UK-headquartered clinical AI workforce platform TERN Group has raised $24m Series A funding. Notion Capital led the funding, which includes RTP Global, LocalGlobe, EQ2 Ventures, Leo Capita, Presight Capital, Mato Peric MPGI, Tom Stafford (Cofounder of DST Global), along with former NHS England chair, and CEO of AXA Healthcare. This brings TERN Group’s total funding to $33 million. Hospitals and care providers are stretched thin, forced to rely on expensive locums that drain budgets without solving the long-term gap, with the UK NHS alone spending over £10 billion on locums Healthcare systems everywhere are caught in the same cycle: demand from the industry is rising, but there is no accessible pipeline of qualified healthcare professionals. On top of that, international recruitment is slow and bureaucratic. TERN Group has built what it calls the “world’s first AI clinical workforce platform” — developed by clinicians, HR experts, and AI technologists — to source, secure, and relocate top healthcare talent. The enterprise-ready system integrates AI-driven workflows with human-led support, combining sourcing, credentialing, training, relocation, and settlement into a seamless solution. The platform delivers 60 per cent faster time-to-hire (cutting months-long processes to weeks); 3x cost savings compared to locum-heavy models; 15–20 per cent productivity gains by aligning talent supply with clinical demand; a far superior candidate experience, driving 96 per cent retention; and the AI-workflows can be easily integrated into a single regulatory-compliant enterprise platform.  TERN Group already has over 100+ global healthcare clients, including 18 UK NHS trusts (including two of the five leading trusts in the country). The company has expanded from one to six core markets this past year, and is now active in Germany, UK, UAE, KSA, Japan and USA. More than 650,000 professionals from 13 countries have signed up to access transparent information, upskilling opportunities, and direct roles with reputable employers.  According to Avinav Nigam, founder and CEO of TERN Group, Every Trust the founders meet tells the same story: “They need qualified staff now, but they cannot risk patient safety or compliance.” “Our platform gives them speed without compromise, predictability without cost inflation, and sustainability where locum dependency has become unsustainable.  TERN Group’s mission is for every placement to set off a chain reaction: a nurse arriving on time means a ward runs smoothly, which means patients get treated faster. This raise enables us to make those chain reactions happen at scale, across the UK and beyond.” Itxaso del Palacio, Partner of Notion Capital says: “TERN Group is tackling one of the healthcare industry’s most urgent structural challenges: affordable, reliable and sustainable recruitment. By combining compliance with AI-driven efficiency, they are proving that workforce delivery doesn’t have to be slow or fragmented. It can be predictable infrastructure, which is why they are already becoming the trusted partner for healthcare systems in the UK and beyond.” Mark Hackett, CEO, University Hospitals Plymouth NHS Trust shared: "TERN Group is helping us address critical workforce shortages by providing a compliant and predictable pipeline of international doctors. Their platform brings much-needed speed and structure to a process that has traditionally been slow and fragmented.”  With the new funding, TERN Group will expand its UK operations, deepen partnerships with NHS Trusts and care groups, and accelerate development of its Clinical AI Workforce platform, including compliance automation, workforce planning, and system integrations.  The company will also continue to invest in international talent preparation, clinically, linguistically, and culturally, ensuring that professionals not only arrive ready but also stay long term.

Productivity social network uRoutine has closed a £555,000 Seed funding round.  Described as the “productive social network”, uRoutine is free, globally accessible, and designed to be impactful in just five minutes a day, helping users ‘achieve more and scroll less’ while embracing the growing trend of digital detoxing.  The consumer-facing app aims to address the productivity and wellbeing challenges many people have faced since the pandemic and the rise of remote work. The platform allows users to create, copy and track routines, connect with friends, family, and trusted experts such as healthcare professionals and personal trainers, and stay motivated through shared progress and encouragement. uRoutine has already attracted more than 3,500 pre-registered users between May and July 2025. The investment, secured within just three weeks, comes primarily from angel investors who backed founders Ed Johnson and Gabriel Sirbu’s previous venture PushFar, which was acquired by ScaleUp Capital in June 2023. Ed Johnson, co-founder and CEO of uRoutine, shared:  “Closing our round in just three weeks and welcoming thousands of early users tells us there’s a real hunger for a more productive alternative to social media.”     We are thrilled to have the backing of investors who worked alongside us before and saw our last company through to a successful exit.  This allows us to focus entirely on delivering value for our users from day one, and turn the appetite we have experienced into lasting  Influence.” Investors who took part in the round include Timothy Hely Hutchinson CBE (former CEO of Hachette UK), Tom Weldon (CEO of Penguin Books UK), Glynn Woodin (Founder of Mustard Foods and Mustard Catering), and Paddy Dear (Co-Founder of Tetragon Financial Management). Tim Hely Hutchinson CBE, investor and former CEO of Hachette UK said:  “uRoutine is a platform that is perfectly aligned with the cultural shift towards digital balance, meeting a huge and growing demand for tools that help people use technology more purposefully and productively. An exciting aspect of uRoutine is that it combines social impact with strong commercial potential and a clear path to scale and profitability. Ed and Gabriel have a proven track record in identifying and executing opportunities to build impactful platforms, which I’ve seen first-hand, and I’m delighted to be working with them again.” uRoutine will use the funding to support the development and marketing of the platform, as well as developing B2C and B2B revenue streams. In the long term, the company plans to introduce a business and brand-facing solution, helping organisations with employee productivity, alongside helping brands reach consumers who are actively engaged with habits, goals and routines that align with brand purpose. Lead image: uRoutine. Photo: uncredited.

LeydenJar, a Dutch deeptech company, has raised €23 million to scale its technology into full production at its Eindhoven facility, PlantOne. The round includes €13 million in equity financing, led by Extantia and Invest-NL, to complete the final phase of PlantOne’s construction and begin operations in 2027. In addition, LeydenJar secured €10 million in customer funding from a leading US-based consumer electronics company to support the development and installation of key production equipment. LeydenJar is developing Silyte™, the energy-dense pure silicon anode for lithium-ion batteries. Its 100 per cent silicon anodes are ultra-thin, fast-charging, and structurally stable thanks to a unique porous columnar design, while also cutting CO₂ emissions. The technology increases energy density by up to 50 per cent, enables charging within minutes, and delivers reliable performance across hundreds of cycles. According to Christian Rood, CEO and co-founder of LeydenJar, the funding represents a significant milestone for the company: We’re now moving from breakthrough lab innovation to full-scale production. Our technology is already integrated into the roadmaps of some of the world’s most ambitious product developers and with PlantOne, we’ll be ready to deliver at scale. The company is investing in expanding its commercial organisation and scaling operational infrastructure to support rising customer demand and prepare for full industrial deployment.

Hormona, a UK-based healthtech developing personalised hormone tracking solutions, has received a £100,000 grant from Innovate UK to support development of its hormone tracking technology. The funding will support development of the company’s AI-driven, at-home hormone tests, designed to help shorten diagnostic delays. Founded by Karolina Löfqvist (CEO) and Jasmine Tagesson (COO), Hormona is targeting a longstanding and systemic issue in UK women’s health: the lack of adequate clinical tools and GP training to diagnose and manage perimenopause and menopause. According to the company, its solution will allow for at-home hormone testing using urine samples in about 15 minutes, as an alternative to blood tests that cost an average of £174. In the UK, around 13 million women are either perimenopausal or menopausal, with many facing years-long delays in receiving a proper diagnosis. Research cited by Hormona shows women often wait up to five years for a perimenopause diagnosis. This delay contributes an estimated £3.38 billion annually in lost productivity to the UK economy, according to data from the Fawcett Society The issue is compounded by gaps in medical training. A recent survey of UK general practitioners found that nearly half feel ill-equipped to manage menopause using current NICE (National Institute for Health and Care Excellence) guidelines. This results in many patients being misdiagnosed or told their symptoms are stress-related, an experience shared by Hormona’s CEO. “After personally experiencing how the medical system dismissed my symptoms as stress-related, I realised how widespread and damaging the lack of diagnostic tools and clinical support truly is,” said Karolina Löfqvist, co-founder and CEO of Hormona. Hormona’s innovation lies in its ability to combine rapid at-home hormone testing with AI-powered clinical decision support tools for GPs. The startup’s proprietary technology analyses hormone fluctuations using urine samples and provides data-rich results that clinicians can use to make more accurate, timely decisions. “Our tests are not just fast and affordable, they offer the objective data that doctors need to treat patients effectively,” added Jasmine Tagesson, co-founder and COO. “This funding will help us bring our technology to the women who need it most, and to the GPs struggling to support them.” The medical lead on the project, Dr. Anna Targonskaya, is overseeing clinical development and research validation. According to the company, its solution has potential not only to support perimenopause and menopause care but to eventually expand into broader women’s health diagnostics. The grant was awarded as part of an Innovate UK programme that supports breakthrough innovations with commercial potential. Innovate UK is the UK government's innovation agency, part of UK Research and Innovation (UKRI), and frequently backs early-stage companies that address market failures or underserved populations. According to Tech.eu research, investment in femtech remains a small but fast-growing segment of the European healthtech sector. With the Innovate UK grant in hand, Hormona plans to expand clinical testing, advance its AI capabilities, and begin early partnerships with healthcare providers in the UK.

Louis Taylor, the CEO of the British Business Bank (BBB), the UK’s biggest venture investor, has just come back from holiday, where he says he has “tried to shed” some excess weight amassed by the many corporate breakfasts and dinners he attends. Conversely, the BBB is fattening up, courtesy of the benevolence of the UK government, its owner, which has given it an additional £6.6bn to invest in VC funds and startups by 2030, as Labour hopes to boost the flagging economy through its Industrial Strategy. Set up in 2014 to improve the flow of capital to private finance, the BBB (which also has a banking arm), plays a pivotal role in how the UK funds startups, through direct and VC investments, encouraging the private sector to join investments they might view as too risky. But the BBB -which invested £1.29bn in 2024 in investment capital- faces questions, ranging from whether it has the smarts to directly invest in startups to the quality of its portfolio? Observers also question whether its “civil service” salaries can attract top talent. One source says: “Surely the BBB should stick to fund investing rather than trying to move into an area where they have a limited track record.” “Good quality” portfolio Defending the BBB portfolio, Taylor says it’s “good quality”. He says: “Not everything is going to be a winner, but that's the nature of the investment industry that we're involved in. We’re still carrying our portfolio at more than 1.3 times what we paid for it.” The BBB also points to the 22 unicorns which it has supported, including the likes of AI unicorn Tractable and fintech Thought Machine. One of its recent wins has been OrganOx, the University of Oxford spinout, which makes organ preservation devices, which in August was sold to global medical company Terumo Corporation in a $1.5bn “landmark” deal. Taylor, who has been CEO for three years, says BBB’s investment in OrganOx was a “ten-year burn”. He adds: “It took a long time to get that to a billion and a half. And similarly, there is a lot of companies in our portfolio that are quite new for us, which will take some time to realise.” BBB as direct investor and magnet for other funding On criticism that it should leave direct investing to VCs in the private sector, Taylor says: “Have we been directly investing as long as we've been doing fund investing? Well, no. But actually, we built our skill set in direct investing by looking at the companies we've been investing in through funds and looking at the ones from there that we want to directly invest in.” Generally speaking, the BBB is not competing directly with private investors, but is more acting as a stimulus to “crowd in” domestic institutional funds. The UK tech ecosystem has long faced the charge that it’s good at birthing startups, but not so good at scaling them, a disconnect the BBB was established to fix. Allied to this is the pull of the US investment market for UK startups, which is much bigger and more risk-tolerant, while US predators are also keen to hoover up the next big UK startups. Taylor, who has also served as CEO of UK government credit agency, UK Export Finance, and senior roles at Standard Chartered, says: “I mean, we’re not saying there shouldn’t be overseas capital in our scale-up companies. There absolutely should. It can be very helpful. “But there should be more domestic counterbalance to that overseas capital because companies tend to migrate to where their capital comes from. We don’t want to lose our best companies just at the point they’re becoming economically significant. We do want them to stay here, to do research, to employ people, to have more spinoff opportunities.” Sheffield HQ a "real advantage" Meanwhile, some have suggested that the BBB’s Sheffield headquarters could be a bit of a turn off for talent. Not so, says Taylor, who argues it’s a “real advantage”, citing the perspective it gives the BBB on investing in the UK regions, part of its remit, as well as benefiting from less competition for talent. He adds: “You look at Sheffield's universities and more of their graduates stay in Sheffield than pretty much any other university because it's a great place to be and there's great opportunity.” Taylor, who starts work at 8am and often attends work evening events, also defends criticism that talent might also be turned off by the BBB’s “civil service level” salaries. He added: “We’re not going to pay top whack private sector.” But he points to wider “social purposes” working for the BBB and helping generate economic growth. Paucity of pension fund investment Another long-standing burning issue is the paucity of UK pension funds invested in VCs and UK startups. Taylor says: “This is an allocation issue. It's a risk appetite issue. It's not about the amount of money we've got.” The BBB’s expanded role now includes the British Growth Partnership, an investment vehicle looking to raise hundreds of millions of pounds from UK pension funds and other institutions to back British venture capital. It is now, for the first time, managing capital on behalf of pension funds together with other institutional investors. Meanwhile, earlier this year, the bosses of the UK’s largest pension funds struck a deal with the government that it claims will release up to £50bn worth of investments, with at least 50 per cent earmarked for British startups, including home-grown startups. On the British Growth Partnership, he says: “We're seeking to raise hundreds of millions of pounds. We're in the market at the moment. “We've got due diligence going on, and we hope to be investing by the end of this year.” Lack of diversity in startups Like in other industries, the lack of diversity continues to be an issue in UK startups. This year, the BBB committed £400m to diverse and emerging fund managers. The BBB has also set its first gender target, with the initiative aiming to invest at least 50 per cent of the capital into female fund managers. Taylor said: “This is not an ideological push, this is a commercial push that we’ve got to get underserved entrepreneurs into the mainstream of venture capital investment.” On university startup stakes The BBB is also a big investor in UK university spinouts, backing one in four UK university spinouts, which raised £1.9bn in equity investment last year. Critics accuse the universities of taking too big a stake in startups, though 2024 figures show universities took an average of 16.1 per cent in the companies they spun out, down from an average of 21.5% per cent in 2023. Taylor says there is now “more realism” across UK universities compared to a few years ago. He says: “I am personally inclined to the view that universities should see the value of spinouts not least in drawing research funds to the university itself rather than being a cash cow for making capital gain.” IPO shortages On another key issue of the dearth of UK IPOs, Taylor said: “I wouldn't focus only on public markets. I think it's about liquidity in risk assets generally, so private markets as well. “And I think that if there were a greater appreciation by domestic institutions in the quality of the UK's innovation ecosystem, there would be a lot more liquidity in UK markets, private and public as well. And actually, valuation differentials between the UK and the US would be much narrower.” Is UK losing its lustre? Taylor does not think the UK has lost its status as an investment hotbed, pointing out that the UK venture market is bigger than France, Germany and Sweden combined. He adds: “I think London maintains its position as a really, really strong centre of venture capital for Europe. And I don't think that'll change unless our innovation ecosystem kind of collapses and I don’t see that happening.”

Today CUTISS, a late-stage clinical TechBio at the forefront of tissue therapeutics and regenerative medicine, has announced the closing of its Series C round for €57.9 million (CHF 56M) with existing and new investors, bringing total funds raised to more than €129.3 million (CHF 125M).  Established in 2017 as a spin-off of the Tissue Biology Research Unit of the University of Zurich, CUTISS is at the forefront of tissue engineering therapy and regenerative medicine.  Its lead product, denovoSkin, is a bio-engineered, personalised skin graft that promises to transform skin surgery, especially for burn victims.  I spoke to CEO and co-founder Dr Daniela Marino in May last year, so I was excited to talk again.  A bioengineered graft that grows with the patient The personalised (autologous), bioengineered skin graft denovoSkin™ is designed for patients undergoing skin surgery for burns, reconstructive and plastic procedures. denovoSkin™ is bilayer, composed of both dermis and epidermis. Long-term follow-ups to date have shown that it drastically spares donor sites, matures quickly, safely restores skin function, regenerating in a near-scarless manner, and growing with the patient. As a result, it has the potential to significantly reduce healthy skin harvesting and scar care (including follow-up corrective surgeries), and improve quality of life. From investor hesitation to FOMO: How a Dutch burn centre unlocked the funding Late-stage funding is never easy. Marino acknowledged that the fundraising process was unusually drawn out. “It took a long time—definitely harder than usual,” she said.  “Even the last round wasn’t done in a week, but this time you could really feel that although there was strong interest in the story — the data speaks for itself — investors just took much longer to make decisions. It stretched on and on. At times, I wasn’t sure if they were waiting for an apocalypse or a miracle in the markets. In the end, I spent almost two years pitching nonstop, which was painful.” To manage the process, CUTISS staged the raise in multiple closings. “That turned out to be the smartest move,” Marino explained.  “With the first closing, we were able to demonstrate real milestones—launching Phase 3, starting recruitment. People thought that with the new European system this would be too complex, but we showed we could succeed.” Momentum built after a key strategic backer came on board, as CUTISS has also signed a collaboration agreement with its new investor Rode Kruis Ziekenhuis (RKZ), which could see the creation of CUTISS’ first international commercial production facility in the Netherlands, once denovoSkin is commercially approved. RKZ is a leading EU clinical trials centre, participating in the Phase 2 and Phase 3 trials for denovoSkin.   “Once the burn unit hospital in the Netherlands invested, it sent a strong signal,” she said. “They saw that Phase 3 was happening, the timing was clear, and the product was truly on track. That investment unlocked the rest — suddenly, the other investors who had been hesitating for so long felt the FOMO. Within three or four weeks, after two years of effort, the round came together.” Nadine Vieleers, CEO Rode Kruis Ziekenhuis / Burn Center Beverwijk, commented:  “As a clinical institution dedicated to advancing burn care, we’re committed to support CUTISS and the development of denovoSkin. We’re excited to continue our closer collaboration, and the agreement we’ve signed sets out our vision for bringing their revolutionary skin tissue therapy to our patients as a priority.” The Series C co-lead investors – the family office of Giammaria Giuliani, a longstanding lead investor, and a US family represented by Shiloh Advisors AG – were joined in 2025 by new investors ranging from family offices to industry players, as well as an investor collective at Swisspreneur. Silvan Krähenbühl, speaking on behalf of Swisspreneur, commented: "We’re proud that Swisspreneur participated in the latest funding round of CUTISS, a pioneering Swiss biotech company. Their mission to revolutionise skin regeneration is exactly the kind of bold innovation we love to support, and we're excited for the next phase in the journey ahead."  For Marino, the validation goes beyond capital.  “It’s not just a family office or a private investor—it’s one of Europe’s leading burn hospitals betting on our technology. That makes it a strategic investment and sends a powerful message.” CUTISS is working to scale up the production of denovoSkin™ through automation. The company has already developed a first-in-class automation platform for the scalable production of personalised tissue therapy. This patented, fully-closed, end-to-end system enables de-centralised production, cost-effective scale-up, and high return on investment. Platform industrialisation is now ongoing. Orphan drug status and broad applications put CUTISS at the forefront of regenerative medicine The funding proceeds will be used to progress with the Phase 3 trial of the lead product denovoSkin. Currently in Phase 3 clinical trials in Europe, denovoSkin has received Orphan Drug Designation from Swissmedic, the European Medicines Agency (EMA), and the US FDA for the treatment of burns. Marino explained the trial process: “We started recruiting this year in Europe and Switzerland, really at full speed from the second quarter,” she explained. “We have almost 20 sites in the trial. It took some time to bring them all online, but now we expect to have our first dataset by the end of next year. This summer we already saw a lot of patients coming through. We’re at the very last step. If Phase 3 confirms what we saw in Phase 2, the future looks bright. Now that the fundraising round is closed, all of our energy is going into that.” Asked about the types of patients taking part in the trials, Marino pointed to the broad scope of applications.  “In Phase 1, we treated both patients with active burns and those undergoing removal of a scar or giant nevus, and we followed them for five years with good results.  In Phase 2, we expanded—one full trial just with burn patients, and another across reconstructive cases, from scar revisions to tumor resections to gender reassignment surgery. The outcomes have been very consistent. The product seems highly versatile.” She attributed that versatility to the underlying biology. “Each time, the product is freshly prepared for the individual patient. If the wound bed is well prepared, it doesn’t really matter why the wound is there—whether from burns or reconstruction.  Of course, actively burned patients are very fragile, so we see dropouts, sepsis, even deaths. It’s a very complex trial to run. But physiologically and biologically, when the wound is ready, our product appears to work across indications.”Further, there is a huge potential beyond burns." Over a million skin surgeries are performed per year in Europe. According to Marino: “We are really trying to approach the market in a very clever way: by getting there as fast as possible with the highest demand in burns, but really trying to serve the market correctly and support patients who had a trauma or an accident or a cancer to be able to use the technology correctly as well.” Paramount to this evolution and acceleration is a partnership Tecan, a Swiss-American company that produces machines for life science, announced earlier this year.  Marino admits: “Tecan was a real jackpot for us in the first quarter,” she said. “Up to now, our machines were developed as prototypes with engineers. But what we need are real, deployable devices — and with Tecan, we’re moving very quickly toward that finish line.” CUTISS to launch VitiCell for personalised vitiligo treatment CUTISS also has exclusive rights to globally commercialise VitiCell, an MDD CE-marked medical device developed by IBSA Pharma. The device enables autologous cell grafting for skin re-pigmentation, offering a personalised treatment option for patients with vitiligo. This chronic autoimmune disorder causes patches of skin to lose pigment or colour. According to Marino, vitiligo, a condition that remains poorly understood.  “It’s very prevalent and actually increasing, but nobody really knows why.  That lack of understanding comes from years of neglect—vitiligo was long dismissed as a cosmetic issue rather than a medical one, so little research was done.  Yet now we know these patients face higher cancer risks, immune response issues, and other comorbidities. Socially, the stigma can be devastating—in some cultures it can prevent people from having any kind of normal life.” Using VitiCell, “within an hour, clinicians can take a thin piece of pigmented skin from the patient, isolate the melanocytes, and apply them to the depigmented lesion so the cells repopulate the area,” Marino explained. “It’s still personalised, still cell therapy, and a perfect addition to our approach. We’re now in the regulatory transition from MDD to MDR, and once that’s complete, we’ll launch. The demand is already incredible.” In the future, patients treated with denovoSkin may also benefit from this therapy. CUTISS will launch VitiCell once the EU MDR CE marking is granted. “The vision is that by the time Phase 3 data is positive, the machines are ready, and we already have revenues from this device,” Marino explained.  “At that point, the company will truly be positioned as a commercial entity.” CUTISS is at the forefront of a growing tissue engineering wave Looking ahead, Marino sees CUTISS riding the broader wave of tissue engineering. “It’s a field that’s really taking off. Just yesterday I saw news of a new printer for tissues—  it’s becoming the next big thing,” she said. “We see CUTISS as one of the leaders. To the best of our knowledge, we’re the only company with a product already in Phase 3 and machines close to being market-ready. It’s an exciting point of development in such a fast-growing sector.” The next step, she noted, is not just regulatory approval but ensuring adoption. “That could mean an acquisition by a company already taking the lead in tissue and organ regeneration or others in the TechBio space. It could mean an IPO, so we grow internally and expand into other applications beyond skin. Or it could mean a large private equity round in a few years, depending on how the market evolves.” Marino is keeping an open mind. “Five years ago, the idea of an acquisition felt remote—I couldn’t see who would be able to sell this product effectively. But now, there are strong candidates emerging. By the time we’re ready, the landscape will look very different. Tissue and organ therapy is moving to the forefront, and CUTISS is well positioned to be part of that story.”

Pactos, a Munich-based startup building an AI platform for structured and compliant external workforce management, has raised €2.7 million in a pre-seed round. With a market value exceeding €230 billion, contingent workforce management is a major driver of Europe’s economy. Yet many companies still rely on fragmented tools like spreadsheets and email, an inefficient approach that also creates unnecessary legal risks. Pactos addresses these challenges with an AI-powered platform that streamlines the management of external workers. The software automatically reviews contracts, tracks assignments in real time, and securely stores all relevant data. Procurement, HR, legal, and finance teams gain access to detailed analyses and actionable recommendations, while the platform integrates seamlessly with existing IT systems such as zvoove. Already managing several thousand external workers for clients including Swissport, Knuth, and Unique Personal, Pactos is certified to internationally recognised standards and fully compliant with GDPR. Antonio Zill, Co-founder and Managing Director of Pactos, explains: We aim to build a real European powerhouse for external workforce management, enabling companies to respond quickly and efficiently to fluctuating demand. This funding allows us to refine our software end-to-end and better deliver on our promise: to make the use of external resources as simple and efficient as possible. The pre-seed round is led by High-Tech Gründerfonds (HTGF). Björn Sykora, Principal at HTGF, commented: Managing external workforce is a major challenge for companies: complex, time-consuming, and full of compliance risks. Pactos digitises the end-to-end process and has the potential to become the leading system in a billion-dollar market. Alongside HTGF, Pactos has also gained the support of various experienced industry leaders like Dr. Sebastian Dettmers (CEO of StepStone), Jens Bender (initiator of the HR Angels Club),  and Alexander Schwörer (owner of the PERI Group). Investors from the digital tech and startup scene, including Robin Haak (Managing Partner at Robin Capital), and Franzi Majer (Founding Partner of Superangels), shared: We are excited to support Pactos on its journey. Their AI-powered operating system brings transparency, control, and efficiency to an often-neglected area and has the potential to shape a new category in the B2B SaaS sector. With the pre-seed funding, Pactos aims to expand its AI functionalities, strengthen its development team in the DACH region, and accelerate its B2B growth.

Stockholm-based Standab, a provider of innovative urban smart-charging solutions, has secured €3.6 million in funding to scale its operations. Shared micromobility has grown rapidly in European cities, but inconsistent charging practices have led to operational inefficiencies, high costs, and street clutter. Micromobility operators often rely on costly and emission-heavy battery swapping using vans, while cities struggle to integrate these services seamlessly. Standab addresses these challenges through its standardised charging stations. They are compatible with more than 85 per cent of existing scooter and e-bike fleets. Having already entered partnerships with leading operators such as Dott/Tier, Standab enables automated charging, reduces the need for excess batteries, and significantly lowers CO₂ emissions. In pilots, Standab has shown a 50 per cent reduction in charging costs, 45 per cent higher fleet availability, and up to 55 per cent fewer swap tasks, while cities benefit from decluttered streets and free infrastructure. Marcus Adolfsson, Co-founder and CEO of Standab, said: Cities and operators alike are calling for smarter ways to integrate micromobility into the urban landscape. Our universal charging solution solves operational inefficiencies while reducing emissions and creating cleaner streets. With this funding, we can accelerate our roll-out and work towards making Standab the European standard for micromobility charging. The round was led by Spintop Ventures together with Almi Invest GreenTech. Erik Wenngren, Partner at Spintop Ventures, commented: Standab is uniquely positioned to become the universal smart-charging backbone for Europe’s micromobility sector. The company combines strong operator partnerships, proven technology, and a highly experienced team. This investment means that Standab can roll out their intelligent combined software/hardware solution, as the company continues to scale across Europe and deliver both financial and sustainability impact. This investment is fully aligned with one of our core investment themes: accelerating the transition towards a circular future. Jonathan Lannö, Investment Manager at Almi Invest GreenTech, emphasized that Standab’s universal charging solution tackles a key challenge in micromobility, namely the costly and carbon-intensive process of battery swapping. By extending battery lifecycles, reducing fleet overcapacity and enabling grid-smart charging, the company directly reduces emissions and helps cities integrate cleaner, more efficient transport solutions. At Almi Invest GreenTech, our mission is to support companies that accelerate the green transition – a mission that Standab embodies perfectly. The funding will be used to scale operations, expand into 15 European cities by the second half of 2026 and broaden its partnerships with leading micromobility operators.

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.