founders’ experience as entrepreneurs and operators, the firm plans to support teams from the first round through exit. The fund plans to invest in at least 22 companies, with initial investments ranging from €500,000 to €3 million, with follow-on investments of up to €12 million per company. Aleksander Dobrzyniecki, General Partner at Balnord, noted that the team has been collaborating for nine years, bringing together a group of mission-driven investors and operators united by a shared goal of supporting founders in overcoming their most difficult challenges. We’re backing resilient entrepreneurs who are raising the bar on ambition, aiming to build billion-dollar companies across the Baltic Sea Region—where we can make a GDP-level impact. We’re not just investing in companies - we back founders and help them build movements. Balnord has invested in 10 companies to date, seven of which are currently public, including ATMOS Space Cargo (Germany), Vitvio (Poland), Astrolight (Lithuania), Microamp (Poland), Port.app (UK) and Satim (Poland). The firm has co-invested with funds such as Expansion, Matterwave, APEX Ventures, Seraphim, OTB, Inventure, Voima Ventures, and Bek Ventures (formerly Earlybird Digital East). Limited partners include the European Investment Fund, PFR Ventures, and European family offices, founders, and private investors.

Cambridge Photon Technology (CPT), a deeptech spin-out from the University of Cambridge, has raised £1,556,000 in new funding to accelerate the commercialisation of its photon-multiplier technology.  As global solar demand accelerates and silicon PV nears its theoretical efficiency ceiling (around 28 per cent), new solutions that enhance output power without redesigning the solar panels are urgently needed.  CPT has developed a patented photon-multiplier technology that enables existing silicon solar panels to generate more power by converting wasted sunlight into usable light.  By converting each high-energy photon, normally lost as heat, into 2 infrared photons that silicon can absorb, CPT’s innovation can boost energy output by up to 15 per cent while remaining fully compatible with existing solar infrastructure. It represents the first demonstration of this photon-multiplication effect at scale. The drop-in solution fits into standard solar modules without any redesign or capital-intensive manufacturing changes, offering one of the most practical routes yet to increasing global solar efficiency. The £926,000 equity investment round attracted international backing from Cambridge Enterprise Ventures, Spectrum Impact, Tybourne Capital, Providence Investment Company and SourceSquared. A £630,000 Clean Energy and Climate Technologies grant from the UKRI Innovate UK Investor Partnerships was also awarded, enabled by the participation of Cambridge Enterprise in the investment round. According to Dr Claudio Marinelli, CEO of Cambridge Photon Technology, the investment demonstrates strong private-sector confidence in CPT’s technology and vision: “Attracting backing from leading investors across the UK, India, and Asia underlines the global relevance of our approach and its potential to transform solar efficiency at scale. The Innovate UK programme provides a powerful layer of support, helping us bridge the gap between early-stage development and commercial readiness.” Chris Gibbs, Investment Director at Cambridge Enterprise Ventures, said: “Cambridge Photon Technology exemplifies the kind of transformative innovation needed to accelerate the global transition to sustainable energy and address climate challenges.” With this funding, CPT will expand its R&D operation in Cambridge, accelerate material testing with global industry partners, and prepare for a larger Series A raise ahead of pilot deployment. The company aims to bring its first product to market by 2028. Lead image: Cambridge Photon Technology.

Traveltech is one of the industries that quietly shapes how the European technology ecosystem operates. Behind every itinerary is software that simplifies trips, from policy-compliant bookings and automated approvals to organised expense tracking, allowing travellers to focus on the journey rather than administration. In the background of every stay, digital hospitality platforms keep things running smoothly: property-management systems connect reservations, housekeeping, maintenance, and payments, while real-time revenue tools adjust prices to keep rooms full and margins healthy. Together, all of this forms a resilient ecosystem, gradually redefining how travel is planned, booked, and experienced. The following are the ten largest funding rounds in the European traveltech industry during the first half of 2025. Amount raised in H1 2025: $200M Perk (formerly TravelPerk) is a cloud-based platform that brings together travel booking, expense management and invoice payment into a single intelligent suite. It empowers teams to book and manage flights, trains, accommodation and cars, process expenses and invoices with AI automation, and gain real-time control and visibility over company spend and travel policy compliance. In January, the company completed its Series E funding round, raising $200 million and nearly doubling its valuation to $2.7 billion. Amount raised in H1 2025: $75M Mews Systems is a cloud-native hospitality management platform designed to streamline and elevate hotel operations. Its integrated suite includes property management (PMS), revenue management (RMS), point-of-sale (POS), guest tools like digital keys and virtual concierge, and full payment capabilities. The system is trusted by over 12,500 properties worldwide, helping them automate manual tasks, personalise guest experiences, and grow revenue, all via a single intuitive platform. In March, Mews raised $75 million to support its expansion in the US and DACH regions, accelerate platform innovation through AI-powered revenue management capabilities, and drive strategic acquisitions and R&D initiatives. Amount raised in H1 2025: $75M RoomPriceGenie is a dynamic, automated revenue-management platform tailored for independent hotels, B&Bs and small chains. It uses advanced algorithms and competitor/data-driven insights to set optimal room pricing every day, allowing hoteliers to boost revenue while maintaining full control and transparency. In February, RoomPriceGenie raised $75 million to support its global expansion and develop a new generation of API integrations designed to streamline revenue management for independent hotels worldwide. Amount raised in H1 2025: €46M Holidu is a Munich-based tech company that operates a vacation-rental search and booking platform across Europe, offering travellers access to thousands of privately managed holiday homes with secure booking and comparison features. At the same time, Holidu supports property owners and managers with tools to list, manage and optimise their rentals, enabling visibility across multiple booking portals and simplifying operations. In June, Holidu raised €46 million in a growth financing round to accelerate its AI development roadmap, expand its Property Management Software (PMS) business, and drive further growth in key strategic markets. Amount raised in H1 2025: €30M Roadsurfer is a global camper-van and RV rental company offering fully-equipped vehicles for road-trip adventures across Europe and North America. With flexible bookings, unlimited mileage in many locations, and a range of vehicle classes, from compact camper vans to larger motorhomes, the platform caters to both first-time campers and seasoned van-life enthusiasts. In February, Roadsurfer secured €30 million through an asset-backed financing round to cover all planned fleet investments for 2025, enabling further expansion of its vehicle fleet across existing markets in Europe and North America. Amount raised in H1 2025: €25M Exoticca is a Barcelona-based online tour operator, founded in 2013, that designs and sells all-inclusive vacation packages, including flights, hotels, transfers and guided or self-guided tours, to destinations around the world. With a strong emphasis on value, technology and convenience, Exoticca offers carefully crafted itineraries at competitive prices by combining destination experts with its proprietary booking ecosystem. In February, Exoticca secured a €25 million venture debt facility from BBVA Spark to strengthen its market position and support ongoing development initiatives. Amount raised in H1 2025: €21M HolaCamp is a Barcelona-based outdoor hospitality company operating a network of modern campsites and glamping destinations across the Iberian Peninsula. They blend nature and comfort by offering thoughtfully designed accommodations under the banner “#CampStories,” coupled with digital booking and guest-experience tools. In addition to running its own sites, HolaCamp provides centralised services to third-party campsite owners, such as revenue management, quality control and customer service, to elevate operations within the traditionally fragmented camping market. In June, HolaCamp secured €21 million in debt financing from Banco Santander’s Smart Fund, which supports high-growth initiatives that are sustainable, innovative, digital, and foster job creation. Amount raised in H1 2025: €20M Naboo is an all-in-one platform for planning corporate retreats and events, letting teams book venues, catering, activities, and transport in just a few clicks. It connects companies with curated locations and providers, streamlining off-sites, seminars, and team-building across Europe and North America. In January, Naboo raised €20 million to meet growing demand in the UK market throughout 2025, and to further expand its European presence across Germany, the Netherlands, Spain, and Italy. Amount raised in H1 2025: €10M Gaiarooms is a hospitality platform that operates a network of hotels, hostels and apartments across Spain, offering fully-digitalised accommodations with automated check-in/out, 24/7 online reception and smart-lock technology. It also provides property owners with operational and revenue-management services to transform their assets into modern, efficient rental units. Gaiarooms closed a €10 million round in March to revolutionise digital hotel management. Amount raised in H1 2025: €5.5M Hotiday is a travel-tech startup offering a unique “Room Collection” concept, partnering with hotels to curate distinctive rooms tailored for modern travellers. It not only addresses the challenge of unsold inventory but also equips hotels with powerful tools, including a proprietary revenue management system and advanced data analytics, to optimise pricing strategies and maximise profitability. In May, Hotiday raised €5.5 million to launch new locations in major European resorts and cities, enhance its service offerings for partner hoteliers, and grow its team.

Swiss-based Motley has raised a $1.5 million pre-seed round and launched its business reporting platform. The round was led by Seedcamp, with participation from Tiny VC, Kima Ventures, RTP Global, Founders AS, and several angels. Motley is an AI-powered platform that transforms how teams create business reports. By connecting directly to existing systems such as CRMs, BI tools, databases, and spreadsheets, it automatically sources data, builds report-ready documents, and surfaces relevant business context. Teams move from weeks of manual compilation to minutes of output, shifting focus to insights and decision-making. The platform retains historical context, analyses sentiment, and provides recommendations to make reports more useful. Designed for recurring business reviews, customer updates, and performance reports, Motley helps organisations streamline reporting, improve collaboration, and turn information into action. The company was founded by Egor Kraev (formerly Head of AI at Wise), Artemy Belousov (engineer at Yandex), and Yann Ranchere (former CFO and Partner at Anthemis), who have firsthand experience of reporting burdens on decision-makers. Early design partners and customers include Gigs, Evalart, and Impactpilot. At Motley, we believe reporting should empower strategic discussions, not dilute those. Today’s business teams spend billions of hours pulling data and preparing documents. Motley is here to turn that into a process measured in minutes, freeing companies to focus on impact, said Yann Ranchere, CEO of Motley. With the new funding, Motley will accelerate product development, broaden integrations, and scale go-to-market efforts with its early partners and customers.

Amsterdam-based startup Struck has raised €2 million in a seed round led by Value Factory Ventures, with participation from Antler and several industry angels from the construction and real estate sectors. The investment will be used to expand Struck’s AI-driven compliance platform and accelerate its rollout across Europe. Founded in 2024, Struck has developed an artificial intelligence platform that helps architects, developers and municipalities navigate complex building regulations. The software provides instant insights into the rules applicable to each project and will soon automatically verify whether designs meet all legal and environmental standards. By digitising and automating compliance checks, the platform aims to speed up permitting, cut costs and promote sustainable construction. “Building regulations are becoming increasingly complex, while the need for faster and more sustainable construction is greater than ever,” said Max van Riel, co-founder of Struck. “Therefore, it's essential to find solutions to accelerate and simplify this process.” Since its launch, Struck has become a leading platform for building regulation compliance in the Netherlands, serving thousands of users, including municipalities, builders, developers and architects. Its tools include an extensive AI library of building codes and an automated permit-exemption checker. Johan van Heusden, Managing Partner at Value Factory Ventures, commented: “The construction sector is responsible for nearly 40% of global CO2 emissions, yet we urgently need to build millions of new homes. Solving this paradox means building smarter, not slower.” Struck plans to expand beyond the Netherlands into other European markets where regulatory complexity continues to slow development.

Dublin-based climatetech Proveye has been awarded a contract by the European Space Agency (ESA) to complete the development and deployment of ProvVari, a precision fertiliser solution designed to improve productivity, reduce costs, and minimise the environmental impact of grassland farming across Europe. Founded in Dublin and headquartered at NovaUCD, Proveye combines AI-driven remote sensing with satellite, aerial and field data to help farmers boost profitability while reducing emissions and restoring ecosystems. The project is supported under ESA’s Spark Funding initiative and aims to help farmers apply fertiliser more efficiently using space-based technology. Built on Proveye’s existing ProvGrass platform, ProvVari integrates satellite data from ESA’s Sentinel-1 and Sentinel-2 missions with drone imagery, GNSS guidance, and soil and weather data. The platform will generate variable rate application maps that optimise fertiliser use while protecting water quality and supporting EU climate and biodiversity goals. “ProvVari has already drawn strong engagement from agri-advisors, machinery manufacturers, and seed and fertiliser companies, as well as a growing community of progressive Irish farmers,” said Jerome O’Connell, CEO of Proveye. “At Proveye, we see little trade-off between farming and nature, our technologies are designed to enable both to thrive, and this ESA contract is a major step forward in our mission to align agricultural productivity with environmental stewardship, biodiversity protection, food security and climate resilience.” Proveye plans to launch ProvVari in Ireland in early 2026 before expanding into international markets. Alongside supporting farmers, the platform will provide policymakers and regulators with new tools to manage fertiliser use sustainably, contributing to healthier soils, cleaner water systems and more resilient rural landscapes.

Munich autonomous robotics systems startup Circus SE today announces that Circus Defence has signed a framework agreement with BRAVE1, the Ukrainian government’s defence technology platform.  Ths is the first deployment under the newly formed Circus Defence entity and the world’s first use in active defence operations – starting in Ukraine. The  deployment will provide Ukrainian partners with an operational logistics and efficiency  advantage through fully autonomous nutrition systems. Designed for field mission deployment, the company's CA-M delivers a frontline-ready, fully autonomous food preparation system that removes the need for human involvement and significantly reduces operational complexity. Its containerised design enables rapid transport, setup, and deployment — even in remote or temporary locations — ensuring 24/7 access to fresh, high-quality, nutritious meals without requiring permanent staff or kitchen infrastructure. Built for energy resilience and equipped with smart sensors and vision-based controls to maintain HACCP-level hygiene and food safety, the CA-M provides consistent, reliable nourishment wherever it’s needed most. Circus Defence SE is part of Circus SE, a developer of autonomous AI robotics and dual-use infrastructure systems. The company develops modular, AI-driven autonomous infrastructure solutions for mission-critical environments, building on Circus’s patented technologies and proven expertise in meal supply robotics. The program, initiated by the Ministry of Digital Transformation,  Ministry of Defence, the Armed Forces of Ukraine, and Military Innovation Technology  Solutions (MITS), aims to integrate and scale next-generation defence technologies in  Ukraine.  The agreement establishes a collaboration to deploy autonomous ground infrastructure systems, starting with Circus AI robotics and nutrition supply systems at BRAVE1 facilities, with deployments set to begin immediately.  Circus Defence will also utilise the government-owned program’s expertise to expand its AI robotics product portfolio, moving beyond meal supply to next-generation autonomous defence systems.  The delivery to Ukraine marks Circus Defence’s operational market expansion, where the company will leverage its global mass-production capabilities and the upcoming start of  European high-volume production.